Mr. Tim Clark reports

FURY CONFIRMS CONTINUITY AND EXTENDS NEAR SURFACE GOLD MINERALIZATION BY 185 METRES AT THE SAKAMI GOLD PROJECT IN QUEBEC

Fury Gold Mines Ltd. has released the assay results from the last four holes of its inaugural drill campaign at the Sakami gold project, located in the Eeyou Istchee territory in the James Bay region of Northern Quebec. The 2025 diamond drill program successfully completed 3,685 metres in seven holes, of which six drill holes totalling 2,965 m targeted extensions and gaps at La Pointe Extension and one drill hole (720 m) targeted an induced polarization chargeability anomaly at Juliette.

Drill hole 25SK-005, the southwestern most drill hole completed by Fury, intercepted 26.0 m of 0.71 gram per tonne gold, including 6.5 m of 1.76 grams per tonne gold 185 m to the southwest of drill hole 25SK-003, which intercepted 59 m of 1.59 g/t gold (see news release dated Sept. 4, 2025).

Highlights from the final four 2025 holes and key findings at Sakami include:

• 26.0 m of 0.71 g/t gold, including 6.5 m of 1.76 g/t gold, in drill hole 25SK-005;
• 22.2 m of 0.83 g/t gold, including 2.9 m of 1.71 g/t gold and one m of 8.62 g/t gold, in drill hole 25SK-007 (Table 1);
• Near-surface gold mineralization footprint has been significantly increased with limited drilling, proving overall continuity and predictability -- key for an eventual mineral resource estimate;
• Mineralization occurs along a prolific regional-scale suture zone between two geologic subprovinces with numerous undrilled gold occurrences along 23.5 kilometres of strike, which lies entirely within the Sakami property;
• Gold occurs withing two broad subparallel structures, each of which has a significantly higher-grade gold core that remains open to depth;
• Regional soil sampling identified six structurally controlled gold-in-soil anomalies along an east-west secondary fault splay.

Note: Due to the unknown orientation of the zones, downhole thickness was used.

Fury's drilling confirms that mineralization at La Pointe Extension is open at depth and along strike to the west. Additionally, the drilling infilled gaps and improved continuity within the previously identified gold mineralization. All of the reported intercepts are between 50 m and 350 m of surface. The 2025 diamond drilling program utilized oriented core and preliminary interpretations indicate that the drilling was predominantly orthogonal to the gold-mineralized structure.

"This year's drill program at Sakami has delivered valuable geological insight and set a good foundation for evaluating future follow-up work, including the potential estimation of a mineral resource," commented Tim Clark, chief executive officer of Fury.

About the Sakami project

The 100-per-cent-owned Sakami project covers approximately 14,250 hectares, or 142.5 square kilometres, located 30 kilometres to the east of the paved Billy Diamond Highway. The project straddles the prospective structural corridor, marking the contact between the Opinaca and La Grande geological subprovinces, where gold mineralization has been identified over a distance of more than 23 kilometres. Gold mineralization is located at the base of a sulphide-rich horizon within a zone of intense pervasive silicification located along a regional shear zone, marking the contact between the two geological subprovinces.

A total of seven diamond drill holes totalling approximately 3,685 m were completed during the 2025 campaign. Six holes targeted the down-plunge and along-strike extensions of previously identified gold mineralization across 650 m of strike length at the La Pointe Extension target. Historical drilling has intercepted gold mineralization across widths of up to 75 m and to a depth of up to 500 m below surface. All 2025 drill holes completed at La Pointe Extension intercepted zones of intense silicification with sulphide mineralization containing broad zones of gold mineralization in two subparallel zones with higher-grade cores.

Drill Hole 25SK-006 targeted the previously undrilled Juliette target, located one kilometre south of La Pointe Extension. Juliette has a similar induced polarization (IP) geophysical chargeability signature to the La Pointe and La Pointe Extension targets and represents an excellent opportunity to discover additional gold mineralization along the highly prospective 23-kilometre-long gold-bearing structure. Hole 25SK-006 intercepted a zone of intense silicification with sulphide mineralization, which correlates to the IP chargeability anomaly. Though drill hole 25SK-006 did not intercept significant gold mineralization, the alteration and sulphide mineralization intercepted paired with the IP chargeability anomaly still represent an intriguing target. Fury's technical team is reviewing the oriented core and geochemical (ICP) data from this hole to determine any potential vectors to gold mineralization.

"Sakami has returned consistent near-surface gold mineralization across broad widths. Fury is currently working on an updated geological model incorporating the new drill data into the existing database, with a goal of advancing it to the resource stage in the near future," commented Bryan Atkinson, PGeo, senior vice-president, exploration, of Fury.

2025 regional soil sampling program

During the 2025 field campaign, a soil grid was completed 10 kilometres to the west of La Pointe extension along a regional fault splay off of the main La Grande-Opinaca suture zone. The soil grid resulted in the collection of 237 samples identifying six structurally controlled gold anomalies for potential follow-up work. The gold-in-soil anomalies occur within a regional-scale fold nose associated with mafic volcanic rocks and iron formation. Further field work is being contemplated to potentially advance the soil anomalies to a drill-ready stage.

Sampling and assaying disclosure

2025 Fury drilling

Analytical samples for the drill program were taken by sawing NQ-diameter core into equal halves on site, with one-half sent to ALS Chemex in Sudbury, Ont., Canada, for preparation and analysis. All samples were assayed using a 50-gram-nominal-weight fire assay with inductively coupled plasma -- atomic emission spectrometry finish (Au-ICP22) and multielement four-acid digest ICP-AES/ICP-MS method (ME-MS61). Where Au-ICP22 results were greater than 0.5 part per million, the assay was repeated with a 50-gram-nominal-weight fire assay with atomic absorption finish (Au-AA24). Samples containing more than 10 parts per million by Au-AA24 were reassayed with 50-gram-nominal-weight fire assay with gravimetric finish (Au-GRA22). Quality assurance/quality control programs using internal standard samples, field and lab duplicates, and blanks indicate good overall accuracy and precision.

Historical Sakami diamond drilling

Analytical samples were taken by manually splitting NQ-diameter core into equal halves on site, with one-half being sent to ALS Chemex in Val d'Or, Que., for preparation and analysis. All samples were assayed using a 30-gram-nominal-weight fire assay with atomic absorption finish (Au-AA24). QA/QC programs using internal standard samples, field and lab duplicates, and blanks indicate good overall accuracy and precision. Fury has completed a review of the historical Sakami drill database and found no significant errors. Reported intervals were calculated using gold grade-thickness no less than 2.0 gram-metres per tonne with grade no less than 1.0 gram per tonne (maximum consecutive dilution: two metres). Due to the unknown orientation of the zones' downhole thickness was used.

2025 Fury soil sampling

Soil samples were collected from the B-horizon within a predefined grid with a spacing of 50 metres along 200-metre spaced lines. Samples were screened using 180-micrometre screen analyzed for gold and multielement using 50-gram (or 25 grams where is not enough material) nominal weight trace level method by aqua regia extraction and ICP-MS finish method (AuME-TL44 or AuME-TL44) on a minus-180-micrometre fraction. QA/QC programs using internal standard samples, field and lab duplicates, reassays, and blanks indicate good accuracy and precision in a large majority of standards assayed.

Valerie Doyon, PGeo, senior project geologist at Fury, is a qualified person within the meaning of Canadian mineral projects disclosure standards instrument National 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 positioned in two prolific mining regions across Canada and holds an 11.3-million-common-share position in Dolly Varden Silver Corp. (12.3 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.

We seek Safe Harbor.