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Fury Gold Mines Limited reported a mixed first half of 2026. For the three months ended June 30, 2026, the company recorded a net loss of $14,870 (loss per share $0.08), compared with a loss of $1,996 a year earlier, driven mainly by higher exploration spending and a $6,852 loss on marketable securities. Exploration and evaluation expenses more than doubled to $7,114 in the quarter as drilling and project work accelerated, particularly in Quebec.
For the six months ended June 30, 2026, Fury reported net income of $192 versus a loss of $4,988 in the prior-year period. The turnaround was largely due to a $19,241 gain recognized when its investment in Dolly Varden was converted into shares of Contango Silver & Gold Inc., now classified as marketable securities of $45,918. Operating cash outflow was $14,661 for the half, partly offset by $2,176 of investing inflows.
At June 30, 2026, Fury held $8,708 in cash and a working capital surplus of $56,188, supported by marketable securities and minimal debt-like liabilities. Mineral property interests totaled $49,790, reflecting ongoing investment in the Eau Claire, Sakami, Éléonore South, and Committee Bay projects. Management believes available cash, securities, and flow-through funds are sufficient to support planned exploration at least through the next 12 months, while acknowledging future project advancement may require additional financing.
Fury Gold Mines Limited resumed exploration and drilling activities at its Eau Claire gold project in the Eeyou Istchee Territory of the James Bay region of Northern Quebec after a precautionary suspension caused by a nearby wildfire. All personnel have safely returned, and activities restarted once conditions were confirmed suitable for a safe return to operations, with ongoing monitoring and communication with local authorities.
The company states that the temporary suspension did not have any material impact on its previously disclosed Phase 2 drill program at Eau Claire. Fury is described as a well-financed, Canadian-focused exploration company advancing Eau Claire towards development and holding a 5.8% equity position in Contango Silver and Gold Inc.
Fury Gold Mines Limited reported a precautionary evacuation of all personnel from its Eau Claire camp in the Eeyou Istchee Territory, James Bay region of Northern Quebec, due to a nearby forest fire. The evacuation was executed with local authorities under established emergency protocols, and no injuries were reported.
Exploration and drilling activities at Eau Claire have been temporarily suspended while conditions are monitored with local and provincial fire authorities. The company currently does not expect this suspension to have a material impact on its previously disclosed Phase 2 drill program at Eau Claire and plans to provide further updates once activities resume and any delay can be assessed. Fury is a Canadian-focused exploration company advancing the Eau Claire gold project and holds a 5.8% equity position in Contango Silver and Gold Inc.
Fury Gold Mines Limited reported new drill results from the Phase 2 program at the Eau Claire gold project in the James Bay Region of Northern Quebec and has mobilized a third drill rig to site. Phase 2 is focused on converting inferred mineral resources into higher-confidence categories and expanding the indicated resource.
The best result so far is conversion hole 26EC-115, which intersected 7.01 g/t gold over 21.0 m, including 10.27 g/t gold over 11.0 m, described as the highest-grade intercept of comparable true thickness at Eau Claire to date. Additional holes in Zone 450, including 26EC-104, 26EC-105, 26EC-110 and 26EC-113, returned multiple shorter high-grade intercepts, while hinge-area hole 26EC-111 cut 20.60 g/t gold over 0.85 m.
To date, 23 drill holes totaling about 11,650 m have been completed in Phase 2, with full assay results received for 8 holes totaling 5,064 m and partial results for one additional hole. All three active drills are currently operating in the same sector to advance resource conversion, expansion drilling and follow-up on the high-grade shoot intersected in 26EC-115. Fury is a Canadian-focused exploration company advancing Eau Claire and holds a 5.8% equity position in Contango Silver and Gold Inc.
Fury Gold Mines has started its 2026 drilling program at the Committee Bay gold project in Nunavut, targeting resource growth at the Three Bluffs deposit and nearby Antler prospect. The program includes about 5,000 metres of diamond drilling.
