TORONTO, June  09, 2026  (GLOBE NEWSWIRE) -- Fury Gold Mines Limited (NYSE:FURY) (&#34;Fury&#34; or the &#34;Company&#34;) is pleased to announce it has engaged a team of technical consultants to lead the next phase of development for

FURY

Fury Engages Leading Firms to Advance Eau Claire Pre-Feasibility Study Work

Fury Funds PFS for Eau Claire, signaling potential production pathway

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  <section data-block="information">
    <h3>Information</h3>
    <p>TORONTO, June  09, 2026  (GLOBE NEWSWIRE) -- Fury Gold Mines Limited (NYSE:FURY) (&amp;#34;Fury&amp;#34; or the &amp;#34;Company&amp;#34;) is pleased to announce it has engaged a team of technical consultants to lead the next phase of development for</p>
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  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Fury Gold Mines announced the engagement of SGS Geological Services and BBA Consultants to oversee the pre-feasibility study for the Eau Claire Gold Project in northern Quebec, advancing from the 2025 PEA. Conducted under NI 43-101 standards, the PFS aims to clarify economics and production potential, setting the stage for a production decision and potential re-rating if results prove favorable.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Fury hires SGS and BBA to lead Eau Claire PFS.</li><li>PFS begins under NI 43-101, building on 2025 PEA.</li><li>CEO calls it milestone toward production and clearer project potential.</li><li>Project location: James Bay, Quebec; Fury owns 5.8% of Contango Silver &amp; Gold.</li><li>SGS and BBA bring global expertise in geology, engineering and design.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Fury Gold Mines Limited (FURY)</strong>: Direct issuer; PFS milestone could unlock value; stock sensitive to project development progress.</li><li><strong>SGS Geological Services (N/A)</strong>: Global testing/inspection leader; enhances credibility of resource modeling and PFS quality.</li><li><strong>BBA Consultants (N/A)</strong>: Engineering/advisory firm with 45+ years; strengthens project execution plan.</li><li><strong>Contango Silver and Gold Inc. (N/A)</strong>: Fury holds 5.8% equity; potential upside tied to Eau Claire value through Contango stake.</li></ul>
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  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category: Corporate Developments. The news centers on strategic project development activity and external consulting engagement, signaling progress toward potential production and framework for value realization.</p>
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  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>PFS kickoff may spark short-term positive sentiment and volatility.</li><li>Valuation hinges on PFS economics and gold price sensitivity.</li><li>Fury&#039;s 5.8% stake in Contango Silver adds optionality exposure.</li><li>Engagement of SGS/BBA boosts project credibility and execution visibility.</li></ul>
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  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Date of release: June 9, 2026.</li><li>Ticker: Fury Gold Mines Limited, FURY, NYSE.</li><li>Project: Eau Claire Gold Project, James Bay, Quebec, Canada.</li><li>PFS to be completed under NI 43-101; continues 2025 PEA.</li><li>Consultants: SGS Geological Services and BBA Consultants.</li><li>Fury ownership: 5.8% equity in Contango Silver and Gold Inc.</li></ul>
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  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Positive milestone; favorable PFS economics could re-rate Fury within 12–24 months.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p align="justify">TORONTO, June  09, 2026  (GLOBE NEWSWIRE) -- <strong>Fury Gold Mines Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FURY">FURY</a>) </strong>("<strong>Fury</strong>" or the "<strong>Company</strong>") is pleased to announce it has engaged a team of technical consultants to lead the next phase of development for its Eau Claire Gold Project ("Eau Claire" the "Project), located in the Eeyou-Istchee/James Bay region of northern Quebec. This engagement marks the start of the Company's pre-feasibility study ("PFS") work to be completed in accordance with National Instrument 43-101 standards. The PFS is the continuation of the preliminary economic assessment study issued in 2025 (see news release dated September 2, 2025).