Fury Gold Mines Limited announced the results from four out of five drill holes into the Snake Lake structure one kilometre (km) east of the known resource at the Eau Claire deposit located in the Eeyou Istchee Territory in the James Bay region of Quebec. Drill hole 21EC-018 intersected 94.1 g/t gold (Au) over 0.5m, extending high-grade mineralization 840 metres (m) down dip and drill hole 21SL-001 intersected 7.51 g/t gold over 2m, representing a 150m step-out from historical high-grade drill holes. In addition, a new mineralized horizon between the Eau Claire and Snake Lake structures was identified in the volcanic package where intervals of 19.6 g/t gold over 0.5m and 2.85 g/t gold over 5m (21SL-001) were intersected. These intercepts are located in an area where quartz-feldspar porphyry dykes are associated with abundant quartz-tourmaline veining. This geological setting and style of mineralization is similar to the Eau Claire deposit. Three of the four reported drill holes and a pending drill hole from the Snake Lake structure have observed coarse grained visible gold associated with veining and alteration. In addition, recent resource expansion drilling at the Eau Claire deposit has intersected visible gold. Given the consistent presence of visible gold in core drilled this year, Fury has made the decision to switch to a larger diameter (HQ) drill core that will result in a 25% larger sample size. As well as switching to HQ drill core, the Company is directing the assay laboratories to adjust sample preparation to better account for the variability of coarse-grained gold analysis. Snake Lake Exploration Drilling - Geology: The reported intercepts, located along the volcanic-sediment contact that characterizes the Snake Lake structure, of 94.10 g/t gold over 0.5m (21EC-018) and 6.43 g/t gold over 1.5m of (21EC-010), have increased the potential area of mineralization along the Snake Lake structure by 840m and 1,100m, respectively. Fury's technical team is encouraged at the scale across which high-grade mineralization has been observed and believes the Snake Lake structure has the potential to deliver a potential discovery within 2km of Eau Claire. The newly identified zone of mineralization is located 100m to 150m south of the Snake Lake structure and is hosted within mafic volcanic rocks with associated quartz-feldspar porphyry dykes and abundant quartz tourmaline veining over a 20m width, demonstrating a strong fluid pathway that has not been previously recognized. Fury's technical team believes the identification of a third mineralized structure along the deposit trend at this early stage of the program suggests a high probability of discovering significant new zones of mineralization throughout the immediate project area. Eau Claire Technical Disclosure: Analytical samples from the 2020 and 2021 program were taken by sawing NQ diameter core into equal halves on site with one half being sent to Actlabs in Val d'Or, QC for preparation and then to Actlabs in Thunder Bay, ON for analysis. All samples are assayed using 50 g nominal weight fire assay with atomic absorption finish (1A2B-50) and multi-element four acid digest ICP-AES/ICP-MS method (1F2). Where 1A2B-50 results were greater than 5 ppm Au the assay were repeated with 50 g nominal weight fire assay with gravimetric finish (1A3-50). QA/QC programs using internal standard samples, field and lab duplicates and blanks indicate good overall accuracy and precision. Historical drill samples at Snake Lake were taken by sawing NQ diameter core into equal halves on site with one half being sent to ALS Chemex in Val D'or, QC for preparation and analysis. All samples were assayed using a 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 5 ppm Au the assay was 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 overall accuracy and precision.