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. Announcement • May 13
Fury Gold Mines Limited Appoints Annie Blier as Senior Director, Environment and Permits Fury Gold Mines Limited announced the appointment of Annie Blier as Senior Director, Environment and Permits. Ms. Blier will lead the environmental strategy, technical studies, and permitting roadmap required to advance the Eau Claire high-grade gold project towards feasibility, while supporting proactive, respectful engagement with Indigenous Nations and local communities. With over 20 years of mining experience, Ms. Blier has managed environmental and social impact assessments, coordinated provincial and federal authorizations, and implemented environmental management systems across project life cycles—from exploration and construction through operations and closure. Her background includes leading multi-disciplinary teams, managing technical consultants, and maintaining strong working relationships with regulators and government agencies to deliver on permitting schedules and compliance commitments. Ms. Blier has held senior positions at various mining companies, including Director of Sustainable Development at IAMGOLD Corporation for 15 years, and Hecla Québec. Ms. Blier also brings deep experience in Indigenous and community relations, including supporting consultation processes, establishing stakeholder communication tools, and participating in negotiations that have led to agreements and cooperation frameworks. Her approach integrates environmental performance with meaningful engagement—helping projects identify and manage key environmental and social risks early. Ms. Blier holds a Bachelor’s degree in biochemistry and a Master’s degree in environment from Sherbrooke University, and she is a registered chemist with the Ordre des chimistes du Québec since 1995. Announcement • Apr 21
Fury Gold Mines Limited, Annual General Meeting, Jun 25, 2026 Fury Gold Mines Limited, Annual General Meeting, Jun 25, 2026. New Risk • Apr 02
New major risk - Revenue and earnings growth Earnings have declined by 57% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 57% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (CA$11m net loss in 2 years). Shareholders have been diluted in the past year (24% increase in shares outstanding). Announcement • Mar 18
Fury Gold Mines Limited Announces Initial Results from the Phase 1 13,000-Metre Exploration Drill Program At the Eau Claire Gold Project Fury Gold Mines Limited announced initial results from the Phase 1 13,000-metre exploration 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 was focussed on expanding resources along high-grade shoots and adding continuity to the existing resource outside of the preliminary economic assessment identified stopes. A total of 21 holes (approximately 12,700m) has been completed, with results received for only 5,550m. Complete assay results have been received from 11 holes as well as partial results from a 12th hole. The key highlight was infill drill hole 26EC-099, which targeted an inferred portion of the Eau Claire resource and intercepted 11.74 g/t gold over 6.63 metres (m) approximately 40m down plunge from previous drilling. A second hole, 26EC-101, which is a further 40m step down plunge outside of the existing resource envelope has just been completed and results are pending. A Phase 2 Eau Claire drill campaign, focussed on converting inferred portions of the resource and extensions to the indicated resource category, is now underway. The fully financed Phase 2 program is anticipated to comprise of an additional 15,000 – 25,000m of drilling and is expected to continue through the spring and summer of 2026. 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. Valérie Doyon, P.Geo, Senior Project Geologist at Fury, is a “qualified person” within the meaning of Canadian mineral projects disclosure standards instrument 43-101 and has reviewed and approved the technical disclosures in this press release. Announcement • Jan 26
Fury Gold Mines Limited Appoints Phillips S. Baker Jr. as Independent Director, Effective January 26, 2026 Fury Gold Mines Limited has appointed Phillips S. Baker Jr. to its Board of Directors as an independent director, effective January 26, 2026. Phillips S. Baker Jr. has nearly four decades of mining experience, most recently serving as Chief Executive Officer and director of Hecla Mining Company from 2003 until his retirement in 2024. At Hecla, Mr. Baker strengthened the company’s position as the largest silver producer in both the U.S. and Canada through a strategic portfolio of long-lived assets. Mr. Baker has also been a leader in gold mining with numerous operations around the world, including the Casa Berardi gold mine located in the Eeyou Istchee Territory in the James Bay region of Northern Quebec. Mr. Baker has also served as Chair of the Board for the United States’ National Mining Association from 2017 to 2020. He has held officer or director roles at numerous public companies since 1990. Mr. Baker is recognized in both Canada and the US with awards from CIM in 2023 and SME in 2017. Price Target Changed • Jan 14
Price target increased by 10% to CA$1.88 Up from CA$1.70, the current price target is an average from 2 analysts. New target price is 89% above last closing price of CA$0.99. Stock is up 87% over the past year. The company is forecast to post a net loss per share of CA$0.028 next year compared to a net loss per share of CA$0.73 last year. Recent Insider Transactions Derivative • Jan 12
CEO & Director exercised options to buy CA$174k worth of stock. On the 9th of January, Forrester Clark exercised options to buy 212k shares at a strike price of around CA$0.83, costing a total of CA$177k. This transaction amounted to 16% of their direct individual holding at the time of the trade. Since March 2025, Forrester's direct individual holding has increased from 1.09m shares to 1.58m. Company insiders have collectively bought CA$525k more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Dec 09
Fury Gold Mines Limited Announces Initial Mineral Resource Estimate for the Sakami Gold Project in Quebec Fury Gold Mines Limited announced an initial inferred mineral resource estimate ("MRE") for the La Pointe Extension target on its wholly owned Sakami gold project ("Sakami" or the "Project"), located in the Eeyou Istchee Territory in the James Bay region of Northern Quebec. Inferred Mineral Resource: 23.9 million tonnes (Mt) grading 1.07 grams per tonne (g/t) gold (Au), for 825,000 ounces (oz). Near Surface: All of these ounces are projected to be in-pit within 400 metres (m) of surface. Considerable upside to expand beyond the existing in-pit resources with an initial Mineral Exploration Target at La Pointe ranging between 8.1Mt and 14.7Mt grading 1.57 g/t Au to 1.11 g/t Au. Industry-Low Discovery Cost: The La Pointe Extension discovery cost of less than CAD 9/oz, which includes both Fury's acquisition cost of Quebec Precious Metals Corporation (QPM) and the cost of the 2025 Sakami drill program. The initial MRE was prepared by Olivier Vadnais-Leblanc, Geologist with SGS Geological Services in accordance with the 2014 Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definition Standards and Canadian National Instrument 43-101 ("NI 43-101"). It can be reasonably expected that most Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. The Project mineral resource estimates (Sakami Extension) are based on a validated database which includes data from 54 surface diamond drill holes totaling 18,233.72 m. The Project resource database totals 13,147 drill hole assay intervals representing 17455.62 m of data. The MRE for the Sakami deposit is based on 44 three-dimensional ("3D") resource models. Considerable upside to expand Beyond the existing in-pit resources to add 8.1Mt to 14.7Mt grading between 1.57g/t Au and 1.11 g/t gold (Au), of which 35,487m of historical drilling has been completed. More work needs to be completed to confirm the resource potential. All 2025 drill holes completed at La Pointe Extension intercepted zones of intense silicification with sulphide mineralization containing broad zones of gold mineralization in two sub-parallel zones with higher grade cores. Announcement • Nov 25
Fury Gold Mines Limited Confirms Continuity and Extends Near Surface Gold Mineralization by 185 Metres At the Sakami Gold Project in Quebec Fury Gold Mines Limited announced the assay results from the last four holes of its inaugural drill campaign at the Sakami gold project located in the Eeyou Istchee Territory in the James Bay region of Northern Quebec. The 2025 diamond drill program successfully completed 3,685 metres ("m") in seven holes of which six (6) drill holes totalling 2,965 m targeted extensions and gaps at La Pointe Extension and one drill hole (720 m) targeted an Induced Polarization chargeability anomaly at Juliette. Drill hole 25SK-005, the southwestern most drill hole completed by Fury, intercepted 26.0 m of 0.71 grams per tonne ("g/t") gold including 6.5 m of 1.76 g/t gold 185 m to the SW of drill hole 25SK-003, which intercepted 59 m of 1.59 g/t gold. Highlights from the final four 2025 holes and key findings at Sakami include: 26.0 m of0.71 g/t gold including 6.5 m the 1.76 g/tgold in drill hole 25SK-005; 22.2 m of 0.83 g/t gold including 2.9 m of 1.71 g/t gold and 1 m of 8.62 g/t gold in drill hole 25SK-007; Near surface gold mineralization footprint has been significantly increased with limited drilling, proving overall continuity and predictability - key for an eventual mineral resource estimate; The 2025 diamond drilling program utilized oriented core and preliminary interpretations indicate that the drilling was predominantly orthogonal to the gold mineralized structure. Main intervals - Au grade no less than 0.25g/t*m with grade is no less than 0.25 g/t, maximum consecutive dilution 6m; All 2025 drill holes completed at La Pointe Extension intercepted zones of intense silicification with sulphide mineralization containing broad zones of gold mineralization in two sub-parallel zones with higher grade cores. Fury is currently working on an updated geological model incorporating the new drill data into the existing database, with a goal of advancing it to the resource stage in the near future. During the 2025 field campaign a soil grid was completed 10 km to the west of La Pointe extension along a regional fault splay off of the main La Grande - Opinaca suture zone. Further field work is being contemplated to potentially advance the soil anomalies to a drill ready stage. Sampling and Assaying Disclosure: 2025 Fury Drilling: Analytical samples for the Drill Program were taken by sawing NQ diameter core into equal halves on site with one half sent to ALS Chemex in Sudbury, Ontario, Canada for preparation and analysis. Valerie Doyon, P.Geo, Senior Project Geologist at Fury, is a "qualified person" within the meaning of Canadian mineral projects disclosure standards instrument 43-101 and has reviewed and approved the technical disclosures in this press release. New Risk • Nov 20
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 25% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (CA$11m net loss in 2 years). Shareholders have been diluted in the past year (25% increase in shares outstanding). New Risk • Nov 15
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 33% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 33% per year for the foreseeable future. Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (CA$11m net loss in 2 years). Market cap is less than US$100m (CA$133.9m market cap, or US$95.5m). Announcement • Nov 11
Fury Gold Mines Limited Announces Results from the 2025 Exploration Drilling Program At the Committee Bay Project Fury Gold Mines Limited announced the results from the 2025 exploration drilling program at the Committee Bay project, located in the eastern Kitikmeot region of Nunavut, Canada The 2025 drilling program comprised six (6) diamond drill holes totaling approximately 2,778 metres (m). Four of the drill holes (2,041m), targeting expansion of the Three Bluffs Shear Zone intercepted gold mineralization across 315m of strike with mineralized widths of up to 19.5m, including 5.73 grams per tonne (g/t) gold across 3.0m within a broader interval of 1.18 g/t gold over 19.5m (Hole 25TB155), which ended in the mineralized zone The remaining two drill holes, which totaled 737m, tested the southern contact of the 8 kilometre (km) long Raven Shear Zone, which historically returned drill intercepts of up to 12.60 g/t gold over 5.49m and 31.1 g/t gold across 2.8m with outcropping gold mineralization defined over 1.4 km. Hole 25RV015, which was a 330m step-out from previous drilling intercepted 4.59 g/t gold over 1.5m. The high-grade Three Bluffs Gold deposit is located centrally within the Committee Bay project and is estimated to contain 524,000 oz of gold in 2.1 million tonnes (Mt) at 7.85 g/t gold in the indicated mineral resource category and 720,000 oz in 2.9Mt of gold at 7.64 g/t gold in the inferred mineral resource category Drilling in 2021 at Three Bluffs intercepted three zones of mineralization: 13.93 g/t gold over 10m; 18.67 g/t gold over 3m; and 23.2 g/t gold over 1m. The first two noted intercepts occur outside of the main iron formation in sheared metasediments. The shear hosted mineralization runs sub-parallel to the main iron formation and was not previously targeted. The 2025 drilling at Three Bluffs targeted the sub-parallel shear zone as well as the iron formation itself with four step-outs from the 2021 intercept. All four drill holes intercepted broad zones of sulphide bearing silica-sericite alteration within sheared metasediments. Gold mineralization was intercepted across 315m of strike. Hole 25TB155, which ended in mineralization (due to drilling complications) intercepted 1.18 g/t over 19.5m, including 5.73 g/t gold across 3.0m. The mineralization intercepted to date within the Three Bluffs Shear Zone runs sub parallel to the over 4 km long Three Bluffs Gold deposit. The 2025 drilling at Three Bluffs has shown that the sheared metasediments are mineralized across broad widths and significant strike extent. Further drilling will utilize the 2021 and 2025 results to vector in on higher grade shoots within the shear zone. The Raven prospect is located in the southwest third of the Committee Bay gold belt, approximately 50 km west of the Three Bluffs deposit. The 2025 drilling program targeted the southern boundary of a regional shear zone where a previously undrilled gold-bearing outcrop was discovered in 2021. Seven rock grab samples collected from this outcrop in 2021 averaged 16.12 g/t gold
Raven lies within an 8 km long east – west oriented shear zone where gold mineralization has been identified over a 1.4 km footprint to date. Two drill holes were completed in 2025 for approximately 737m. Drill hole 25RV015 extended mineralization 330m to the west of historical drilling intercepting 4.59 g/t gold over 1.5m in an arsenopyrite bearing silica-sericite altered felsic volcanic proximal to the southern boundary of the Raven Shear. Drill hole 25RV016 intercepted a zone of strong silica sericite alteration with abundant quartz veining and arsenopyrite, which returned an intercept of 1.01 g/t gold across 14.5m, including 4.65 g/t gold of 1.5m. The two reported Raven intercepts are 430m apart Bryan Atkinson, P.Geo, Senior Vice President Exploration at Fury, is a “qualified person” within the meaning of Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed and approved the technical disclosures in this news release. Analytical samples were taken by sawing NQ diameter core into equal halves on site and sent one of the halves to AGAT Lab in Thunder Bay, ON for preparation and gold assay and then to AGAT Lab in Calgary, AB for multielement analysis. All samples are assayed using 50g nominal weight fire assay with atomic absorption finish (AGAT method 202-551) and multi-element four acid digest ICP-OES/MS method (AGAT method 201-071). For a series of samples from the interval of high gold variability in hole 25TB153 assay were repeated with metallic screening procedure (AGAT method 202-121) on a 1000g pulp split. QA/QC programs using internal standard samples, field and lab duplicates and blanks indicate good accuracy. Announcement • Oct 22
