Fury Drills 9.36 g/t Gold Over 3 Metres at the Hinge Target at Eau Claire

VANCOUVER, BC / ACCESSWIRE / November 29, 2021 / Fury Gold Mines Limited (TSX:FURY)(NYSE American:FURY) ("Fury" or the "Company") is pleased to provide results for six core drill holes at the Eau Claire project located in the Eeyou Istchee Territory in the James Bay region of Quebec. The drilling focused on demonstrating the potential to expand the deposit to the west on both the Hinge and Limb target areas (Figure 1). Drill hole 21EC-041 targeted the Hinge zone of the anticline that defines the geometry of the deposit and the interbedded magnesium and iron-rich basaltic units that host the majority of the resource. The drill hole intersected seven zones of mineralization over a 110-metre drill width, including 3.0 metres (m) of 9.36 g/t gold, 3.0m of 3.38 g/t gold and 1.5m of 4.94 g/t gold. The multiple stacked zones of mineralization demonstrate that the deposit is open down plunge to the west and is situated approximately 100m below the defined resource at the deposit (Figure 2). Fury believes that the down plunge extension of the Eau Claire deposit has the potential to significantly expand the current resource.

"This has been a very busy year for Fury, and we are thrilled to share results from multiple summer exploration programs as we get ready for exploration in 2022," commented Tim Clark, CEO of Fury. "Hole 21EC-041 is a great result and certainly gives us confidence that this resource has room to grow. The Hinge is a high priority target, and this intercept opens up the Eau Claire deposit for considerably more exploration to the west.

"Over the next few weeks, we are also looking forward to publishing additional drilling results from both Committee Bay and Snake Lake. This will be followed by news from surface programs intended to help establish drill programs at Percival, Serendipity and the Eleonore South JV, which will all be important as we refine our exploration plans for the coming year."

Hinge Zone Target

The Hinge target located to the west of the defined Eau Claire resource is defined by a 20- to 30-degree plunge of the anticline that defines the geometry of the deposit. The plunging anticline is interpreted to extend approximately one kilometre to the west based on geologic mapping and geophysical data that demonstrates a plunging conductivity anomaly that images the sediments hosted in the core of the fold (Figure 2). To date a total of four drill holes have tested the Hinge geometry of the Eau Claire anticline within the interbedded magnesium and iron rich basaltic units that host the bulk of the resource at the Eau Claire deposit. The results of these four drill holes demonstrates the potential to discover multiple stacked high-grade veins as evidenced by the 3m of 9.36 g/t gold and the previously announced intersection of 1m of 12.81 g/t in drill hole 21EC-032 (see news release dated August 4^th, 2021). Fury's technical team is currently planning the next series of drill holes into the Hinge zone with drill fences across the Hinge zone being planned on 50m to 100m step outs to the west (Figure 2).