Fury Gold Mines and Quebec Precious Metals Update Merger Process
Fury Gold Mines and Quebec Precious Metals (QPM) announced progress in their merger process, which is expected to complete before April 30, 2025. QPM has obtained necessary approvals from Corporations Canada and Quebec Superior Court, with a shareholder meeting scheduled for April 22, 2025. Fury has secured conditional approval from TSX and NYSE American.
QPM's portfolio includes the Sakami project, covering 70,900 hectares in the James Bay gold camp, featuring significant gold mineralization with intercepts up to 9.22 g/t Au over 12.55m. The Elmer East project shows promising gold and base metal potential with samples up to 68.10 g/t gold. Recent drilling at the Ninaaskumuwin project revealed spodumene-bearing pegmatites extending 150m vertically.
Additionally, QPM holds 68% of the Kipawa project, containing historical reserves of 19.8 million tonnes grading 0.411% total rare earth oxides. Fury disclosed an expected non-cash impairment charge effective December 31, 2024, to align mineral property values with market capitalization.
Fury Gold Mines e Quebec Precious Metals (QPM) hanno annunciato progressi nel loro processo di fusione, che dovrebbe concludersi prima del 30 aprile 2025. QPM ha ottenuto le necessarie approvazioni da Corporations Canada e dalla Corte Superiore del Quebec, con un incontro degli azionisti programmato per il 22 aprile 2025. Fury ha ottenuto l'approvazione condizionata da TSX e NYSE American.
Il portafoglio di QPM include il progetto Sakami, che copre 70.900 ettari nel campo d'oro di James Bay, caratterizzato da una significativa mineralizzazione aurifera con intercettazioni fino a 9,22 g/t Au su 12,55m. Il progetto Elmer East mostra un potenziale promettente per oro e metalli di base con campioni fino a 68,10 g/t di oro. Recenti perforazioni nel progetto Ninaaskumuwin hanno rivelato pegmatiti contenenti spodumene che si estendono per 150m in verticale.
Inoltre, QPM detiene il 68% del progetto Kipawa, contenente riserve storiche di 19,8 milioni di tonnellate con un grado di 0,411% di ossidi di terre rare totali. Fury ha comunicato un previsto onere di impairment non monetario a decorrere dal 31 dicembre 2024, per allineare i valori delle proprietà minerarie con la capitalizzazione di mercato.
Fury Gold Mines y Quebec Precious Metals (QPM) anunciaron avances en su proceso de fusión, que se espera complete antes del 30 de abril de 2025. QPM ha obtenido las aprobaciones necesarias de Corporations Canada y del Tribunal Superior de Quebec, con una reunión de accionistas programada para el 22 de abril de 2025. Fury ha asegurado la aprobación condicional de TSX y NYSE American.
El portafolio de QPM incluye el proyecto Sakami, que abarca 70,900 hectáreas en el campo de oro de James Bay, con una mineralización aurífera significativa que presenta intercepciones de hasta 9.22 g/t Au sobre 12.55m. El proyecto Elmer East muestra un potencial prometedor para oro y metales básicos con muestras de hasta 68.10 g/t de oro. Recientes perforaciones en el proyecto Ninaaskumuwin revelaron pegmatitas que contienen espodumena que se extienden 150m verticalmente.
Además, QPM posee el 68% del proyecto Kipawa, que contiene reservas históricas de 19.8 millones de toneladas con una ley de 0.411% de óxidos de tierras raras totales. Fury reveló un esperado cargo por deterioro no monetario efectivo el 31 de diciembre de 2024, para alinear los valores de las propiedades minerales con la capitalización de mercado.
퓨리 골드 마인스와 퀘벡 프레셔스 메탈스 (QPM)는 2025년 4월 30일 이전에 완료될 것으로 예상되는 합병 과정에서 진전을 발표했습니다. QPM은 캐나다 기업청과 퀘벡 고등 법원에서 필요한 승인을 받았으며, 주주 회의는 2025년 4월 22일로 예정되어 있습니다. 퓨리는 TSX와 NYSE 아메리카에서 조건부 승인을 확보했습니다.
QPM의 포트폴리오에는 제임스 베이 금 캠프에서 70,900헥타르를 포함하는 사카미 프로젝트가 있으며, 12.55m에서 최대 9.22g/t Au의 중요한 금 광물이 발견되었습니다. 엘머 이스트 프로젝트는 최대 68.10g/t 금 샘플을 통해 유망한 금 및 기초 금속 잠재력을 보여줍니다. 최근 니나아스쿠무윈 프로젝트에서 150m 수직으로 확장된 스포듐렌을 포함한 페그마타이트가 발견되었습니다.
