Fury Gold and Newmont Increase Joint Venture Interests at Éléonore South Gold Project to 100%

Aug 08, 2022

VANCOUVER, BC / ACCESSWIRE / August 8, 2022 / Fury Gold Mines Limited (TSX:FURY, Financial), (NYSE American:FURY) ("Fury" or the "Company") is pleased to announce that Fury and Newmont Corporation ("Newmont") as purchasers have concurrently agreed, through their respective subsidiaries, to buy-out the remaining approximately 23.77% participating interest of Azimut Exploration Inc. on a pro-rata basis. The 100% Éléonore South Joint Venture ("ESJV") interests will then be Fury 50.022% and Newmont 49.978% with Fury remaining operator under an amended and restated joint venture agreement. The cost to Fury of the 11.902% additional participating interest in the joint venture will be approximately C$1.2M. Completion of the purchase is subject to certain conditions precedent and is expected to close in the third quarter of 2022.

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