Fury Gold Mines : Corporate Presentation - December 2021

EXPLORING FOR

HIGH-GRADE GOLD

IN CANADA

TSX | NYSE-A: FURY

Investor Presentation

December 2021

Disclaimer

Cautionary Notes

This presentation is intended to provide readers with an overview of Fury Gold Mines Limited. (the "Company"). The Company has made reasonable efforts to ensure that the information contained in this presentation is accurate as of November 1, 2021, however it is not a prospectus and does not necessarily contain all the information needed to make an investment decision about the Company. As discussed below, this presentation includes a number of estimates and assumptions that are inherently subject to significant exploration, business, economic, regulatory and competitive uncertainties and risks.

Forward-Looking Information

This presentation includes many statements that are "forward-looking" in nature within the meaning of applicable securities laws. These statements relate to many things about the future activities of the Company and factors affecting it. Generally, statements that are not historical facts will likely be forward looking to some degree, and will use terminology such as "plans", "expects", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes". Forward-looking information and statements in this presentation reflects management's current estimates, or expectations regarding these future events and challenges. More specifically, forward-looking information contained in this presentation includes information relating to the outlook for the Company's mineral properties, their exploration potential, and the likely costs of further, exploration and the Company's growth plans. There can be no certainty that such statements will prove to be accurate, and actual results and future events could differ materially from those suggested by such statements. Assumptions, which underlie the forward-looking statements include the Company's ability to raise additional capital to continue with its exploration, and if warranted development plans, its ability to obtain or renew the licenses and permits necessary for its current and future operations; and the Company's assumptions around the impact of the COVID-19 pandemic, the future price of minerals, especially gold; and the success of the Company's exploration activities. Readers should refer to the risks discussed in the Company's Annual Information Form and MD&A for the year ended December 31, 2020 and subsequent continuous disclosure filings with the Canadian Securities Administrators available at www.sedar.com and the Company's Annual Report on Form 40-F for the year ended December 31, 2020, and base Shelf Prospectus filed with the United States Securities and Exchange Commission (the "SEC") available at www.sec.gov. Readers should not place heavy reliance on forward-looking statements, which can speak only as of the date made.

Mineral Resource Terminology

This presentation may use some or all of the following technical terms "mineral reserve", "proven mineral reserve", "probable mineral reserve", "mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource", which are Canadian mineral project disclosure terms as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43- 101"). NI 43-101 references the guidelines set out in the Canadian Institute of Mining ("CIM"), Metallurgy and Petroleum - Definition Standards on Mineral Resources and Mineral Reserves.

United States Mineral Terminology

CIM terms are not considered defined terms under the SEC's mining rules. The SEC has recently adopted amendments to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose securities are registered with the SEC under the United States Securities Exchange Act of 1934, as amended. (the "SEC Modernization Rules"). United States investors are cautioned that there are

differences in the definitions under the SEC Modernization Rules and the CIM Definition Standards.

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Cautionary Note to United States Investors

There is no assurance any mineral resources that the Company may report as "measured mineral resources", "indicated mineral resources" and "inferred mineral resources" under NI 43-101 would be the same had the Company prepared the resource estimates under the standards adopted under the SEC Modernization Rules. United States investors are also cautioned that while the SEC will now recognize "measured mineral resources", "indicated mineral resources" and "inferred mineral resources", investors should not assume that any part or all of the mineralization in disclosed herein to be in certain categories will ever be converted into a higher (more reliable) category of mineral resources or into mineral reserves.

Mineralization described using these terms has a greater amount of uncertainty as to their existence and feasibility than mineralization that has been characterized as "reserves" (proven or probable). Accordingly, United States investors are cautioned not to assume that any

"measured mineral resources", "indicated mineral resources" or "inferred mineral resources" that the Company reports are or will ever be

economically or legally mineable. Further, "inferred mineral resources" have a greater amount of uncertainty as to their existence and as to whether they can be mined legally or economically. Therefore, United States investors are also cautioned not to assume that all or any part of the "inferred mineral resources" exist. In accordance with Canadian securities laws, estimates of "inferred mineral resources" cannot form the basis of feasibility or other economic studies, except in limited circumstances where permitted under NI 43-101. Accordingly, information contained in this presentation describing the Company's mineral deposits may not be comparable to similar information made public by United States companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder including the SEC Modernization Rules.

