Fury Reports Infill Drill Results; Returns High Grade at Eau Claire Including 14.41 g/t over 3.92 Metres
Fury’s high-grade infill drilling at Eau Claire confirms the resource without representing a step-change in the deposit’s scale or economics.
Fury Gold Mines Limited has released the third batch of Phase 2 assay results from its Eau Claire project in Quebec. The drilling program has now reached 35 holes and 15,047 meters drilled, with five holes abandoned. Assays have been received for 22 holes totaling 11,423 meters.
Key new intercepts reported include: - 26EC-125: 14.41 g/t Au over 3.92 m true, and 7.74 g/t Au over 1.96 m - 26EC-120: 5.07 g/t Au over 6.00 m, including 10.20 g/t Au over 1.00 m - 26EC-115: final results adding 2.88 g/t Au over 8.00 m and 4.19 g/t Au over 4.00 m - 26EC-118: 4.49 g/t Au over 2.94 m and 7.74 g/t Au over 1.96 m - 26EC-129: 2.07 g/t Au over 4.94 m and 10.35 g/t Au over 0.99 m - 26EC-127: 9.84 g/t Au over 0.99 m and 4.45 g/t Au over 1.98 m
Management stated that these results confirm continuity for inferred-to-indicated resource conversion ahead of a 2027 pre-feasibility study.
Fury Gold Mines Limited (FURY) has completed infill and resource-definition drilling rather than discovery or step-out exploration. Consequently, the appropriate benchmark for evaluating the results is the existing resource grade, not the performance of previous high-grade intercepts.
An earlier notable hole, 26EC-115, reported 21.0 m at 7.01 g/t Au in July 2026, yielding approximately 147 g·m. The share price stood at approximately C$0.76 prior to that announcement, dipped in response to wildfire news, and is currently trading at C$0.90.
The recent drill holes intersected grades at or above the Eau Claire resource grade and are located within existing inferred blocks, serving as confirmatory data. These results do not materially alter the resource size and are not considered transformative. The project’s economics remain dependent on the progression from the Preliminary Economic Assessment (PEA) to a Preliminary Feasibility Study (PFS) and ultimately to mine development.
Fury Gold Mines Limited is a Canadian gold exploration and development company with no producing mines. Its principal assets include the Eau Claire and Percival projects in Quebec, which hold 1.16 million ounces of measured and indicated resources at 5.64 grams per tonne of gold and 0.723 million ounces of inferred resources at 4.13 grams per tonne of gold. A preliminary economic assessment for these assets indicates a base case after-tax net present value of C$554 million and an internal rate of return of 41% at US$2,400 per ounce of gold.
The company also holds the Sakami project in Quebec, containing 825,000 ounces of inferred resources at 1.07 grams per tonne of gold, and the Committee Bay project in Nunavut, which features 524,000 ounces of indicated resources at 7.85 grams per tonne of gold and 720,000 ounces of inferred resources at 7.64 grams per tonne of gold. Additional interests include the Elmer East lithium discovery and the Kipawa rare earths project.
Prior-period financial data not disclosed in today’s release shows that Fury Gold Mines reported a first quarter 2026 net income of C$15.1 million. This figure was driven by a C$19.2 million gain on the Dolly Varden/Contango share exchange and a C$2.8 million gain on marketable securities. Operating cash flow for the period was negative C$6.0 million. The company reported working capital of C$70.7 million, comprising C$15.3 million in cash and C$54.8 million in marketable securities. No debt was reported, and shares outstanding were approximately 190.1 million at the end of the first quarter 2026.