FURY GOLD MINES LTD

Fury reported 7.0 g/t gold over 21.0 metres at Eau Claire and mobilised a third drill rig. The headline says the company believes no other intercept of comparable true thickness has returned as high a grade at Eau Claire; that is the company's own claim.

drilling result

Fury started its 2026 drilling at Committee Bay in Nunavut, aimed at resource growth at three (headline cut off, probably the three targets). The 2024 season there was sampling only, with three targets declared drill-ready. This appears to return drilling to the belt (inference), but the text provided does not confirm the targets or metres.

drilling progress report

Fury announced metallurgical results for the Ninaaskumuwin lithium discovery, pointing to a potential direct-shipping concentrate of 6.0% lithium oxide and 77% of something (the headline is cut off, probably recovery). This builds on the July 2025 test results. It is test work, not a resource estimate.

resource reserve update

Fury announced an initial mineral resource estimate for Sakami, following the drill results of August and September. The tonnes, grade and ounces are not in the text provided.

resource reserve update

Fury announced an upsized C$18 million brokered financing, with no distribution to US newswire services. It is larger than the C$11.0 million raise of April 2022. Price, share count and closing are not in the text provided, so dilution cannot be stated.

capital raising announcement

Fury published a preliminary economic assessment for Eau Claire with a base-case after-tax NPV (5%) of $554 million and after-tax IRR of 41%. It is the first economic study in this record since the April 2020 Homestake Ridge study, a project later sold. A preliminary study is an early-stage estimate. Currency and key assumptions are not in the text provided.

resource reserve update

Fury reported a drill intercept of 32.35 metres at 1.16% lithium oxide at what it calls the Ninaaskumuwin discovery. This is probably the lithium found in surface samples in October 2024 (inference, since the headline does not name the property). It is a lithium hit on a company that has been a gold explorer.

drilling result

Fury announced it has completed the acquisition of QPM, concluding the deal announced on 26 February. Terms and the assets acquired are not in the text provided. Later headlines mention Sakami and Kipawa, which are probably QPM assets (inference).

business combination

Fury announced it will acquire Quebec Precious Metals Corporation (QPM). The provided text shows only the headline, so price, share terms and assets are not stated here. This is the first acquisition since the 2020 Eastmain deal that built the Quebec business.

business combination

Closed a C$5,000,800 brokered flow-through placement of 5,320,000 shares at C$0.94, led by Haywood with BMO, H.C. Wainwright and Echelon. The price is a third below the C$1.44 flow-through raise of March 2023.

capital raising announcement

Fury updated the Eau Claire resource and added a maiden Percival estimate, giving 1.16Moz Au measured and indicated (up 307koz, 36%) and 723koz inferred (up 223koz, 44.6%). The measured and indicated gain came from the Hinge Target, Gap Zone and East Extensions; most of the inferred gain was Percival's 211koz.

resource reserve update

Closed the purchase of Newmont's Eleonore South interest and its Sirios shares, which represent 10.9% of Sirios and trigger an early warning report. The joint venture that came with the 2020 Eastmain acquisition is now wholly owned.

joint venture update

Agreed to buy Newmont's 49.978% of Eleonore South for C$3 million, plus Newmont's 30,392,372 Sirios Resources shares for C$1.3 million, taking Fury to 100% of the project. Eighteen months after buying Azimut's minority for C$1.2 million, Fury has bought out its major-company partner as well.

joint venture update

Final results from the 12,000-metre 2023 Hinge programme: 17.62 g/t gold over 3.5 metres including 29.80 g/t over 2 metres, within 135 metres of surface and open both upward and to the west, plus 8.5 metres of 3.35 g/t and 3.5 metres of 5.49 g/t. Near-surface high grade matters more than depth for a project of this size.

drilling result

Fourth batch from the 2023 Hinge drilling: 31.77 g/t gold over 3.5 metres from 23EC-077, 65.30 g/t over 0.5 metres and 14.25 g/t over 1 metre from 23EC-074, and broader intervals of 2.56 g/t over 7.5 metres and 3.41 g/t over 6.5 metres.

drilling result

A 70-metre step-out at Percival Main, hole 23KP-015, cut 279 g/t gold over 1.5 metres along with 5 metres of 2.68 g/t and 7.5 metres of 2.31 g/t. The three holes testing the westerly continuation of the December 2022 intercept of 13.5 metres at 8.05 g/t were far weaker - 22.5 metres of 0.52 g/t, 19.5 metres of 0.66 g/t - so the high grade did not carry west as hoped.

drilling result

Stopped all work at Eau Claire and evacuated crews after Quebec's Minister of Natural Resources ordered every mining exploration activity in the territory to halt because of wildfires. An outside interruption to the drill season, not a geological or funding problem.