Fury Gold Mines Limited Commences 10,000-Metre Drill Program at Eau Claire and Provides an Update on the Kipawa Rare Earths Project Fury Gold Mines Limited announced that it has commenced a 10,000-metre fall/winter drilling program at its wholly owned Eau Claire Gold Project ("Eau Claire" and the "Project"), located in the Eeyou Istchee Territory in the James Bay region of Quebec. The program is based on recommendations from the recent Eau Claire PEA and will focus on resource growth and enhancing the mine plan. Two drill rigs are currently active at site. The fall/winter 2025 drill program at Eau Claire, comprising approximately 10,000 metres, will focus on: Expanding resources along high-grade shoots, which were highlighted in the PEA mineable portion of the resource; Connecting the current resource outside of the PEA mineable portion to bring more of the existing gold ounces into an eventual development scenario; and Continuing to identify additional resource growth opportunities. Kipawa Heavy Rare Earths Project: Although Fury's core focus remains on precious metals, the Company is pleased to provide an update on the Kipawa rare earths project in Quebec, given recent attention and increased valuations to rare earth projects globally. Since acquiring this project as part of the Quebec Precious Metals acquisition in the first quarter of this year, Fury has primarily focused on re-initiating dialogue with local community members and First Nations. The first step has been the establishment of a new community council comprised of local and First Nation leadership representation, which includes one Fury representative. The Company goal is to work collaboratively with this Committee and the Quebec Government to establish next steps to put this project back on a positive pathway for the benefit of all. The Project is located 50 km east of Temiscaming and 440 km north of Toronto in southwestern Quebec and covers approximately 4,300 hectares. Kipawa is host to historical Proven and Probable Reserves of 19.8 million tonnes grading 0.411% total rare earth oxides (TREO). The historical reserve estimation for Kipawa completed for Matamec Explorations Inc. was first disclosed in a technical report entitled: Feasibility Study for the Kipawa Project Temiscamingue Area, Quebec, Canada with an effective date of September 4, 2013. The Historical Reserve Estimates for Kipawa have not been sufficiently reviewed by Fury to be deemed current mineral reserves. Fury does not treat these historical reserve estimates as current. Announcement • Oct 15
Fury Gold Mines Limited announced that it has received CAD 18.00015 million in funding On October 14, 2025, Fury Gold Mines Limited closed the transaction. As consideration for its services under the Offering, the Agents
received cash compensation equal to 6.0% of the gross proceeds raised under the Offering. An insider of the Company participated in the Offering through the purchase of 10,000 FT Shares. Recent Insider Transactions • Oct 01
CEO & Director recently bought CA$140k worth of stock On the 29th of September, Forrester Clark bought around 150k shares on-market at roughly CA$0.93 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Forrester has been a buyer over the last 12 months, purchasing a net total of CA$225k worth in shares. Announcement • Sep 23
Fury Gold Mines Limited announced that it expects to receive CAD 18.00015 million in funding Fury Gold Mines Limited announced a private placement to issue 9,915,000 national charity flow through units at a price of CAD 1.12 per CFT unit for gross proceeds of CAD 11,997,150 and 6,003,000 traditional flow through shares at a price of CAD 1 per FT share for gross proceeds of CAD 6,003,000; for aggregate gross proceeds of CAD 18,000,150 on September 22, 2025. Each Traditional FT Share will be a common share of the Company that will qualify as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada). Each Charity FT Unit will consist of one Share of the Company that will qualify as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada) plus one-half of one common share purchase warrant. Each whole Warrant will entitle the holder thereof to purchase one Share at an exercise price of CAD 1.20 for 24 months following completion of the offering. In addition, the Company has agreed to grant to the Agents an over-allotment option exercisable, in whole or in part, at the sole discretion of the Agents, to sell up to an additional number of Charity FT Units and/or Traditional FT Shares in any combination equal to 15% of the total Charity FT Units and Traditional FT Shares issuable pursuant to the Offering, at the respective issue prices for a period of up to 48 hours prior to closing of the Offering. The transaction is expected to close on or about October 10, 2025 and is subject to the approval of the Toronto Stock Exchange and the NYSE American LLC. The Company has agreed to pay the Agents a cash commission of up to 6% of the gross proceeds raised under the Offering. Announcement • Sep 04
Fury Gold Mines Limited Announces Additional Results from the Inaugural Drill Campaign At the Sakami Gold Project Located in the Eeyou Istchee Territory in the James Bay Region of Northern Quebec Fury Gold Mines Limited announced additional results from the inaugural drill campaign at the Sakami gold project located in the Eeyou Istchee Territory in the James Bay region of Northern Quebec. The 2025 diamond drill program focused on the down plunge and along strike extensions from historical drill intercepts, as well as exploring the previously undrilled Juliette geophysical anomaly. A total of 3,685 metres (m) have been completed in seven holes spanning approximately 2.5 kilometres (km) of a 23 km long district-scale gold mineralized structure. As with drill hole 25SK-001, a high-grade core of gold mineralization is present within the broader intervals, which includes up to 27.7 m of 2.02 g/t gold and 3.0 m of 9.32 g/t gold from drill hole 25SK-003. Additionally, drill hole 25SK-002 intercepted high-grade silver mineralization, 1.5 m of 546 g/t silver from269.0 m downhole, in a moderately strained amphibole altered mafic volcanic unit that has seen little to no historical sampling. The 2025 diamond drill campaign at Sakami is now complete, and the Company looks forward to receiving the results from the remaining four drill holes in the coming weeks. The Sakami project covers approximately 14,250 hectares (ha) 30 km to the east of the paved Billy Diamond Highway. Historical drilling has intercepted gold mineralization across widths of up to 75 m and to a depth of up to 500 m below surface. All 2025 drill holes completed at La Pointe Extension have intercepted zones of intense silicification with sulphide mineralization typical of the previously identified gold mineralization. The other 2025 drill hole targeted the previously undrilled JulietTE target, located 1 km south of La Pointe Extension. Sampling and Assaying Disclosure. Analytical samples for the Drill Program were taken by sawing NQ diameter core into equal halves on site with one half sent to ALS Chemex in Sudbury, Ontario, Canada for preparation and analysis. Val rie Doyon, Senior Project Geologist at Fury, is a "qualified person" within the meaning of Canadian mineral projects disclosure standards instrument 43-101 and has reviewed and approved the technical disclosures in this press release. Announcement • Sep 03
Fury Gold Mines Limited Announces Results of Preliminary Economic Assessment for the Eau Claire Gold Deposit with A Base Case Fury Gold Mines Limited announced results from a preliminary economic assessment (PEA) for the high-grade Eau Claire deposit located in the Eeyou Istchee Territory of the James Bay region of Quebec. The PEA represents an initial conceptual evaluation of the economic potential of Eau Claire's mineral resources and was prepared in accordance with National Instrument 43-101 ("NI 43-101") by SGS Geological Services. All dollar amounts are in Canadian dollars unless otherwise specified. Three scenarios, all based on the same mine plan, were evaluated, each returning an after-tax net present value at a 5% discount rate ("NPV5") and after-tax internal rate of return ("IRR") at a gold price of USD 2,400 perounce ("oz")): Full standalone operation with all processing on site (the "Base Case"); After-tax NPV5 of $554 million and after-tax IRR of 41%; Hybrid case starting with two years of toll milling, followed by full standalone crushing, milling, and processing on site (the "Hybrid Case")): After-tax NPV5 the $610 million and after-tax IR Rilling Case of 53%; Full toll milling scenario, processing mineralized material off-site at a third-party facility (the "Toll Milling Case")): After-taxNPV5 of $639 million and after-tax IRC of 84% Highlights: Total recovered gold production of 834koz gold at an average diluted head grade of 4.46 g/t gold; Average annual production projected to be approximately 76k oz gold over an 11-year life of mine ("LOM") at an all-in sustaining cost ("AISC") of USD 1,140/oz for the Base Case; USD 1,153/oz for the Hybrid Case, and USD 1,170/oz of gold for the Toll Milling Case. The process plant tailings will be pumped to the TSF through an approximate 2 km pipeline and will be thick before deposition. The reclaimed water system will consist of a reclaim barge equipped with reclaim water pumps. The power demand of the overall Eau Claire site is approximately 9.3 MW. Electric will be supplied to the site at a voltage le vel of 120 kV originating from the nearby Hydro-Quebec substation, approximately 18 km away. At site, the substation will lower the incoming voltage (120 kV from Hydro-Quebec) to 4.16 kV using a main transformer, rated 120kV - 5 kV, 10/12.5 MVA, and will supply power to all operations on site. Capital and Operating Cost Estimates: The initial capital is estimated to range between $117 million and $217 million with an additional $66 million in sustaining capital. The PEA is based on contract mining. Operating costs were developed from unit costs for projects of a similar scale in Canada. Approximately 25% of the project team is made up of members from local Indigenous groups, and two of the Company's primary contractors are First Nations-owned companies. Since acquiring the Eau Claire project in 2020, Fury has prioritized early and ongoing engagement with Indigenous groups and stakeholders. This includes sharing project updates, creating opportunities for feedback, and supporting community involvement. The Company's Indigenous Relations Policy is guided by principles of respect, partnership, and cultural understanding and reflects Fury's commitment to working within Canada's legal framework and the spirit of the United Nations Declaration on the Rights of Indigenous People (UNDRIP). The Company recognizes that ability to contribute is linked to the development of effective, positive, and proper relationships, and to foster these relationships, are working in the spirit of partnership and cooperation to enhance understanding of each of the Indigenous communities and groups engage with. Fury continues to support Indigenous Communities through jobs, training, contracting opportunities, and sponsorship of local events. New Risk • Aug 14
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$13m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$13m free cash flow). Earnings have declined by 50% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$121.8m market cap, or US$88.2m). Announcement • Aug 12
Fury Gold Mines Limited Intercepts 41.5 Metres of 1.23 g/t Gold at Sakami Gold Project in Quebec Fury Gold Mines Limited announced initial results from the inaugural drill campaign at the Sakami gold project located in the Eeyou Istchee Territory in the James Bay region of Northern Quebec. Drill hole 25SK-001 is the first of six holes drilled to date, and was designed to test the down plunge extension of gold mineralization intercepted in historical drilling and has intercepted five distinct zones of gold mineralization across a 140-metre (m) drilled length; Notably, within the two broader intercepts of 11.8 m and 41.5 m, hosted within intense pervasive silicification, there is a high-grade core that includes intercepts of up to 7 m of 3.15 g/t gold. The Company has completed a total of 3,160 m of drilling in six drill holes to date, including one at the previously undrilled Juliette target, with another currently underway, and is looking forward to receiving additional results over the coming weeks. Historical drilling has intercepted gold mineralization across widths of up to 75 m and to a depth of up to 500 m below surface. All five drill holes completed to date at La Pointe Extension have intercepted zones of intense silicification with sulphide mineralization typical of the previously identified gold mineralization. The reported intercepts from drill hole 25SK-001, 4.7 m of 2.72 g/t gold; The reported intercepts from drill holes 25SK-001,4.7 m of 2. 72 g/t gold; The reports intercepts from drill hole 25 SK-001, 4.7m of 2.72 g/T gold; The reported intercepts of the drilling completed to date by Fury at the Sakami gold project. 25SK-001 section showing the location of the reported 2025 drill intercept in relation to historical drilling. The knowledge gained from this reasons campaign has given technical team confidence not only on the continuity and scale of gold mineralization at the La Pointe Extension target but also of the prospectivity of the entire 23.5 km long structure that first drew to the Sakami project which includes the Juliette target 1 km to the SW of previous drilling where similar alteration and sulphide mineralization has been intercepted. Analytical samples for the Drill Program were taken by sawing NQ diameter core into equal halves on site with one half sent to ALS Chemex in Sudbury, Ontario, Canada for preparation and analysis. All samples were assayed using a 50 g nominal weight fire assay with inductively coupled plasma - atomic emission spectrometry finish (Au-ICP22) and multi-element four acid digest ICP-AES/ICP-MS method (ME-MS61). Due to the unknown orientation of the zones downhole thickness was used. Fury considered this drill hole to be sufficiently anomalous to warrant its immediate release. Fury expects that it will generally continue to release drill results in batches unless unusual circumstances otherwise warrant. Fury expects that it will typically continue to release drill results in batch unless unusual circumstances otherwise warrant. Announcement • Jul 22
Fury Gold Mines Limited Reports Encouraging Metallurgical Test Results from the Ninaaskumuwin Lithium Discovery at Elmer East Fury Gold Mines Limited announced preliminary metallurgical test results on its Ninaaskumuwin lithium discovery in the Eeyou Istchee James Bay Territory of Northern Quebec. The objective of the metallurgical test work was to characterize the mineralogy and metallurgical properties of the spodumene-bearing pegmatite intercepted in drilling. Results from the preliminary test work indicate that the Ninaaskumuwin lithium mineralization is enable to conventional lithium extraction techniques with Heavy Liquid Separation resulting in recovery of 62.2% Lithium and a concentrate grade of 5.59% Li O from a single composite sample. The metallurgical test work paired with the recently released drilling results of 32.35 (metres) m of 1.16% Li O indicates that the Ninaaskumu win lithium discovery warrants additional work. Highlights from the test work: Samples analysed contain up to 42% spodumene; Spodumene is the sole lithium-bearing mineral identified; The company encouraged by the metallurgical results from the metallurgical results from its newly acquired lithium asset in Quebec. A mineralogical study of 58 samples selected from drill holes EE24-002 and EE24-003 was performed using an ECORE hyperspectral drill core scanner. The mineralogical compositions are summarized below: High percentage of spodumene (up to 42); Abundance of albite (up to 70%), K-Feldspar (up to 42%) and quartz (up to 99%), and muscovite (up to 19%). The Ninaaskumuwin lithium prospect is located on Fury's 100% owned Elmer East project which covers approximately 45,735 hectares (ha). Ninaaskumuwin is easily accessible from the paved Billy Diamond highway, approximately 60 kilometres (km) north of the 'km 381' rest stop where accommodation, catering, fuel, and power are available. The discovery sits approximately 50 km north of Rio Tinto plc's Galaxy Lithium project, acquired in March 2025 as part of the acquisition of Arcadium Lithium plc for USD 6.7 billion. Drilling targeted a spodumene- bearing pegmatite outcrop, which returned surface samples of up to 3.92% Li O. Highlights from the drill campaign include 32.35m of 1.16% LiO from EE24-003 and 22.48m of 1.19% Li O fromEE24-002. Mineralogical analysis and metallurgical tests were conducted by IGS Impact Global Solutions Inc. ("IGS"), in their laboratory in Delson, Quebec. Metallurgical test work was completed by analysing HQ drill core samples prepared using IGS's procedure P/SMu/02 ISO-17025-version 2017 as follows: Drying Weighing Crushing P80 = 2 mm; Splitting (1/2, 1/4, 1/8, 1/16 a, 1/16 b); Preparation of a representative composite and division into subs samples of 500g each for testing. Announcement • Jul 14
