Mr. Tim Clark reports

INFILL DRILLING AT FURY'S HINGE TARGET CONTINUES TO INTERCEPT MULTIPLE ZONES OF GOLD MINERALIZATION

Fury Gold Mines Ltd. has provided additional results from the 2023 infill drilling program at the Hinge target at the high-grade Eau Claire gold project located in the Eeyou Istchee territory in the James Bay region of Quebec. The Hinge Target infill program has increased confidence in the geological model and potential for expansion of the Eau Claire resource to the west. Drilling continues to intercept multiple zones of gold mineralization, including 5.5 metres of 4.52 grams per tonne gold and 3.0 metres of 3.34 grams per tonne gold from 23EC-069; 1.0 metre of 20.20 grams per tonne gold and 3.5 metres of 3.51 grams per tonne gold from 23EC-070; 1.0 metre of 19.55 grams per tonne gold from 23EC-066; and 3.5 metres of 3.82 grams per tonne gold from 23EC-067 (see attached table). Results from an additional 11 drill holes are still being processed for the Hinge target.

"We are pleased to announce that we have completed approximately 19,000 metres within 31 holes drilled between the Hinge target at the Eau Claire deposit and the Percival prospect, 14 kilometres to the east. We not only exceeded our planned 15,000 metres of drilling for this year's program, but we also came in under budget," commented Tim Clark, chief executive officer of Fury. "Going forward, we have 16 more drill holes pending results and we reiterate that Fury remains one of the best positioned junior explorers in the sector."

Western Hinge target

The Hinge Target sits immediately to the west, adjacent to the high-grade Eau Claire gold deposit. Drilling to date has identified nineteen discrete sub-vertical quartz tourmaline veins concentrated in two 100m wide corridors. The Hinge Target extends to the west of the deposit by over 400m with vertical continuity of veining of approximately 300m and remains open both to the west and up and down dip (Figure 2). The 2023 exploration program at the Hinge Target focused on tightening the nominal drill spacing to 60-80m to demonstrate the continuity of the mineralized vein corridors for eventual inclusion in an updated mineral resource estimation at Eau Claire.

"The Hinge Target has proven to be relatively predictable. The drill intercepts are within 1-2m of where our models predicted they would be and this provides a lot of confidence as we move forward into the resource modeling and estimation workflow. Our Quebec-based technical team and contractors delivered well above expectations this season and we are looking forward to the results from the remaining eleven drill holes at the Hinge and five at and along trend of the Percival Prospect," stated Bryan Atkinson, SVP, Exploration of Fury.

Sampling and Assaying DisclosureAnalytical samples for the Drill Program were taken by sawing HQ diameter core into equal halves on site with one half sent to ALS Chemex in Val D'or, Quebec, Canada for preparation and analysis. All samples were assayed using a 50 g nominal weight fire assay with inductively coupled plasma - atomic emission spectrometry finish (Au-ICP22) and multi-element four acid digest ICP-AES/ICP-MS method (ME-MS61). Where Au-ICP22 results were greater than 0.5 ppm Au the assay was repeated with a 50 g nominal weight fire assay with atomic absorption finish (Au-AA24). Samples containing more than 10 ppm by Au-AA24 were re-assayed with 50 g nominal weight fire assay with gravimetric finish (Au-GRA22). QA/QC programs using internal standard samples, field and lab duplicates and blanks indicate good overall accuracy and precision.

David Rivard, P.Geo, Exploration Manager 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 Limited

Fury Gold Mines Limited is a well-financed Canadian-focused exploration company positioned in two prolific mining regions across Canada and holds a 59.5 million common share position in Dolly Varden Silver Corp (22% 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.

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