Fury Gold Mines Limited announced the completion of a 29 line-kilometre Induced Polarization (IP) ground geophysical survey at the high-grade Percival prospect within the EauClaire project located in the Eeyou Istchee Territory in the James Bay region of Quebec. The mineralization at Percival has a clear resistivity signature and the survey has identified a number of similar resistivity anomalies that coincide with biogeochemistry gold and trace element anomalies over a 6.5-kilometre strike length. The survey covered eight of the fifteen previously announced biogeochemical targets along the Percival trend.

This newly acquired data is being incorporated into the final drill targeting for the upcoming summer 2022 drill program at Percival. The survey identified discrete coincident resistivity and conductivity anomalies which correspond with the sulphide-rich silica breccia gold-bearing bodies at Percival. IP Survey Details the Percival prospect, located 14km east of the Eau Claire deposit, is currently represented by a 400 metre (m) by 100m mineralized footprint hosted within folded sulphidized and silicified breccias in an interbedded volcanic and sedimentary sequence represented by historical drill intercepts of 93.1mof 2.22 g/t gold, 9.0m of 6.26 g/t gold, 8.5m of 7.13 g/t gold and 2.0m of 8.47 g/t gold.

The IP survey methodology is useful for fingerprinting the sulphide rich silica dominant Percival style of mineralization, by identifying the resistive silicified units coinciding with a highly conductive, response due to the high sulphides content. In the western portion of the survey iron formation in close proximity to highly conductive graphitic shales obscure the conductivity signature associated with the sulphide mineralization at Percival prospect, however, the mineralization is imaged as relative conductive lows adjacent to the graphitic shales. In the eastern portion of the grid, these graphitic shales are less prevalent, and the IP survey has defined a number of coincident resistivity and conductivityhighs that the Company plans on evaluating and advancing to drill stage.

The IP survey also confirmed the presence of NW /SE structures that appear to be an important control on mineralization observed at the Percival prospect. This structural trend coincides with a number of biogeochemistry anomalies and the technical team interprets these structures as a key component to concentrating gold mineralization along the Percival trend. This vector was previously derived from the interpretation of the biogeochemical and magnetics data.

This structural trend is parallel to the regional fold axis that links the Percival and Serendipity prospects. The IP survey consisted of a total of 28.89 line-km across three distinct areas of the Percival trend covering eight of the fifteen previously announced biogeochemical targets. Lines ranged from 0.975 to 2.025 km with spacing of 125 to 250 metres (m).

The survey was carried out using a pole-dipole electrode array with a nominal station spacing of 37.5m and readings ranging from n = 1 to n=20 allowing for a depth of survey of up to 325m.