Fury Gold Mines Limited Commences 2025 Drill Program at Committee Bay Fury Gold Mines Limited announced that the 2025 exploration drilling program has commenced at the Committee Bay project, located in the eastern Kitikmeot region of Nunavut, Canada. The 2025 drilling program will comprise 7 10 diamond drill holes totaling approximately 5,000 metres (m) focused on: expansion of the Three Bluffs Shear Zone target, testing regional shear zones along the southern contact of the 8 kilometre (km) long Raven shear zone, and testing regional shear zones at Burro West. The high-grade Three Bluffs Gold deposit is located centrally within the project and is estimated to contain 4524,000 oz. of gold in 2.1 million tonnes (Mt) at 7.85 g/t gold in the indicated mineral resource category and 720,000 oz. in 2.9Mt of gold at 7.64 g/t gold in the inferred mineral resource category. Drilling in 2021 at Three Bluffs intercepted 3 zones of mineralization: 13.93 g/t gold over 10 m; 18.67 g/t gold over 3 m; and 23.2 g/t gold over 1 m. The first two noted intercepts occur outside of the main iron formation in sheared metasediments. The Raven prospect is located in the southwest third of the Committee Bay gold belt, approximately 50 km west of the Three Bluffs deposit. Drilling will target a previously undrilled gold-bearing outcrop where results from seven samples collected to date average 16.12 g/t gold. This prospect lies along the southern boundary of an 8 km long east west oriented shear zone where gold mineralization has been identified over a 1.4 km footprint to date. The 2025 drilling will comprise two to three drill holes for approximately 1000 m. Newly identified high-grade gold mineralization is located along the southern boundary of the shear zone. Infill till sampling during 2024 at the Burro West target has identified a robust multi-point +90 percentile approximately 300 x 300 m gold in till anomaly. The Burro West anomaly is spatially associated with a break in the regional magnetics data, interpreted to represent a sheared contact between mafic volcanics and ultramafic lithologies. Drilling during 2025 will comprise one to two drill holes for approximately 500 m. Infill till sampling during 2022 at the Burro West target have identified a robust multi-point+90 percentile approximately 300 x 300m gold in till anomaly. TheBurro West anomaly is spat partially associated with a break in the Regional magnetics data, interpreted to represents a sheared contact between mAFic volcanics and ultramAFic lithologies. Drilling During 2025 will comprise one to two drilling holes for approximately 500 m. Announcement • Jul 10
Fury Gold Mines Limited Announces Drill Results from the Maiden Drill Program, Totaling 825 Metres (M) in 5 Holes, on Its Ninaaskumuwin Lithium Discovery At the Elmer East Project Located in the Eeyou Istchee James Bay Region of Quebec Fury Gold Mines Limited announced drill results from the maiden drill program, totaling 825 metres (m) in 5 holes, on its Ninaaskumuwin lithium discovery at the Elmer East project located in the Eeyou Istchee James Bay region of Quebec. The drilling targeted a spodumene-bearing pegmatite outcrop, which returned surface samples of up to 3.92% Li2O. Highlights from the drill campaign include 32.35m of 1.16% Li2O fromEE24-003 and 22.48m of 1.19% Li2O from EE24-002. The lithium mineralized spodumene-bearing Pegmatite remains open at depth and along strike, warranting additional drilling. Highlights: Thick spodumene-bearing square pegmatite (>32 m in thickness) was intersected in three holes with individual sample grades of up to 3.70% Li2O; Drill results confirm the vertical continuity of lithium mineralization to 150 m below surface; and The lithium-bearing pegmatite remains open along strike and to depth. The Ninaaskumuwin Lithium discovery is located on Fury's 100% owned Elmer East project, which covers approximately 45,735 hectares (ha). Ninaaskumuwin is easily accessible from the paved Billy Diamond highway, approximately 60 kilometres (km) north of the 'km 381' rest stop where accommodation, catering, fuel, and power are available. The discovery sits approximately 50 km north of Rio Tinto plc's Galaxy Lithium project, acquired in March 2025 as part of the acquisition of Arcadium Lithium plc for USD 6.7 billion. The drilling campaign targeted a spodumene -bearing pegmatite outcrop where limited sampling returned values of 1.10% to 3.92%Li2O from nine samples. Geophysics and geological mapping indicate that the spodumene-bearing holematite has a potential strike length of up to 3.8 km. All five drill holes intersected highly fractionated pegmatite with spodumene mineralization observed in three of the holes. A portion of the pegmatite is albite altered, in which spodumene is concentrated in bands of fine-grained crystals. The pegmatite is hosted in metasedimentary units, mainly matrix-supported conglomerate interbedded with wacke and coarse-grained sandstone. Highlights from the drill campaign includes 32.35m of 1.16% Li2O from the surface expression of the pegmatite dyke. For original disclosure on the 20th drill program, the lithium mineralized Spodumene- bearing pegmatite remains open at depth. Announcement • Jun 20
Fury Gold Mines Limited announced that it has received CAD 3.07977 million in funding from Agnico Eagle Mines Limited On June 20, 2025, Fury Gold Mines Limited closed the transaction. The company announced that it has issued 3,999,701 common shares of the Company that qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act at a price of CAD 0.77 per FT Share for total gross proceeds of CAD 3,079,800. One director of the Company purchased 52,000 FT Shares. The Private Placement, together with the Offering, resulted in the Company raising aggregate gross proceeds of CAD 3,374,600. The proceeds from the Private Placement will be used to advance the Company’s Committee Bay exploration program. In connection with the Offering, Agnico Eagle Mines Limited exercised its existing participation right and acquired 440,000 common shares of the Company at a price of CAD 0.67 per Common Share for gross proceeds of CAD 294,800. Announcement • Jun 18
Fury Gold Mines Limited Finalizes Drill Targeting at its Newly Acquired Sakami Gold Project in the Eeyou Istchee Territory in the James Bay Region of Northern Quebec Fury Gold Mines Limited announced that is has finalized a number of drill targets at the Sakami gold project located in the Eeyou Istchee Territory in the James Bay region of Northern Quebec. The first phase drilling campaign will commence in late June 2025 and will be comprised of approximately 3,000 - 5,000 metres (m), with three priorities; Discovery along a 23-kilometre (km) long gold-bearing structural corridor at the Juliette target; Confirm historical mineralized intercepts at the La Pointe and La Pointe Extension targets; 4.28 g/t Au over 4.5 m from drill hole PT17-102 and 3.89 g/t Au over 14.90 m from drill hole PT18-116. The Sakami project covers approximately 14,250 hectares (ha) 30 km to the east of the paved Billy Diamond Highway. The Project straddles the prospective structural corridor marking the contact between the Opinaca and La Grande Geological subprovinces, where gold mineralization has been identified across over 23 km. Two distinct styles of mineralization have been identified to date within the property boundaries: structurally controlled quartz veins hosted within sedimentary rocks similar to the high-grade mineralization observed at the Eleonore Mine; and intrusion-related disseminated gold mineralization similar to that seen within the Cheechoo Tonalite. The first phase of drilling was completed in the Spring of 2025, comprising 12 diamond drill holes for approximately 4,930 m across a 2 x 3 km target area. The drilling targeted axial planar structures within the core of the folded Low Formation sediments with associated gold and multi-element biogeochemical anomalies. Numerous untested targets remain within the six square kilometre target area, which warrant follow-up in future drill campaigns. Analytical samples for the Drill Program were taken by sawing NQ diameter core into equal halves on site with one half sent to ALS Chemex in Sudbury, Ontario, Canada for preparation and analysis. All samples were assayed using a 50 g nominal weight fire assay with inductively coupled plasma - atomic emission spectrometry finish (Au-ICP22) and multi-element four acid digest ICP-AES/ICP-MS method (ME-MS61). Technical and scientific information disclosed from neighboring properties does not necessarily apply to the current project or property being disclosed. Announcement • Jun 06
Fury Gold Mines Limited announced that it expects to receive CAD 2.5 million in funding Fury Gold Mines Limited announced a non-brokered private placement with a small group of accredited and institutional investors in Canada to issue up to 3,246,753 flow-through common shares of the Company, at a price of CAD 0.77 per Share for total gross proceeds of up to CAD 2,499,999.81 on June 5, 2025. The Offering is expected to close on or about June 19, 2025, subject to execution of subscription agreements and customary closing conditions, including receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and the NYSE American LLC. Although the Offering is not brokered, the Company may pay finder’s fees of up to 6% from its current working capital for assistance with this financing to persons eligible to receive such fees. All Shares issued pursuant to the Offering will be subject to a statutory hold period of four months and a day from the Closing Date in accordance with applicable Canadian securities laws. Announcement • Jun 03
Fury Gold Mines Limited Announces 2025 Exploration Plans At Committee Bay Fury Gold Mines Limited provided an update on exploration plans for the Committee Bay project, located in the eastern Kitikmeot region of Nunavut, Canada. The 2025 Committee Bay exploration program will commence in early July 2025 and will comprise 7 - 10 diamond drill holes totaling approximately 5,000 metres (m). Drilling will have three primary goals: Expansion of the Three Bluffs Shear Zone target first identified in 2021 where drill hole 21TB152 intercepted three discrete zones of high-grade gold mineralization over a 30 m drill width, including 10.0 m of 13.93 g/t gold, 3.0 m of 18.67 g/t gold and 1.0 m of 23.2 g/t gold in a 120 m step-out from the defined mineral resource. Testing regional shear zones along the southern contact of the 8 kilometre (km) long Raven shear zone where samples of up to 32.90 g/t gold have been returned from an undrilled outcrop. The Committee Bay project spans the entire 300 km long Committee Bay Greenstone belt in the eastern Kitikmeot region of Nunavut. The land package comprises a series of mineral claims and leases covering approximately 250,000 hectares, encompassing the Three Bluffs Gold deposit, more than five advanced gold targets, and several significant gold anomalies. The high-grade Three Bluffs Gold deposit is located centrally within the project and is estimated to contain 524,000 oz. of gold at 7.85 g/t gold in the indicated mineral resource category and 720,000 oz. of gold in the inferred mineral resource category. Drilling in 2021 at Three Bluffs intercepted 3 zones of mineralization: 13.93 g/t gold over 10 m; 18.67 g/t gold over 3 m; and 23.2 g/t gold over 1 m. The first two noted intercepts occur outside of the main iron formation in sheared metasediments with gold occurring at the apexes of the crenulations. The Raven prospect is located in the southwest third of the Committee Bay gold belt, approximately 50 km west of the Three Bluffs deposit. Drilling will target a previously undrilled gold-bearing outcrop where results from seven samples collected to date average 16.12 g/t gold at Raven South with three to four drill holes totaling approximately 2,000 m. This prospect lies along the southern boundary of an 8 km long east - west oriented shear zone where gold mineralization has been identified over a 1.4 km footprint. The Burro West anomaly is spatially associated with a break in the regional magnetics data, which is interpreted as a sheared contact between mafic volcanics and ultramafic lithologies. Drilling during 2025 will comprise two to three drill holes for approximately 750 m. Announcement • May 28
Fury Gold Mines Limited announced that it has received CAD 4.30592 million in funding from Agnico Eagle Mines Limited Fury Gold Mines Limited announced a non-brokered private placement and it has entered into a subscription agreement with Agnico Eagle Mines Limited to issue 6,728,000 units at an issue price of CAD 0.64 per unit for gross proceeds of CAD 4,305,920 on May 26, 2025. Each unit consists of one common share and one common share purchase warrant. Each warrant is exercisable to purchase one share at CAD 0.80 for a 36-month period from the date of issuance. Agnico previously acquired 3,750,000 shares (2.3% of 160,332,345 issued shares) and this investment increases Agnico’s basic ownership to 6.3% of company's issued shares and its defined ownership interest to 9.9% calculated on a partially diluted basis. All shares, warrants and any shares issued on exercise of warrants will have a four-month resale restricted hold period in Canada. Announcement • Apr 29
Fury Gold Mines Limited (TSX:FURY) completed the acquisition of Quebec Precious Metals Corporation (TSXV:QPM). Fury Gold Mines Limited (TSX:FURY) entered into an agreement to acquire Quebec Precious Metals Corporation (TSXV:QPM) for CAD 4.2 million on February 25, 2025. The holders of the issued and outstanding QPM Shares will receive 0.0741 Fury Shares for each one QPM Share held. Upon completion of the transaction, Fury will continue to be listed on the TSX and NYSE American under the same Fury name and ticker symbol. Under certain circumstances, either Fury or QPM would be entitled to a termination fee of CAD 0.2 million. Upon closing of the Transaction, the board of directors of Fury will remain unchanged to lead the combined management and project teams. The head office will continue to be in Toronto, Canada. Normand Champigny will be appointed as a strategic advisor to Fury and Fury’s representative for the Kipawa project. Following completion of the Transaction, QPM Shares will be delisted from the TSXV and QPM will cease to be a reporting issuer under Canadian securities laws.
After consultation with its legal advisors, the board of directors of Fury and QPM unanimously approved the transaction. The transaction is subject to to a number of terms and conditions, including without limitation the following: (a) approval of a special majority of the QPM shareholders, as described below; (b) acceptance of the relevant stock exchanges (TSX, NYSE American and TSX Venture Exchange (TSXV)); (c) approval of the Quebec Superior Court; (d) there being no material adverse changes in respect of either Fury or QPM. Special Committee is formed by the Board of Directors of Quebec Precious Metals. As of April 22, 2025 QPM Shareholders overwhelmingly voted in favour of the special resolution to approve the previously announced plan of arrangement under Section 192 of the Canada Business Corporations Act with Fury Gold Mines Ltd. QPM will seek a final order of the Superior Court of Québec to approve the Arrangement on April 25, 2025. The Transaction is not subject to approval by the shareholders of Fury The transaction is expected to close by the end of April 2025. As per the announcement dated March 26, 2025, Fury has secured the conditional approval of the TSX and NYSE.QPM has now secured the required no-objection letter from Corporations Canada American and schedule with an anticipated completion prior to April 30, 2025. As of April 22, 2025 it is expected that the Arrangement will be completed on or about April 28, 2025.
Evans & Evans, Inc. acted as a financial advisor and Fairness opinion provider to Quebec Precious Metals. Gilles Seguin and Julien Lefebvre of BCF LLP acted as a legal advisor to Quebec Precious Metals. Michael Taylor of McMillan LLP acted as a legal advisor to Fury Gold Mines. Computershare Investor Services Inc acted as a Transfer agent to Quebec Precious Metals. Odyssey Trust Company acted as a Transfer agent to Fury Gold Mines.
Fury Gold Mines Limited (TSX:FURY) completed the acquisition of Quebec Precious Metals Corporation (TSXV:QPM) on April 28, 2025. Trading of the QPM Shares on the TSX Venture Exchange (the “TSXV”) has been halted and will remain halted until the QPM Shares have been delisted from the TSXV, which is expected to be on or approximately by April 30, 2025. The QPM Shares will also be delisted from the Frankfurt Stock Exchange. Announcement • Apr 25
Fury Gold Mines Limited, Annual General Meeting, Jun 26, 2025 Fury Gold Mines Limited, Annual General Meeting, Jun 26, 2025. New Risk • Apr 01
New major risk - Revenue and earnings growth Earnings have declined by 28% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$11m free cash flow). Earnings have declined by 28% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable next year (CA$5.3m net loss next year). Market cap is less than US$100m (CA$86.4m market cap, or US$60.3m). Announcement • Feb 27
Fury Gold Mines Limited (TSX:FURY) entered into an agreement to acquire Quebec Precious Metals Corporation (TSXV:QPM) for CAD 4.2 million. Fury Gold Mines Limited (TSX:FURY) entered into an agreement to acquire Quebec Precious Metals Corporation (TSXV:QPM) for CAD 4.2 million on February 25, 2025. The holders of the issued and outstanding QPM Shares will receive 0.0741 Fury Shares for each one QPM Share held. Upon completion of the transaction, Fury will continue to be listed on the TSX and NYSE American under the same Fury name and ticker symbol. Under certain circumstances, either Fury or QPM would be entitled to a termination fee of CAD 0.2 million. Upon closing of the Transaction, the board of directors of Fury will remain unchanged to lead the combined management and project teams. The head office will continue to be in Toronto, Canada. Normand Champigny will be appointed as a strategic advisor to Fury and Fury’s representative for the Kipawa project. . Following completion of the Transaction, QPM Shares will be delisted from the TSXV and QPM will cease to be a reporting issuer under Canadian securities laws.
