Fury Gold Mines provides results for drilling at Eau Claire project

Fury Gold Mines provides 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 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. “Fury is pleased to announce the initial drill results from our 2023 drill program at Eau Claire, as these results further confirm our thesis that the Eau Claire resource is open for significant expansion. Importantly, we have continued to extend the mineralized footprint at the Hinge Target and confirmed our geologic model,” commented Tim Clark, CEO of Fury. “The results of the first three 2023 drill holes at Eau Claire are also important as we prepare for our resource update at year-end. As for the impact of the forest fire, we had a four-week hold on operations, but we are now actively drilling at full capacity with a helicopter and two drills turning on the property. Investors should expect a steady flow of news through year-end from Eau Claire, Percival, and a number of strong prospective anomalies to the east. With a recent directors and management site visit behind us, the three takeaways were: the reminder of the incredible infrastructure backdrop that exists in the James Bay region, the visual size and scale of the Eau Claire project today, and the tremendous potential for discovery surrounding the 30 kilometres of the Cannard Deformation Zone.”