Mr. Tim Clark reports

FURY ANNOUNCES CLOSING OF FINANCING

Further to its previous announcement (see news release dated June 5, 2025), Fury Gold Mines Ltd. has closed a private placement of 3,999,701 common shares of the company that qualify as flow-through shares within the meaning of Subsection 66(15) of the Income Tax Act (Canada) at a price of 77 cents per flow-through share for total gross proceeds of $3,079,800.

In connection with the offering, Agnico Eagle Mines Ltd. exercised its existing participation right and acquired 440,000 common shares of the company at a price of 67 cents per common share for gross proceeds of $294,800. The common shares acquired in the private placement do not qualify as flow-through shares. The private placement, together with the offering, resulted in the company raising aggregate gross proceeds of $3,374,600. The proceeds from the private placement will be used to advance the company's Committee Bay exploration program.

"We are excited by the interest in the offering from two large institutional investors and one of our directors," commented Tim Clark, chief executive officer of Fury. "The proceeds from this financing will help us pursue exploration opportunities at our Quebec and Nunavut projects, driving the potential for discovery across our mineral exploration portfolio."

One director of the company purchased 52,000 flow-through shares. The company is relying on the exemption from the formal valuation and minority shareholder approval requirements pursuant to sections 5.5(a) and 5.7(1)(a) of Multilateral Instrument 61-101, Protection of Minority Shareholders in Related Party Transactions, as neither the fair market value of any securities issued nor the consideration paid exceeds $2.5-million or 25 per cent of the company's market capitalization, as applicable.

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 an 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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