Fury Gold Mines Limited provided results for the final three 2022 core drill holes at the Eau Claire project located in the Eeyou Istchee Territory in the James Bay region of Quebec. The 2022 drill program successfully expanded the high-grade gold mineralized footprint at the Hinge Target, Gap Zone, and eastern expansion target areas. To date, the eleven holes drilled into the Hinge Target have had a hit rate of nearly 55% above the Eau Claire underground measured and indicated resource grade of 6.3 g/t gold and over 80% above the underground cut-off grade of 2.5 g/t gold.

Collectively, these results have provided a clear focus for deposit expansion moving forward into 2023. Drill hole 22EC-059 was drilled oblique to all other drilling at the Hinge Target (at an angle of 150 degrees) and provides confirmation of the current geological interpretation. The hole intercepted eight zones of gold mineralization across 350 metres (m) drilled width including 1.50m of 22.77 g/t gold, 1.50m of 15.30 g/t gold and 1.50m of 6.46 g/t gold.

The reported intercepts extend the gold mineralization and represent a 100m offset to the west and 150m vertical offset of the defined shallow 850 Zone within the Hinge Target. Notably, the reported intercept of 1.50m of 22.77 g/t gold at a downhole depth of 181.5m, approximately 155m below surface, is one of the shallowest high-grade intercepts to date within the Hinge Target zone. Fury's updated geological interpretation of the controls on mineralization within the Eau Claire resource has led to a focus on the fold geometry at the Hinge Target resulting in an overall increase of approximately 25% to the mineralized footprint.

Drill holes 22EC-059 were designed to drill perpendicular to the apex of the fold hinge to test a series of vertically oriented veins, related to folding, as well as to expand upon shallow 850 Zone mineralization within 150 meters of surface. The Hinge target remains open to the west as well as up dip and down dip. The 2022 eastern expansion drill program was designed to test for continuity between defined resource blocks along the southeastern margin of the Eau Claire deposit where the Company intercepted significant high-grade gold results from limited 2021 drilling of 23.27 g/t gold over 7.09m, 11.56 g/t gold over 6.04m.

All six drill holes completed in 2022 intercepted quartz tourmaline veining with associated alteration and include the following intercepts: 2.50m of 3.91 g/t gold from 22EC-060 and 1.50m of 3.65 g/t gold from 22EC-061. The intercepts extend mineralization 65m and 75m respectively confirming the dip continuity of the defined mineralization along the southeast margin of the Eau Claire deposit. Additionally, the Company is announcing that it has engaged with Native Ads Inc., to execute a comprehensive digital media marketing campaign supporting Fury's ongoing efforts to increase awareness.

This comprehensive advertising program is designed to build brand familiarity, general recognition and raise awareness within online investor content platforms. Native Ads will employ advertising, paid distribution, media buying and content creation to execute this important initiative. Analytical samples for the Drill Program were taken by sawing HQ diameter core into equal halves on site with one half sent to ALS Chemex in Val D'or, Quebec, Canada for preparation and analysis. All samples were assayed using a 50 g nominal weight fire assay with inductively coupled plasma ­ atomic emission spectrometry finish (Au-ICP22) and multi-element four acid digest ICP-AES/ICP-MS method (ME-MS61).

Where Au-ICP22 results were greater than 0.5 ppm Au the assay was repeated with a 50 g nominal weight fire assay with atomic absorption finish (Au-AA24). Samples containing more than 5 ppm by Au-AA24 were re-assayed with 50 g nominal weight fire assay with gravimetric finish (Au-GRA22). QA/QC programs using internal standard samples, field and lab duplicates and blanks indicate good overall accuracy and precision.