After consultation with its legal advisors, the board of directors of Fury and QPM unanimously approved the transaction. The transaction is subject to to a number of terms and conditions, including without limitation the following: (a) approval of a special majority of the QPM shareholders, as described below; (b) acceptance of the relevant stock exchanges (TSX, NYSE American and TSX Venture Exchange (TSXV)); (c) approval of the Quebec Superior Court; (d) there being no material adverse changes in respect of either Fury or QPM. The Transaction is not subject to approval by the shareholders of Fury The transaction is expected to close by the end of April 2025. Announcement • Feb 03
Fury Gold Mines Limited Commences 2025 Drilling Program At the Eleonore South Gold Project Fury Gold Mines Limited announced that a drill has been mobilized to the greenfield exploration Éléonore South gold project located in the Eeyou Istchee Territory in the James Bay region of Northern Quebec. Drilling will target robust multi-faceted geological, geophysical, and geochemical gold anomalies within the same sedimentary rock package that hosts the Éléonore Mine. The fully funded first phase drilling campaign will comprise approximately 4,000 – 6,000 metres (m) targeting an interpreted fold nose within the Low Formation sediments. Within the prospective folded stratigraphy are six undrilled priority targets spanning over 3 kilometres (km) of strike length that have been identified through a combination of biogeochemical sampling and interpretation of magnetics and electromagnetics survey data (Figure 2)(see news release dated November 12, 2024). The first phase of drilling will be focussed within a northwest-southeast structural corridor where a strong correlation between anomalous gold, stratigraphy, and structure has been identified (Figure 2). The drill targets occur in a structurally complex setting with little to no outcrop exposure and the targeting model will evolve with each hole drilled. The Company plans to complete approximately 15 of the 77 permitted drill holes as part of the first phase of drilling and will guide additional drilling based on the results and observations from this phase. The Éléonore South project is strategically located in an area of prolific gold mineralization with Newmont’s Éléonore Mine to the north and Sirios’ Cheechoo Deposit to the east (Figure 1). Two distinct styles of mineralization have been identified to date: structurally controlled quartz veins hosted within sedimentary rocks similar to the high-grade mineralization observed at the Éléonore Mine (Table 1); and intrusion-related disseminated gold mineralization similar to that seen within the Cheechoo Tonalite. The planned first phase of drilling will target axial planar structures within the core of the folded Low Formation sediments (Figures 2 and 3). The program will be designed to intercept the interpreted structures at various depths along strike. The geological data gained from each drill hole will be reincorporated into the targeting matrix to further evolve the targeting model. Interpretation of the geophysical data in three dimensions paired with Fury’s updated geological model shows the target areas lie within the core of a westerly plunging regional scale fold nose. The target gold anomalies highlight discrete secondary fold structures and lie along a series of interpreted deep-rooted structures (Figure 3). Pristine gold grains, from historical work in the area, were identified down ice from the targets. These gold grains were interpreted to be near to source with minimal transport likely ruling out currently known bedrock gold sources in the project area adding further weight to the prospectivity of the biogeochemical gold targets (Figure 2). Biogeochemical samples were taken by collecting approximately 200 grams of black spruce twigs and sent to ALS Lab in Vancouver, BC (ISO/IEC 17025:2017 and ISO 9001:2015 accredited facility) for preparation and analysis. Preparation included drying, separation of needles from twigs and ashing of needles only at 475°C for 24 hours (VEG-ASH01). Ashed samples are analyzed for 65 elements using nitric/hydrochloric acid digestion with ICP-MS finish (ME-VEG41a). QA/QC programs using lab duplicates, standards, and blanks indicate good accuracy. Announcement • Dec 13
Fury Gold Mines Limited Provides 2025 Exploration Update Fury Gold Mines Limited announced that Fury will commence its 2025 exploration season with a 3,000 – 5,000 m diamond drilling program at the Éléonore South gold project in Quebec. This program will focus on six robust geochemical targets across over 3 kilometres (km) of prospective folded sedimentary stratigraphy. These six targets encompass multi-point biogeochemical gold anomalies and correlate with pathfinder elements, most notably arsenic which is associated with gold mineralization at the Éléonore Mine. New Risk • Nov 14
New major risk - Revenue and earnings growth Earnings have declined by 2.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$14m free cash flow). Earnings have declined by 2.1% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (4.1% increase in shares outstanding). Market cap is less than US$100m (CA$86.4m market cap, or US$61.6m). Announcement • Nov 13
Fury Gold Mines Limited Finalizes Six Éléonore Style Drill Targets At the Éléonore South Gold Project Fury Gold Mines Limited announced that it has finalized drill targeting after completing aicial geochemical survey at the Eleonore South gold project located in the Eeyou Istchee Territory in the James Bay region of Quebec. Drilling will target robust geochemical gold anomalies within the same sedimentary rock package that hosts Newmont's Eleonore Mine. The completed biogeochemical sampling survey covered an interpreted fold nose within the Low Formation sediments where an orientation level study identified a large-scale gold anomaly in a similar geological, geophysical, and structural setting to that of the nearby Eleonore Mine. Six priority drill targets across over 3 kilometres (km) of prospective folded sedimentary stratigraphy have been identified. These six targets encompass multi point gold anomalies above the 90th percentile of the data and correlate with moderate pathfinder elemental anomalies, most notably arsenic which is associated with gold mineralization at the Eleonore Mine. The Company intends to mobilize crews in First Quarter 2025 for an initial fully funded 3,000 - 5,000 metre (m) diamond drilling program. The Eleonore South project is strategically located in an area of prolific gold mineralization with Newmont's Eleonore mine to the north and Sirios' Cheechoo Deposit to the east. Two distinct styles of mineralization have been identified to date: structurally controlled quartz veins hosted within sedimentary rocks similar to the high-grade mineralization observed at the Eleonore Mine; and intrusion-related disseminated gold mineralization similar to that seen at the low-grade bulk tonnage Cheechoo Deposit with higher grade potential as seen at the JT and Moni prospects on the project. A total of 2,106 biogeochemical samples were collected at 50 m intervals along 100 m spaced north-south oriented survey lines covering an area of 4.2 x 1.9 km. The survey was designed to infill on anomalies identified in an orientation level survey announced earlier this year as well as to test the core of the interpreted fold. The geophysical magnetic data paired with Fury's updated geological model show the six target areas lie within the core of an east plunging regional scale fold nose. The target gold anomalies highlight discrete secondary fold structures identifiable at the edges of magnetic highs. Pristine gold grains, from historical work in the area, were identified down ice from the targets. These gold grains were interpreted to be near to source with minimal transport likely ruling out currently known bedrock gold source in the project area adding further weight to the prospectivity of the biogeochemical gold targets. Biogeochemical Sampling: Biogeochemical samples were taken by collecting approximately 200 grams of black spruce twigs and sent to ALS Lab in Vancouver, BC (ISO/IEC 17025:2017 and ISO 9001:2015 accredited facility) for preparation and analysis. Preparation included drying, separation of needles from twigs and ashing of needles only at 475°C for 24 hours (VEG-ASH01). Ashed samples are analyzed for 65 elements using nitric/hydrochloric acid digestion with ICP-MS finish (ME-VEG41a). QA/QC programs using lab duplicates, standards, and blanks indicate good accuracy. Announcement • Oct 25
Fury Gold Mines Limited Completes 2024 Exploration Program At Committee Bay; Defines 3 Drill Ready Shear Zone Hosted Targets Fury Gold Mines Limited announced the completion of the 2024 exploration program at Committee Bay, located in the eastern Kitikmeot region of Nunavut, Canada. The Committee Bay property covers a 300 kilometre (km) long prospective greenstone belt hosting the high-grade Three Bluffs Gold Resource as well as numerous drilled and undrilled prospects. The 2024 exploration program prioritized follow-up and infill sampling of highly anomalous regional gold-in-till samples with unidentified sources. The exploration model focused on regional shear zones proximal to favourable lithologies such as iron formation and ultramafic lithologies. The program resulted in the collection of 546 infill till samples from two detailed grids, Burro West and Aarluk East, and 69 rock samples from 5 targets. The 2024 mapping and rock sampling focused on shear zones proximal to and sub-parallel to favourable lithologies for gold mineralization within the Committee Bay Greenstone Belt with samples being collected at Three Bluffs, Raven, Burro, Aarluk East and Aarluk West. The mapping and rock sampling at Three Bluffs was able to confirm the continuity of the interpreted shear zone that is sub-parallel to the Three Bluffs iron formation to the east of the reported 2021 intercept of 13.93 g/t gold over 10 m from drill hole 21TB152. The reported 2021 intercept was a 120 m step out from the defined high-grade Three Bluffs gold deposit which on its own demonstrates the potential to meaningfully expand the known resource. The mapped continuation of this sub-parallel shear zone to the east trends into an area where there is no historic drilling providing an excellent near deposit drill target. At Raven rock sampling and mapping has identified a mineralized sub parallel shear zone to the south of the main Raven showing where the average grade from seven rock samples collected is 16.12 g/t gold. The extensions along strike of the Raven south shear zone are obscured by glacial till deposits however, the average grade from outcrop sampling and prevalence of visible gold observed in the limited outcrop are encouraging and warrant drilling. Infill till sampling at the Burro West target has identified a robust multi point +90th percentile approximately 300 x 300 m gold in till anomaly. The Burro West anomaly is spatially associated with a break in the regional magnetics data which is interpreted as a sheared contact between mafic volcanics and ultramafic lithologies. Additionally, the highest gold value returned from all the 2024 infill till samples is located at the SW corner of the Burro West grid and remains open. The Aarluk East grid returned several intriguing moderate isolated gold in till anomalies associated with interpreted regional structures that require additional mapping work to potentially advance to the drill ready stage. The Committee Bay Project spans the entire 300 km long Committee Bay Greenstone belt in the eastern Kitikmeot region of Nunavut. The land comprises a series of mineral claims and leases covering 250,000 hectares. The high-grade Three Bluffs Gold deposit is located centrally within the Committee Bay project and is host to 524,000 oz. at 7.85 g/t gold in the indicated category and 720,000 oz. at 7.64 g/t gold in the inferred category. Two distinct styles of gold mineralization at Three Bluffs have been identified; intense sulphidization and silicification of banded iron formation and within sericite altered highly sheared meta-sediments. The two styles of mineralization are sub-parallel (Figure 1) with the sheared metasediments defining a regional shear zone. Announcement • Oct 07
Fury Gold Mines Limited Samples High-Grade Lithium from Outcrop At Eleonore South Fury Gold Mines Limited announced results from multiple lepidolite and spodumene-bearing pegmatite outcrops within the western claim block at its 100% owned Éléonore South gold project located in the Eeyou Istchee Territory in the James Bay region of Quebec. The outcrop sampling program targeted the historical Fliszar showing lepidolite bearing pegmatite as well as new rock exposures over an area of approximately 1000 x 500 metres (m) resulting in the collection of 34 samples. Seven samples returned high-grade values above 1.75% lithium oxide (Li2O) with a peak value of 4.67% Li2O. The Éléonore South project is strategically located in an area of prolific gold mineralization with Newmont's Éléonore Mine to the north and Sirios' Cheechoo deposit to the east (inset). Two distinct styles of gold mineralization have been identified to date; structurally controlled quartz veins hosted within sedimentary rocks, similar to the high-grade mineralization observed at the Éléonore Mine; and intrusion-related disseminated gold mineralization, similar to that seen at the lower-grade bulk tonnage Cheechoo deposit with potential for higher grades hosted in stockwork quartz veining as observed at the JT and Moni showings. The western claim block of the Éléonore South project has been relatively under-explored compared to the main claim block. Lepidolite-bearing pegmatite outcrops at the Fliszar showing were first discovered by Quebec Government geologists in 2006, and since that time, little to no exploration work to expand the occurrence has been completed. The 2023 forest fires in the area significantly increased outcrop exposure leading Fury's technical team to revisit the historical showing and explore the area in general. Lithium mineralization in both lepidolite and spodumene bearing pegmatites has now been defined over an approximate area of 1000 x 500 m. Further systematic exploration work will be carried out by Fury in order to define the overall Lithium potential of the western claim block. Fury, ES Rock Sampling Approximately 2-3kg of material was collected and sent to ALS Lab in Sudbury, Ontario, Canada for preparation and then to ALS Lab in Vancouver, BC, Canada for analysis. All samples are assayed using 30g nominal weight fire assay with ICP finish (Au-ICP21) and multi-element four acid digest ICP-AES/ICP-MS + REE method (ME-MS61r). Where Li-MS61r results were greater than 10,000 ppm analyses were repeated with assay grade lithium by Na2O2 fusion and ICP-AES (Li-ICP82b). QA/QC programs using lab duplicates, and lab standards and blanks indicate good overall accuracy and precision. Announcement • Sep 09
Fury Gold Mines Limited Announces Results from the 2024 Core Drilling Program Fury Gold Mines Limited announced results from the 2024 core drilling program at the greenfield Serendipity Prospect on its wholly owned Eau Claire project in the Eeyou Istchee Territory in the James Bay region of Quebec. The Serendipity Prospect lies within the same prospective geological setting as the Company's Percival Deposit. In total 3,871 metres (m) were drilled in 10 holes across five distinct targets at Serendipity. Drill hole 24SD-009 targeted a biogeochemical anomaly overlying the easterly extension of the structure controlling the mineralization at Serendipity and intercepted 12.16 g/t gold over 3.0 m (Figures 1 and 2, Table 1). Drill hole 24SD-002 targeted a biogeochemical anomaly at the hinge of an interpreted fold within volcanic stratigraphy and intercepted 5.27 g/t gold over 1.0 m. The two noted intercepts above are separated by over 2 kilometres (km) indicating the potential for a large mineralizing system at Serendipity. The Company is in the process of planning follow-up drilling at Serendipity for 2025. Sampling and Assaying Disclosure - 2024 Fury Drilling: Analytical samples for the Drill Program were taken by sawing NQ diameter core into equal halves on site with one half sent to ALS Chemex in Sudbury, Ontario, Canada for preparation and analysis. All samples were assayed using a 50 g nominal weight fire assay with inductively coupled plasma-atomic emission spectrometry finish (Au-ICP22) and multi-element four acid digest ICP-AES/ICP-MS method (ME-MS61). Where Au-ICP22 results were greater than 0.5 ppm Au the assay was repeated with a 50 g nominal weight fire assay with atomic absorption finish (Au-AA24). Samples containing more 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, field and lab duplicates and blanks indicate good overall accuracy and precision. New Risk • Aug 08
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$12m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$12m free cash flow). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (4.1% increase in shares outstanding). Market cap is less than US$100m (CA$73.5m market cap, or US$53.5m). Price Target Changed • Aug 01
Price target decreased by 19% to CA$1.50 Down from CA$1.85, the current price target is provided by 1 analyst. New target price is 183% above last closing price of CA$0.53. Stock is up 6.0% over the past year. The company posted a net loss per share of CA$0.12 last year. Announcement • Jun 20
Fury Gold Mines Limited Mobilizes Drill to the Serendipity Prospect At Eau Claire Fury Gold Mines Limited announced that a drill has been mobilized to the greenfield Serendipity Prospect on its wholly owned Eau Claire project in the Eeyou Istchee Territory in the James Bay region of Quebec. The Serendipity Prospect lies within the same prospective geological setting as the Company's Percival deposit. The Serendipity prospect is defined by 10 robust geochemical targets with up to 150 times background gold values proximal to the regional scale Hashimoto Deformation Zone. Limited historical drilling near Serendipity intercepted 7.9 metres (m) of 1.23 g/t gold; 12.1 m of 1.38 g/t gold and 1.5 m of 4.27 g/t gold, however, this historical drilling is over 800 m from the targets defined by Fury in an area where the geochemical anomalies are half of the values being targeted. The Company intends to drill test three targets at Serendipity with approximately 3,500 m of diamond drilling. Ashed samples are analyzed for 65 elements using nitric/hydrochloric acid digestion with ICP-MS finish (ME-VEG41a). QA/QC programs using lab duplicates, standards, and blanks indicate good accuracy. Announcement • Jun 14
Fury Gold Mines Limited announced that it has received CAD 5.0008 million in funding On June 13, 2024, Fury Gold Mines Limited, closed the transaction. Announcement • Jun 06
