Fura Gems Inc. provide an update in respect of the option agreement that was entered into by the Company and Richland Resources Ltd. ('Richland') on June 26, 2019, as amended on July 19, 2019 and October 31, 2019. To allow the parties to complete the remaining legal formalities in relation to the completion of the transactions contemplated in the Amended Option Agreement, Fura agreed with Richland to extend the longstop date from November 15, 2019 to November 30, 2019. The Amended Option Agreement contemplates the acquisition by Fura of 100% interests in two mining permits (EPM 25973 and EPM 25978) and three mining licences (ML 70419, ML 70447 and ML 70451) for a sapphire mining project in Queensland, Australia (the 'Acquisition').