Slide 1: Exploring for High-Grade Gold in Canada
EXPLORING FOR HIGH-GRADE GOLD IN CANADA TSX | NYSE-A: FURY PEA Presentation September 2025
Slide 2: Disclaimer
Disclaimer This presentation 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.
Slide 3: Strategically Located in Quebec's Prolific Mining District
Strategically Located in Quebec's Prolific Mining District Skilled Workforce ▪ Stewardship training for project contractors, drillers Environmental Stewardship Eau Claire ▪ Baseline environmental studies Quebec, MRE ’24 underway at Eau Claire Resource stage (Gold) M&I¹: 1.16M oz at 5.64 g/t Au Excel
Slide 4: Eau Claire Infrastructure
Eau Claire Infrastructure Eeyou Istchee James Bay Region of Quebec Hydro World-class government Roads Airports Power support for mining TSX | NYSE-A: FURY furygoldmines.com | 4
Slide 5: 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 6: 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 7: Eau Claire Project - PEA Highlights
Eau Claire Project - PEA Highlights High Grade Project, With Low Initial Capex And Unit Costs (Base Case) C$554M 41% C$217M 2.5 years After-tax NPV5%1 After-tax IRR1 Initial CapEx2 Payback period 834k oz 75.8k oz US$892/oz US$1,140/oz Avg. annual production LOM gold production3 over life of mine Tot
Slide 8: Eau Claire Project – Development Optionality
Eau Claire Project – Development Optionality Production Capital Costs LOM Production Base Case Hybrid Toll Milling Life of mine Resource Initial CapEx (incl UG development) C$ $217M $216M $117M 11 years 6.1Mt Sustaining Capital C$ $66M $66M $66M Contingency included in Capital C$ $36M $36M $10M LOM
Slide 9: Eau Claire Deposit Updated Mineral Resource Estimate 2024
Eau Claire Deposit Updated Mineral Resource Estimate 2024 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 4.66 367,000 Inferred 69,000 4.39 10,000 Measured 455,000 6
Slide 10: Resource Conversion and Mining Methods
Resource Conversion and Mining Methods Open Pit Underground Given its vein-like nature and vertical extent, Methodology Conventional Longitudinal Longhole Stoping underground mining is considered the most suitable Minimum Mining Width: 1.8 m extraction method, except for the portion near the Dimensi
Slide 11: Open Pit and Underground Mining Schedule and Grade Profile
Open Pit and Underground Mining Schedule and Grade Profile TSX | NYSE-A: FURY | 11
Slide 12: Processing Methods and Recovery
Processing Methods and Recovery Metallurgical test programs have Conceptual Flowsheet demonstrated that the ore is amenable to a gravity plus cyanidation carbon-in-leach (CIL) processing strategy, achieving consistently high gold recoveries and confirming the robustness of the selected flowsheet. Ov
Slide 13: Capital and Operating Cost Summary
Capital and Operating Cost Summary Input Base Case Hybrid Toll Milling Initial Capital Pre-Production Engineering & Design $9M $9M $2M Process Plant $86M $86M Tailings $5M $5M Site Facilities $16M $17M $17M Power Line from Quebec Hydro 18 km $13M $13M $13M Surface Support Equipment $2.3M $2.3M $2.3M
Slide 14: Economic Sensitivities
Economic Sensitivities Project Upside in a Rising Gold Price Environment NPV5 to Gold Price Sensitivities Gold Price (US$) Base Case Hybrid Case Toll Milling Case $1,440 (-40%) $70M $72M $96M $1,920 (-20%) $318M $346M $375M $2,400 (Study Price) $554M $610M $639M $2,880 (+20%) $787M $867M $897M $3,36
Slide 15: Next Steps
Next Steps Ongoing focus: 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 economics on the project. Continue to advance the Eau Claire deposit through environmental baseline
Slide 16: Contact Information
Contact Information +1 844 601 0841 info@furygoldmines.com www.furygoldmines.com