drilling progress report

Closed a C$8,750,160 bought-deal flow-through placement of 6,076,500 shares at C$1.44, underwritten by a syndicate led by Haywood with Beacon, BMO and H.C. Wainwright. At C$1.44 this is nearly double the C$0.80 of April 2022, and the flow-through structure means the money must be spent on Canadian exploration.

capital raising announcement

Final three holes of 2022 at the Hinge target, including 22.77 g/t gold over 1.5 metres. Across the eleven Hinge holes drilled so far the company puts the hit rate at nearly 55% above the underground measured and indicated grade of 6.3 g/t gold and over 80% above the 2.5 g/t cut-off - a hit rate stated by the company, and the clearest measure yet of how well the target is working.

drilling result

Eight holes at Percival, 14 kilometres east of Eau Claire, included an 85-metre step-out with 13.5 metres of 8.05 g/t gold (including 3 metres of 25.8 g/t) and a 150-metre step-out with 7.5 metres of 4.38 g/t. The high-grade core plunges steeply west and remains open in all directions.

drilling result

Three holes into the Gap Zone between the main 450 Zone and the Hinge target: hole 22EC-058 cut three zones over 42.5 metres including 1 metre of 45.00 g/t gold and 1 metre of 5.55 g/t, extending mineralisation about 150 metres west and 315 metres down dip of the resource. The gap between the two productive areas is closing.

drilling result

Two more Hinge holes pushed mineralisation a further 125 metres west. Hole 22EC-055 cut eight zones across 290 metres of drill width including 4 metres of 5.75 g/t gold, 1 metre of 9.81 g/t and 3 metres of 1.93 g/t.

drilling result

Completed the sale of 17 million Dolly Varden shares for C$6.8 million, taking Fury from 76,504,590 shares (33%) to 59,504,590 (26%). Fury keeps two board seats under its investor rights agreement.

asset acquisition disposition

Agreed to sell 17 million Dolly Varden shares, about 7.4% of that company, at C$0.40 each to an institutional investor, cutting Fury's stake from 33% to about 26%. The proceeds were to fund exploration at Eau Claire and Éléonore South in Quebec and general working capital.

asset acquisition disposition

Fury reported seven Eau Claire holes, three of them at the Hinge target, where hole 22EC-048 returned four high-grade zones (1 m of 20.6 g/t, 1 m of 14.19 g/t, 3.5 m of 5.86 g/t, 3.5 m of 4.79 g/t). Fury said the Hinge drilling showed a potential 330 m, or 20%, increase in strike length.

drilling result

Closed the C$11.0 million placement on 13.75 million shares at C$0.80 to the two investors.

capital raising announcement

Agreed a C$11.0 million placement of 13.75 million shares at C$0.80 with just two buyers, a Canadian corporate investor and a US institution, with no warrants attached. The price is above last October's C$0.75, and a no-warrant deal to two named buyers is a better sale than the retail unit placements that preceded it.

capital raising announcement

The Homestake Ridge sale closed, Dolly Varden taking 100% of subsidiary Homestake Resource Corporation and Hecla investing C$5.3 million alongside. Fury has swapped an asset with an economic study and 590,000 gold-equivalent ounces of production potential for cash and a one-third stake in a neighbour - a strategic-review decision, not a geological one.

asset acquisition disposition

Dolly Varden shareholders approved the C$50 million Homestake Ridge purchase with 98.8% in favour, and separately approved Fury becoming a control person of Dolly Varden - the consequence of taking 76.5 million shares rather than cash.

business combination

Eight holes at Snake Lake, a kilometre east of the Eau Claire resource, returned 1.5 metres of 20.70 g/t gold, 2.50 metres of 5.16 g/t and 1.5 metres of 7.14 g/t, taking the shallow mineralised footprint there past 950 metres of strike.

drilling result

Agreed to sell Homestake Ridge to neighbouring Dolly Varden Silver for C$50 million, paid as C$5 million cash and 76,504,590 Dolly Varden shares. That would leave Fury with about 36.9% of Dolly Varden, board nominees and a one-year hold on the shares.

asset acquisition disposition

Hole 21TB-152, drilled 120 metres down dip of the Three Bluffs resource at Committee Bay, hit three high-grade zones over 30 metres including 10 metres of 13.93 g/t gold, 3 metres of 18.67 g/t and 1 metre of 23.2 g/t - the company calls them the best results the project has seen in five years, and they came from a meta-sediment unit that was not expected there. Four holes at Raven were still pending.

drilling result

Hole 21EC-041 cut seven mineralised zones over 110 metres of drill width at the Hinge target, including 3 metres of 9.36 g/t gold, 3 metres of 3.38 g/t and 1.5 metres of 4.94 g/t, about 100 metres below the defined resource. The western end of Eau Claire is now open down plunge as well as the eastern.