Fury Gold Mines Limited Drills 137.5 Metres of 0.44 g/t Gold at Éléonore South and Announces Summer 2024 Exploration Plans at the Project Fury Gold Mines Limited announced the results from its Spring 2024 diamond core drilling program at its 100% owned Éléonore South gold project located in the Eeyou Istchee Territory in the James Bay region of Quebec. The Spring 2024 diamond drilling program comprised 2,331.4 metres (m) completed in seven diamond drill holes testing 2.3 kilometres (km) of strike along the JT – Moni Trend. The drilling targeted 100 to 125 m downdip extensions from historical drilling. All seven drill holes intercepted anomalous gold mineralization including 137.5 m of 0.44 g/t gold and 18.7 m of 0.97 g/t from drill hole 24ES-161, 115.5 m of 0.50 g/t gold from drill hole 24ES-162 and, 28.0 m of 0.47 g/t gold from drill hole 24ES-160. The limited drilling completed confirms that the gold mineralization hosted within the Cheechoo tonalite remains open. During the summer of 2024, Fury plans to complete the biogeochemical sampling grid where a robust geochemical gold anomaly within the same sedimentary rock package that hosts Newmont’s Éléonore Mine has been identified. The completion of the biogeochemical grid will allow Fury to finalize drill targeting. The Éléonore South project is strategically located in an area of prolific gold mineralization with Newmont’s Éléonore Mine to the north and Sirios’ Cheechoo deposit to the east. Two distinct styles of mineralization have been identified to date; structurally controlled quartz veins hosted within sedimentary rocks, similar to the high-grade mineralization observed at the Éléonore Mine; and intrusion-related disseminated gold mineralization, similar to that seen at the lower-grade bulk tonnage Cheechoo deposit with potential for higher grades hosted in stockwork quartz veining as observed at the JT and Moni showings. Previous drilling at Éléonore South, 38,037 m in 164 drill holes, was largely focussed in the Moni area and successfully defined a 2,000 m x 750 m zone of lower-grade intrusion related gold mineralization similar to that of the Cheechoo gold deposit. Within the lower-grade gold halo, there are a series of structurally controlled quartz vein stockworks which host significantly higher grades of gold where previous drilling intercepted 53.25 m of 4.22 g/t Au; 6.0 m of 49.50 g/t Au and 23.8 m of 3.08 g/t Au. Analytical samples for the Drill Program were taken by sawing NQ 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 assay with inductively coupled plasma – atomic emission spectrometry finish (Au-ICP22) and multi-element four acid digest ICP-AES/ICP-MS method (ME-MS61). Where Au-ICP22 results were greater than 0.5 ppm Au the assay was repeated with a 50 g nominal weight fire assay with atomic absorption finish (Au-AA24). Samples containing more 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, field and lab duplicates and blanks indicate good overall accuracy and precision. Analytical samples were taken by sawing BTW diameter core into equal halves on site and sent one of the halves to ALS Lab in Rouyn-Noranda, Val d’Or, QC, and Sudbury, ON for preparation and analysis. All samples are assayed using 50 g nominal weight fire assay with 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 3 ppm Au the assay were repeated with 50 g nominal weight fire assay with gravimetric finish (Au-GRA22). QA/QC programs using internal standard samples, field and lab duplicates and blanks indicate good accuracy and precision in a large majority of standards assayed. True widths of mineralization are unknown based on current geometric understanding of the mineralized intervals. Announcement • May 24
Fury Gold Mines Limited announced that it expects to receive CAD 5.0008 million in funding Fury Gold Mines Limited announced a private placement of up to 5,320,000 flow-through common shares at a price of CAD 0.94 per share for the gross proceeds of CAD 5,000,800 on May 23, 2024. The offering is scheduled to close on or about June 13, 2024, subject to customary closing conditions, including receipt of all necessary approvals including the approval of the Toronto Stock Exchange and the NYSE American LLC. The company has agreed to pay the agents a cash commission of up to 6% of the gross proceeds raised under the offering. Announcement • May 15
Fury Gold Mines Limited Updates Mineral Resources at Eau Claire, Increasing Measured and Indicated Gold Ounces by 36%, and Inferred Gold Ounces by 45% Fury Gold Mines Limited provided an updated Mineral Resource Estimate for the high-grade Eau Claire deposit as well as a Maiden Mineral Resource Estimate for the Percival deposit located in the Eeyou Istchee Territory of the James Bay region of Quebec. The Eau Claire project now contains a combined mineral resource of 1.16Moz gold (Au) at a grade of 5.64 g/t Au in the Measured and Indicated category as well as an additional 723koz gold at a grade of 4.13 g/t Au in the Inferred Category. Gold mineralization remains open for expansion in all directions at both the Eau Claire and Percival deposits through additional drilling. Highlights: 2024 Updated Mineral Resource Estimate: Addition of 307koz Au in the Measured and Indicated category (a 36.0% increase) and 223koz Au in the Inferred category (a 44.6% increase). Eau Claire Resource remains open for further expansion through additional drilling. Eau Claire vein geometry steepened in areas with new data and interpretation. Percival is one of 15+ anomalies along the Percival - Serendipity trend. At the Eau Claire deposit, the Measured and Indicated gold ounces increased by 32% to 1.16Moz Au and the Inferred gold ounces by 2.4% to 512koz Au with the additional ounces coming from the Hinge Target, Gap Zone, and East Extensions. At the Hinge Target, a combination of steep and flat lying stacked gold-bearing quartz tourmaline veins concentrated within a 200 metre (m) wide structurally controlled corridor were modelled based on approximately 21,000 m of drilling. Throughout the Gap Zone and East Extensions, additional ounces came from both extensions of previously modelled veins as well as newly modelled veins. Within the East Extension portion of the resource, vein geometries were remodelled based on additional structural data captured by Fury resulting in veins being steepened from 35 degrees on average to 60 degrees. The Eau Claire deposit remains open to the west, up dip at the Hinge Target, to the east and downdip throughout. The Maiden Mineral Resource Estimate at the Percival deposit, 14 kilometres (km) to the east of the Eau Claire deposit, contains 211koz Au in the inferred category at a grade of 2.34 g/t Au. The Percival resource estimate is based on approximately 15,916 m of diamond core drilling, 7,800 m of which was completed by Fury. Gold mineralization at Percival is hosted within a series of secondary shears running sub-parallel to the regional Cannard Deformation Zone. The host lithologies are folded into an "S-fold" indicating left lateral (sinistral) shearing. The newly completed geological model paired with a better understanding of lithological and structural controls on gold mineralization will aid with further expansion drilling of the Percival deposit as well as targeting to the east of Percival and north to Serendipity. Announcement • May 03
Fury Gold Mines Limited announced delayed 20-F filing On 05/01/2024, Fury Gold Mines Limited announced that they will be unable to file their next 20-F by the deadline required by the SEC. Announcement • Apr 13
Fury Gold Mines Limited, Annual General Meeting, Jun 26, 2024 Fury Gold Mines Limited, Annual General Meeting, Jun 26, 2024. Announcement • Mar 21
Fury Gold Mines Limited to Commence Drilling at Eleonore South Gold Project Fury Gold Mines Limited announced its intention to commence diamond core drilling operations at its 100% owned Éléonore South gold project located in the Eeyou Istchee Territory in the James Bay region of Quebec. The diamond drilling program will commence in early April 2024 comprising approximately 2,000 metres (m) focussed on the Moni showing trend where previous drilling intercepted up to; 53.25 m of 4.22 g/t gold (Au); 6.0 m of 49.50 g/t Au including 1.0 m of 294 g/t Au and 23.8 m of 3.08 g/t Au including 1.5 m of 27.80 g/t Au, several of which remain open. The Éléonore South project is strategically located in an area of prolific gold mineralization with Newmont's Éléonore Mine to the north and Sirios' Cheechoo deposit to the east. Two distinct styles of mineralization have been identified to date; structurally controlled quartz veins hosted within sedimentary rocks, similar to the high-grade mineralization observed at the Éléonore Mine; and intrusion-related disseminated gold mineralization, similar to that seen at the lower-grade bulk tonnage Cheechoo deposit with potential for higher grades hosted in stockwork quartz veining as observed at the JT and Moni showings. Previous drilling at Éléonore South, 38,037 m in 164 drill holes, was largely focussed in the Moni area and successfully defined a 2,000 m x 750 m zone of lower-grade intrusion related gold mineralization similar to that of the Cheechoo gold deposit. Within the lower-grade gold halo, there are a series of structurally controlled quartz vein stockworks which host significantly higher grades of gold. Fury's Spring 2024 drilling campaign will focus on these structural corridors following up on previous drill intercepts of 53.25 m of 4.22 g/t Au; 6.0 m of 49.50 g/t Au and 23.8 m of 3.08 g/t Au. In late spring Fury will complete the biogeochemical grid where a robust geochemical gold anomaly within the same sedimentary rock package that hosts Newmont's Éléonore Mine has been identified. Analytical samples were taken by sawing BTW diameter core into equal halves on site and sent one of the halves to ALS Lab in Rouyn-Noranda, Val d'Or, QC, and Sudbury, ON for preparation and analysis. All samples are assayed using 50 g nominal weight fire assay with 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 3 ppm Au the assay were repeated with 50 g nominal weight fire assay with gravimetric finish (Au-GRA22). QA/QC programs using internal standard samples, field and lab duplicates and blanks indicate good accuracy and precision in a large majority of standards assayed. True widths of mineralization are unknown based on current geometric understanding of the mineralized intervals. Announcement • Mar 02
Fury Gold Mines Limited (TSX:FURY) completed the acquisition of 10.98% stake in Sirios Resources Inc. (TSXV:SOI) from Newmont Corporation (NYSE:NEM) and Goldcorp Incorporated. Fury Gold Mines Limited (TSX:FURY) entered into an agreement to acquire 10.98% stake in Sirios Resources Inc. (TSXV:SOI) from Newmont Corporation (NYSE:NEM) and Goldcorp Incorporated for CAD 1.3 million on February 26, 2024. Fury Gold Mines agreed to purchase Newmont’s 30,392,372 shares of Sirios Resources. In a related transaction, Fury will purchase Newmont’s 49.978% interest in Éléonore South for CAD 3 million. Completion of the purchase is subject to certain conditions precedent and is expected to close in late February or early March 2024.Fury Gold Mines Limited (TSX:FURY) completed the acquisition of 10.98% stake in Sirios Resources Inc. (TSXV:SOI) from Newmont Corporation (NYSE:NEM) and Goldcorp Incorporated on February 29, 2024. Newmont Corporation, through its subsidiary Goldcorp Inc., indirectly disposed of an aggregate of 24,982,352 common shares and directly disposed of an aggregate of 5,410,020 common shares of Sirios representing approximately 10.98%. Announcement • Feb 07
Fury Provides the Final Set of Results from the 12,000 Metre 2023 Drilling Program At the Hinge Target Fury Gold Mines Limited provided the final set of results from the 12,000 metre (m) 2023 drilling program at the Hinge Target, part of the high-grade Eau Claire gold project located in the Eeyou Istchee Territory, in the James Bay region of Quebec. The Hinge Target comprises a series of stacked gold-bearing quartz tourmaline veins concentrated within a 200m wide structurally controlled corridor. Highlights from these last five drill holes include 17.62g/t gold over 3.50m (including 29.80g/t gold over 2.00m), and 22.20g/t gold over 0.50m from 23EC-082; 3.35g/t gold over 8.50m (including 5.70g/t gold over 3.00m), and 2.24g/t gold over 7.50m from 23EC-079; and 5.49g/t gold over 3.50m from 23EC-078. The reported intercept from drill hole 23EC-082 of 17.62g/t gold over 3.50m is within 135m of surface and is completely open to surface and to the west, above the rest of the Hinge Target.Drilling in 2023 has confirmed that the Hinge Target is the direct westerly extension of the high-grade Eau Claire gold deposit extending the mineralized footprint by over 400m. Drilling to date has identified a series of discrete sub-vertical quartz tourmaline veins concentrated in two, 100m wide, structurally controlled corridors with vertical continuity now demonstrated over 400m. The Hinge Target remains open up dip, down dip and to the west. The 12,000m of drilling completed at the Hinge Target in 2023 were designed to tighten up the drill hole spacing to a nominal 60-80m for use in an updated independent mineral resource estimate, which is now underway. 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 assay with inductively coupled plasma - atomic emission spectrometry finish (Au-ICP22) and multi-element four acid digest ICP-AES/ICP-MS method (ME-MS61). Where Au-ICP22 results were greater than 0.5 ppm Au the assay was repeated with a 50 g nominal weight fire assay with atomic absorption finish (Au-AA24). Samples containing more 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, field and lab duplicates and blanks indicate good overall accuracy and precision. Announcement • Jan 17
Fury Gold Mines Limited Intercepts 31.77 g/t Gold and 8.07 g/t Tellurium over 3.5 Metres At the Hinge Target Fury Gold Mines Limited provided the fourth set of results from the 2023 drilling program at the Hinge Target, part of the high-grade Eau Claire gold project located in the Eeyou Istchee Territory in the James Bay region of Quebec. The Hinge Target continues to produce multiple stacked zones of gold-mineralized quartz tourmaline veins. 2.56g/t gold over 7.50m from 23EC-068; and 3.41g/t gold over 6.50m and 5.00g/t gold over 3.50m from 23EC -075. The 2023 Hinge Target drilling has increased confidence in the geological model and potential for expansion of the Eau Claire resource to the west. Results from an additional five drill holes are still pending for the Hinge Target. The Hinge veins remain open both to the west and up and down dip. These drill holes are part of a series of infill drill holes designed to tighten up the drill hole spacing within the Hinge Target to a nominal 60-80m. The continued intercepted of stacked mineralized veins through these new holes exhibit the overall continuity and robustness of the mineralized system within the Hinge Target. Announcement • Jan 10
Fury Gold Mines Limited Announces Appointment of Phil van Staden as Chief Financial Officer Fury Gold Mines Limited announced the appointment of Phil van Staden, the current Interim CFO of the company, to the position of chief financial officer effective as of January 1, 2024. Mr. van Staden joined Fury in 2020 and brings over 15 years of diverse international experience in various accounting roles and industries throughout South Africa and Canada. He holds B. Commerce and B. Commerce Honours degrees respectively from the University of Pretoria and the University of South Africa. Announcement • Nov 29
Fury Gold Mines Limited Provides Additional Results from the 2023 Infill Drilling Program At the Hinge Target At the High-Grade Eau Claire Gold Project Located in the Eeyou Istchee Territory in the James Bay Region of Quebec Fury Gold Mines Limited provided additional results from the 2023 infill drilling program at the Hinge Target at the high-grade Eau Claire gold project located in the Eeyou Istchee Territory in the James Bay region of Quebec. The Hinge Target infill program has increased confidence in the geological model and potential for expansion of the Eau Claire resource to the west. Drilling continues to intercept multiple zones of gold mineralization including 5.5 metres (m) of 4.52g/t gold and 3.0m of 3.34g/t gold from 23EC-069; 1.0m of 20.20g/t gold and 3.5m of 3.51g/t gold from 23EC-070; 1.0m of 19.55g/t gold from 23EC-066; and 3.5m of 3.82g/t gold from 23EC-067. Results from an additional eleven drill holes are still being processed for the Hinge Target. The Hinge Target sits immediately to the west, adjacent to the high-grade Eau Claire gold deposit. Drilling to date has identified nineteen discrete sub-vertical quartz tourmaline veins concentrated in two 100m wide corridors. The Hinge Target extends to the west of the deposit by over 400m with vertical continuity of veining of approximately 300m and remains open both to the west and up and down dip. The 2023 exploration program at the Hinge Target focused on tightening the nominal drill spacing to 60-80m to demonstrate the continuity of the mineralized vein corridors for eventual inclusion in an updated mineral resource estimation at Eau Claire. New Risk • Nov 11
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$12m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$12m free cash flow). Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable next year (CA$12m net loss next year). Shareholders have been diluted in the past year (4.4% increase in shares outstanding). Market cap is less than US$100m (CA$69.1m market cap, or US$50.1m). Board Change • Oct 01
High number of new directors Independent Director Isabelle Cadieux was the last director to join the board, commencing their role in 2023. Announcement • Sep 07
Fury Gold Mines Limited Appoints Isabelle Cadieux as Board Director Fury Gold Mines Limited announced that its Board of Directors has appointed Isabelle Cadieux as an Independent Director, effective immediately. Ms. Cadieux, a professional geologist, brings more than 30 years of experience in mineral exploration and financing in the mining sector. She last held the position of Managing Director, Investment at SIDEX, a Quebec institutional fund that finances exploration companies, including Fury, and continues to hold shares in Fury, where she served from 2001 until 2023. Her mineral exploration experience across Canada and abroad, includes positions with AGIP (1980-1983 in Saskatchewan), AREVA (1988-1992 in Quebec, Ontario, and the Northwest Territories), and Channel Resources (1996-1999 in Burkina Faso) and covers a wide range of ore deposit types and mineral commodities, in particular gold, copper, and uranium. She holds an M.Sc. in Mineral Exploration (MINEX) from McGill University and a B.Sc. in Geology from the University of Ottawa. Ms. Cadieux acted as President of the Ordre des geologues du Quebec (OGQ) in 2008, sat on the Board of Directors from 2005 to 2010, and was Director of the Canadian Council of Professional Geoscientists from 2007 to 2011 where she represented the OGQ. From 2011 to 2016, she was a member of the Executive Committee of the UQAT-UQAM Chair in Mining Entrepreneurship. Throughout her career, she has been involved in various sector-related organizations, among others the Quebec Mineral Exploration Association (AEMQ), the Canadian Institute of Mines and Metallurgy (CIM), Minalliance and Mine d'Avenir. Price Target Changed • Sep 05
Price target decreased by 37% to CA$1.85 Down from CA$2.95, the current price target is an average from 2 analysts. New target price is 236% above last closing price of CA$0.55. Stock is up 5.8% over the past year. The company posted earnings per share of CA$0.18 last year. Announcement • Aug 04
Fury Gold Mines Limited Continues to Expand the Hinge Target with Multiple Drill Intercepts Fury Gold Mines Limited provided results for the first three 2023 core drill holes at the high-grade Eau Claire gold project located in the Eeyou Istchee Territory in the James Bay region of Quebec. The 2023 drill program to date has focused on the continued expansion of the Hinge Target located immediately west of the Eau Claire Deposit with the goal of updating the Eau Claire Mineral Resource Estimate at the end of the season. Drilling at the Hinge Target continues to return multiple stacked zones of gold mineralization from each drill hole including 5.0 metres (m) of 3.6 g/t Au within a broader interval of 14.0m of 2.37 g/t Au. Additional drill intercepts include 6.5m of 2.66 g/t Au, 6.0m of 2.77 g/t Au and 1.0m of 10.35 g/t Au. Drill holes 23EC-063 and 23EC-064 have expanded the Hinge Target gold mineralization 50m up-dip and 75m to the west respectively. Drill hole 23EC-064 represents the first of a series of infill drill holes designed to tighten up the spacing of the 2022 Hinge Target drilling to a nominal spacing of 60-80m. Importantly, the broad intercepts of 14.0m of 2.37 g/t Au, 6.0m of 2.77 g/t Au and 6.5m of 2.66 g/t Au continue to show the overall strength of the mineralized system within the Hinge Target. These initial results provide confidence in the modeled sub-vertical geometry of the veining at the Hinge Target as the Company works towards a meaningful update to the currently defined Eau Claire Resource which was last estimated in 2018 at 853,000 ounces (oz) gold at an average grade of 6.18 g/t gold in the Measured and Indicated Category and 500,000 oz gold at 6.35 g/t gold in the inferred category. Western Hinge Target: The 2023 exploration program at the Hinge Target is focusing on the continued expansion of the gold mineralization to the west and up-dip while tightening up the drill spacing to 70-80m to prove continuity. The reported intercepts at the Hinge Target are defined by two 100m wide corridors of mineralization each hosting multiple subvertical quartz tourmaline veins. A total of nineteen discrete veins have been modeled within the two corridors to date. The Hinge Target remains open in all directions. Announcement • Jul 12
