Mr. Tim Clark reports

FURY ADVANCES METALLURGICAL TESTWORK PROGRAM AT THE EAU CLAIRE GOLD PROJECT IN QUEBEC

Fury Gold Mines Ltd. has commenced additional metallurgical test work to advance the company's 100-per-cent-held Eau Claire gold project further toward feasibility.

Fury has engaged SGS Canada Inc. to conduct a comprehensive metallurgical test work program in support of Eau Claire feasibility work following on previous test work referred to in the project's preliminary economic assessment (PEA) (see news release dated Sept. 2, 2025). The program will support feasibility and development planning for the project, located in the Eeyou-Istchee/James Bay region of Quebec.

The program, which will have an approximate duration of three months, is being carried out to better understand the characteristics of the ore, which will allow Fury the option to build a mill or have the ore toll milled. Test work will complement the initial metallurgical program completed for the PEA, with the objective of demonstrating repeatability of performance and providing missing information that is required at the prefeasibility level. The program is expected to provide the data required to:

• Optimize ore processing: determine comminution parameters (including grinding work index), evaluate grind size and assess beneficiation flow sheets (gravity, flotation and leaching) to maximize gold recovery;
• Support tailings management: characterize tailings with respect to environmental performance, solid-liquid separation, rheology and paste backfill suitability;
• Confirm environmental compliance: conduct detailed environmental testing to support adherence to applicable regulatory requirements.

Results will also provide a strong foundation for developing a complete process flow sheet supported by detailed design criteria, enabling completion of mass and water balances as well as equipment sizing required for process plant layout and design.

"This metallurgical program will play an important role in our feasibility work as we continue to advance the Eau Claire project towards a pathway to production. By focusing on optimizing ore processing and confirming a robust process flow sheet, we continue to enhance project economics and demonstrate the strong value opportunity for investors," commented Tim Clark, chief executive officer of Fury.

About Fury Gold Mines Ltd.

Fury Gold Mines is a well-financed Canadian-focused exploration company advancing the Eau Claire gold project toward development, which holds a 5.8-per-cent equity position in Contango Silver and Gold Inc. Led by a management team and board of directors with proven success in financing and advancing exploration assets, Fury intends to grow its multimillion-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.

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