Mr. Dev Shetty reports

FURA PROVIDES UPDATE ON RUBY TRANSACTIONS IN MOZAMBIQUE

The agreement between Regius Resources Group Ltd. and Fura Gems Inc. for Fura to acquire the ruby licences/concessions held by Regius has been terminated.

Fura continues to advance toward closing its proposed acquisition from New Energy Minerals Ltd. (formerly Mustang Resources Ltd.) of: (i) 75 per cent of the issued shares of Montepuez Minerals Pty. Ltd., which owns a 70-per-cent interest in mining licence 5030L and an 80-per-cent interest in mining concession 8921C; and (ii) a right to earn a 65-per-cent interest in mining concession 8955C under a joint venture agreement. Please see the company's press release dated Nov. 29, 2018, for further details regarding the terms of this proposed acquisition.

About Fura Gems Inc.

Fura Gems is a gemstone mining and marketing company which is engaged in the mining, exploration and acquisition of gemstone licences. Fura's headquarters is located in Toronto, Canada, and its administrative headquarters is located in the Almas Tower, Dubai.

Fura is engaged in the exploration of resource properties in Colombia and owns a 76-per-cent interest in the Coscuez emerald mine in Boyaca, Colombia. Fura is also involved in the exploration and mining of rubies in Mozambique through its 80-per-cent effective interest in four ruby licences (4392, 3868, 3869 and 6811).

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