New Risk • Jun 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: CA$135.0m (US$96.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 93% per year for the foreseeable future. High level of non-cash earnings (57% accrual ratio). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$135.0m market cap, or US$96.8m). Announcement • Jun 03
Fury Gold Mines Limited Reports Assay Results from Phase 1 and Phase 2 Drilling at Eau Claire Gold Project Fury Gold Mines Limited has announced the final batch of assay results from its Phase 1, 13,000-metre drill program, as well as the initial assay results from its ongoing Phase 2, 15,000–25,000-metre drill program at the Eau Claire gold project, located in the Eeyou Istchee Territory in the James Bay Region of Northern Quebec. Phase 1 drilling focused on expanding mineral resources along high-grade shoots and improving continuity within the existing resource, particularly outside the stopes identified in the preliminary economic assessment. A total of 21 drill holes, comprising of 12,700m, were completed, and all assay results have now been received. The last two holes of the Phase 1 program (26EC-102 and 26EC-103), which totals 1,330m. Phase 2 drilling is currently ongoing and aimed at converting inferred mineral resources into higher-confidence categories and expanding the indicated mineral resource. To date, 14 drill holes totalling approximately 7,100m have been completed, with assay results currently available for 720m (holes 26EC-107 and 26EC-109). The most significant result from this batch of drilling is returned from expansion drill hole 26EC 103, which tested approximately 45m down plunge of a historic intercept within the inferred portion of the Eau Claire mineral resource. The hole intersected 7.86 g/t gold over 9.43m, confirming the continuity of mineralization within the modelled zone. In addition, drill hole 26EC 102, which also targeted mineralization within an inferred portion of the Eau Claire mineral resource, returned an intercept of 13.83 g/t gold over 1.97m. Drill hole 26EC 107 was designed to test the continuity of mineralization between two areas currently classified as inferred resources and to support potential upgrading of the resource classification. The hole intersected 3.79 g/t gold over 7.25m, located approximately 50m up plunge from drill holes 26EC 099 and 26EC 096, and demonstrate continuity of the mineralized zone between these intercepts. The Phase 2 drill program at Eau Claire is advancing in accordance with design, with 14 diamond drill holes completed totalling approximately 7,100m. The objective of the program is to systematically infill and upgrade portions of the current inferred mineral resource category to the indicated category, as well as to refine the geological model and improve grade continuity within key mineralized domains. The fully funded Phase 2 campaign will continue through the summer of 2026, with ongoing assay results anticipated to support resource conversion and future economic evaluation of the Eau Claire deposit. Analytical samples for the Drill Program were taken by sawing HQ diameter core into equal halves on site with one half sent to ALS Chemex in Val D’or, Quebec, Canada for preparation and analysis. All samples were assayed using a 50 g nominal weight fire with assay atomic absorption finish (Au-AA24) and multi-element four acid digest ICP-AES/ICP-MS method (ME-MS61). Where Au-AA24 results were greater than 10 ppm by Au-AA24 were re-assayed with 50 g nominal weight fire assay with gravimetric finish (Au-GRA22). QA/QC programs using internal standard samples and blanks, field and lab duplicates, and lab standards and blanks indicate good overall accuracy and precision. Announcement • May 20
Fury Gold Mines Limited Advances Metallurgical Testwork Program At the Eau Claire Gold Project in Quebec Fury Gold Mines Limited had commenced additional metallurgical testwork, to advance the Company’s 100% held Eau Claire gold project further towards feasibility. Fury has engaged SGS Canada Inc. (SGS) to conduct a comprehensive metallurgical testwork program in support of Eau Claire feasibility work following on previous testwork referred to in the Project’s Preliminary Economic Assessment (PEA). The program will support feasibility and development planning for the Project, located in the Eeyou-Istchee/James Bay region of Quebec. The program, which will have an approximate duration of three months, is being carried out to better understand the characteristics of the ore, which will allow Fury the option to build a mill or have the ore toll milled. Testwork will complement the initial metallurgical program completed for the PEA, with the objective of demonstrating repeatability of performance and providing missing information that is required at the pre feasibility level. The program is expected to provide the data required to: Optimize ore processing: Determine comminution parameters (including grinding work index), evaluate grind size, and assess beneficiation flowsheets (gravity, flotation, and leaching) to maximize gold recovery. Support tailings management: Characterize tailings with respect to environmental performance, solid-liquid separation, rheology, and paste backfill suitability. Confirm environmental compliance: Conduct detailed environmental testing to support adherence to applicable regulatory requirements. Results will also provide a strong foundation for developing a complete process flowsheet supported by detailed design criteria, enabling completion of mass and water balances as well as equipment sizing required for process plant layout and design. 
