Fury Gold Mines Limited (Fury or the Company) announced that Fury and Newmont Corporation (Newmont) as purchasers have concurrently agreed, through their respective subsidiaries, to buy-out the remaining approximately 23.77% participating interest of Azimut Exploration Inc. on a pro-rata basis. The 100% Éléonore South Joint Venture (ESJV) interests will then be Fury 50.022% and Newmont 49.978% with Fury remaining operator under an amended and restated joint venture agreement. The cost to Fury of the 11.902% additional participating interest in the joint venture will be approximately CAD 1.2 million.

Completion of the purchase is subject to certain conditions precedent and is expected to close in the third quarter of 2022.