Fury Gold Mines Stock

Fury Gold Mines Limited engages in the acquisition and exploration of resource projects in Canada.

The company is a Canadian-focused high-grade gold exploration company strategically positioned in two prolific mining regions: the Eeyou Istchee James Bay Region of Quebec and the Kitikmeot Region in Nunavut. The company has a portfolio of mineral properties, including the Eau Claire property located in the Eeyou Istchee James Bay Region of Northern Quebec (the Eau Claire Project), the Committee Bay gold project located in the Kitikmeot Region of Nunavut (the Committee Bay Project), and the Eleonore South Joint Venture (ESJV), of which the company is the operator.

Eau Claire Project

The company owns a 100%-interest in the Eau Claire Project, host to the Eau Claire gold deposit, one of five known gold deposits in the Eeyou Istchee James Bay region of Quebec. The largest of these, Newmont’s Eleonore mine, is located 57 km NNW of the Eau Claire Project. This property consists of map-designated claims, (CDC’s) totaling approximately 233 square kilometers. These claims are held 100% by the company and are in good standing.

Committee Bay Project

The Committee Bay Project is located in the eastern part of the Kitikmeot Region of Nunavut. The Committee Bay Project consists of 57 Crown Leases and 190 mineral claims in six non-contiguous blocks totaling approximately 297,273 hectares.

Acquisitions

In April 2022, the company purchased a 25% share interest in Universal Mineral Services Ltd (UMS).

In September 2022, the company and its joint venture partner Newmont, through their respective subsidiaries, completed the acquisition of the remaining approximately 23.77% participating interest of Azimut Exploration Inc. in the ESJV, on a pro-rata basis. As a result of the transaction, the 100% ESJV participating interests are held 50.022% by the company and 49.978% by Newmont, with Fury Gold remaining operator under an amended and restated joint operating agreement.

Disposition

In February 2022, the company announced the completion of the sale of the Homestake Ridge project to Dolly Varden Silver Corporation (Dolly Varden).

Partial Sale of Dolly Varden Investment

On October 3, 2022, the company announced that it had entered into a non-brokered sale agreement to sell Dolly Varden, approximately 7.4% of the outstanding common shares of Dolly Varden. As of December 31, 2022, the company held a 23.5% interest in Dolly Varden.

History

The company was incorporated under the Business Corporations Act (British Columbia) in 2008. It was formerly known as Georgetown Capital Corp. and changed its name to Auryn Resources Inc. in 2013 and to Fury Gold Mines Limited in 2020.