또한 QPM은 총 0.411%의 희토류 산화물로 등급이 매겨진 1980만 톤의 역사적 매장량을 포함하는 키파와 프로젝트의 68%를 보유하고 있습니다. 퓨리는 2024년 12월 31일 기준으로 비현금 손상 차감이 예상된다고 발표하여 광물 자산 가치를 시가총액과 맞추기로 했습니다.
Fury Gold Mines et Quebec Precious Metals (QPM) ont annoncé des progrès dans leur processus de fusion, qui devrait être achevé avant le 30 avril 2025. QPM a obtenu les approbations nécessaires de Corporations Canada et de la Cour supérieure du Québec, avec une assemblée des actionnaires prévue pour le 22 avril 2025. Fury a obtenu une approbation conditionnelle de TSX et NYSE American.
Le portefeuille de QPM comprend le projet Sakami, couvrant 70 900 hectares dans le camp d'or de James Bay, présentant une minéralisation aurifère significative avec des intercepts allant jusqu'à 9,22 g/t Au sur 12,55 m. Le projet Elmer East montre un potentiel prometteur pour l'or et les métaux de base avec des échantillons allant jusqu'à 68,10 g/t d'or. Des forages récents dans le projet Ninaaskumuwin ont révélé des pegmatites contenant du spodumène s'étendant sur 150 m verticalement.
De plus, QPM détient 68 % du projet Kipawa, contenant des réserves historiques de 19,8 millions de tonnes avec une teneur de 0,411 % d'oxydes de terres rares totaux. Fury a annoncé un amortissement non monétaire prévu à compter du 31 décembre 2024, afin d'aligner les valeurs des propriétés minérales sur la capitalisation boursière.
Fury Gold Mines und Quebec Precious Metals (QPM) haben Fortschritte in ihrem Fusionsprozess bekannt gegeben, der voraussichtlich vor dem 30. April 2025 abgeschlossen sein wird. QPM hat die notwendigen Genehmigungen von Corporations Canada und dem Obersten Gerichtshof von Quebec erhalten, mit einer Hauptversammlung der Aktionäre, die für den 22. April 2025 geplant ist. Fury hat eine bedingte Genehmigung von TSX und NYSE American erhalten.
Das Portfolio von QPM umfasst das Sakami-Projekt, das 70.900 Hektar im Goldlager James Bay abdeckt und eine signifikante Goldmineralisierung mit Interzepten von bis zu 9,22 g/t Au über 12,55 m aufweist. Das Elmer East-Projekt zeigt vielversprechendes Potenzial für Gold und Basismetalle mit Proben von bis zu 68,10 g/t Gold. Jüngste Bohrungen im Ninaaskumuwin-Projekt haben spodumenhaltige Pegmatite enthüllt, die sich 150 m vertikal erstrecken.
Darüber hinaus hält QPM 68% des Kipawa-Projekts, das historische Reserven von 19,8 Millionen Tonnen mit einem Gehalt von 0,411% Gesamtgehalt an Seltenen Erden enthält. Fury gab bekannt, dass zum 31. Dezember 2024 eine erwartete nicht zahlungswirksame Wertminderung zur Angleichung der Werte der mineralischen Grundstücke an die Marktkapitalisierung wirksam wird.
- Acquisition adds 70,900 hectares of prospective gold land in James Bay camp
- High-grade gold intercepts at Sakami project up to 9.22 g/t Au over 12.55m
- Addition of lithium assets with confirmed spodumene pegmatites
- Access to rare earth sector through 68% stake in Kipawa project
- Merger proceeding on schedule with key regulatory approvals secured
- Non-cash impairment charge expected on Fury's mineral properties
- Loss of director Isabelle Cadieux from Fury's board
- Kipawa project relies on historical reserves from 2013
MONTREAL, QC AND TORONTO, ON / ACCESS Newswire / March 26, 2025 / Fury Gold Mines Limited (TSX:FURY)(NYSE American:FURY) ("Fury") and Quebec Precious Metals Corporation (TSXV:QPM)(FSE:YXEP) ("QPM") are pleased to announce that, following the February 26, 2025, announcement of the arrangement agreement (see news release dated February 26, 2025), the acquisition of QPM is moving forward on schedule with an anticipated completion prior to April 30, 2025. QPM has now secured the required no-objection letter from Corporations Canada as well as the interim order from the Quebec Superior Court in connection with convening the QPM shareholders meeting scheduled for April 22, 2025.
