Ms. Margaux Villalpando reports

FURY ANNOUNCES C$2.5 MILLION FINANCING

Fury Gold Mines Ltd. intends to privately place with a small group of accredited and institutional investors in Canada up to 3,246,753 common shares of the company, at a price of 77 cents per share for total gross proceeds of $2.5-million.

Each share will qualify as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada) but will in all other respects be an ordinary Fury common share. The gross proceeds from the sale of the shares will be used to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures, as such terms are defined in the Income Tax Act (Canada), at the company's projects in Quebec and Nunavut. The company will renounce such qualifying expenditures with an effective date of no later than Dec. 31, 2025, in an amount of not less than the total amount of the gross proceeds raised from the issuance of shares, and incur such expenses by Dec. 31, 2026.

The offering is expected to close on or about June 19, 2025, subject to execution of subscription agreements and customary closing conditions, including receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and NYSE American LLC. Although the offering is not brokered, the company may pay finders' fees of up to 6 per cent from its current working capital for assistance with this financing to persons eligible to receive such fees. All shares issued pursuant to the offering will be subject to a statutory hold period of four months and a day from the closing date in accordance with applicable Canadian securities laws.

About Fury Gold Mines Ltd.

Fury Gold Mines is a well-financed Canadian-focused exploration company positioned in two prolific mining regions across Canada and holds a 11.8-million-common-share position in Dolly Varden Silver Corp. (approximately 14.5 per cent 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 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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