Fury Highlights 2024 Milestones and Provides Outlook for the Year Ahead
Fury Gold Mines Limited
Suite 601, 34 King St. East, Toronto, ON, Canada M5C 2X8
TSX: FURY NYSE American: FURY
www.furygoldmines.com
TSX: FURY NYSE American: FURY
www.furygoldmines.com
Fury Highlights 2024 Milestones and Provides Outlook for the
Year Ahead
TORONTO, Canada – December 12, 2024 – Fury Gold Mines Limited (TSX: FURY, NYSE American:
FURY) (“Fury” or the “Company”) is pleased to review the Company’s corporate and exploration
achievements from the last 12 months. Fury had an active 2024, acquiring 100% interest in the Éléonore
South project; announcing an increased Mineral Resource Estimate at the Eau Claire project, adding
307Koz gold (Au) in the Measured and Indicated category (a 36.0% increase) and 223koz Au in the
Inferred category (a 44.6% increase); drilling a new discovery at the Serendipity Prospect, intercepting
12.16 g/t Au over 3 metres (m); and ending the year in a position of financial strength with C$5 million
in the treasury and 51 million common shares of Dolly Varden Silver.
"Fury had a strong start to 2024 with the purchase of Newmont's half of the Éléonore South Joint
Venture and the completion of a Mineral Resource Update at the Eau Claire project. However, it was
the second half of the year where we were most active with exploration programs at all three of our
projects," commented Tim Clark, CEO of Fury. "The gold price notwithstanding, markets in the junior
exploration sector have remained challenging. However, we will begin the year with excitement,
encouraged by a broader inventory of drill-ready targets and renewed investment in the region with
Newmont’s pending sale of the Éléonore Mine, adjacent to our property. In the near term, the 2025
drilling will begin at the Éléonore South anomaly, a highly prospective target that has the same scale
and signature as the Éléonore Mine.”
Highlights
Fury’s top milestones and achievements of 2024 include:
• Strategic Project Acquisition: The Company consolidated ownership to 100% at the Éléonore
South project by purchasing Newmont’s 49.978% interest for C$3 million and Newmont’s 30
million shares of Sirios for C$1.3 million. This acquisition provides full control of a project that
represents significant potential for new discovery and is also strategically positioned near
Newmont’s Éléonore Mine (recently sold to Dhilmar Ltd).
• Increased Mineral Resource Estimate at Eau Claire: Fury announced an updated Mineral
Resource Estimate at the Eau Claire project in Quebec, adding 307Koz Au in the Measured and
Indicated category (a 36.0% increase) and 223koz Au in the Inferred category (a 44.6%
increase). The new combined open pit and underground mineral resource is now 1.16Moz gold
(Au) at a grade of 5.64 g/t Au in the Measured and Indicated category as well as an additional
723koz gold at a grade of 4.13 g/t Au in the Inferred Category.
Fury Gold Mines Limited
Suite 601, 34 King St. East, Toronto, ON, Canada M5C 2X8
TSX: FURY NYSE American: FURY
www.furygoldmines.com
TSX: FURY NYSE American: FURY
www.furygoldmines.com
• Successful Drill Programs and New Discovery at Serendipity: At the Éléonore South project, Fury
completed a 2300 m drill program in seven holes focused on the JT – Moni trend, intercepting
anomalous gold mineralization in all seven holes. Later in the year, the Company drilled a new
discovery at the greenfield Serendipity Prospect on the Eau Claire project, intercepting 12.16 g/t
gold over 3.0 m. This new discovery continues to demonstrate that the targeting techniques of
Fury’s technical team are effective and show a pathway to new discoveries on the Eau Claire
property.
• Numerous Highly Prospective Targets Identified: Fury has created a pipeline of targets for
potential drilling in 2025 at the Éléonore South, Eau Claire, and Committee Bay projects. At
Éléonore South this includes six priority drill targets at the highly prospective Éléonore Mine
style anomaly. At Eau Claire, there are over a dozen gold and multi-element geochemical
anomalies along the Cannard Deformation Zone and Hashimoto Deformation Zone. Finally, at
Committee Bay, three drill-ready shear zone hosted targets have been identified at Three Bluffs,
Raven, and Burro West.
