Mr. Tim Clark reports
FURY TO BUY-OUT HOMESTAKE RIDGE ROYALTY
Fury Gold Mines Ltd. has entered into a royalty purchase agreement for the purchase of a 2-per-cent net smelter return royalty on certain claims at its Homestake Ridge project in British Columbia. The purchase price is $400,000, payable 25 per cent in cash and 75 per cent in shares priced at the five-day volume-weighted average price (VWAP) prior to completion on or before Sept. 20, 2021, but in no event more than 328,367 shares or fewer than 239,000 shares. The shares will be subject to a four-month hold period in Canada. The Toronto Stock Exchange has conditionally approved the listing of these shares.
"The purchase and consolidation of the Homestake Ridge royalty provides for a simplified, cleaner ownership structure of the project as it advances through future stages of discovery," commented Tim Clark, chief executive officer of Fury.
The Homestake Ridge project is located in the prolific Iskut-Stewart-Kisault gold belt in northwestern British Columbia, Canada, and covers approximately 7,500 hectares. The project is host to a high-grade gold, silver, copper and lead resource, which remains open at depth and along strike. The Homestake Ridge project is held 100 per cent by the company, subject to two royalties, with a 2-per-cent net smelter royalty (NSR) applicable to the Crown grants, and a 2-per-cent royalty on 14 mineral claims, which is the subject of this agreement.
About Fury Gold Mines Ltd.
Fury Gold Mines is a Canadian-focused gold exploration company positioned in three prolific mining regions across the country. Led by a management team and board of directors with proven success in financing and exploring mining assets, Fury intends to grow and advance its multimillion-ounce gold platform through potential new discoveries. Fury is committed to upholding the highest industry standards for corporate governance, environmental stewardship, community engagement and sustainable mining.
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