Fury Gold Mines Limited Restarts Drill Program At the Eau Claire Deposit and Percival Prospect Fury Gold Mines Limited announced that it has restarted exploration activities at the Eau Claire high-grade gold project located in the Eeyou Istchee Territory in the James Bay region of Quebec following the easing of the Province's emergency fire evacuation order. Following the removal of the prohibition of access to and travel within forests around the Eau Claire project, Fury remobilized crews to continue the previously announced 2023 exploration drill program focussed on the continued expansion of both the Eau Claire deposit and the Percival Prospect. Announcement • Jun 07
Fury Gold Mines Limited Temporarily Halts Work At Eau Claire Following Fire Evacuation Order Fury Gold Mines Limited announced that the Company has paused all exploration activities at its Eau Claire project located in the Eeyou Istchee Territory in the James Bay region of Quebec following an emergency fire evacuation order. On June 4, 2023, the Minister of Natural Resources mandated that all mining exploration activities stop immediately, all personnel be evacuated from the territory, and that helicopters and aircraft be made available to help fight fires and carry out emergency evacuations. Following notice from the Crown, Fury has temporarily halted exploration activities and has begun evacuating crews from the Eau Claire site. The Company will continue to monitor the situation as it progresses. Announcement • May 17
Fury Gold Mines Limited Announces Changes to Its Board Fury Gold Mines Limited announced that independent Director Brian Christie will serve as Board Chair going forward and Jeffrey Mason will continue to serve as independent Director. The Company also announces that Michael Henrichsen, Chief Geological Officer, has retired from his role and will remain a consultant to Fury. Announcement • Feb 14
Fury Gold Mines Limited Defines Six Targets Along the Cannard Deformation Zone At Lac Clarkie Fury Gold Mines Limited provided an update on targeting at the wholly owned Lac Clarkie project immediately to the east of its 100% owned Eau Claire project in the Eeyou Istchee Territory in the James Bay region of Quebec. The Company has defined a total of eight gold targets through the completion of a B-horizon soil sampling program. Six of the targets lie along the Cannard Deformation Zone which hosts numerous gold occurrences along its >100 kilometre (km) mapped extent including Fury's Eau Claire Deposit and Percival Property. Fury is working to prioritize these newly defined targets for follow-up in 2023 with the aim of advancing a number of these targets to the drill-ready stage. The wholly owned 35,000 hectare (ha) Lac Clarkie project is contiguous to the east of the Company's Eau Claire project covering an additional 20km of the regional Cannard Deformation Zone. The Cannard Deformation Zone is host to over ten gold occurrences within Fury's Eau Claire project alone, most notably the high-grade Eau Claire Deposit and Percival Prospect. The 2022 soil sampling program focused on three discrete regional targets derived from a combination of; reinterpreted geophysical data, updated geological framework, and comprehensive historical data compilation. The regional targets focused along large-scale east-west and northwest-southeast trending structures. These structures are interpreted to be the likely source for the gold anomalies identified from limited historical gracial till and float sampling. Results of up to 85 parts per billion (ppb) gold and 590ppb silver were returned from the 2,529 samples collected. A total of 62 samples returned values above 50ppb gold, background values in gold as defined by the 50th percentile are 1ppb gold. Ninety-two samples returned results above 100ppb silver, background value of silver from the survey as defined by the 50th percentile are 20ppb silver. Table 1 below summarizes the eight newly identified gold in soil anomalies. Till samples were collected for the B-horizon within a predefined grid with a spacing of 50 metres along 200 metre spaced line for overall coverage of 100 x 200 metres. Samples are screened using 180um screen analyzed for gold and multi-element using 50g (or 25g where insufficient material) nominal weight trace level method by aqua regia extraction and ICP-MS finish method (AuME-TL44 or AuME-TL43) on a -180um fraction. QA/QC programs using internal standard samples, field and lab duplicates, re-assays, and blanks indicate good accuracy and precision in a large majority of standards assayed. David Rivard, P.Geo, Exploration Manager at Fury, is a "qualified person" within the meaning of Canadian mineral projects disclosure standards instrument 43-101 and has reviewed and approved the technical disclosures in this press release. Announcement • Jan 24
Fury Gold Mines Limited Provides Results for the Final Three 2022 Core Drill Holes at the Eau Claire Project Fury Gold Mines Limited provided results for the final three 2022 core drill holes at the Eau Claire project located in the Eeyou Istchee Territory in the James Bay region of Quebec. The 2022 drill program successfully expanded the high-grade gold mineralized footprint at the Hinge Target, Gap Zone, and eastern expansion target areas. To date, the eleven holes drilled into the Hinge Target have had a hit rate of nearly 55% above the Eau Claire underground measured and indicated resource grade of 6.3 g/t gold and over 80% above the underground cut-off grade of 2.5 g/t gold. Collectively, these results have provided a clear focus for deposit expansion moving forward into 2023. Drill hole 22EC-059 was drilled oblique to all other drilling at the Hinge Target (at an angle of 150 degrees) and provides confirmation of the current geological interpretation. The hole intercepted eight zones of gold mineralization across 350 metres (m) drilled width including 1.50m of 22.77 g/t gold, 1.50m of 15.30 g/t gold and 1.50m of 6.46 g/t gold. The reported intercepts extend the gold mineralization and represent a 100m offset to the west and 150m vertical offset of the defined shallow 850 Zone within the Hinge Target. Notably, the reported intercept of 1.50m of 22.77 g/t gold at a downhole depth of 181.5m, approximately 155m below surface, is one of the shallowest high-grade intercepts to date within the Hinge Target zone. Fury's updated geological interpretation of the controls on mineralization within the Eau Claire resource has led to a focus on the fold geometry at the Hinge Target resulting in an overall increase of approximately 25% to the mineralized footprint. Drill holes 22EC-059 were designed to drill perpendicular to the apex of the fold hinge to test a series of vertically oriented veins, related to folding, as well as to expand upon shallow 850 Zone mineralization within 150 meters of surface. The Hinge target remains open to the west as well as up dip and down dip. The 2022 eastern expansion drill program was designed to test for continuity between defined resource blocks along the southeastern margin of the Eau Claire deposit where the Company intercepted significant high-grade gold results from limited 2021 drilling of 23.27 g/t gold over 7.09m, 11.56 g/t gold over 6.04m. All six drill holes completed in 2022 intercepted quartz tourmaline veining with associated alteration and include the following intercepts: 2.50m of 3.91 g/t gold from 22EC-060 and 1.50m of 3.65 g/t gold from 22EC-061. The intercepts extend mineralization 65m and 75m respectively confirming the dip continuity of the defined mineralization along the southeast margin of the Eau Claire deposit. Additionally, the Company is announcing that it has engaged with Native Ads Inc., to execute a comprehensive digital media marketing campaign supporting Fury's ongoing efforts to increase awareness. This comprehensive advertising program is designed to build brand familiarity, general recognition and raise awareness within online investor content platforms. Native Ads will employ advertising, paid distribution, media buying and content creation to execute this important initiative. 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 assay with inductively coupled plasma atomic emission spectrometry finish (Au-ICP22) and multi-element four acid digest ICP-AES/ICP-MS method (ME-MS61). Where Au-ICP22 results were greater than 0.5 ppm Au the assay was repeated with a 50 g nominal weight fire assay with atomic absorption finish (Au-AA24). Samples containing more than 5 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, field and lab duplicates and blanks indicate good overall accuracy and precision. Announcement • Jan 12
Fury Gold Mines Limited Announces the Appointment of Jeffrey Mason as Chair of the Board of Directors Fury Gold Mines Limited announced the appointment of Jeffrey Mason, CPA, ICD.D, the current Lead Independent Director of the Company, to the position of Chair of the Board of Directors effective immediately. Mr. Mason joined Fury in October 2020 and has extensive experience in the exploration, development, construction and operation of precious and base metals projects in the Americas, Asia and Africa, including 15 years as a Principal, Board Director and Chief Financial Officer for the Hunter Dickinson group of companies wherein he also specialized in M and A activity, and prior to that, 6 years at Homestake Mining/Barrick Gold. Overall, Mr. Mason has served as Chief Executive Officer, Chief Financial Officer, Corporate Secretary and Board Director for over 20 public companies listed on the TSX, TSXV, NYSE American and NASDAQ. Announcement • Nov 22
Fury Gold Mines Limited Provides Results for Three Core Drill Holes At the Eau Claire Project Fury Gold Mines Limited provided results for three core drill holes at the Eau Claire project located in the Eeyou Istchee Territory in the James Bay region of Quebec. The three holes targeted the Gap Zone between the 450 Zone, which hosts the bulk of the Eau Claire defined resource, and the Hinge Target. Drill hole 22EC-058 intercepted three zones of gold mineralization across 42.5 metres (m) drilled width including 1.0m of 45.00 g/t Au and 1.0m of 5.55 g/t Au. The intercepts from 22EC-058 extend gold mineralization by approximately 150m to the west and 315m downdip of the defined resource, further expanding the mineralized footprint of the deposit. Fury's recognition of the stratigraphic controls on the Eau Claire deposit mineralization opened up the Gap Zone for targeting. Drill holes 22EC-056 - 22EC-058 targeted a 450m by 450m area that was not historically drilled. Drill hole 22EC-058 demonstrates the potential of this area to add additional ounces to the resource as it represents a 150m step out and 315m down dip extension from the limits of the currently defined resource. Fury believes that additional drilling is warranted in the Gap Zone area due to its location directly west of the 450 Zone, and its relatively shallow position within the system. The stratigraphic position of the mineralization encountered in drill hole 22EC-058 is consistent with that encountered in the deep portions of the Hinge Target starting 400 metres to the west. Currently, there is one completed hole pending assay results from the Hinge Target, two from the eastern extension and eight from Percival. The Company anticipates results from these holes to be released as received over the coming weeks. 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 assay with inductively coupled plasma - atomic emission spectrometry finish (Au-ICP22) and multi-element four acid digest ICP-AES/ICP-MS method (ME-MS61). Where Au-ICP22 results were greater than 0.5 ppm Au the assay was repeated with a 50 g nominal weight fire assay with atomic absorption finish (Au-AA24). Samples containing more than 5 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, field and lab duplicates and blanks indicate good overall accuracy and precision. Price Target Changed • Nov 16
Price target decreased to CA$2.33 Down from CA$2.95, the current price target is an average from 2 analysts. New target price is 374% above last closing price of CA$0.49. Stock is down 46% over the past year. The company posted a net loss per share of CA$0.14 last year. Announcement • Oct 26
Fury Gold Mines Limited Provides Results for Six Core Drill Holes At the Eau Claire Project Located in the Eeyou Istchee Territory in the James Bay Region of Quebec Fury Gold Mines Limited provided results for six core drill holes at the Eau Claire project located in the Eeyou Istchee Territory in the James Bay region of Quebec. Drilling to date has tested five target areas at the Eau Claire deposit, significantly expanding the mineralized footprint. Drill holes 22EC-049 and 22EC-055 currently represent the western most drill holes and have extended gold mineralization a further 125 metres (m) from the multiple high-grade zones of gold mineralization from drill hole 22EC-048 within the Hinge Target. Drill hole 22EC-055 intercepted eight zones of mineralization across a drilled width of 290m, including 4.0m of 5.75 g/t gold, 1.0m of 9.81 g/t gold and 3.0m of 1.93 g/t gold and drill hole 22EC-049 intercepted six zones of gold mineralization across 350m drilled width including 1.0m of 21.40 g/t gold and 4.50m of 1.09 g/t gold (Figures 1 and 2). The multiple stacked zones of gold mineralization encountered at the Hinge Target clearly demonstrate that the Eau Claire gold resource remains open to the west and has the potential to be expanded significantly with approximately a 25% increase to the mineralized footprint realized to date. Western Hinge Target: Fury's recognition of the importance of the fold geometry at the Hinge Target paired with the newly recognized stratigraphic control to the Eau Claire gold mineralization has led to an overall increase of 455m or approximately 25% to the overall mineralized footprint of the deposit. Drill holes 22EC-054 and 22EC-055 were designed to further target the apex of the fold that was first identified in drill hole 22EC-048, where four zones of high grade and multiple zones of broad widths at moderate grade were intercepted, including 3.50m of 4.79 g/t gold, 1.00m of 14.19 g/t gold, 3.50m of 5.86 g/t gold, 1.00m of 20.6 g/t gold and 17.50m of 1.29 g/t Au. Both holes intercepted multiple zones of gold mineralization with drill hole 22EC-055 successfully targeting the apex of the fold, where the strong alteration and higher vein density are closely associated with the highest fluid flow, concentrated by the Hinge Target geometry. These results have further extended the shallow 850 zone and the deeper 450 zone of mineralization by 450 meters with both zones remaining open to the west. North Limb Target: The entire Eau Claire gold deposit is currently known to be hosted in the southern limb of an anticline where east-west oriented shearing intercepts favorable stratigraphy. The north limb of the anticline, where parallel shear zones crosscut the same favorable volcanic stratigraphy hosting the Eau Claire deposit, remained mostly unexplored. In 2012, a single drill hole through a shallow portion of the north limb intercepted a 40m wide zone of alteration and quartz tourmaline veining which yielded 2m of 8.45 g/t gold. Fury recently completed three drill holes into the north limb target (22EC-050; 22EC-051 and 22EC-052). Drill hole 22EC-050 targeted a 200m down dip extension of the 2012 drill intercept. The hole intercepted a 6m wide zone of 0.212 g/t gold. The multi-element geochemistry from the three drill holes indicates the north limb dips shallower than initially interpreted which led the 2022 holes to be collared within the prospective volcanic stratigraphy, thus limiting the effectiveness of the drilling. Fury's technical team will use the data from the limited 2022 North Limb drilling to refine the geological model to target further drilling. The North Limb target remains a high-priority target as the Company believes it has the potential to host a significant mineralized body. Additional Targets: Gap Zone: The recognition of the stratigraphic controls on the Eau Claire resource has opened up the westerly continuation of the 450 zone, historically referred to as the "Gap" Zone, as a highly prospective target; Historical drilling outside of the defined resource intercepted gold mineralization hosted in quartz tourmaline veining (preferred horizon) including 0.5m of 14.23 g/t gold, and 0.5m of 9.99 g/t gold; Fury completed three drill holes targeting the Gap Zone, all of which have intercepted zones of alteration and/or quartz tourmaline veining. Results are pending. Currently, there is one completed hole pending assay results from the Hinge Target, three pending from the Gap Zone, two from the eastern extension and eight from Percival. The Company anticipates results from these holes to be released as received over the coming months. Sampling and Assaying Disclosure: 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 assay with inductively coupled plasma - atomic emission spectrometry finish (Au-ICP22) and multi-element four acid digest ICP-AES/ICP-MS method (ME-MS61). Where Au-ICP22 results were greater than 0.5 ppm Au the assay was repeated with a 50 g nominal weight fire assay with atomic absorption finish (Au-AA24). Samples containing more than 5 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, field and lab duplicates and blanks indicate good overall accuracy and precision. 2002-2015 historical drill samples were taken by sawing NQ or HQ diameter core into equal halves on site with one half being sent to ALS Chemex in Sudbury, Ontario, Canada for preparation and analysis. All samples were assayed using a 50 g nominal weight fire assay with inductively coupled plasma - atomic emission spectrometry finish (Au-ICP22) and multi-element four acid digest ICP-AES/ICP-MS method (ME-MS61). Where Au-ICP22 results were greater than 0.5 ppm Au the assay was repeated with a 50 g nominal weight fire assay with atomic absorption finish (Au-AA24). Samples containing more than 5 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, field and lab duplicates and blanks indicate good overall accuracy and precision. Announcement • Oct 15
An institutional investor completed the acquisition of 7.4% stake in Dolly Varden Silver Corporation (TSXV:DV) from Fury Gold Mines Limited (TSX:FURY). An institutional investor entered into an agreement to acquire 7.4% stake in Dolly Varden Silver Corporation (TSXV:DV) from Fury Gold Mines Limited (TSX:FURY) for CAD 6.8 million on October 3. 2022. The acquisition includes 17 million common shares at CAD 0.40 in the capital of the Dolly Varden representing approximately 7.4% of the outstanding Common Shares.Upon completion of the Transaction, the ownership interest of Fury in Dolly Varden will be reduced from the current 76,504,590 Shares, representing 33% of the outstanding common shares of Dolly Varden, to 59,504,590 Dolly Varden Shares, representing 26% of the outstanding common shares of Dolly Varden.
