Mr. Dev Shetty reports

FURA DRAWS DOWN US$4.1 MILLION FROM LONG TERM LOAN FACILITY

Fura Gems Inc. has drawn down an additional $4.1-million (U.S.) from its loan facility previously announced on March 10, 2020. As of the date of this release, no further amounts remain available for drawdown by the company under the terms of the grid promissory note issued to the lender in the maximum aggregate principal amount of $28.6-million (U.S.). The funds advanced under the note are initially unsecured, will bear interest at a rate of 10 per cent per annum and have a maturity date of Aug. 31, 2021. The principal amount of the loan, as well as accrued interest, will be payable on the maturity date. Please see the company's press releases dated March 10, 2020, and April 23, 2020, for more information about the note and the terms thereof and the company's second drawdown, respectively, which are available under the company's SEDAR profile.

The proceeds of the third advance are expected to be used by Fura for the advancement of its Coscuez emerald project in Colombia, its ruby projects in Mozambique and its sapphire projects in Australia, and for general corporate purposes.

About Fura Gems Inc.

Fura is a gemstone mining and marketing company which is engaged in the mining, exploration and acquisition of gemstone licences.

We seek Safe Harbor.