Fury Gold Mines Limited announced results from its first exploration drill hole (B1 (20EC-006)) targeting a 660-metre (m) extension from the known resource at the Eau Claire deposit located in the Eeyou Istchee Territory in the James Bay region of Quebec. The drill hole intercepted 3m of 2.59 g/t gold within a broader interval of 8m of 1.21 g/t gold at a drill depth of 643m to 651m. Importantly, the gold mineralization encountered was associated with quartz-tourmaline veining and amphibole alteration, which is consistent with mineralization within the defined resource at the Eau Claire deposit. The gold mineralization encountered in drill hole B1 is believed to represent a significant extension of the Eau Claire deposit, 660m down plunge, based on stratigraphic position and the style of mineralization and alteration encountered. The interval of 3m of 2.59 g/t gold is above Eau Claire's cut-off grade1, which was used in the 2018 resource and Preliminary Economic Assessment2 and demonstrates that the down plunge extension to the deposit has the potential to substantially expand the resource. Fury plans to move a second drill to the exploration program to test target areas A and C in addition to continuing drilling at target area B. This will allow the company to aggressively pursue high-grade mineralization within the target areas. The exploration drilling program has moved from proof of concept to the process of identifying and characterizing high-grade plunging zones of mineralization. Targets A, B and C were defined, in part due to periodicity of high-grade shoots observed within the Eau Claire deposit, occurring at approximately 500m intervals. Target A is situated 100m to 300m down plunge from the limit of the current resource, which is defined by a subset of 200,000 ounces of 12 g/t gold (Figure 4). This target has the potential to duplicate the high-grade nature observed in the eastern portion of the defined resource and is supported by historical drilling 200m vertically above of 1m of 12.6 g/t, 2.5m of 4.4 g/t, and 2.5m of 3.9g/t gold respectively in an area interpreted to be above the overall plunge of the deposit. Target B is situated 500m to 700m down plunge from the limit of the current resource. The intersection of drill hole B1 is interpreted to have intersected the upper margin of the plunge of the Eau Claire deposit (Figures 1 and 3); a subsequent test (B2), 200m vertically beneath the B1 hole is currently underway and is approaching target depth of 800m to 900m. Drill hole B2 will intersect the middle of the target area where the potential for higher grade mineralization is expected based on the distribution of high grade within the Eau Claire deposit. Target C is situated 800m to 1,000m down plunge from the limit of the current resource. The planned drill array represents a 700m to 900m down dip extension from the historical drilling above the target area. This target is believed to be at the intersection of the Eau Claire and Snake Lake structures, both of which are characterized by high-grade mineralization.