Fury Gold Mines consolidates interests at Eleonore South gold project

Fury Gold Mines (FURY) announce that Fury and certain affiliates of Newmont Corporation (NEM) have entered into an agreement whereby Fury will purchase Newmont’s 49.978% interest in Eleonore South for C$3M. As part of the consolidation of Eleonore South, Fury has also agreed to purchase Newmont’s 30,392,372 shares of Sirios Resources for C$1.3M. The Sirios shares will be acquired for investment purposes and Fury will evaluate its investment in Sirios on an ongoing basis with respect to any possible additional purchases or dispositions. Completion of the purchase is subject to certain conditions precedent and is expected to close in late February or early March 2024. “We value the strong relationship with Newmont and are confident that this transaction is a positive outcome for both companies,” commented Tim Clark, CEO of Fury. “Our team has historically ranked the ESJV as one of our more prolific targets for discovery. As such, we are excited to now have 100% ownership as we expect this to provide a clearer pathway for more exploration and potential upside in returns for our investors from this project consolidation and investment in Sirios.”