Fury Advances Metallurgical Testwork Program at the Eau Claire Gold Project in Quebec
Rhea-AI Summary
Fury (TSX, NYSE American:FURY) has started additional metallurgical testwork to advance its 100%-owned Eau Claire gold project in Quebec towards feasibility.
SGS Canada will run a three-month program to optimize ore processing, support tailings management, confirm environmental compliance, and refine the process flowsheet for development planning.
AI-generated analysis. Not financial advice.
Positive
- Three-month metallurgical testwork program initiated to support Eau Claire feasibility
- Engagement of SGS Canada for comprehensive ore processing and flowsheet optimization
- Program aims to maximize gold recovery through gravity, flotation, and leaching assessment
- Testwork to provide data for mass and water balances and equipment sizing
Negative
- None.
News Market Reaction – FURY
On the day this news was published, FURY declined 3.04%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
FURY was up 1.27% pre-news while peers were mixed: USGO, ATLX, LGO down and NVA, GRO up. Momentum scan shows XPL down and NVA up, underscoring stock-specific rather than broad sector action.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| May 12 | Leadership appointment | Positive | +3.7% | New Senior Director for environment and permits to guide Eau Claire permitting. |
| Apr 28 | Environmental studies | Neutral | -1.8% | Launch of two-year environmental baseline study to support future mine permitting. |
| Apr 23 | Drill results | Positive | -3.1% | High-grade 12.50 g/t Au over 7.02 m intercept outside current block model. |
| Apr 07 | Leadership appointment | Positive | -1.2% | VP Project Development hired to lead Eau Claire toward feasibility and operations. |
| Mar 17 | Drill results | Positive | +0.1% | Phase 1 drilling returns 11.74 g/t Au over 6.63 m and starts Phase 2 program. |
Recent Eau Claire–focused updates often draw modest moves, with some positive operational news met by negative price reactions, indicating occasional divergence between project progress and short-term trading.
Over the last few months, FURY has steadily advanced the Eau Claire project through drilling, environmental baseline work, and key leadership hires for project development and permitting. Notable drill results on Mar 17 and Apr 23 highlighted high-grade intercepts, while appointments on Apr 7 and May 12 strengthened the development and environmental teams. Price reactions have been mixed, with both gains and pullbacks following generally constructive news, suggesting that execution updates alone have not consistently driven upside.
Market Pulse Summary
This announcement advances the Eau Claire project toward feasibility by launching a three‑month metallurgical testwork program to refine ore processing, tailings management, and environmental compliance. It builds on prior drilling, environmental baseline work, and project leadership appointments, all focused on de‑risking a 100%-owned asset. Investors may watch for resulting data on recoveries, flowsheet design, and permitting readiness as key indicators of future development potential.
Key Terms
metallurgical testwork technical
pre feasibility technical
comminution technical
flotation technical
leaching technical
rheology technical
paste backfill technical
AI-generated analysis. Not financial advice.
TORONTO, May 19, 2026 (GLOBE NEWSWIRE) -- Fury Gold Mines Limited (TSX and NYSE American: FURY) (“Fury” or the “Company”) is pleased to announce it has commenced additional metallurgical testwork, to advance the Company’s
Fury has engaged SGS Canada Inc. (SGS) to conduct a comprehensive metallurgical testwork program in support of Eau Claire feasibility work following on previous testwork referred to in the Project’s Preliminary Economic Assessment (PEA) (see news release dated September 2, 2025). The program will support feasibility and development planning for the Project, located in the Eeyou-Istchee/James Bay region of Quebec.
The program, which will have an approximate duration of three months, is being carried out to better understand the characteristics of the ore, which will allow Fury the option to build a mill or have the ore toll milled. Testwork will complement the initial metallurgical program completed for the PEA, with the objective of demonstrating repeatability of performance and providing missing information that is required at the pre feasibility level. The program is expected to provide the data required to:
- Optimize ore processing: Determine comminution parameters (including grinding work index), evaluate grind size, and assess beneficiation flowsheets (gravity, flotation, and leaching) to maximize gold recovery.
- Support tailings management: Characterize tailings with respect to environmental performance, solid-liquid separation, rheology, and paste backfill suitability.
- Confirm environmental compliance: Conduct detailed environmental testing to support adherence to applicable regulatory requirements.
Results will also provide a strong foundation for developing a complete process flowsheet supported by detailed design criteria, enabling completion of mass and water balances as well as equipment sizing required for process plant layout and design.
“This metallurgical program will play an important role in our feasibility work, as we continue to advance the Eau Claire project towards a pathway to production. By focusing on optimizing ore processing and confirming a robust process flowsheet, we continue to enhance project economics and demonstrate the strong value opportunity for investors,” commented Tim Clark, CEO of Fury.
About SGS
SGS is the world’s leading Testing, Inspection and Certification company. SGS operates a network of over 2,500 laboratories and business facilities across 115 countries, supported by a team of over 100,000 dedicated professionals. SGS’ extensive services help to minimize risk, improve decision making and stakeholder engagement throughout the entire mining value chain includes commercial and on-site analytical solutions, metallurgy and consulting, process design and engineering, trade support and sustainability services.
Mario Corchesne, P.Eng. the Company’s VP Project Development, is the Qualified Person who has approved the contents of this news release.
About Fury Gold Mines Limited
Fury Gold Mines Limited is a well-financed Canadian-focused exploration company advancing the Eau Claire gold project towards development, which holds a
For more information on Fury Gold Mines, visit www.furygoldmines.com.
For further information on Fury Gold Mines Limited, please contact:
| Salisha Ilyas, Investor Relations | |
| Tel: Email: Website: | (844) 601-0841 info@furygoldmines.com www.furygoldmines.com |
Forward-Looking Statements and Additional Cautionary Language
This news release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of applicable securities laws, which statements relate to the future exploration operations of the Company and may include other statements that are not historical facts. Specific forward-looking statements contained in this news release includes information relating to the Company’s ongoing exploration program at the Eau Claire project.
Although the Company believes that the assumptions and expectations reflected in those forward-looking statements were reasonable at the time such statements were made, there can be no certainty that such assumptions and expectations will prove to be materially correct. Mineral exploration is a high-risk enterprise.
Readers should refer to the risks discussed in the Company’s Annual Information Form and MD&A for the year ended December 31, 2025 and subsequent continuous disclosure filings with the Canadian Securities Administrators available at www.sedarplus.ca and the Company’s Annual Report available at www.sec.gov. Readers should not place heavy reliance on forward-looking information, which is inherently uncertain.
