Fury Gold Mines Limited · TSX:FURY
Fury Gold Mines — Investor Presentation (January 2026)
34 slides from Fury Gold Mines's investor presentation, Jan 21, 2026
Slide 1: Exploring for High-Grade Gold in Canada
EXPLORING FOR HIGH-GRADE GOLD IN CANADA January 2026 TSX | NYSE-A: FURY
Slide 2: Cautionary Notes
Cautionary Notes This corporate presentation is intended to provide readers with an overview of Fury Gold Mines Limited (the “Company”). The Company has made reasonable efforts to ensure that the information contained in this presentation is current as of September 4, 2025, however, it is not a pros
Slide 3: Diversified Gold Portfolio in Quebec and Nunavut
Diversified Gold Portfolio in Quebec and Nunavut Committee Bay Éléonore South Nunavut , MRE ’23 Quebec Resource stage (Gold) Exploration stage (Gold) Ind²: 524K oz at 7.85g/t Au Inf²: 720K oz at 7.64 g/t Au Eau Claire Quebec, MRE ’24 Resource stage (Gold) Sakami M&I¹: 1.16M oz at 5.64 g/t Au Quebec,
Slide 4: An Advanced Gold Explorer in Premier Canadian Jurisdictions
An Advanced Gold Explorer in Premier Canadian Jurisdictions Canadian assets in low-risk jurisdictions ▪ Eau Claire: M&I¹: 1.16M oz at 5.64 g/t Au / Inf¹: 723K oz at 4.13 g/t Au: PEA: C$554 After Tax NPV5% and 41% After Tax IRR ▪ Sakami: Inferred: 825,000 oz at 1.07 g/t Au3 ▪ Committee Bay: Ind²: 524
Slide 5: Experienced and Balanced Management Team
Experienced and Balanced Management Team Leadership Team TIM CLARK PHIL VAN STADEN BRYAN ATKINSON VALERIE DOYON MARGAUX VILLALPANDO CEO & Director CFO SVP, Exploration Senior Project Geologist Manager Investor Relations (Quebec focused) Board of Directors BRIAN CHRISTIE SAGA WILLIAMS MICHAEL HOFFMAN
Slide 6: Corporate Overview
Corporate Overview (as of January 19, 2026) TSX: FURY | NYSE-A: FURY MARKET CAP C$197.3M SHARES OUTSTANDING 190.1M WARRANTS 13.0M (C$1.00 exercise price) OPTIONS 6.7M (C$0.98 avg. price) RSUs and DSUs 2.7M FULLY DILUTED 211.8M Newmont Institutional 4% CASH $20.2M 12% High Net Agnico Eagle EQUITY INV
Slide 7: Compelling Value Proposition Compared to Quebec Gold Peers
Compelling Value Proposition Compared to Quebec Gold Peers Gold vs Gold Explorers Quebec Gold Explorers/Developers Mkt Cap (C$M) EV/oz (C$/oz) P/NAV Probe Gold Inc. $530 $418 0.23x Troilus Gold Corp. $541 $44 0.22x Amex Exploration Inc. $369 $141 0.27x Radisson Mining $271 $156 0.29x Resources Ltd.