At Three Bluffs, approximately 13 holes are planned along one kilometre of strike to infill and expand the existing mineral resource. Three Bluffs currently hosts an estimated 524,000 ounces of gold in 2.1 million tonnes at 7.85 g/t in the indicated category and 720,000 ounces in 2.9 million tonnes at 7.64 g/t in the inferred category.
Three holes are planned at Antler to step out from and infill around historical high-grade intercepts, with results expected to feed into a future updated mineral resource estimate. Fury states it is fully financed to complete the 2026 exploration programs at Committee Bay and its Eau Claire project in Quebec.
Fury Gold Mines Limited reported the results of its Annual General Meeting held on June 25, 2026. Shareholders representing 75,644,125 common shares, or 39.79% of outstanding shares, were present or represented by proxy.
Shareholders approved fixing the board size at six directors, with 72,290,680 votes for (95.57%) and 3,353,445 against (4.43%). All six director nominees listed in the May 11, 2026 circular were elected, with support ranging from 72.20% to 99.30% of votes cast.
PricewaterhouseCoopers LLP was appointed as auditor with 74,293,940 votes for (98.22%) and 1,350,186 withheld (1.78%). Shareholders also approved renewing the Company’s long-term incentive plan for a three-year period, with 51,695,320 votes for (88.50%) and 6,717,527 against (11.50%).
Fury Gold Mines Limited reported final metallurgical test results from its Ninaaskumuwin lithium discovery on the 100% owned Elmer East project in Northern Quebec. Testing of spodumene-bearing pegmatite suggests the material responds well to conventional processing.
Samples contained up to 42% spodumene, with lithium grades ranging from 0.02% to 3.71% Li₂O. A key result was a potential Direct Shipping Ore concentrate grading 6.024% Li₂O₅, recovering 76.66% of the lithium in 22.97% of the mass through a single Dense Media Separation step, indicating the possibility of a simple flowsheet.
The intercepted pegmatite was described as free of impurities, with spodumene as the only identified lithium-bearing mineral, pointing to potential suitability for battery-grade lithium carbonate and hydroxide production. The Elmer East project covers about 45,700 hectares and benefits from highway access and Quebec government support under its critical minerals exploration program.
Fury Gold Mines Limited has begun pre-feasibility study work for its Eau Claire Gold Project in the Eeyou-Istchee/James Bay region of Quebec. The company has engaged SGS Geological Services and BBA Consultants to lead key technical disciplines including mining, processing, infrastructure and economic evaluation under National Instrument 43-101 standards.
This work follows a preliminary economic assessment issued in 2025 and is described by management as an important step on the road to potential production at Eau Claire. Fury is a Canadian-focused exploration company advancing Eau Claire and holds a 5.8% equity position in Contango Silver and Gold Inc.
Fury Gold Mines Limited reported new drill results from the Eau Claire gold project in Quebec, highlighting both completed Phase 1 drilling and early Phase 2 progress. Phase 1 comprised 21 holes totalling 12,700 metres, with all assays now received.
The strongest intercept came from expansion hole 26EC-103, which returned 7.86 g/t gold over 9.43 metres, confirming continuity within the inferred mineral resource. Hole 26EC-102 intersected 13.83 g/t gold over 1.97 metres, while conversion hole 26EC-107 delivered 3.79 g/t gold over 7.25 metres, supporting potential upgrading of resources.
Phase 2 is a fully funded 15,000–25,000 metre campaign focused on converting inferred resources to indicated and improving grade continuity. Fourteen holes totalling about 7,100 metres have been completed, with assays so far for 720 metres, and drilling scheduled to continue through the summer of 2026.
Fury Gold Mines Limited has started an additional metallurgical testwork program at its 100% held Eau Claire gold project in Quebec to advance the asset toward feasibility. SGS Canada will run a roughly three-month program to better understand ore characteristics and support mill design options.
The work aims to optimize ore processing, improve tailings management, and confirm environmental compliance, helping define a complete process flowsheet and design criteria for a potential processing plant. Fury describes Eau Claire as its core Canadian-focused development project and notes it holds a 5.8% equity position in Contango Silver and Gold Inc.