Mr. Dev Shetty reports

FURA PROVIDES UPDATE ON GOING PRIVATE TRANSACTION

Fura Gems Inc. has provided an update on its previously announced going-private transaction. The parties are working diligently to complete the remaining legal formalities in relation to the transaction, which is now expected to close on or about Oct. 28, 2020, subject to the satisfaction or waiver of certain conditions.

The transaction is more fully described in the management information circular, which was mailed to shareholders of record as of Sept. 1, 2020. The circular is available under Fura's profile on SEDAR.

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 owns ruby, emerald and sapphire resource properties in Mozambique, Colombia and Australia, respectively. Fura's headquarters is located in Toronto, Canada, and its administrative headquarters is located in the Burjuman Business Tower, Dubai.

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