An institutional investor completed the acquisition of 7.4% stake in Dolly Varden Silver Corporation (TSXV:DV) from Fury Gold Mines Limited (TSX:FURY) on October 13. 2022. Announcement • Aug 09
Newmont Corporation (NYSE:NEM) and Fury Gold Mines Limited (TSX:FURY) agreed to acquire a 23.77% stake in Eleonore South Joint Venture for CAD 3.7 million. Newmont Corporation (NYSE:NEM) and Fury Gold Mines Limited (TSX:FURY) agreed to acquire a 23.77% stake in Eleonore South Joint Venture for CAD 3.7 million on August 8, 2022. As consideration, Azimut Exploration Inc. will receive from Newmont Corporation an aggregate of 2.9 million common shares of Azimut Exploration Inc., which are beneficially controlled by Newmont Corporation and represent approximately 3.5% of the 82,193,844 common shares of Azimut Exploration Inc. presently issued and outstanding. Immediately upon closing of the transaction, such 2.9 million common shares will be returned to Azimut Exploration Inc.'s treasury for cancellation. The cost to Fury Gold Mines Limited of the 11.902% additional participating interest in the joint venture will be approximately CAD 1.2 million. Upon closing of the transaction, the participating interests in the Eleonore South Joint Venture will be held by Fury Gold Mines Limited(50.022%) and Newmont Corporation(49.978%), with Fury Gold Mines Limited acting as operator. Completion of the transaction is subject to approval of the TSX Venture Exchange. The transaction is expected to close in the third quarter of 2022. Announcement • Aug 04
Fury Gold Mines Limited Provides Results for Seven Core Drill Holes At the Eau Claire Project Located in the Eeyou Istchee Territory in the James Bay Region of Quebec Fury Gold Mines Limited provided results for seven core drill holes at the Eau Claire project located in the Eeyou Istchee Territory in the James Bay region of Quebec. The 2022 exploration drilling program continues to demonstrate the potential to significantly expand the deposit to the west at the Hinge Target. Drill holes 22EC-046, 22EC-047 and 22EC-048 targeted a 150 to 200 metre (m) extension of the intercept of 3.0m of 9.36 g/t gold from drill hole 21EC-041. All three drill holes intercepted multiple zones of gold mineralization, with hole 22EC-048 exhibiting four zones of high grade and broad widths of more moderate grade, including 3.50m of 4.79 g/t gold, 1.00m of 14.19 g/t gold, 3.50m of 5.86 g/t gold, 1.00m of 20.6 g/t gold and 17.50m of 1.29 g/t Au. Fury believes these intercepts represent the apex of the targeted fold hinge and reflects the deposit geometry that the technical team believes could deliver significant resource growth. The Hinge Zone drilling to date demonstrates a potential 20%, or 330m, increase to the mineralized strike length of the Eau Claire Deposit with results pending from additional drill holes located 100 metres further west of the reported intercepts. Hinge Target Discussion: The goal of the initial drill program was to identify zones of highest fluid flow represented by alteration and vein density within the broader hinge target. Drill hole 22EC-048 provides the technical team with the ability to follow this zone of intense veining, alteration, and gold mineralization both up and down plunge along the fold axis. Drill holes 22EC-047 and 22EC-048 intercepted mineralization associated with both the shallow 850 and deeper 450 zones that make up the Eau Claire resource. Drilling to date has tested a total of approximately 300m of the plunging anticline which is interpreted to extend a minimum of one kilometre (km) to the west. Mineralization associated with the 850 zone has been extended with seven zones of gold mineralization intercepted in two of the drill holes including 1.00m of 14.19 g/t gold, 3.50m of 4.79 g/t gold from 22EC-048 and 8.00m of 1.81 g/t Au from 22EC-047. At the 450 zone position, which has historically been untested at the Hinge Target, drill hole 22EC-048 intercepted six zones of gold mineralization over approximately 100m including 1.00m at 20.60g/t Au, 3.50m of 5.86 g/t gold, 3.50m of 3.73 g/t gold and 17.50m of 1.29 g/t gold. Collectively these results represent high-grade mineralization, widths above resource cut-off grade1 and zones of strong alteration and mineralization (above 1 g/t gold) demonstrating the potential for the Hinge target to significantly expand the Eau Claire deposit. Resource Eastern Expansion Drilling. The initial 2022 eastern expansion drill program was designed to test for shallow mineralization up plunge of the significant high-grade gold results from limited 2021 drilling of 23.27 g/t gold over 7.09m, 11.56 g/t gold over 6.04m. Each drill hole completed in 2022 intercepted quartz tourmaline veining with associated alteration and include the following intercepts: 1.43 m of 4.43 g/t gold from 22EC-042 and 1.25 m of 4.6 g/t gold from 22EC-045. The shallow intercepts are located in a high strain zone where the prospective stratigraphic unit has been significantly thinned due to the deformation and therefore is not as prospective as deeper extensions to the resource on the eastern side of the deposit. Fury's technical team remains confident that the Eau Claire resource can be significantly expanded to the east with additional drilling planned for the second half of 2022. North Limb: The entire Eau Claire resource is currently situated on the south limb of an anticline. With continued success at the Hinge Target, Fury is testing the potential of the North Limb of the anticline where the favourable Eau Claire host stratigraphy and correct structural setting were recognized; A single hole drilled into the North Limb from the south in 2012 intercepted a 40m wide zone of alteration and associated quartz tourmaline veining which yielded 2m of 8.45 g/t; Fury completed three drill holes targeting the North Limb, all of which have intercepted zones of alteration and/or quartz tourmaline veining. Results are pending. Gap Zone: The recognition of the stratigraphic controls on the Eau Claire resource has opened up the westerly continuation of the 450 zone historically referred to as the "Gap" Zone as a highly prospective target; Historical drilling outside of the defined resource intercepted gold mineralization hosted in quartz tourmaline veining including 0.5m of 14.23 g/t gold, and 0.5m of 9.99 g/t gold (preferred horizon); Based on the historical intercepts and limited drilling on the western edge of the 450 zone, Fury plans to drill the Gap Zone in the coming months. Announcement • Jun 23
Fury Gold Mines Mobilizes Second Drill to the Percival Prospect Fury Gold Mines Limited announced that a second drill has been mobilized to its wholly-owned Eau Claire project in the Eeyou Istchee Territory in the James Bay region of Quebec. The second drill will test the refined targeting at the Percival Prospect. Drilling will consist of approximately 6,500 metres (m) seeking to extend the higher-grade core of the Percival gold mineralization down plunge, as well as testing a highly prospective parallel fold hinge 500m to the east. The Percival prospect, located 14 kilometres (km) east of the Eau Claire deposit, is currently represented by a 400 metre (m) by 100m mineralized footprint hosted within folded sulphidized and silicified breccias in an interbedded volcanic and sedimentary sequence represented by historical drill intercepts by a previous operator during 2018 to 2019 of 93.1m of 2.22 g/t gold, 9.0m of 6.26 g/t gold, 8.5m of 7.13 g/t gold and 2.0m of 8.47 g/t gold. Targeting at Percival has significantly advanced recently with the completion of a 29 line-kilometre Induced Polarization ground geophysical survey as well as a biogeochemical survey covering 6.5km of the Percival trend. The higher-grade Percival mineralization is parallel and slightly offset to magnetic stratigraphic units that define a steeply plunging fold geometry. Targeting indicates there is the potential to extend higher-grade mineralization down plunge from historical intercepts and in the newly identified parallel fold hinge 500m to the east of the known mineralization. A single historical drill hole intersected this parallel fold hinge and ended in 12m of alteration and mineralization similar to the halo observed around the Percival gold mineralization. Announcement • May 26
Fury Gold Mines Limited Announces Retiring of the Chair, Ivan Bebek from the Board Fury Gold Mines Limited announced The Company's Chair, Ivan Bebek is retiring from the Board prior to the AGM but will remain supportive in an advisory capacity. Announcement • May 18
Fury Gold Mines Limited Enhances Drill Targeting At the Percival Prospect with Completion of Ground Geophysical Survey Fury Gold Mines Limited announced the completion of a 29 line-kilometre Induced Polarization (IP) ground geophysical survey at the high-grade Percival prospect within the EauClaire project located in the Eeyou Istchee Territory in the James Bay region of Quebec. The mineralization at Percival has a clear resistivity signature and the survey has identified a number of similar resistivity anomalies that coincide with biogeochemistry gold and trace element anomalies over a 6.5-kilometre strike length. The survey covered eight of the fifteen previously announced biogeochemical targets along the Percival trend. This newly acquired data is being incorporated into the final drill targeting for the upcoming summer 2022 drill program at Percival. The survey identified discrete coincident resistivity and conductivity anomalies which correspond with the sulphide-rich silica breccia gold-bearing bodies at Percival. IP Survey Details the Percival prospect, located 14km east of the Eau Claire deposit, is currently represented by a 400 metre (m) by 100m mineralized footprint hosted within folded sulphidized and silicified breccias in an interbedded volcanic and sedimentary sequence represented by historical drill intercepts of 93.1mof 2.22 g/t gold, 9.0m of 6.26 g/t gold, 8.5m of 7.13 g/t gold and 2.0m of 8.47 g/t gold. The IP survey methodology is useful for fingerprinting the sulphide rich silica dominant Percival style of mineralization, by identifying the resistive silicified units coinciding with a highly conductive, response due to the high sulphides content. In the western portion of the survey iron formation in close proximity to highly conductive graphitic shales obscure the conductivity signature associated with the sulphide mineralization at Percival prospect, however, the mineralization is imaged as relative conductive lows adjacent to the graphitic shales. In the eastern portion of the grid, these graphitic shales are less prevalent, and the IP survey has defined a number of coincident resistivity and conductivityhighs that the Company plans on evaluating and advancing to drill stage. The IP survey also confirmed the presence of NW /SE structures that appear to be an important control on mineralization observed at the Percival prospect. This structural trend coincides with a number of biogeochemistry anomalies and the technical team interprets these structures as a key component to concentrating gold mineralization along the Percival trend. This vector was previously derived from the interpretation of the biogeochemical and magnetics data. This structural trend is parallel to the regional fold axis that links the Percival and Serendipity prospects. The IP survey consisted of a total of 28.89 line-km across three distinct areas of the Percival trend covering eight of the fifteen previously announced biogeochemical targets. Lines ranged from 0.975 to 2.025 km with spacing of 125 to 250 metres (m). The survey was carried out using a pole-dipole electrode array with a nominal station spacing of 37.5m and readings ranging from n = 1 to n=20 allowing for a depth of survey of up to 325m. Announcement • May 07
Fury Gold Mines Limited, Annual General Meeting, Jun 29, 2022 Fury Gold Mines Limited, Annual General Meeting, Jun 29, 2022. Price Target Changed • Apr 27
Price target increased to CA$2.95 Up from CA$2.56, the current price target is an average from 2 analysts. New target price is 251% above last closing price of CA$0.84. Stock is down 47% over the past year. The company posted a net loss per share of CA$0.14 last year. Recent Insider Transactions • Apr 27
CEO & Director recently bought CA$189k worth of stock On the 21st of April, Forrester Clark bought around 200k shares on-market at roughly CA$0.94 per share. This was the largest purchase by an insider in the last 3 months. Forrester has been a buyer over the last 12 months, purchasing a net total of CA$369k worth in shares. Announcement • Apr 21
Fury Gold Mines Limited announced that it has received CAD 11 million in funding On April 19, 2022, Fury Gold Mines Limited closed the transaction. Recent Insider Transactions • Apr 17
CEO & Director recently bought CA$159k worth of stock On the 14th of April, Forrester Clark bought around 175k shares on-market at roughly CA$0.91 per share. This was the largest purchase by an insider in the last 3 months. Forrester has been a buyer over the last 12 months, purchasing a net total of CA$181k worth in shares. Announcement • Apr 13
Fury Gold Mines Limited announced that it expects to receive CAD 11 million in funding Fury Gold Mines Limited announced that it has entered into subscription agreements with two placees including Canadian corporate investor and a US institutional investor for a private placement of 13,750,000 common shares at a price of CAD 0.80 per share for gross proceeds of CAD 11,000,000 on April 12, 2022. All common shares issued are subject to a hold period expiring four months from the closing date of the private placement in accordance with applicable securities laws. The closing of the private placement is subject to approval from the Toronto Stock Exchange and the NYSE American and is anticipated to occur within approximately three business days of this announcement. Announcement • Apr 08
Fury Gold Mines Limited Commences Drilling At the Eau Claire Deposit Fury Gold Mines Limited announced that the 2022 exploration drilling program has commenced at its wholly-owned Eau Claire project in the Eeyou Istchee Territory in the James Bay region of Quebec. The goal of the program is to expand the high-grade Eau Claire gold deposit and follow up on the Percival discovery. The drill program will initially consist of approximately 15,000 meters (m), focusing on extending the resource along the southeast margin of the Eau Claire deposit, expanding the recent discovery at the Western Hinge target, and further testing the Percival discovery. The resource expansion drill program will continue to target the high-grade southeast margin of the existing resource, which is currently defined by 204,000 ounces at 11.81g/t gold (using a 2.5g/t gold cut-off grade) in the inferred category. This portion of the drill program is designed to extend the resource towards the southeast by connecting isolated resource blocks and expanding upon drill intercepts from 2021 including 6.04m of 11.56g/t (20EC-005) and 7.09m of 23.27g/t (21EC-022) as depicted in the red rectangle. In addition, the Company plans to drill between historical intercepts further to the east with the goal of bringing this area into an inferred resource category. The recently discovered Hinge target located on the western flank of the defined Eau Claire resource is characterized by a westerly plunging anticline that defines the overall geometry of the deposit. The anticline is interpreted to extend approximately one kilometer to the west based on geologic mapping and geophysical data that shows a westerly plunging conductivity anomaly imaging sediments hosted in the core of the fold. All four holes the Company completed in 2021 testing the Hinge geometry intercepted multiple zones of gold mineralization. Drill hole 21EC-041, the westernmost drill hole completed to date, intercepted seven zones of gold mineralization over a 110m drill width including 3.0m of 9.36 g/t gold, 3.0m of 3.38 g/t gold and 1.5m of 4.94 g/t gold. From the limited drilling completed in 2021, Fury’s technical team is highly encouraged by the confirmation of both the presence of multiple stacked zones of mineralization as well as the geometry of the anticline. Price Target Changed • Apr 01
Price target increased to CA$2.95 Up from CA$2.56, the current price target is an average from 2 analysts. New target price is 247% above last closing price of CA$0.85. Stock is down 45% over the past year. The company posted a net loss per share of CA$0.14 last year. Announcement • Feb 27
Dolly Varden Silver Corporation (TSXV:DV) completed the acquisition of Homestake Resource Corp. from Fury Gold Mines Limited (TSX:FURY). Dolly Varden Silver Corporation (TSXV:DV) entered into a definitive agreement to acquire Homestake Resource Corp. from Fury Gold Mines Limited (TSX:FURY) for CAD 50.1 million on December 6, 2021. Dolly Varden will pay CAD 5 million in cash and issue 76,504,590 Dolly Varden common shares to Fury. A termination fee of CAD 2 million may be payable by Dolly Varden to Fury if the transaction is not approved by Dolly Varden shareholders due to a competing proposal being made or announced before the Dolly Varden shareholder meeting and Dolly Varden is subsequently acquired by the third party under such competing proposal.
