Mr. Tim Clark reports

FURY REPORTS 7.86 G/T GOLD OVER 9.43 METRES IN INFILL DRILLING AT THE EAU CLAIRE GOLD PROJECT, QUEBEC

Fury Gold Mines Ltd. has released the final batch of assay results from its phase 1, 13,000-metre drill program as well as the initial assay results from its continuing phase 2, 15,000-to-25,000-metre drill program at the Eau Claire gold project, located in the Eeyou Istchee territory in the James Bay region of Northern Quebec.

Phase 1 drilling focused on expanding mineral resources along high-grade shoots and improving continuity within the existing resource, particularly outside the stopes identified in the preliminary economic assessment (PEA). A total of 21 drill holes, comprising 12,700 metres, were completed, and all assay results have now been received. The last two holes of the phase 1 program (26EC-102 and 26EC-103), which total 1,330 metres, are discussed below in Table 1.

Phase 2 drilling is currently continuing and aimed at converting inferred mineral resources into higher-confidence categories and expanding the indicated mineral resource. To date, 14 drill holes totalling approximately 7,100 metres have been completed, with assay results currently available for 720 metres (holes 26EC-107 and 26EC-109), which are also highlighted in Table 1.

"Drilling at Eau Claire continues to reinforce resource continuity, confirming mineralization remains well developed and predictable within the deposit," stated Tim Clark, chief executive officer of Fury Gold Mines. "We look forward to further derisking the project with additional drilling being carried out to convert resources into higher-confidence categories and expanding the Eau Claire mineralization, which should unlock additional value for shareholders."

The most significant result from this batch of drilling is returned from expansion drill hole 26EC-103, which tested approximately 45 metres downplunge of a historic intercept within the inferred portion of the Eau Claire mineral resource. The hole intersected 7.86 grams per tonne gold over 9.43 metres, confirming the continuity of mineralization within the modelled zone.

In addition, drill hole 26EC-102, which also targeted mineralization within an inferred portion of the Eau Claire mineral resource, returned an intercept of 13.83 grams per tonne gold over 1.97 metres.

Finally, drill hole 26EC-107 was designed to test the continuity of mineralization between two areas currently classified as inferred resources and support potential upgrading of the resource classification. The hole intersected 3.79 grams per tonne gold over 7.25 metres, located approximately 50 metres up-plunge from drill holes 26EC-099 (see news release dated March 17, 2026) and 26EC-096 (see news release dated April 23, 2026) and demonstrate continuity of the mineralized zone between these intercepts.

The phase 2 drill program at Eau Claire is advancing in accordance with design, with 14 diamond drill holes completed totalling approximately 7,100 metres. The objective of the program is to systematically infill and upgrade portions of the current inferred mineral resource category to the indicated category as well as refine the geological model and improve grade continuity within key mineralized domains.

The fully financed phase 2 campaign will continue through the summer of 2026, with continuing assay results anticipated to support resource conversion and future economic evaluation of the Eau Claire deposit.

Sampling and assaying disclosure

Analytical 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, Que., Canada, for preparation and analysis. All samples were assayed using a 50-gram-nominal-weight fire assay with atomic absorption finish (Au-AA24) and multielement four-acid digest ICP-AES/ICP-MS method (ME-MS61). Where results were greater than 10 parts per million by Au-AA24, they were reassayed with 50-gram-nominal-weight fire assay with gravimetric finish (Au-GRA22). Quality assurance/quality control programs using internal standard samples and blanks, field and lab duplicates, and lab standards and blanks indicate good overall accuracy and precision.

Valerie Doyon, PGeo, senior project geologist at Fury, is a qualified person within the meaning of Canadian mineral projects disclosure standards 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 advancing the Eau Claire gold project toward development, which holds a 5.8-per-cent equity position in Contango Silver and Gold Inc. 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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