Ms. Margaux Villalpando of Fury reports

FURY COMPLETES SALE OF DOLLY VARDEN SHARES

Fury Gold Mines Ltd. has completed the previously announced sale of 5.45 million common shares of Dolly Varden Silver Corp. (see news release dated March 6, 2024). The shares were sold at a price of 73.5 cents per Dolly Varden share to a group of institutional investors arranged by the company's agent, Haywood Securities Inc., for total gross proceeds of $4,005,750.

The net proceeds of the sale will be used for continued exploration at the company's Eau Claire and Eleonore South projects in Quebec and for general working capital. Following today's announcement, Fury now holds approximately 19.99 per cent of the common shares of Dolly Varden and is well capitalized for its coming exploration activities. Following the closing of Dolly Varden's bought deal offering, which is anticipated to close on March 21, 2024, Fury will hold approximately 18.99 per cent of its common shares outstanding.

Fury continues to hold 54,054,590 common shares of Dolly Varden after the sale. Fury will file an amendment to its current early warning report on SEDAR+ to reflect its change in ownership position. Fury continues to hold its shares in Dolly Varden for investment purposes, and will evaluate its investment on a continuing basis and may increase or decrease its holdings in the future, subject to its rights and obligations under the investor rights agreement dated Feb. 25, 2022, between Fury and Dolly Varden, a copy of which has been filed under Fury's SEDAR+ profile.

About Fury Gold Mines Ltd.

Fury is a well-financed Canadian-focused exploration company positioned in two prolific mining regions across Canada and currently holds a 54-million-common-share position in Dolly Varden (19.99-per-cent ownership). Led by a management team and board of directors with proven success in financing and advancing exploration assets, Fury intends to expand 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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