3 June 2025
TORONTO, Canada – June 3, 2025 – Fury Gold Mines Limited (TSX and NYSE American: FURY) (“Fury” or the “Company”) is pleased to provide an update on exploration plans for the Committee Bay project, located in the eastern Kitikmeot region of Nunavut, Canada. The 2025 Committee Bay exploration program will commence in early July 2025 and will comprise 7 – 10 diamond drill holes totaling approximately 5,000 metres (m).
Drilling will have three primary goals;
“Following the strategic investment by Agnico Eagle last week, we are pleased to announce our return to the Committee Bay project in Nunavut this summer,” commented Tim Clark, CEO of Fury. “The project has historically attracted strong investor interest due to previous high-grade gold discoveries and its location within a 300-kilometre greenstone belt. Our upcoming program aims to test new geological assumptions based on recent exploration work, and we look forward to unlocking further value as our exploration progresses.”
2025 Exploration Program
The Committee Bay project spans the entire 300 km long Committee Bay Greenstone belt in the eastern Kitikmeot region of Nunavut. The land package comprises a series of mineral claims and leases covering approximately 250,000 hectares, encompassing the Three Bluffs Gold deposit, more than five advanced gold targets, and several significant gold anomalies. The high-grade Three Bluffs Gold deposit is located centrally within the project and is estimated to contain 524,000 oz. of gold at 7.85 g/t gold in the indicated mineral resource category and 720,000 oz. of gold at 7.64 g/t gold in the inferred mineral resource category (see Committee Bay NI43-101 report “Technical Report on the Committee Bay Project, Nunavut Territory, Canada” dated September 11, 2023”). Drilling in 2021 at Three Bluffs intercepted 3 zones of mineralization: 13.93 g/t gold over 10 m; 18.67 g/t gold over 3 m; and 23.2 g/t gold over 1 m. The first two noted intercepts occur outside of the main iron formation in sheared metasediments with gold occurring at the apexes of the crenulations. The shear hosted mineralization runs sub-parallel to the main iron formation (Figure 1) and has not been a focus of exploration in the past. The 2021 intercept is 250 m below surface and remains open up dip, down dip, as well as along strike in both directions. Drilling in 2025 will target five to six 100 – 200 m step-outs from the 2021 intercept for a total of approximately 2,250 m (Figure 2).