drilling result

Arranged a C$5.025 million placement of 6.7 million units at C$0.75, each with a full warrant at C$1.20 for three years, callable if the shares hold C$1.50 for 20 days. The price is less than half the C$1.60 paid in February 2020, before the merger.

capital raising announcement

New chief executive Tim Clark, replacing Mike Timmins, set out a narrower plan: concentrate on Eau Claire and Committee Bay, put at least 70% of spending into exploration and drilling, run a strategic review of non-core assets, and cut overheads by going virtual in Toronto and sharing costs with sister companies. The strategic review is what leads to the Homestake Ridge sale three months later.

drilling progress report

First holes into the previously untested Hinge target at the western edge of Eau Claire returned 1 metre of 12.81 g/t gold and 8 metres of 1.18 g/t gold, in the same iron-rich basalt and quartz-tourmaline veining that hosts the resource. All three holes hit stacked mineralised zones.

drilling result

Started 5,000 metres at Committee Bay across a 270,000-hectare position, aimed at the Raven vein prospect - where historical holes returned 2.8 metres of 31.1 g/t gold and 5.49 metres of 12.6 g/t gold - and at ground below the Three Bluffs resource.

drilling spud

Hole 21EC-022 cut 23.27 g/t gold over 7.09 metres on the southeast margin of the resource, which the company says is the fifth best intercept by grade and width of more than 900 holes ever drilled at Eau Claire. Drilling now turns to the 220-metre gap between the resource and the Target A panel.

drilling result

Four of five holes into the Snake Lake structure a kilometre east of the resource returned 0.5 metres of 94.1 g/t gold, extending high-grade mineralisation 840 metres down dip, and 2 metres of 7.51 g/t gold from a 150-metre step-out. A new mineralised horizon between Eau Claire and Snake Lake also gave 0.5 metres of 19.6 g/t and 5 metres of 2.85 g/t gold. Very high grades over very short widths.

drilling result

Step-outs of 50 to 100 metres on the eastern edge of the resource returned 3 metres of 8.87 g/t gold and 1 metre of 59.3 g/t gold in hole 21EC-013.

drilling result

Three more step-out holes on the same structure that gave January's 2.59 g/t intercept returned 1.0 metre of 15.3 g/t gold and 1.5 metres of 8.8 g/t gold, extending the deposit footprint 600 metres east. Narrow but high grade, and a quarter of the way through the programme the deposit is already demonstrably longer than it was bought as.

drilling result

First assays from the 25,000-metre resource-expansion and infill drilling at Eau Claire: 6.04 metres of 11.56 g/t gold and 2.51 metres of 8.87 g/t gold, both from outside the defined resource in the lower eastern part of the deposit.

drilling result

The first exploration hole, testing a 660-metre step-out from the Eau Claire resource, hit 3 metres of 2.59 g/t gold within 8 metres of 1.21 g/t at about 645 metres depth. Modest grade, but in the same quartz-tourmaline veining and amphibole alteration that hosts the deposit, which is what makes it evidence the system continues rather than a stray intercept.

drilling result

Started the 50,000-metre drill programme at Eau Claire within a month of the company's formation, testing the down-plunge extension, new targets along the deposit trend and infill at the southeast margin.

drilling progress report

Received the Quebec forestry permit for the first 22 drill pads at Eau Claire, ten days after the merger closed, clearing the way for a fully funded 50,000-metre programme starting in the first week of November. The contrast with Peru is the point: permits there had been pending for eight months and never arrived before the assets were spun out.

drilling progress report

The reorganisation closed: Auryn spun its Peruvian assets into Sombrero Resources and Tier One Metals, distributed their shares to its holders, acquired Eastmain and became Fury Gold Mines, releasing the escrowed C$23 million. The Peruvian ground - Sombrero, Curibaya, Ccello, Milpoc, Macha Machay - leaves the company without Auryn ever having drilled a hole on it; the only Sombrero core it ever assayed was drilled by someone else in 2013. What remains is Canadian: Eau Claire and Eleonore South in Quebec, Committee Bay in Nunavut, Homestake Ridge in British Columbia.

business combination

Both meetings approved the arrangements, with over 99% of votes cast in favour and turnout of 63.97% at Auryn and 40.03% at Eastmain. Only the court approvals remained.

business combination

Closed the bought deal at C$23 million on 7,750,000 subscription receipts, slightly above the C$22.5 million announced. The proceeds sit in escrow until the reorganisation completes, at which point the receipts become Fury Gold shares.

capital raising announcement

Arranged a C$22.5 million bought-deal placement of 7.5 million subscription receipts, which convert to shares only when the Eastmain deal closes. Completing it is a stated condition of that deal, so the financing is the gate the whole reorganisation runs through.

