Fury Intercepts 11.74 g/t Gold over 6.63 Metres from Infill Drilling at Eau Claire; Commences Phase 2 Drilling

Rhea-AI Summary

Fury (TSX/NYSE American: FURY) released initial Phase 1 drill results from the 13,000m Eau Claire program, with 21 holes completed (~12,700m) and assays received for ~5,550m. Key infill hole 26EC-099 intercepted 11.74 g/t Au over 6.63 m. A fully financed Phase 2 of 15,000–25,000 m has commenced to convert inferred resources and expand indicated categories through spring–summer 2026.

Seven holes returned significant intercepts; Phase 1 aimed to expand high-grade shoots and improve continuity between resource blocks (Gap Zone).

Positive

• High-grade intercept: 11.74 g/t Au over 6.63 m in hole 26EC-099
• Program scale: Phase 2 is fully financed for 15,000–25,000 m of drilling
• Resource continuity: seven holes returned significant intercepts confirming predictability

Negative

• Assays received for only ~5,550 m of ~12,700 m drilled, leaving partial data coverage
• Multiple holes reported no significant intercepts, indicating heterogeneity in targets

News Market Reaction – FURY

+0.15%

3 alerts

+0.15% Session close to close

-12.0% Trough Tracked

$113.69M Market Cap

0.1x Rel. Volume

In the Mar 17 session, FURY gained 0.15%, reflecting a mild positive market reaction. Argus tracked a trough of -12.0% from its starting point during tracking. Our momentum scanner triggered 3 alerts that day, indicating moderate trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement reports encouraging Eau Claire drilling, including 11.74 g/t Au over 6.63 m in hol...

Analysis

This announcement reports encouraging Eau Claire drilling, including 11.74 g/t Au over 6.63 m in hole 26EC-099 and several other high-grade intercepts, and confirms a fully financed 15,000–25,000 m Phase 2 campaign. In recent months, FURY has steadily advanced multiple Québec and Nunavut assets. Investors may watch for remaining Phase 1 assays, Phase 2 results, and future technical reports that clarify how these intercepts influence overall resource size, continuity, and project economics.

Key Figures

Key intercept 26EC-099: 11.74 g/t Au over 6.63 m High-grade intercept: 22.70 g/t Au over 1.0 m Phase 1 program size: 13,000 m drilling +5 more

8 metrics

Key intercept 26EC-099 11.74 g/t Au over 6.63 m Infill drill hole 26EC-099 at Eau Claire

High-grade intercept 22.70 g/t Au over 1.0 m Hole 25EC-088 infill interval

Phase 1 program size 13,000 m drilling Planned Phase 1 exploration drill program at Eau Claire

Holes completed 21 holes (~12,700 m) Phase 1 drilling completed at Eau Claire

Assays received 5,550 m of results Portion of Phase 1 drilling with received assays

Phase 2 program size 15,000–25,000 m Planned fully financed Phase 2 Eau Claire drilling

Significant holes 7 holes Number of Phase 1 holes returning significant results

Down-plunge step 40 m down plunge 26EC-099 position relative to previous drilling

Historical Context

5 past events · Latest: Jan 26 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jan 26	Board appointment	Positive	-4.3%	Added an experienced independent director to support advancing Eau Claire.
Jan 08	Year review & plans	Positive	-1.1%	Reviewed 2025 achievements and outlined 2026 exploration priorities and funding.
Dec 08	Sakami MRE	Positive	-3.0%	Announced initial inferred mineral resource estimate at Sakami in Quebec.
Nov 24	Sakami drilling	Positive	-1.1%	Confirmed continuity and extended near-surface mineralization at Sakami.
Nov 10	Committee Bay drilling	Positive	+2.9%	Reported Committee Bay drilling that extended Three Bluffs and Raven targets.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent positive corporate and exploration updates have often been followed by modest negative price reactions, with only one of the last five news events seeing a positive next-day move.

Recent Company History

Over the last five news events, FURY focused on expanding and de-risking its Québec and Nunavut gold portfolio, including new resource estimates at Sakami, continuity drilling at Sakami and Committee Bay, and a strategic board appointment on Jan 26, 2026. Despite generally constructive operational and corporate developments, four of these releases saw next-day declines between about 1–4%, while only the Committee Bay drilling update on Nov 10, 2025 coincided with a positive 2.91% move. Today’s Eau Claire drilling results and Phase 2 launch follow this exploration-led narrative.

Key Terms

infill, preliminary economic assessment, true thickness, fire assay, +4 more

8 terms

infill technical

"Table 1: Drill Highlights to Date ... 25EC-084 ... 3.58 | Infill"

Infill most often refers to additional work—commonly extra drilling in mining or closer redevelopment in real estate—done to fill gaps between existing data or properties so the picture is clearer and more reliable. For investors, infill matters because it reduces uncertainty about the size, quality or usability of an asset (like a mineral deposit or city lot), which can raise confidence in forecasts, valuation and plans much like adding missing puzzle pieces makes the whole picture easier to trust.

preliminary economic assessment technical

"outside of the preliminary economic assessment identified stopes."

