Fury Announces Up to C$12 Million Brokered Financing
Fury Gold Mines Limited
401 Bay Street, 16th Floor, Toronto, ON, Canada M5H 2Y4
TSX: FURY NYSE American: FURY
www.furygoldmines.com
LEGAL_47661005.2
Fury Announces Up to C$12 Million Brokered Financing
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, Canada – September 22, 2025 – FURY GOLD MINES LIMITED (TSX: FURY, NYSE
American: FURY) (“Fury” or the “Company”) is pleased to announce that it has entered into an
agreement with Haywood Securities Inc., on behalf of itself and a syndicate of agents to be formed
(collectively, the “ Agents”) pursuant to which the Agents have agreed to sell, on a commercially
reasonable efforts agency basis, any combination of: (i) national charity flow-through units (the “Charity
FT Units ”) at a price per Charity FT Unit of C $1.21; and (ii) traditional flow -through shares (the
“Traditional FT Shares ”) at a price per Traditional FT Share of C$ 1.00, for total aggregate gross
proceeds of up to C$12,000,000 (the “Offering”).
Each Traditional FT Share will be a common share of the Company (a “ Share”) that will qualify as a
“flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada). Each
Charity FT Unit will consist of one Share of the Company that will qualify as a “flow -through share”
within the meaning of subsection 66(15) of the Income Tax Act (Canada) (each, a “Charity FT Share”)
plus one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant
will also qualify as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax
Act (Canada). Each whole Warrant will entitle the holder thereof to purchase one Share (each, a
“Warrant Share”) at an exercise price of C$ 1.20 for 24 months following completion of the Offering.
The Warrant Shares will not qualify as “flow-through shares” within the meaning of the Income Tax
Act (Canada).
In addition, the Company has agreed to grant to the Agents an over -allotment option exercisable, in
whole or in part, at the sole discretion of the Agents, to sell up to an additional number of Charity FT
Units and/or Traditional FT Shares in any combination equal to 15% of the total Charity FT Units and
Traditional FT Shares issuable pursuant to the Offering, at the respective issue prices for a period of up
to 48 hours prior to closing of the Offering.
The Charity FT Units and Traditional FT Shares will be offered to purchasers pursuant to the listed
issuer financing exemption (“LIFE Exemption ”) under Part 5A of NI 45-106 in all of the provinces of
Canada, excluding Québec, and therefore will not be subject to resale restrictions pursuant to applicable
Canadian securities laws.
There is an offering document related to the Offering (the “ LIFE Offering Document ”) that can be
accessed under the Company’s profile on SEDAR+ at www.sedarplus.ca and on the Company’s website
at www.furygoldmines.com. Prospective investors should read this offering document before making
an investment decision.
LEGAL_47661005.2
Fury Gold Mines Limited
1630 - 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
TSX: FURY NYSE American: FURY
www.furygoldmines.com
The gross proceeds of the Offering will be used by the Co mpany to incur “Canadian exploration
expenses” that qualify as “flow-through mining expenditures” as such terms are defined in the Income
Tax Act (Canada)(the “ Qualifying Expenditures ”) on or before December 31, 2026 . All Qualifying
Expenditures will be renounced in favour of the subscribers of the Charity FT Units and the Traditional
FT Shares effective on or before December 31, 2025. The exploration expenditures to be incurred will
include expenditures in connection with the exploration of the Company’s Eau Claire and Committee
Bay projects, as detailed in the LIFE Offering Document.
The Offering is scheduled to close on or about October 10, 2025 , subject to customary closing
conditions, including receipt of all necessary approvals including the approval of the Toronto Stock
Exchange (“TSX”) and the NYSE American LLC. The Company has agreed to pay the Agents a cash
commission of up to 6% of the gross proceeds raised under the Offering.
The securities offered in the Offering have not been, and will not be, registered under the U.S. Securities
Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for
the account or benefit of, United States pe rsons absent registration or any applicable exemption from
the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This
news release is not an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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 an 11.3 million common share position in Dolly Varden
Silver Corp (12.9% of issued shares). Led by a management team and board of directors with proven
success in financing and advancing exploration assets, Fury intends to grow its multi -million-ounce
gold platform through rigorous project evaluation and exploration excellenc e. 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.
Neither the TSX nor its Regulations Services Provider (as that term is defined in the policies of the TSX)
accepts responsibility for the adequacy or accuracy of this news release.
For further information on Fury Gold Mines Limited, please contact:
Salisha Ilyas, Manager Investor Relations
Tel: (844) 601-0841
Email: [email protected]
Website: www.furygoldmines.com
Forward-Looking Information
This press release contains "forward -looking information" within the meaning of applicable Canadian
securities laws. Any statements that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often,
LEGAL_47661005.2
Fury Gold Mines Limited
1630 - 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
TSX: FURY NYSE American: FURY
www.furygoldmines.com
but not always, identified by words or phrases such as "believes", "anticipates", "expects", "is expected",
"scheduled", "estimates", "pending", "intends", "plans", "forecasts", "targets", or "hopes", or variations
of such words and phrases or statements that certain actions, events or results "may", "could", "would",
"will", "should" "might", "will be taken", or "occur" and similar expressions) are not statements of
historical fact and may be forward-looking statements.
Forward-looking information herein includes, but is not limited to, statements that address activities,
events or developments that Fury expects or anticipates will or may occur in the future including the
amount of the proceeds of the Offering, closing date of the Offering, proposed use of proceeds of the
Offering and the tax treatment of the Traditional FT Shares and Charity FT Units . Although Fury has
attempted to identify important factors that could cause actual actions, events or results to differ
materially from those described in forward -looking information including the speculative nature of
mineral exploration and development, fluctuating commodity prices, the future tax treatment of the
Traditional FT Shares and Charity FT Units, the risks and uncertainties related to the Offering not being
completed in the event that the conditions precedent thereto (including receipt of requisite regulatory
approvals) are not satisfied; uncertainties related to raising sufficient financing in a t imely manner and
on acceptable terms; and other risks and uncertainties disclosed in our recent securities filings
available at www.sedarplus.ca.
There may also be other factors that cause actions, events or results not to be as anticipated, estimated
or intended. There can be no assurance that such information will prove to be accurate, and actual
results and future events could differ materially from those anticipated in such information. Accordingly,
readers should not place undue reliance on forward -looking information. Fury does not undertake to
update any forward-looking information except in accordance with applicable securities laws.