capital raising announcement

Agreed to split the company in two and buy another: Auryn will spin its Peruvian projects into two new companies - Sombrero, and Curibaya with Huilacollo - then acquire Eastmain Resources and rename itself Fury Gold Mines. Auryn holders get 0.7 of a Fury share plus one share in each spin-out per Auryn share; Eastmain holders get 0.117 of a Fury share each, a C$121 million offer worth about C$0.42 an Eastmain share after adjusting for the spin-out value, a 137% premium. Fury emerges with about 110 million shares, 69% held by former Auryn holders and 31% by Eastmain's, holding Committee Bay, Homestake Ridge, Eau Claire and the Eleonore South joint venture, led by former Agnico Eagle executive Mike Timmins.

business combination

First economic study on Homestake Ridge in British Columbia: after-tax net present value of US$108 million and a 23.6% return at US$1,350 gold, on US$88 million of pre-production capital, a 13-year life at 900 tonnes a day producing 590,040 gold-equivalent ounces at all-in sustaining costs of US$670 an ounce. The accompanying resource update - 736,000 tonnes indicated at 7.02 g/t gold and 5.5 million tonnes inferred at 4.58 g/t - carries higher grades on fewer tonnes than the 2017 estimate, with total metal roughly unchanged. Four-fifths of the ounces are still inferred.

resource reserve update

A second allotment of the same placement closed on 3,062,500 shares at C$1.60 for C$4.9 million with no commissions, taking the February total to C$15 million on 9,375,000 shares. The company said it was expecting drill permits for two Peruvian projects that year.

capital raising announcement

Received the DIA environmental permit from Peru's Ministry of Energy and Mines for Sombrero, covering 1,031 hectares and allowing up to 33 holes from 23 platforms at the Ccascabamba Sombrero Main target. It is not yet a licence to drill: the Inicio de Actividades authorisation, which includes a formal community consultation with Huanca Sancos, was only filed the week before.

drilling progress report

Closed the C$10.1 million placement at C$1.60 on 6,312,500 shares, insiders taking 271,875, and completed the bridge loan amendment - the C$3 million principal plus C$123,334 of accrued interest now convertible into up to 1,952,084 shares at C$1.60. The bridge loan that began as a working-capital borrowing five months earlier ends as dilution.

capital raising announcement

Arranged a C$10 million placement of about 6.3 million shares at C$1.60 and simultaneously agreed to convert the September bridge loan: the lender may turn the drawn C$3 million into shares at C$1.60, the company can force conversion if the stock holds C$2.50 for five days, and the interest rate drops to 5%. The debt is being turned into equity rather than repaid.

capital raising announcement

Further Curibaya rock samples returned up to 7,990 g/t silver, 17.65 g/t gold and 6.97% copper, extending the high-grade zone 1.5 kilometres west of the October results. Three over-limit samples re-assayed at 1,630, 1,855 and 3,110 g/t silver.

drilling result

First rock sampling at Curibaya's Sambalay and Salvador concessions returned more than 20 samples above 200 g/t silver, several over 1,500 g/t and gold up to 7.67 g/t, across a 1.5 by 3 kilometre alteration system. Surface samples in a belt that hosts Cerro Verde, Cuajone, Toquepala and Quellaveco - proximity is not a deposit, but it explains why the market paid attention.

drilling result

Closed a bridge loan facility of up to C$6 million, of which the first C$3 million tranche was drawn for general working capital; the second tranche needs both sides to agree. The first borrowing in the record, and it is funding overheads rather than a project - three months after paying C$3.00 a share for flow-through money.

debt financing

Started the roughly 3,000-metre Committee Bay drill programme on targets chosen by the machine-learning exercise, the first test of whether that approach finds anything. No results release from this programme is in the cached record; the quarterly filed four months later describes 2,700 metres drilled and 'a new gold-bearing hydrothermal system' without quoting a single intercept.

drilling spud

Assays from the eight historical Fierrazo holes returned copper-gold in every hole, including 116 metres of 0.42% copper and 0.24 g/t gold, 90.4 metres of 0.48% copper and 0.05 g/t gold, and 51 metres of 0.43% copper and 0.16 g/t gold. This is the first real evidence that the 232-metre surface intercept continues at depth, obtained by re-assaying core someone else had drilled for iron.

drilling result

First trench at Fierrazo returned 184 metres of 0.57% copper-equivalent, including 20 metres of 1.50% copper and 0.04 g/t gold, 24 metres of 0.70% copper and 0.09 g/t gold, and 20 metres of 0.32% copper with 0.99 g/t gold. These are surface channel samples across skarn, not drill intercepts, but the width is what makes the target credible.

drilling result