Slide 8: Compelling Value Proposition – A Closer Look
Compelling Value Proposition – A Closer Look Amex Exploration Fury Gold Mines* Radisson Mining Cartier Resources Region Quebec Quebec, Nunavut Quebec Quebec Stage PEA (Perron) PEA (Eau Claire) PEA (O’Brien) PEA (Cadillac) 1.6Moz (M&I) 1.2Moz (M&I) 0.6Moz (Ind) 0.7Moz (Ind) Resources 0.7Moz (Inf) 0.7
Slide 9: Largest Gold-Focused Land Holding in James Bay
Largest Gold-Focused Land Holding in James Bay Eeyou Istchee James Bay Region of Quebec Hydro World-class government Roads Airports Power support for mining TSX | NYSE-A: FURY furygoldmines.com | 9
Slide 10: Eau Claire & Percival High-Grade Gold Resource
Eau Claire & Percival High-Grade Gold Resource with Compelling Growth Potential Addition of 307koz Au in the Measured and Indicated category (a 36.0% increase) and 223koz Au in the Inferred category (a 44.6% increase) in updated 2024 mineral resource estimate Eau Claire Resource remains open for fur
Slide 11: Eau Claire PEA Overview
Eau Claire PEA Overview Large land position: 24,000+ ha in mining friendly Eeyou Istchee / James Bay region PEA envisions a primary underground (UG) mining operation complemented by a small open pit (OP) Underground: 702koz gold at an average diluted head grade of 5.22 g/t gold from 4.40Mt of materi
Slide 12: Development Scenarios
Development Scenarios All scenarios are based on the same mine plan and assume a gold price of US$2,400 per ounce (“oz”). Each delivers a positive after-tax NPV (5%) and strong IRR: 1. Base Case – Full Standalone Operation (On-site Processing) PEA Model After-tax NPV5: $554M After-tax IRR: 41% 2. Hy
Slide 13: Eau Claire Project - PEA Highlights
Eau Claire Project - PEA Highlights High Grade Project, With Low Initial Capex And Unit Costs (Base Case) C$554M 834k oz US$1,140/oz LOM gold After-tax NPV5%1 production3 AISC5 75.8k oz 41% Avg. annual US$892/oz After-tax IRR1 production over life Total cash costs4 of mine 1. US$2,400 per ounce base
Slide 14: Eau Claire Project – Development Optionality
Eau Claire Project – Development Optionality Production Capital Costs LOM Production Base Case Hybrid Toll Milling Life of mine Resource Initial CapEx (incl UG development) C$ $217M $216M $117M 11 years 6.1Mt Sustaining Capital C$ $66M $66M $66M Contingency included in Capital C$ $36M $36M $10M LOM
Slide 15: Eau Claire & Percival Proposed Fall/Winter Program
Eau Claire & Percival Proposed Fall/Winter Program – Drilling Commenced Drilling commenced with 12,000 to 13,000 metres planned The 2025/2026 drill program at Eau Claire will focus on: ▪ Expanding resources along high-grade shoots, which were highlighted in the PEA mineable portion of the resource;
Slide 16: Committee Bay – Several Drill Ready Targets
Committee Bay – Several Drill Ready Targets 300 km Long Prospective Greenstone Belt in Nunavut 100% ownership of a 300 km greenstone belt (over 235,000 ha.) Existing indicated and inferred resource estimate Significant resource expansion potential for large discovery Belt-wide systematic geochemical
Slide 17: Sakami Project Large-Scale Gold Potential
Sakami Project Large-Scale Gold Potential in a Proven District Road Accessible along edge of Hydro Quebec reservoir La Pointe Extension discovered in 2020 Mineralization is focused along and proximal to large regional shear zones Known gold zones remain open for expansion with potential for new disc
Slide 18: Sakami Project – MRE and Exploration Target
Sakami Project – MRE and Exploration Target NOTES 1. The effective date of the Sakami project Mineral Resource Estimates (“MREs”), is November 11, 2025. 2. The Mineral Resource Estimates were estimated by Olivier Vadnais-Leblanc, P. Geo. of SGS Geological Services who is an independent Qualified Per
Slide 19: Upcoming Catalysts
Upcoming Catalysts Eau Claire PEA next steps – winter drill program has commenced (12,000 to 13,000 metres) and focused on: Continue resource expansion; Improving continuity of resource ounces outside of the PEA mineable portion of the resource; Continued work on vein geometries to further improve e
Slide 20: Appendix
FURY APPENDIX
