Fury Gold Mines Makes Major Progress at Eau Claire – New Drilling Results & Environmental Studies

Key Concepts

• Phase 1 Exploration Drilling: A 13,000-meter drilling program aimed at resource expansion and continuity.
• Infill Drilling: A technique used to increase the density of data points within a mineral deposit to improve resource confidence.
• Inferred Mineral Resource: A part of a mineral resource for which quantity and grade are estimated on the basis of limited geological evidence and sampling.
• Baseline Environmental Studies: Initial research conducted to document the existing state of the environment before project development.
• Preliminary Economic Assessment (PEA): A study that provides an initial view of the potential economic viability of a mineral project.

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Exploration Drilling Results at Eau Claire

Fury Gold Mines has released the second set of results from its 13,000-meter Phase 1 exploration drilling program at the Eau Claire gold project. The primary objectives of this phase were to expand the resource along high-grade ore bodies and to improve the continuity of the existing resource in areas outside those identified in the project's Preliminary Economic Assessment.

• Drilling Scope: A total of 21 drill holes were completed, totaling approximately 12,700 meters. Results have been processed and released for 11,440 meters of this drilling.
• Key Intersections:
  • Hole 26EC101: This infill hole targeted an inferred portion of the resource and intersected 12.5 grams per tonne (g/t) of gold over 7 meters. This intersection occurred 45 meters below the dip direction of a previous hole (26EC099), confirming strong continuity and significant potential for resource growth outside the current block model.
  • Hole 26EC097: Also targeting an inferred portion of the resource, this hole returned 3.92 g/t gold over 6.92 meters, providing evidence that supports the conversion of inferred resources into higher-confidence categories.

Environmental and Technical Progress

In addition to exploration success, Fury Gold Mines has initiated baseline environmental studies at the Eau Claire site, marking a transition toward production readiness.

• Partnership: The company has engaged WSP (referred to as Vaza in the transcript), a firm specializing in environmental services, engineering, and forestry.
• Study Scope: The study is scheduled to span two years and involves comprehensive field inventories of both natural and anthropogenic (human-influenced) environmental components.
• Strategic Purpose: These studies are essential for establishing the baseline conditions required for a future Environmental Impact Assessment (EIA). Management intends to use these findings to guide development strategies, ensuring that future operations minimize environmental impact while maximizing the economic potential of the Eau Claire project.

Synthesis and Conclusion

The recent updates from Fury Gold Mines demonstrate a dual-track strategy: aggressive resource expansion through targeted infill drilling and proactive environmental planning. The high-grade results from holes 26EC101 and 26EC097 validate the geological model and suggest that the Eau Claire resource has significant upside potential. By simultaneously launching baseline environmental studies, the company is systematically de-risking the project and moving closer to production readiness.

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Disclaimer: This summary is for informational purposes. The stock discussed is part of the SSC Mining Special Situation Certificate, and the presenters may hold positions in the company.