Technical and Scientific Information Except where otherwise stated in this presentation, the scientific and technical information included herein has been derived or based on the following technical reports prepared in accordance with NI 43-101: (a) the technical report entitled "Technical Report, Updated Mineral Resource Estimate and Preliminary Economic Assessment on the Eau Claire Gold Deposit, Clearwater Property, Quebec, Canada" dated effective February 4, 2018, (b) "Technical Report on the Committee Bay Project, Nunavut Territory, Canada" dated October 23, 2017, with an effective date of May 31, 2017, (c) "Technical Report, Updated Mineral Resource Estimate and Preliminary Economic Assessment on the Homestake Ridge Gold Project, Skeena Mining Division, British Columbia" dated effective May 29, 2020, and amended June 24, 2020, each of which has been filed with Canadian securities regulatory authorities on SEDAR (and is available at www.sedar.com) and with the Securities and Exchange Commission on EDGAR (and is available at www.sec.gov).

All disclosure in this presentation of a scientific or technical nature with respect to the Eau Claire Project, the Committee Bay Project or the Homestake Ridge Project based on information arising since the date of the applicable technical report, was reviewed and approved by David Rivard, P.Geo, Senior Exploration Manager of the Company, who is a "qualified person" for the purposes of NI 43-101. He has reviewed and approved the technical disclosures in this presentation in relation to all Quebec projects. Michael Henrichsen, P.Geo., SVP Exploration at Fury, is also a "qualified person" within the meaning of National Instrument 43-101 and has reviewed and approved the technical disclosure in this presentation in relation to Committee Bay. Mr. Rivard and Mr. Henrichsen are accordingly not "independent" qualified persons.

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Advancing High-Grade,Low-Risk Gold Portfolio

Committee Bay

Nunavut, MRE '17

Ind3: 524,000 oz at 7.85g/t Au

Inf3: 720,000 oz at 7.64 g/t Au

Pursuing multi-million ounce discoveries

Homestake Ridge

British Columbia, PEA '20

Ind2: 155,700 oz. at 8.18 g/t Au, 1.7M oz. at 90.5 g/t Ag

Inf2 : 734,200 oz at 5.52g/t Au 15.8M oz. at 118.6 g/t Ag

Drilling high-gradeore-shoot and converting Homestake Silver

Eau Claire

Quebec, PEA'18

M&I1: 808,000 oz at 6.65 g/t Au

Inf1: 458,000 oz at 7.48 g/t Au

Target to multiply with exploration along 5km deposit trend

Éléonore South JV (38.12%) Operator (Quebec)

Growth from increasing scale and finding more gold

1.	See Eau Claire NI43-101 Report dated Feb 4, 2018 filed under Eastmain's profile at www.sedar.com. Cut-off grade 0.5 g/t Au open pit and 3.0 g/t Au underground.	4
2.	See Homestake Ridge NI43-101 Report dated May 29, 2020 as amended Jun 24, 2020 filed under Auryn's profile at www.sedar.com. Cut-off grade 3.0 g/t AuEq.
3.	See Committee Bay NI43-101 Report dated May 31, 2017 as amended October 23, 2017 filed under Auryn's profile at www.sedar.com. Cut-off grade 3.0 g/t Au open pit and 4.0 g/t Au underground.

Balanced Management Team

Management and Board of Director

Management Team

TIM CLARK	MICHAEL HENRICHSEN	BRYAN ATKINSON
CEO & Director	SVP, Exploration	VP, Projects

LYNSEY SHERRY	SALISHA ILYAS
CFO	VP, Investor Relations

Board of Directors

IVAN BEBEK	JEFFREY MASON*	STEVE COOK*	MICHAEL HOFFMAN* SAGA WILLIAMS*
Chair	Lead Director

*Independent	5