Ms. Salisha Ilyas reports

FURY COMMENCES 2026 DRILLING PROGRAM AT COMMITTEE BAY IN NUNAVUT

The 2026 drill program is under way at Fury Gold Mines Ltd.'s Committee Bay project, located in the eastern Kitikmeot region of Nunavut, Canada. The project covers over 235,000 hectares with district-scale discovery potential.

The 2026 drill program will comprise approximately 5,000 metres (m) of diamond drilling, focusing on the Three Bluffs deposit and the Antler prospect where past drilling has identified significant gold mineralization. At the Three Bluffs deposit approximately 13 holes will be drilled along approximately one kilometre of strike length with a key focus to infill and expand the known mineral resources.

In the 2026 program, three holes are currently planned at the Antler gold zone to test high-priority stepout and infill targets identified through a review of historical drilling. Two previously drilled intersections -- hole 16AN044 (9.9 metres at 3.19 grams per tonne Au (gold)) and hole 11AN042 (13.0 m at 4.0 g/t Au) -- returned significant gold grades but remain untested along strike and at depth. A resource gap exists above the 2011 intersection, presenting an opportunity for resource expansion in an area of known mineralization. The Antler zone was last drilled in 2016 by a previous operator. Results from the 2026 program are expected to be incorporated into a future updated mineral resource estimate.

"We are excited to be returning to Committee Bay in 2026. Our plans this year will focus on areas where we believe additional drilling could expand the project's mineral resource and potentially add ounces at Antler, which is less than 2km away from the Three Bluffs deposit," commented Tim Clark, chief executive officer of Fury. "The summer program reflects our continued focus on growing ounces at Committee Bay, thereby generating value across Fury's gold portfolio through disciplined technical execution."

The planned drilling strategy is focused on maximizing drilling efficiency and increasing drill density in priority areas through a systematic approach. The selected areas required less helicopter time and are less affected by weather-related disruptions, allowing the company to advance the program more efficiently. The program will also provide additional information on grade variability, which can improve the understanding of geological structure for future exploration and development planning.

Three Bluffs deposit

The high-grade Three Bluffs gold deposit is located centrally within the Committee Bay project and is estimated to contain 524,000 ounces of gold in 2.1 million tonnes (Mt) at 7.85 g/t gold in the indicated mineral resource category and 720,000 oz in 2.9 Mt of gold at 7.64 g/t gold in the inferred mineral resource category (see Committee Bay NI 43-101 report "Technical Report on the Committee Bay Project, Nunavut Territory, Canada" dated Sept. 11, 2023).

The 2025 drilling program at Three Bluffs consisted of six diamond drill holes totalling approximately 2,778 m. Four of the drill holes (2,041 m), focused on expansion drilling at the Three Bluffs shear zone, intercepting gold mineralization across 315 m of strike with mineralized widths of up to 19.5 m, including 5.73 grams per tonne (g/t) gold across 3.0 m within a broader interval of 1.18 g/t gold over 19.5 m (hole 25TB155), which ended in the mineralized zone. The remaining two drill holes, which totalled 737 m, tested the southern contact of the eight-kilometre-long Raven shear zone, which historically returned drill intercepts of up to 12.60 g/t gold over 5.49 m and 31.1 g/t gold across 2.8 m with outcropping gold mineralization defined over 1.4 km (see release dated Nov. 10, 2025).

Two thousand twenty-five drilling in Nunavut successfully extended mineralization at Three Bluffs and confirmed the previously underexplored regional scale shear zones contain strong alteration and gold mineralization across significant widths. Consistent with high-grade orogenic gold systems, gold mineralization within the Three Bluffs shear zone is highly variable over short distances.

Antler prospect

The Antler prospect is located within the Committee Bay gold belt, approximately 1.2 km from the Three Bluffs deposit. Drilling will test extensions of known mineralization at depth and along strike, including to the west, which will require additional drilling to confirm continuity in that area.

In addition, the company hopes to carry out a prospecting and sampling program on other previously identified gold occurrences on the property. The goal of this program is to prioritize other areas for future diamond drilling. Fury is fully financed to complete both of the proposed 2026 exploration programs at committee Bay and its Eau Claire property in the Eeyou-Istchee/James Bay region of Quebec.

Valerie Doyon, PGeo, 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 this press release.

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 gold portfolio 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.

We seek Safe Harbor.