FURY Overview

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Drilling Program Announcement: Fury Gold Mines has initiated a 10,000-metre fall/winter drilling program at its Eau Claire Gold Project in Quebec, focusing on resource growth and enhancing the mine plan, with two drill rigs currently active on site.

Kipawa Rare Earths Project Update: The company is also engaging with local communities regarding the Kipawa rare earths project, which has historical reserves of 19.8 million tonnes of rare earth oxides, aiming to establish a community council for collaborative development.

Management's Commitment: CEO Tim Clark expressed excitement about advancing the Eau Claire project towards development and emphasized the importance of working with First Nations and local communities for the Kipawa project.

Forward-Looking Statements: The release includes forward-looking statements regarding future exploration operations, highlighting the inherent risks associated with mineral exploration and the need for caution in relying on such projections.

Private Placement Financing Announcement: Fury Gold Mines Limited has amended its private placement financing agreement to increase the offering size to up to 9,915,000 Charity FT Units and 6,003,000 Traditional FT Shares, aiming for total gross proceeds of up to C$18,000,150.

Use of Proceeds: The funds raised will be allocated to Canadian exploration expenses related to the company's Eau Claire and Committee Bay projects, with all qualifying expenditures to be renounced in favor of the subscribers by December 31, 2025.

Offering Details: The offering is set to close around October 10, 2025, subject to regulatory approvals, and will not be available to U.S. investors due to registration restrictions under U.S. securities laws.

Company Overview: Fury Gold Mines is a Canadian-focused exploration company with a strong management team, committed to sustainable mining practices and aiming to expand its gold platform through rigorous exploration efforts.

Offering Announcement: Fury Gold Mines Limited has entered an agreement with Haywood Securities Inc. to sell Charity FT Units and Traditional FT Shares, aiming to raise up to C$12 million for exploration expenses related to its Eau Claire and Committee Bay projects.

Details of the Offering: The Charity FT Units will be priced at C$1.21 and the Traditional FT Shares at C$1.00, with an over-allotment option for agents to sell an additional 15% of the total offering.

Use of Proceeds: The funds raised will be used for "Canadian exploration expenses" that qualify as "flow-through mining expenditures" under Canadian tax law, with all qualifying expenditures to be renounced in favor of the subscribers by December 31, 2025.

Regulatory Compliance: The offering will be conducted under the listed issuer financing exemption in Canada, excluding Québec, and the securities will not be registered under U.S. laws, thus cannot be sold in the United States.

Drill Campaign Results: Fury Gold Mines Limited announced positive results from its inaugural drill campaign at the Sakami gold project in Quebec, completing 3,685 meters across seven holes, with significant gold intercepts including 59 meters of 1.59 g/t gold from drill hole 25SK-003.

Mineralization Insights: The drilling revealed that gold mineralization remains open to the west, with a structurally controlled and consistent mineralization pattern, including high-grade silver zones, indicating a robust mineralized system with potential for further discovery.

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