Fury has secured the conditional approval of the TSX and NYSE American. QPM's shareholder meeting circular has been filed at www.sedarplus.ca, and provides details of the merger as well as updated information about Fury including disclosure of a non-cash impairment charge expected to be effective December 31, 2024, to align the carrying value of Fury's mineral properties to its prevailing market capitalization. As well Fury announces that director Isabelle Cadieux has resigned from the Fury Board of Directors to pursue other opportunities. Fury thanks Ms. Cadieux for her service over the last 18 months.
QPM Precious and Critical Minerals Project Portfolio:
Gold and Lithium:
QPM holds a highly prospective land package covering approximately 70,900 hectares largely within the emerging James Bay gold camp. The road-accessible Sakami project is host to a 23 kilometre (km) long gold-bearing structural corridor. Drilling to date at the La Pointe and La Pointe Extension targets within this trend has identified gold mineralization across widths of up to 75 m and to a depth of up to 500 m with reported intercepts of 2.51 g/t gold (Au) over 54.65 m from drill hole EX-10; 9.22 g/t Au over 12.55 m from drill hole EX-19 and 2.52 g/t Au over 48.55 m from drill hole PT-16-92. The identified gold mineralization at both La Pointe and La Pointe Extension remains open to depth and along strike. Further south along the same gold-bearing structure lies an intriguing undrilled coincident gold in soil geochemical anomalies and Induce Polarization (IP) geophysical chargeability anomaly with similar signature to the La Pointe and La Pointe Extension targets.
The Elmer East project is host to an undrilled 4.2 km long east-west oriented gold and base metal bearing structural trends known as the Lloyd showing where grab samples have returned results of up to 68.10 g/t gold,
Spodumene bearing pegmatites have been identified throughout the QPM land package with a recently completed drilling campaign at the Ninaaskumuwin project where +20 m spodumene bearing pegmatites with vertical continuity of up to 150 m were intercepted in drilling late 2024 (analytical results are pending at this time).
Rare Earths
The Heavy Rare Earth Elements (HREE) Kipawa project (
Normand Champigny, Eng., CEO and Director of QPM, is a qualified person within the meaning of National Instrument 43-101 on standards of disclosure for mineral projects. He has reviewed and approved the technical information contained in this press release.
About Fury Gold Mines Limited
Fury Gold Mines Limited is a Canadian-focused exploration company positioned in two prolific mining regions across the country and holds an approximate 51 million common share position in Dolly Varden Silver Corp. (approximately
About Quebec Precious Metals Corporation
QPM has a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Dhilmar Ltd.'s (formerly owned by Newmont Corporation) Éléonore gold mine. QPM focuses on advancing its Sakami gold project and its newly discovered, drill-ready Ninaaskuwin lithium showing on the Elmer East project. In addition, QPM holds a
For further information on Fury Gold Mines Limited, please contact:
Margaux Villalpando, Investor Relations
Tel: (844) 601-0841
Email: info@furygoldmines.com
Website: www.furygoldmines.com
For more information about QPM, please contact:
Normand Champigny, Chief Executive Officer
Tel.: (514) 979-4746
Email: nchampigny@qpmcorp.ca
Website: www.qpmcorp.ca
Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events. These particularly pertain to the outlook for completion of the proposed Transaction and synergies that might arise from it.
Although Fury and QPM have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information including the uncertainty of the shareholder and regulatory approval process the two companies face and many other risks described in our recent securities filings available at www.sedarplus.ca.
There may also be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place heavy reliance on forward-looking information. Neither Fury nor QPM undertake to update any forward-looking information except in accordance with applicable securities laws.
No regulatory authority has approved the contents of this news release.
SOURCE: Quebec Precious Metals Corporation
View the original press release on ACCESS Newswire
FAQ
What are the key assets QPM brings to the Fury Gold Mines merger?
What are the significant gold intercepts reported at QPM's Sakami project?
When is the QPM shareholder meeting scheduled for the Fury Gold merger?
What is the expected completion date for the Fury Gold-QPM merger?
What are the historical reserves of QPM's Kipawa rare earth project?