A preliminary economic assessment is an initial analysis that estimates the potential profitability and feasibility of a project or resource, such as a new mineral deposit or development venture. It provides a rough idea of costs, benefits, and risks, helping investors decide whether to pursue more detailed studies. This early evaluation is important because it offers a snapshot of whether the project is worth further investment and development.

true thickness technical

"Drilled Thickness (m) | True Thickness (m) | Au (g/t)"

True thickness is the actual width of a geological layer or mineralized zone measured perpendicular to its planes, not the longer or shorter slice produced when a drill hole cuts it at an angle. For investors, true thickness tells you how much rock or ore is really present in a deposit—like comparing the real thickness of a loaf to the length of a diagonal slice—so it affects volume estimates, grade calculations and the economic value of a resource.

fire assay technical

"50 g nominal weight fire with assay atomic absorption finish (Au-AA24)"

Fire assay is a laboratory process used to accurately measure the amount of precious metals, like gold or silver, in a sample of ore or material. It involves heating the sample intensely to separate the metals from other substances, much like melting and purifying metal to determine its purity. This method is important to investors because it provides precise data on the metal content, helping to assess the value of mining operations or mineral deposits.

atomic absorption technical

"fire with assay atomic absorption finish (Au-AA24)"

A laboratory method that measures how much light free atoms absorb to determine the amount of a specific metal or element in a sample, like checking how much dye is in water by seeing how dark it looks. Investors care because it’s a standard way to test for contaminants, verify raw-material purity, and support regulatory compliance; results can affect product safety, cleanup costs, production quality, and a company’s legal or reputational risk.

ICP-MS technical

"multi-element four acid digest ICP-AES/ICP-MS method (ME-MS61)."

Inductively Coupled Plasma Mass Spectrometry (ICP-MS) is a scientific technique used to detect and measure very small amounts of metals and other elements in a sample. It works like a highly sensitive scanner, helping researchers identify the presence of specific materials with great accuracy. For investors, understanding ICP-MS is important because it highlights advanced methods used in industries such as mining, environmental testing, and manufacturing, influencing the valuation and risks of related companies.

QA/QC technical

"QA/QC programs using internal standard samples and blanks, field and lab duplicates"

QA/QC stands for Quality Assurance and Quality Control, processes used to ensure products or services meet certain standards. Think of it as a way to check that a product is safe and works properly before reaching consumers, similar to how a chef tastes food before serving it. For investors, strong QA/QC practices indicate a company's commitment to delivering reliable, high-quality offerings, reducing risks and building trust.

qualified person regulatory

"is a “qualified person” within the meaning of Canadian mineral projects disclosure"

A qualified person is someone with specialized knowledge, experience, and training in a particular field, allowing them to accurately assess and verify information or work. Their expertise helps ensure that reports, evaluations, or decisions are trustworthy and meet required standards. For investors, a qualified person provides confidence that the information they rely on is credible and properly validated.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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TORONTO, March 17, 2026 (GLOBE NEWSWIRE) -- Fury Gold Mines Limited (TSX and NYSE American: FURY) (“Fury” or the “Company”) announces initial results from the Phase 1 13,000-metre exploration drill program at the Eau Claire Gold project, located in the Eeyou Istchee Territory in the James Bay Region of Northern Quebec.

Phase 1 drilling was focussed on expanding resources along high-grade shoots and adding continuity to the existing resource outside of the preliminary economic assessment identified stopes. A total of 21 holes (approximately 12,700m) has been completed, with results received for only 5,550m. Complete assay results have been received from 11 holes as well as partial results from a 12th hole. Seven holes returned significant results which are highlighted in Table 1 and Figure 1.

The key highlight was infill drill hole 26EC-099, which targeted an inferred portion of the Eau Claire resource and intercepted 11.74 g/t gold over 6.63 metres (m) approximately 40m down plunge from previous drilling. A second hole, 26EC-101, which is a further 40m step down plunge outside of the existing resource envelope has just been completed and results are pending.

“Drilling at Eau Claire continues to reinforce resource continuity, confirming mineralization remains well-developed and predictable within the deposit,” stated Tim Clark, CEO of Fury Gold Mines. “Importantly, the program shows the potential to grow the deposit between resource blocks (the Gap Zone) in shallow previously untested areas, and we look forward to continued drilling to further de-risk and expand Eau Claire as we unlock additional value for shareholders.”

