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Financings

Fury Gold reviews 2025, looks ahead to 2026

By The Northwire Desk — AI Analysis Jan 08, 2026 · 12:26 FURY · 0.83 Fury Gold Mines Limited
FURY · Price

Executive Summary

  • Fury Gold Mines Ltd. reviewed its 2025 achievements and outlined 2026 exploration priorities, highlighting significant technical, financial, and strategic milestones.
  • The company completed the acquisition of Quebec Precious Metals (QPM), expanding its Quebec portfolio to over 157,000 hectares, and published an initial Inferred Mineral Resource Estimate for the Sakami project.
  • The Eau Claire gold project demonstrated strong economic metrics in its Preliminary Economic Assessment (PEA), with a base-case after-tax NPV of $554 million and an IRR of 41% at $2,400/oz gold.

Key Details

  • Eau Claire PEA Results:
    • Base-case after-tax NPV (5% discount rate): $554 million.
    • After-tax IRR: 41%.
    • Gold Price Assumption: $2,400/ounce.
    • Mine Life: 11 years.
    • Total Gold Recovered: 834,000 ounces.
    • Life-of-Mine All-In Sustaining Cost (AISC): $1,140/ounce.
    • Initial Capital Expenditure (Capex): $217 million.
  • Sakami Mineral Resource Estimate (MRE):
    • Published in December 2025 following an inaugural drill campaign (2,778 metres drilled in 2025).
    • Initial Inferred Resource: 23.9 million tonnes grading 1.07 g/t gold for 825,000 ounces.
    • All ounces projected to be in-pit within 400 metres of surface.
  • Portfolio Expansion (M&A):
    • Acquired 100% of Quebec Precious Metals (QPM) in April 2025.
    • Added prospective gold and critical minerals assets including Sakami, Elmer East, and Kipawa.
    • Total Quebec exploration portfolio now exceeds 157,000 hectares.
    • Fury is the largest gold-focused explorer in the Eeyou Istchee Territory (James Bay region, Northern Quebec).
  • Drilling Activity:
    • 2025 Total Drilling: Over 18,000 metres across the entire portfolio (approx. 15,200 metres in Quebec).
    • 2026 Eau Claire Outlook: Winter drilling program announced in October 2025 for 10,000 metres.
    • Eau Claire Progress: Approximately 6,600 metres drilled to date; completion anticipated between 12,000 and 13,000 metres by end of February 2026.
    • Focus: Expanding resources along high-grade shoots, connecting resources outside the PEA mineable portion, and identifying growth opportunities.
  • Financing and Capital Structure:
    • Closed an $18.0-million upsized brokered flow-through financing to advance exploration/development at Committee Bay and Eau Claire.
    • Secured a $4.3-million private placement equity investment from Agnico Eagle Mines Ltd.
    • Company holds 11.3 million shares in Dolly Varden Silver Corp. (12.9% of issued shares), significantly enhancing capital resources.
  • 2026 Committee Bay Outlook:
    • Planning finalized for an up to 5,000 metre drill program.
    • Focus: Testing high-grade mineralization at the Three Bluffs deposit and drilling advanced regional targets.

Notable Quotes

  • "We are excited to begin 2026 after completing a strong base of technical work at Committee Bay, Eau Claire and Sakami. This critical work will support us as we advance drilling at Eau Claire, with a goal of derisking the project and moving towards development stage," commented Tim Clark, chief executive officer of Fury Gold Mines.
Read the original news release →

More from Fury Gold Mines Limited

Nov 03, 2026 · 06:59

Fury reports the widest hole at Three Bluffs, intersecting a 0.7–0.9 g/t gold halo.

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Fury confirms Eau Claire continuity with high-grade infill drilling results at a time when the market sits at a 52-week low.

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Fury options its non-core Reservoir asset to Neoterrex while retaining a 2% net smelter return interest in the project.

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Fury’s high-grade infill drilling at Eau Claire confirms the resource without representing a step-change in the deposit’s scale or economics.

Drill Results Aug 19, 2026 · 16:11

Fury Gold expands its Quebec land package with a copper-gold-silver-tungsten option.

M&A / Property Jul 27, 2026 · 06:59

Fury resumes drilling at Eau Claire following the suspension of operations due to wildfires.

Production / Operations