20 June 2025
TORONTO, Canada – June 20, 2025 – Fury Gold Mines Limited (TSX and NYSE American: FURY) (“Fury” or the “Company”) is pleased to announce that, further to its previous announcement (see news release dated June 5, 2025), it has closed a private placement of 3,999,701 common shares of the Company that qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (“FT Shares”) at a price of C$0.77 per FT Share for total gross proceeds of C$3,079,800 (the “Offering”).
In connection with the Offering, Agnico Eagle Mines Limited (“Agnico Eagle”) exercised its existing participation right and acquired 440,000 common shares of the Company (“Common Shares”) at a price of C$0.67 per Common Share for gross proceeds of C$294,800 (the “Private Placement”). The Common Shares acquired in the Private Placement do not qualify as “flow-through shares”. The Private Placement, together with the Offering, resulted in the Company raising aggregate gross proceeds of C$3,374,600. The proceeds from the Private Placement will be used to advance the Company’s Committee Bay exploration program.
“We are excited by the interest in the Offering from two large institutional investors and one of our directors,” commented Tim Clark, CEO of Fury. “The proceeds from this financing will help us pursue exploration opportunities at our Quebec and Nunavut projects, driving the potential for discovery across our mineral exploration portfolio.”
One director of the Company purchased 52,000 FT Shares. The Company is relying on the exemption from the formal valuation and minority shareholder approval requirements pursuant to sections 5.5(a) and 5.7(1)(a) of Canadian Multilateral Instrument 61-101 – Protection of Minority Shareholders in Related Party Transactions, as neither the fair market value of any securities issued, nor the consideration paid, exceeds $2.5 million or 25% of the Company’s market capitalization, as applicable.