The transaction is subject to a number of closing conditions, including the receipt of TSX Venture Exchange approval and the satisfaction of certain other closing conditions customary for a transaction of this nature. The transaction is also subject to approval by a simple majority of the votes cast by Dolly Varden shareholders at a Dolly Varden shareholders meeting. The purchase agreement has been unanimously approved by the board of directors of both Dolly Varden and Fury. As of February 22, 2022, the shareholders of Dolly Varden have approved the transaction. Additionally, they also approved the resultant creation of a new "control person" of the company, being Fury, upon completion of the transaction. The transaction is expected to close by end of February, 2022. As of February 22, 2022, assuming that all conditions to closing of the transaction are satisfied or waived, the transaction is expected to be completed on or about February 25, 2022. The transaction is accretive to Dolly Varden.
Haywood Securities Inc. has provided a fairness opinion to the board of directors of Dolly Varde. Haywood Securities Inc. is also acting as financial advisor to Dolly Varden while Victor Gerchikov of Stikeman Elliott LLP is acting as legal counsel. Minvisory Corp. is acting as financial advisor to Fury while Michael H. Taylor of McMillan LLP is acting as legal counsel.
Dolly Varden Silver Corporation (TSXV:DV) completed the acquisition of Homestake Resource Corp. from Fury Gold Mines Limited (TSX:FURY) on February 25, 2022. In connection with the Transaction, Dolly Varden and Fury have also entered into an investor rights agreement granting Fury the right to appoint two nominees to the Dolly Varden board so long as Fury owns greater than 20% of the Common Shares outstanding and one nominee in case of ownership of greater than 10%. Tim Clark, the Chief Executive Officer of Fury and Michael Henrichsen, the Senior Vice President, Exploration of Fury, will be joining the Dolly Varden board. Announcement • Feb 17
Fury Gold Mines Limited Announces Drill Results from Raven Prospect Fury Gold Mines Limited announced drill results from the 2021 exploration program at the Raven prospect within its Committee Bay project in the Kitikmeot region of Nunavut. Highlights include drill intercepts of 9.18 g/t gold (Au) over 1.5 metres (m) and 7.30 g/t Au over 1.0m in drill hole 21RV-012 and 0.88 g/t Au over 8.00m in drill hole 21RV-011 as well as rock grab results of up to 32.90 g/t Au from a newly identified gold mineralized outcrop 150m to the south of the Raven structure that was drilled in this program. The reported intercepts have extended mineralization 160m down dip and 70m along strike from historical drilling at Raven. These results paired with the identification of a previously untested gold mineralized structure clearly indicate the significance of the Raven structure and shear zones in general, as exploration targets along the belt. The Raven prospect is located in the southwest third of the Committee Bay gold belt approximately 50 kilometres (km) west of the Three Bluffs deposit. It is situated along an 8km long shear zone where limited historical drilling intercepted 31.1 g/t Au over 2.8m and 9.49 g/t Au over 7.6m. The 2021 exploration program identified a silica-sericite alteration zone with associate quartz-arsenopyrite veining as the primary control on the high-grade gold mineralization (Figure 1). The silica-sericite alteration zone is sub-parallel to highly sheared gabbros and mafic volcanic rocks which were targeted in historical drilling. This led Fury’s technical team to re-interpret the historical drilling and update the geological model allowing for refined targeting. All 2021 drill holes intercepted silica-sericite alteration with associated quartz-tourmaline arsenopyrite bearing veins with coarse visible gold with intercepts of 9.18 g/t Au over 1.5m and 7.30 g/t Au over 1.0m in drill hole 21RV-012 and 0.88 g/t Au over 8.00m in drill hole 21RV-011. The reported intercepts have expanded the gold mineralization footprint at Raven by 160m down plunge and 70m along strike. Mapping and sampling at Raven have identified high-grade gold mineralization 150m south of the main Raven showing along an undrilled structure at the edge of an 8km long regional shear zone. Seven rock grab samples from outcrop returned results above 10 g/t Au with a peak of 32.9 g/t Au. Gold and arsenic in till now define a coherent 1,400m x 500m anomaly at Raven. Announcement • Feb 03
Fury Gold Mines Limited Extends High-Grade Gold Mineralization At Snake Lake Fury Gold Mines Limited provided results for eight (8) drill holes from the Snake Lake prospect one kilometre (km) east of the defined resource at the Eau Claire deposit located in the Eeyou Istchee Territory James Bay region of Quebec. Significant intercepts include 20.70 g/t gold (Au) over 1.5metres (m) in drill hole 21SL-008, 5.16 g/t Au over 2.50m in drill hole 21SL-003 and 7.14 g/t Au over 1.5m in drill hole 21SL-009. Collectively the mineralization intercepted in this round of drilling has expanded the shallow gold mineralization footprint within the Snake Lake structural corridor to over 950m of strike extent. The reported intercepts of 7.14 g/t Au over 1.5m (21SL-009) and 4.36 g/t Au over 1.0m (21SL-006) are situated along the newly identified mineralized horizon located between the Eau Claire and Snake Lake structures, first recognized from drill hole 21SL-001, which returned intercepts of 19.6 g/t Au over 0.5m and 2.85 g/t Au over 5m. Gold mineralization along this newly identified structure, associated with quartz-feldspar porphyry dykes with abundant quartz-tourmaline veining similar to the Eau Claire style of mineralization, has now been intercepted over approximately 500m of strike. The remainder of the reported intercepts, including 20.70 g/t Au over 1.5m (21SL-008) and 5.16 g/t Au over 2.50m (21SL-003), are along the main Snake Lake structure at the contact between mafic volcanic and meta-sedimentary rocks where historical exploration focused on shallow mineralization. Fury’s technical team plans to target both structures with additional drilling in 2022. Results from the eight exploration holes are listed below in Table 1. The reported intercepts, located along the volcanic-sediment contact that characterizes the Snake Lake structure of 20.70 g/t Au over 1.5m (21SL-008) and 5.16 g/t Au over 2.5m (21SL-003) paired with previously announced intercepts of 94.10 g/t Au over 0.5m (21EC-018) and 6.43 g/t Au over 1.5m (21EC-010), have increased the gold mineralized footprint within the Snake Lake structural corridor to 1,100m down-plunge and over 950m along strike,. Gold mineralization along the newly identified structure, located between the main Snake Lake and Eau Claire structures, has now been intercepted over approximately 500m of strike extent. The gold mineralization along this structure is hosted within mafic volcanic rocks with associated quartz-feldspar porphyry dykes and abundant quartz tourmaline veining up to 20m in width. The discovery and confirmation of the continuity of gold mineralization along this structure suggests a high probability of encountering new significant mineralized zones throughout the immediate area. Announcement • Jan 28
Fury Gold Mines Limited Provide an Update on Targeting At the High-Grade Percival Prospect At the Eau Claire Project Fury Gold Mines Limited provided an update on targeting at the high-grade Percival prospect at the Eau Claire project located in the Eeyou Istchee Territory in the James Bay region of Quebec as the Company mobilizes crews to resume exploration activities. Fifteen robust gold anomalies have been identified along a previously unidentified structural orientation through the recently completed biogeochemical sampling program, which covered six and a half kilometres of prospective folded stratigraphy. These 15 targets will be the focus of further exploration as the Company prepares to complete a ground based induced polarization geophysical survey to image the sulphide-rich silica breccia gold-bearing bodies at Percival. Percival Prospect: The Percival prospect, located 14km east of the Eau Claire deposit, is currently represented by a 400 metre (m) by 100m mineralized footprint hosted within folded sulphidized and silicified breccias in an interbedded volcanic and sedimentary sequence. Historical geochemical surveys did not image the shallow gold mineralization represented by historical drill intercepts of 93.1m of 2.22 g/t gold, 9.0m of 6.26 g/t gold, 8.5m of 7.13 g/t gold and 2.0m of 8.47 g/t gold. An orientation survey, conducted in 2020 was able to successfully detect the gold mineralization at Percival through biogeochemistry sampling. A recently completed survey covering 6.5km of prospective stratigraphy along the Percival trend identified 15 discrete gold anomalies with associated pathfinder elements (+/- As, Pb, Zn). Two of these anomalies were previously known prospects, Percival and Carodoc, the remaining 13 anomalies are new occurrences of gold and associated pathfinder mineralization. One of the newly identified gold occurrences is located approximately 500 m east of the Percival showing and is associated with a parallel steeply dipping fold hinge where a single 2019 drill hole ended in 12m of sulphidized and silicified breccia typical of the alteration and mineralization envelope associated with the gold mineralization at Percival. The silicified and sulphidized gold-bearing breccia found at Percival is surrounded by a visually similar looking barren silicified and sulphidized envelope. The 2019 exploration drill hole, ending in the silicified and mineralized breccia, needs to be extended to verify if, like at Percival, the gold-bearing "core" is present. Previous surface exploration in the Percival and Caradoc area was focused on a highly magnetic folded iron formation identified from an airborne magnetics survey. An updated interpretation and geologic model of the 2018-2019 drilling data from the Percival prospect shows that gold mineralization is peripheral to the magnetic iron formation and not hosted in it. Through the interpretation of the magnetics data and results from the biogeochemical survey Fury's technical team identified a previously unrecognized structural control to the gold mineralization along the Percival trend. This structural trend is parallel to the regional fold hinge that links the Percival and Serendipity prospects. Gold mineralization appears to be concentrated along these newly identified structures where they intersect folded mafic volcanic stratigraphy along the east west limb of the regional fold proximal to the Cannard deformation zone. Announcement • Dec 07
Dolly Varden Silver Corporation (TSXV:DV) entered into a definitive agreement to acquire Homestake Resource Corp. from Fury Gold Mines Limited (TSX:FURY) for CAD 50.1 million. Dolly Varden Silver Corporation (TSXV:DV) entered into a definitive agreement to acquire Homestake Resource Corp. from Fury Gold Mines Limited (TSX:FURY) for CAD 50.1 million on December 6, 2021. The Transaction values the Homestake Project at CAD 50 million for which Dolly Varden will pay CAD 5 million in cash and issue 76,504,590 Dolly Varden common shares to Fury. A termination fee of CAD 2 million may be payable by Dolly Varden to Fury if the Transaction is not approved by Dolly Varden shareholders due to a competing proposal being made or announced before the Dolly Varden shareholder meeting and Dolly Varden is subsequently acquired by the third party under such competing proposal. The Transaction is subject to a number of closing conditions, including the receipt of TSX Venture Exchange approval and the satisfaction of certain other closing conditions customary for a transaction of this nature. The Transaction is also subject to approval by a simple majority of the votes cast by Dolly Varden shareholders at a Dolly Varden shareholders meeting. The Transaction is an arm's-length transaction under the rules of the TSXV. The Purchase Agreement also includes certain representations, warranties, covenants, indemnities and conditions that are customary for a transaction of this nature. The Purchase Agreement has been unanimously approved by the board of directors of both Dolly Varden and Fury. Haywood Securities Inc. has provided a fairness opinion to the board of directors of Dolly Varde. Haywood Securities Inc. is acting as financial advisor to Dolly Varden. Stikeman Elliott LLP is acting as legal counsel to Dolly Varden. Minvisory Corp. is acting as financial advisor to Fury. McMillan LLP is acting as legal counsel to Fury. Price Target Changed • Dec 03
Price target decreased to CA$2.63 Down from CA$3.03, the current price target is an average from 2 analysts. New target price is 232% above last closing price of CA$0.79. Stock is down 56% over the past year. The company posted a net loss per share of CA$0.13 last year. Recent Insider Transactions • Oct 08
Independent Director recently bought CA$50k worth of stock On the 6th of October, Michael Hoffman bought around 67k shares on-market at roughly CA$0.75 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$460k more in shares than they have sold in the last 12 months. Announcement • Sep 24
Fury Gold Mines Limited announced that it expects to receive CAD 5.025 million in funding Fury Gold Mines Limited announced a private placement of 6,700,000 units at a price of CAD 0.75 per unit for gross proceeds of CAD 5,025,000 on September 22, 2021. Each unit will consist of one common share and one common share purchase warrant. Each warrant can be exercised to purchase a common share at an exercise price of CAD 1.20 until the date that is three (3) years from the closing date. The expiry date of the warrants can be accelerated to 30 days by notice from the company should the common shares trade at a price equal to or greater than CAD 1.50 for 20 consecutive trading days. The completion of the transaction may be completed in multiple tranches and is subject to receipt of executed subscription agreements and funds and customary closing conditions including conditional approval from the Toronto Stock Exchange and the NYSE American. The securities issued will be subject to a four-month hold period. Announcement • Sep 08
Fury Gold Mines Limited Provides Exploration Update Fury Gold Mines Limited provide exploration update. Eau Claire: Completed approximately 32,000 metres (m) of drilling at Eau Claire with 28 holes released and 10 drill holes from Snake Lake and the Western Limb Extension target areas currently pending; Drilling is underway at Snake Lake where three sub-parallel high-grade gold bearing structures are being explored, the Eau Claire structure, the Snake Lake structure as well as a newly identified gold bearing structure situated between the Eau Claire and Snake Lake structures. To date, the Company has extended mineralization at Snake Lake 840m down dip of historical drilling with an intercept of 94.1 g/t gold over 0.5m; Advancing four of nine regional targets to drill stage through geochemical and geophysical surveys with a focus on the 6.5-kilometre (km) Percival trend; Planning to drill the high-grade Percival target area during the first half of 2022; and Commenced surface exploration program at the Eleonore South Joint Venture to advance large scale 5.5 km long geochemical anomaly to drill stage. Committee Bay: Completed summer drill program of 2,587m across 5 holes at Committee Bay focused on the 8km shear zone hosting the Raven prospect where alteration and veining consistent with gold mineralization were intersected (Figure 6). Historical drill results from Raven include 31.1 g/t gold over 2.8m and 9.49 g/t gold over 7.57m1. Results from this summer's drill program are expected in mid October; and Completed geochemical sampling across six regional target areas in the southwestern region of the project to advance the most robust gold anomalies to drill stage. In total, there are 17 holes pending at the Eau Claire and Committee Bay gold projects, which are expected to be released over the next couple of months. 