</p>  <p align="justify">The Company has retained the services of SGS Geological Services ("SGS"), recognized for its global expertise in geological modeling and resource estimation and BBA Consultants ("BBA"), a top Canadian engineering firm, to lead all technical study disciplines, including mining, processing, infrastructure, and economic evaluation.</p>  <p align="justify"><strong><em>"The start of the PFS process marks a significant milestone on the road to production for the Eau Claire project," </em></strong>said Tim Clark, CEO of Fury. <strong><em>"We are formally engaged and coordinating with SGS and BBA, both leading geological and engineering firms, with the goal of advancing development plans, providing investors with a clearer understanding of the projects potential." </em></strong></p>  <p align="justify"><strong>About SGS</strong></p>  <p align="justify">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.</p>  <p align="justify"><strong>About BBA</strong></p>  <p align="justify">BBA is a trusted partner in the energy and natural resources sector, where they have operated for more than 45 years. With over 1,800 professionals in 25+ offices across Canada, the U.S. and Latin America, the firm delivers engineering, strategic advisory, environmental and field services. Recognized for its high-level expertise and collaborative approach, BBA combines technical excellence with strong field presence to rapidly mobilize the right experts wherever they are needed.</p>  <p align="justify"><strong>About Fury Gold Mines Limited</strong></p>  <p align="justify">Fury Gold Mines Limited is a well-financed Canadian-focused exploration company advancing the Eau Claire gold project towards development, which holds a 5.8% equity position in Contango Silver and Gold Inc. 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.</p>  <p align="justify">For more information on Fury Gold Mines, visit <a href="https://www.globenewswire.com/Tracker?data=pRc2EuS0V_HkdG_Go_zGnTRZx_E-YCjxIVRY7WbWbBMp9ymueIRwfqzRzlCUIUA4IhjjEs_yEFb8uoezCQcL5vOrkYv6rbXFfSOy-or-bq4=" rel="nofollow" target="_blank">www.furygoldmines.com</a>.</p> <table style="border-collapse: collapse; width:100%; border-collapse:collapse ;"><tr><td colspan="2">For further information on Fury Gold Mines Limited, please contact:<br></br></td></tr><tr><td colspan="2">Salisha Ilyas, Investor Relations<br></br></td></tr><tr><td style="max-width:8%; width:8%; min-width:8%;">Tel:</td><td style="max-width:92%; width:92%; min-width:92%;">(844) 601-0841</td></tr><tr><td>Email:</td><td><a href="mailto:info@furygoldmines.com" rel="nofollow" target="_blank">info@furygoldmines.com</a></td></tr><tr><td>Website:</td><td><a href="http://www.furygoldmines.com" rel="nofollow" target="_blank">www.furygoldmines.com</a></td></tr><tr><td> </td><td> </td></tr></table> <p align="justify"><strong>Forward-Looking Statements and Additional Cautionary Language</strong></p>  <p align="justify">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.</p>  <p align="justify">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.</p>  <p align="justify">Readers should refer to the risks discussed in the Company's Annual Information Form and MD&amp;A for the year ended December 31, 2025 and subsequent continuous disclosure filings with the Canadian Securities Administrators available at <a href="http://www.sedarplus.ca" title="www.sedarplus.ca">www.sedarplus.ca</a> and the Company's Annual Report available at <a href="http://www.sec.gov" title="www.sec.gov">www.sec.gov</a>. Readers should not place heavy reliance on forward-looking information, which is inherently uncertain.</p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTczMzc0NyM3NjUyMjY2IzIyNjM3MzI="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/ZTllODFhNjgtZTgzNy00YTk3LWE5MzctM2Y1MmJjMmUyYmNiLTEyNzUyODItMjAyNi0wNi0wOS1lbg==/tiny/Fury-Gold-Mines-Limited.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/320f6b0b-e5de-4987-a6ce-490d0e7c4b82"><img src="https://ml.globenewswire.com/media/320f6b0b-e5de-4987-a6ce-490d0e7c4b82/small/fury-gold-mines-logo-png.png" border="0" width="150" height="55" alt="Primary Logo"></img></a></p>

Fury Gold Mines announced the engagement of SGS Geological Services and BBA Consultants to oversee the pre-feasibility study for the Eau Claire Gold Project in northern Quebec, advancing from the 2025 PEA. Conducted under NI 43-101 standards, the PFS aims to clarify economics and production potential, setting the stage for a production decision and potential re-rating if results prove favorable.

Fury Engages Leading Firms to Advance Eau Claire Pre-Feasibility Study Work

AI Summary

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Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

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