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FURY.TO ·

Fury Announces Board and Executive Changes

Management Changes

Fury Gold Mines Limited

1630 - 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3

TSX: FURY NYSE American: FURY

www.furygoldmines.com

Fury Announces Board and Executive Changes

VANCOUVER, Canada - May 1 6, 2023 - Fury Gold Mines Limited (TSX: FURY, NYSE

American: FURY) ("Fury" or the "Company") is pleased to announce that independent

Director Brian Christie will serve as Board Chair going forward and Jeffrey Mason will continue

to serve as independent Director. The Company also announces that Michael Henrichsen, Chief

Geological Officer, has retired from his role and will remain a consultant to Fury.

"We would like to thank Michael for his valuable contributions, to help not only advance the

Eau Claire Re source, but position the Company for new discoveries, and to Jeffrey for his

valuable contributions as an independent Director and Board Chair. As Fury moves forward,

we will continue to pursue major discoveries at our multiple mineral exploration projects and

strive to grow the Company to be a top explorer in the sector,” commented Tim Clark, CEO of

Fury.

“I am very pleased to be appointed as the Chair of Fury, especially in such a positive gold price

environment, and I look forward to working with the Senior Management Team and the Board

as we advance the exploration efforts at the highly prospective Eau Claire gold property,”

stated Brian Christie, Chair of Fury.

About Fury Gold Mines Limited

Fury Gold Mines Limited is a well-financed Canadian-focused exploration company positioned

in two prolific mining regions across Canada and holds a 59.5 million common share position

in Dolly Varden Silver Corp (23.5%). Led by a management team and board of directors with

proven success in financing and advancing e xploration assets, Fury intends to grow its multi -

million-ounce gold platform through rigorous project evaluation and exploration excellence.

Fury is committed to upholding the highest industry standards for corporate governance,

environmental stewardship, community engagement and sustainable mining. For more

information on Fury Gold Mines, visit www.furygoldmines.com.

For further information on Fury Gold Mines Limited, please contact:

Margaux Villalpando, Manager Investor Relations

Tel: (844) 601-0841

Email: [email protected]

Website: www.furygoldmines.com

Fury Gold Mines Limited

1630 - 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3

TSX: FURY NYSE American: FURY

www.furygoldmines.com

Forward-Looking Information and Additional Cautionary Language

This release includes certain statements that may be deemed to be "forward -looking

information" or "forward-looking statements" within the meaning of applicable securities laws,

which relate to the future operations of the Company and other statements that are not

historical facts. Forward -looking information contained in this release primarily relates to

statements that suggest that changes in executive management will affect the future

performance of the Company.

Although the Company believes that the assumptions and expectations reflected in those

forward-looking statements were reasonable at the time such statements were made, th ere

can be no assurance that such assumptions and expectations will prove to be correct.

Exploration is a high-risk enterprise.

Readers should refer to the risks discussed in the Company's Annual Information Form and

MD&A for the year ended December 31, 2 021 and subsequent continuous disclosure filings

with the Canadian Securities Administrators available at www.sedar.com and the Company's

Annual Report including the Base Shelf Prospectus available at www.sec.gov. Readers should

not place heavy reliance on forward-looking information, which inherently can only as of the

date made.