Table 1: Drill Highlights to Date

Hole ID	From	To	Drilled Thickness (m)	True Thickness (m)	Au (g/t)	Purpose
25EC-083	No significant intercept
25EC-084	286.5	288.0	1.5	1.48	3.58	Infill
	299.0	301.0	2.0	1.97	2.44
25EC-085	No significant intercept
25EC-086	No significant intercept
25EC-087	383.5	386.5	3.0	2.79	2.21	Expansion
25EC-088	139.0	140.0	1.0	0.97	22.70	Infill
	362.5	365.5	3.0	2.94	4.25
25EC-089	198.0	198.5	0.5	0.49	13.10	Expansion
25EC-090	293.5	295.0	1.5	1.48	2.74	Expansion
	398.5	399.5	1.0	0.99	8.78
25EC-091	No significant intercept
25EC-092	No significant intercept
25EC-093	549.5	550.0	0.5	0.50	24.80	Infill
26EC-099*	397.5	402.0	4.5	4.25	2.59	Infill
	411.5	412.5	1.0	0.95	7.20
	431.0	432.0	1.0	0.95	6.47
	438.0	445.0	7.0	6.63	11.74
	448.0	449.0	1.0	0.95	7.15
	453.5	455.0	1.5	1.42	4.67
	458.0	459.0	1.0	0.95	5.90
Intercepts were calculated using Au grade*thickness no less than 2g/t*m with grade no less than 1g/t, maximum consecutive dilution 2m. True thickness was used for intercept calculation * Partial results received

A Phase 2 Eau Claire drill campaign, focussed on converting inferred portions of the resource and extensions to the indicated resource category, is now underway. The fully financed Phase 2 program is anticipated to comprise of an additional 15,000 – 25,000m of drilling and is expected to continue through the spring and summer of 2026.

Figure 1: Long section of the Eau Claire Deposit looking north showing the locations of the completed and current drill holes in relation to the block model.

Figure 2: Eau Claire – Section 25EC-086-088

Figure 3: Eau Claire – Section 26EC-099

Figure 4: Eau Claire – Section Gap Zone

Sampling and Assaying Disclosure

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 with assay atomic absorption finish (Au-AA24) and multi-element four acid digest ICP-AES/ICP-MS method (ME-MS61). Where Au-AA24 results were greater than 10 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 and blanks, field and lab duplicates, and lab standards and blanks indicate good overall accuracy and precision.

Valérie Doyon, P.Geo, Senior Project Geologist at Fury, is a “qualified person” within the meaning of Canadian mineral projects disclosure standards instrument 43-101 and has reviewed and approved the technical disclosures in this press release.

About Fury Gold Mines Limited

Fury Gold Mines Limited is a well-financed Canadian-focused exploration company positioned in two prolific mining regions across Canada and holds a 11.3 million common share position in Dolly Varden Silver Corp (approximately 12.3% of issued shares). Led by a management team and board of directors with proven success in financing and advancing exploration assets, Fury intends to grow its multi-million-ounce gold platform through rigorous project evaluation and exploration excellence. Fury is committed to upholding the highest industry standards for corporate governance, environmental stewardship, community engagement and sustainable mining. 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:	(844) 601-0841
Email:	info@furygoldmines.com
Website:	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, 2024 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.

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/aa6d27aa-fd12-49de-939d-4f14d98cce49

https://www.globenewswire.com/NewsRoom/AttachmentNg/77b2c718-6a9c-4f9e-bcdf-2dfed20eb20e

https://www.globenewswire.com/NewsRoom/AttachmentNg/63194b38-2b4a-4790-935a-c635f0dc8a72

https://www.globenewswire.com/NewsRoom/AttachmentNg/e369e1dc-8303-4dd5-ac84-2f88c16362c1

FAQ

What did Fury (FURY) report for the Eau Claire drill hole 26EC-099 on March 17, 2026?

Hole 26EC-099 intercepted 11.74 g/t Au over 6.63 m, a high-grade infill result near existing resource. According to the company, this intercept lies about 40 m down plunge from previous drilling and supports continuity within the deposit.

How much drilling did Fury complete in Phase 1 at Eau Claire and how much assay data is available?

Phase 1 completed ~12,700 m across 21 holes, with assays received for ~5,550 m. According to the company, assays to date cover a subset of holes with additional results pending to better define continuity.

What is Fury's Phase 2 drilling plan for Eau Claire and its timeline for 2026?

Phase 2 is a fully financed program of 15,000–25,000 m focused on converting inferred resources to indicated. According to the company, drilling is underway and expected to continue through spring and summer 2026.

How do the Phase 1 results affect Eau Claire resource continuity and the Gap Zone for FURY?

Phase 1 results reinforced resource continuity and identified growth potential in the Gap Zone between blocks. According to the company, the drilling shows mineralization is predictable and may expand deposit continuity in shallow, previously untested areas.

How many drill holes returned significant results in Fury's initial Eau Claire assays?

Seven holes returned significant intercepts among the reported assays, providing multiple high-grade hits. According to the company, these results include both infill and expansion intercepts that support further targeting and resource work.

Are the Eau Claire assay methods and QA/QC procedures disclosed for FURY's drilling?

Yes; samples were half-core submitted to ALS with 50 g fire assay and ICP-MS multi-element analysis plus gravimetric re‑assays above 10 ppm. According to the company, QA/QC included standards, blanks, and duplicates indicating good accuracy and precision.