Fury Gold Mines Limited announced that Fury and certain affiliates of Newmont Corporation ("Newmont") have entered into an agreement whereby Fury will purchase Newmont's 49.978% interest in Éléonore South for CAD 3 million. As part of the consolidation of Éléonore South, Fury has also agreed to purchase Newmont's 30,392,372 shares of Sirios Resources Inc. ("Sirios") for CAD 1.3 million. 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. The Éléonore South project is strategically located in an area of prolific gold mineralization with Newmont's Éléonore Mine to the north and Sirios' Cheechoo deposit to the east. Prospecting to date has identified two distinct styles of mineralization within the project, structurally controlled quartz veins hosted within sedimentary rocks similar to the high-grade mineralization observed at the Éléonore Mine as well as intrusion-related disseminated gold mineralization similar to that seen at the low-grade bulk tonnage Cheechoo deposit with higher grade potential as seen at the JT and Moni prospects on the project.

Numerous gold in-till anomalies remain undrilled throughout the project and will be a focus for Fury. The bulk of the untested gold anomalies are similar in characteristics to the Cheechoo style of mineralization. The JT and Moni prospects represent a potential higher-grade style of intrusion related gold mineralization with historical drilling intercepting 53.25 metres (m) of 4.22 g/t gold (Au); 6.0m of 49.50 g/t Au and 23.8m of 3.08 g/t Au .

Several of the noted drill intercepts have not been followed up on and remain open. Analytical samples were taken by sawing BTW diameter core into equal halves on site and sent one of the halves to ALS Lab in Rouyn-Noranda, Val d'Or, QC, and Sudbury, ON for preparation and analysis. All samples are assayed using 50 g nominal weight fire assay with atomic absorption finish (Au-AA24) and multi-element four acid digest ICP-AES/ICP-MS method (ME-MS61).

Where Au-AA24 results were greater than 3 ppm Au the assay were repeated with 50 g nominal weight fire assay with gravimetric finish (Au-GRA22). QA/QC programs using internal standard samples, field and lab duplicates and blanks indicate good accuracy and precision in a large majority of standards assayed. True widths of mineralization are unknown based on current geometric understanding of the mineralized intervals.