Slide 21: Eau Claire Deposit
Eau Claire Deposit • Updated Mineral Resource Estimate 2024 Mineral Resource Estimate for the Eau Claire Deposit Category Tonnes Au g/t Contained Au (oz) Measured 1,157,000 5.19 193,000 Open Pit Indicated 1,291,000 4.19 174,000 (base case cut-off grade of 0.5 g/t) Measured & Indicated 2,448,000 4.66
Slide 22: Eau Claire Deposit Resource is Open in All Directions
Eau Claire Deposit Resource is Open in All Directions Eau Claire vein geometry steepened in areas with new data and interpretation. Since acquiring Eau Claire in 2020, Fury has almost doubled the ounces per metre drilled – adding 7.38 ounces of gold for every meter drilled compared to 4.04oz/m drill
Slide 23: Percival Deposit – Maiden Mineral Resource Estimate 2024
Percival Deposit – Maiden Mineral Resource Estimate 2024 Significant Potential for Discovery Percival is one of 15+ anomalies along the Percival – Serendipity trend. Linked by existing road infrastructure to the Eau Claire deposit and behaves similarly to Eau Claire mineralization metallurgically Se
Slide 24: Percival - Serendipity Biogeochemical Survey Results
Percival - Serendipity Biogeochemical Survey Results Robust Structurally Controlled Gold Anomalies Defined Focus on structural controls of brecciation Gold correlates with Ag-As-W-Te in breccias Productive structures distal to Au highlighted by: Ag-As-Sb-Te-Pb-Bi-S TSX | NYSE-A: FURY furygoldmines.c
Slide 25: Sakami 2025 Drill Program La Pointe Extension
Sakami 2025 Drill Program La Pointe Extension – Two Silica Zones Intersected TSX | NYSE-A: FURY | 25
Slide 26: Sakami 2025 Drill Program La Pointe Extension
Sakami 2025 Drill Program La Pointe Extension – 8th Highest Overall Intercept TSX | NYSE-A: FURY | 26
Slide 27: Éléonore South – 100% Ownership
Éléonore South – 100% Ownership • Exciting Potential for New Discovery TSX | NYSE-A: FURY furygoldmines.com | 27
Slide 28: Committee Bay – Three Bluffs Deposit 2025 Drilling Results
Committee Bay – Three Bluffs Deposit 2025 Drilling Results – Composite Long Section 2025 Drilling Results: Four (4) diamond drill holes targeting the expansion of the Three Bluffs Shear Zone with total metres drilled of approximately 2,041m Intercepted gold mineralization across 315m of strike with
Slide 29: Committee Bay – Raven Prospect 2025 Drilling Results
Committee Bay – Raven Prospect 2025 Drilling Results Located 50km west of the Three Bluffs deposit. The 2025 drilling program targeted the southern boundary of the regional shear zone where a previously undrilled gold-bearing outcrop was discovered in 2021. 2025 Drilling Results: Two (2) diamond dri
Slide 30: Committee Bay – 2025 Drilling Highlights
Committee Bay – 2025 Drilling Highlights Prospect Drill Hole From To Interval (m) Gold (g/t) Intervals - Au grade*thickness no less than 0.25 325 326.5 1.5 1.48 g/t*m with grade no less than 0.25 g/t, maximum 355 373 18 0.81 consecutive dilution 6 m; Sub-Intervals - Au 25TB153 Incl. 355 356.5 1.5 3.
Slide 31: Committee Bay – Advanced Infrastructure in Place
Committee Bay – Advanced Infrastructure in Place Full operational camp for 100 people On-site drill rigs and fuel Airstrip and cargo capacity to land 737-200 and C-130 Hercules TSX | NYSE-A: FURY furygoldmines.com | 31
Slide 32: Kipawa and Zeus REE Project
Kipawa and Zeus REE Project Kipawa (68% Fury and 32% IQ) and Zeus (100% Fury) cover 43km2 Kipawa hosts historical reserves of 19.8Mt @ .0411% TREO (Tb and Dy) within a syenite complex REE mineralization occurs at surface and is quarryable Toyotsu Rare Earth Canada holds a 10% NPI 2013 after-tax NPV(
Slide 33: Maintaining the Highest Standards of Environmental Protection
Maintaining the Highest Standards of Environmental Protection and Community Engagement Environment What Digbee says about us ▪ Stewardship training for project contractors, drillers Overarching Pros ▪ Initiating environmental base lines studies at Eau Claire ✓ Good working relationship with ▪ Renewa
Slide 34: Contact Information
Contact Information +1 844 601 0841 info@furygoldmines.com www.furygoldmines.com
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