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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, March 02, 2023 (GLOBE NEWSWIRE) — Fury Gold Mines Restricted (TSX: FURY, NYSE American: FURY) (“Fury” or the “Firm”) is happy to announce that, in reference to its beforehand introduced purchased deal non-public placement financing (the “Providing”), it has entered into an amended settlement with Haywood Securities Inc., on behalf of itself and a syndicate of underwriters (collectively, the “Underwriters”) to extend the scale of the Providing to six,076,500 widespread shares of the Firm that qualify as “flow-through shares” as outlined below subsection 66(15) of the Earnings Tax Act (Canada) and part 359.1 of the Taxation Act (Québec) (the “FT Shares”) at a worth of C$1.44 per FT Share (the “Situation Value”) to be bought on a charitable flow-through foundation, representing complete gross proceeds to the Firm of C$8,750,160.

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As well as, the Firm has agreed to grant to the Underwriters an over-allotment choice (the “Over-Allotment Choice”) exercisable, in complete or partly, on the sole discretion of the Underwriter, to buy as much as a further C$1,249,840 value of FT Shares (representing the steadiness accessible below the LIFE Exemption, as outlined under) on the Situation Value for a interval of as much as 48 hours previous to closing of the Providing.

The FT Shares will probably be provided to purchasers pursuant to the listed issuer financing exemption (“LIFE Exemption”) below Half 5A of NI 45-106 in the entire provinces of Canada, together with Québec, and subsequently won’t be topic to resale restrictions pursuant to relevant Canadian securities legal guidelines.

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There’s an amended providing doc associated to the Providing that may be accessed below the Firm’s profile on SEDAR at www.sedar.com and on the Firm’s web site at www.furygoldmines.com. Potential traders ought to learn this providing doc earlier than investing determination.

The gross proceeds of the Providing will probably be utilized by the Company to incur eligible “Canadian exploration bills” that qualify as “flow-through mining expenditures” as such phrases are outlined within the Earnings Tax Act (Canada), and with respect to Québec resident subscribers will even qualify for inclusion within the “exploration base referring to sure Québec exploration bills” and within the “exploration base referring to sure Québec floor mining bills or oil and fuel exploration bills” throughout the that means of the Taxation Act (Québec) (collectively, the “Qualifying Expenditures”) associated to the Company’s initiatives in Québec on or earlier than December 31, 2024. All Qualifying Expenditures will probably be renounced in favour of the subscribers of the FT Shares efficient December 31, 2023. The exploration expenditures to be incurred will embrace expenditures in reference to the exploration of the Firm’s Eau Claire and Éléonore South Joint Enterprise initiatives, as detailed within the providing doc.

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The Providing is scheduled to shut on or about March 23, 2023, topic to customary closing situations, together with receipt of all essential approvals together with the approval of the Toronto Inventory Alternate (“TSX”) and the NYSE American. The Firm has agreed to pay the Underwriters a money fee of as much as 6% of the gross proceeds raised below the Providing.

The securities provided within the Providing haven’t been, and won’t be, registered below the U.S. Securities Act or any U.S. state securities legal guidelines, and will not be provided or bought in the US or to, or for the account or good thing about, United States individuals absent registration or any relevant exemption from the registration necessities of the U.S. Securities Act and relevant U.S. state securities legal guidelines. This information launch shall not represent a proposal to promote or the solicitation of a proposal to purchase nor shall there be any sale of the securities in any jurisdiction by which such provide, solicitation or sale can be illegal.

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About Fury Gold Mines Restricted
Fury Gold Mines Restricted is a Canadian-focused exploration firm positioned in two prolific mining areas throughout the nation and holds a 59.5 million widespread share place in Dolly Varden Silver Corp. (23.5%). Led by a administration staff and board of administrators with confirmed success in financing and advancing exploration property, Fury intends to develop its multi-million-ounce gold platform by rigorous mission analysis and exploration excellence. Fury is dedicated to upholding the very best business requirements for company governance, environmental stewardship, neighborhood engagement and sustainable mining. For extra info on Fury Gold Mines, go to www.furygoldmines.com.

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Neither the TSX nor its Laws Providers Supplier (as that time period is outlined within the insurance policies of the TSX) accepts accountability for the adequacy or accuracy of this information launch.

For additional info on Fury Gold Mines Restricted, please contact:
Margaux Villalpando, Investor Relations
Tel: (844) 601-0841
Electronic mail: data@furygoldmines.com
Web site: www.furygoldmines.com

Ahead-Trying Data
This press launch incorporates “forward-looking info” throughout the that means of relevant Canadian securities legal guidelines. Any statements that categorical or contain discussions with respect to predictions, expectations, beliefs, plans, projections, targets, assumptions or future occasions or efficiency (typically, however not all the time, recognized by phrases or phrases corresponding to “believes”, “anticipates”, “expects”, “is predicted”, “scheduled”, “estimates”, “pending”, “intends”, “plans”, “forecasts”, “targets”, or “hopes”, or variations of such phrases and phrases or statements that sure actions, occasions or outcomes “could”, “might”, “would”, “will”, “ought to” “may”, “will probably be taken”, or “happen” and related expressions) will not be statements of historic reality and could also be forward-looking statements.

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Ahead-looking info herein contains, however just isn’t restricted to, statements that deal with actions, occasions or developments that Fury expects or anticipates will or could happen sooner or later together with the cut-off date of the Providing, proposed use of proceeds of the Providing and the tax therapy of the FT Shares. Though Fury has tried to establish essential elements that might trigger precise actions, occasions or outcomes to vary materially from these described in forward-looking info together with the speculative nature of mineral exploration and growth, fluctuating commodity costs, the long run tax therapy of the FT Shares, aggressive dangers and the provision of financing, as described in additional element in our current securities filings accessible at www.sedar.com. There can also be different elements that trigger actions, occasions or outcomes to not be as anticipated, estimated or supposed. There might be no assurance that such info will show to be correct, and precise outcomes and future occasions might differ materially from these anticipated in such info. Accordingly, readers shouldn’t place undue reliance on forward-looking info. Fury doesn’t undertake to replace any forward-looking info besides in accordance with relevant securities legal guidelines.