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.