Fury to Buy-Out Homestake Ridge Royalty
Fury to Buy-Out Homestake Ridge Royalty
Toronto, Canada – September 13, 202 1 – Fury Gold Mines Limited (TSX: FURY )(NYSE
American: FURY) (“Fury” or the “Company”) is pleased to announce that the Company has entered
into a Royalty Purchase Agreement (‘the Agreement”) for the purchase of a 2% net smelter return royalty
(“the Royalty’) on certain claims at its Homestake Ridge project in British Columbia (Figure 1). The
purchase price is $400,000, payable 25% in cash and 75% in shares priced at the 5-day VWAP prior to
completion on or before September 20, 2021, but in no event more than 328,367 shares or fewer than
239,000 shares. The shares will be subject to a four-month hold period in Canada. The TSX has
conditionally approved the listing of these shares.
“The purchase and consolidation of the Homestake Ridge Royalty provides for a simplified, cleaner
ownership structure of the project as it advances through future stages of discovery,” commented Tim
Clark, CEO of Fury.
The Homestake Ridge project is located in the prolific Iskut -Stewart-Kisault gold belt in northwestern
British Columbia, Canada, and covers approximately 7,500 hectares. The project is host to a high-grade
gold, silver, copper and lead resource , which remains open at depth and along strike. The Homestake
Ridge project is held 100% by the Company , subject to t wo royalties, with a 2% net smelter royalty
(“NSR”) applicable to the Crown grants; and a 2% Royalty on 14 mineral claims, which is the subject of
this Agreement.
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Figure 1: Homestake Ridge project location map showing land claims and royalties
About Fury Gold Mines Limited
Fury Gold Mines Limited is a Canadian -focused gold exploration company positioned in three prolific
mining regions across the country. Led by a management team and board of directors with proven
success in financing and exploring mining assets, Fury intends to grow and advance its multi -million-
ounce gold platform thr ough potential new discoveries . 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 Limited, visit www.furygoldmines.com.
For further information on Fury Gold Mines Limited, please contact:
Salisha Ilyas
Vice President, Investor Relations
Tel: (437) 500-2529
Email: [email protected]
Website: www.furygoldmines.com
Forward-Looking Statements and Additional Cautionary Language
This release includes certain statements that ma y be deemed to be “forward-looking information” or
“forward-looking statements” within the meaning of applicable Canada and United States securities laws
(“forward-looking statements”) , which relate to the future operations of the Company and other
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statements that are not historical facts. Generally, these forward-looking statements can be identified by
the use of forward-looking terminology such as "plans", "expects", "budget", "scheduled", "e stimates",
"forecasts", "intends", "anticipates", or "believes", or the negatives and/or variations of such words and
phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will be
taken", "occur", "be achieved" or "has the potential to". Forward-looking statements are information that
includes implied future performance and/or forecast information. Forward -looking statements in this
release reflect management's current estimates, predictions, expectations or beliefs regarding future
events. Specific forward-looking statements contained in this release include information which is subject
to final approvals of common share issuance by the TSX and NYSE.
There can be no assurance that such statements will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such statements. Forward -looking statements
reflect the beliefs, opinions and projections on the date such statements are made and are based on a
number of assump tions and estimates that, while considered reasonable at the time, are inherently
subject to significant business, economic, competitive, political and social uncertainties and
contingencies. Such assumptions, which may prove to be incorrect, include: gene ral economic and
industry growth rates; the outlook for minerals; the Company's ability to raise additional capital to
proceed with its exploration, development and operations plans; the Company's ability to obtain or renew
the licenses and permits necessary for its current and future operations; and the impact of the COVID -
19 pandemic. Although the Company believes that the assumptions and expectations reflected in those
forward-looking statements were reasonable at the time such statements were made, ther e can be no
assurance that such assumptions and expectations will prove to be correct.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which
may cause actual results, performance or achievements of the Company to be materially different (either
positively or negatively) from any future results, performance or achievements expressed or implied by
such forward-looking statements, including risks relating, but not limited, to: the COVID -19 pandemic;
the future price of minerals, including gold and other metals; and the success of the Company's
exploration and development activities. Readers should refer to the risks discussed in the Company's
Base Shelf Prospectus, Annual Information Form and MD&A for the year ended December 31, 2020 and
subsequent continuous disclosure filings with the Canadian Securities Administrators available at
www.sedar.com and the Company's Annual Report on Form 40-F for the year ended December 31, 2020
filed with the United States Securities and Exchange Commission and available at www.sec.gov. Readers
should not place heavy reliance on forward -looking statements, which can speak only as of the date
made. The forward -looking statements contained in this news release is expressly qualified by th is
cautionary statement. The Company will only update disclosure including forward oriented information
as required under applicable securities law.
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