• Financial Strength: The Company will end the year with C$5 million in the treasury and 51
million common shares of Dolly Varden Silver, strengthening Fury’s financial position and
funding further exploration at its Canadian projects.
• Responsible Mining: Fury obtained a UL ECOLOGO® certification, a third-party environmental
certification that confirms the Company’s commitment to sustainability and reduced
environmental impact. Additionally, Fury conducted a third annual Digbee ESG Certification, an
independent ESG evaluation that continues to validate the Company’s existing ESG engagement
and strategy. Fury, in partnership with the Cree Hunters Economic Security Board and 15 other
mining and exploration companies, contributed to a voluntary fund totaling C$750,000 for the
Reconstruction Initiative Forest Fires Fund 2023. This initiative aims to support the rebuilding of
cabins destroyed by the 2023 wildfires in the Eeyou Istchee James Bay territory of Quebec.
2025 Exploration Outlook
With C$2.5 million in flow-through funding in the treasury, Fury will commence its 2025 exploration
season with a 3,000 – 5,000 m diamond drilling program at the Éléonore South gold project in Quebec.
This program will focus on six robust geochemical targets across over 3 kilometres (km) of prospective
folded sedimentary stratigraphy (see news release dated November 12, 2024). These six targets
encompass multi-point biogeochemical gold anomalies and correlate with pathfinder elements, most
notably arsenic which is associated with gold mineralization at the Éléonore Mine.
Fury will announce the remainder of its exploration plans for the year in the coming weeks and months.
For more details on the outlook for 2025, you can listen to the recent interview on the Korelin Economics
Report with CEO, Tim Clark, and SVP Exploration, Bryan Atkinson.
LISTEN HERE: https://www.kereport.com/2024/12/10/fury-gold-mines-2024-exploration-recap-
2025-discovery-outlook-newmonts-sale-of-eleonore-for-795mil/
Fury Gold Mines Limited
Suite 601, 34 King St. East, Toronto, ON, Canada M5C 2X8
TSX: FURY NYSE American: FURY
www.furygoldmines.com
TSX: FURY NYSE American: FURY
www.furygoldmines.com
Upcoming Event
In addition, the Company will be exhibiting at the upcoming Vancouver Resource Investment
Conference (VRIC) on January 19-20, 2025, at the Vancouver Convention Centre, West. To meet with
the team, you can visit booth #115.
REGISTER HERE: https://cambridgehouse.com/vancouver-resource-investment-conference
Bryan Atkinson, P.Geol, Senior Vice President Exploration at Fury, is a "qualified person" within the
meaning of Canadian mineral projects disclosure standards instrument 43-101 and has reviewed and
approved the technical disclosures in regards to Fury’s Nunavut based projects in this press release.
Valérie Doyon, P.Geo, Senior Project Geologist at Fury, is a "qualified person" within the meaning of
Canadian mineral projects disclosure standards instrument 43-101 and has reviewed and approved the
technical disclosures in regards to Fury’s Quebec based projects in this press release.
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 51 million common share position in Dolly Varden
Silver Corp (16.25% 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 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
Forward-Looking Statements and Additional Cautionary Language
This release includes certain statements that may be deemed to be "forward -looking statements"
within the meaning of applicable securities laws, which statements relate to the future exploration
operations of the Company and may include other statements that are not historical facts. Forward-
looking statements contained in this release primarily relate to statements that suggest that the future
work at Éléonore South, Eau Claire, or Committee Bay will potentially increase or upgrade the gold
resources.
Although the Company believes that the assumptions and expectations reflected in those forward-
looking statements were reasonable at the time such statements were made, there can be no certainty
Fury Gold Mines Limited
Suite 601, 34 King St. East, Toronto, ON, Canada M5C 2X8
TSX: FURY NYSE American: FURY
www.furygoldmines.com
TSX: FURY NYSE American: FURY
www.furygoldmines.com
that such assumptions and expectations will prove to be materially correct. Mineral 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, 2023 and subsequent continuous disclosure filings with the Canadian
Securities Administrators available at www.sedarplus.ca and the Company's Annual Report available
at www.sec.gov. Readers should not place heavy reliance on forward-looking information, which is
inherently uncertain.