Fury Initiates Environmental Baseline Studies at the Eau Claire Gold Project in Quebec

Rhea-AI Summary

Fury (TSX/NYSE American: FURY) has begun a two-year environmental baseline study at its 100%‑owned Eau Claire high‑grade gold project in the Eeyou Istchee Territory, James Bay region, Quebec.

Fury engaged Wassah, a Cree‑owned multidisciplinary environmental, engineering and forestry firm, to document air, water, soil and biotic baseline conditions to support future permitting, impact prediction, mitigation design and mine planning.

Positive

• Two‑year baseline program launched to establish pre‑development environmental conditions
• 100%‑owned Eau Claire project advances toward permitting and technical studies
• Local Cree‑owned partnership with Wassah supports community relations and Indigenous participation
• Comprehensive scope covering air, water, soil and biotic resources for regulatory applications

Negative

• None.

News Market Reaction – FURY

-1.78%

-1.78% Session close to close

In the Apr 28 session, FURY declined 1.78%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement marks a key advancement for the Eau Claire project, as two years of environmental ...

Analysis

This announcement marks a key advancement for the Eau Claire project, as two years of environmental baseline studies will support future impact assessment and mine permitting. It follows a series of drill results and corporate appointments aimed at progressing Eau Claire in 2026. Investors may watch how these studies feed into permitting timelines, community engagement, and project design, alongside ongoing drilling and previously outlined economic metrics such as the project’s PEA outcomes.

Key Figures

Project ownership: 100% held Study duration: two years Year founded: 2024 +1 more

4 metrics

Project ownership 100% held Ownership of the Eau Claire high-grade gold project

Study duration two years Planned duration of environmental baseline studies

Year founded 2024 Founding year of Wassah, the engaged environmental firm

Market cap $112,572,338 Pre-news market capitalization for FURY

Historical Context

5 past events · Latest: Apr 23 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Apr 23	Drill results update	Positive	-3.1%	Phase 1 drill results at Eau Claire with 12.50 g/t Au over 7.02 m.
Apr 07	Management change	Positive	-1.2%	Appointment of VP Project Development to advance Eau Claire toward feasibility.
Mar 17	Drill results update	Positive	+0.1%	Initial Phase 1 results including 11.74 g/t Au over 6.63 m; Phase 2 start.
Jan 26	Board appointment	Positive	-4.3%	Addition of experienced mining executive as independent director to support growth.
Jan 08	Corporate update	Positive	-1.1%	Review of 2025 milestones, Eau Claire PEA metrics and 2026 exploration priorities.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent positive operational and corporate updates have often coincided with negative 24-hour price reactions, indicating a pattern of weak near-term responses to news.

Recent Company History

Over the last few months, Fury has focused on advancing the Eau Claire and Sakami assets through drilling, economic studies, and corporate strengthening. Key drill results on Mar 17 and Apr 23 delivered high-grade intercepts and a fully financed Phase 2 program, yet near-term reactions were modest or negative. Board and management appointments on Jan 26 and Apr 7, plus a strategic 2025 achievements update on Jan 8, similarly saw limited price follow-through. Today’s environmental baseline studies update continues the theme of de-risking Eau Claire.

Key Terms

environmental baseline studies, environmental impact assessment, mitigation measures, mine permitting process

4 terms

environmental baseline studies technical

"Fury ... announce commencement of environmental baseline studies (the “Study”) at the Company’s 100% held Eau Claire..."

Environmental baseline studies are systematic surveys that document current air, water, soil, wildlife and habitat conditions at a site before any major project or change. Investors use them to estimate regulatory hurdles, cleanup liabilities, permitting timelines and potential costs—think of it as a health checkup and inspection report before a building renovation that reveals hidden problems that could delay the work or raise the bill.

environmental impact assessment regulatory

"...establishing baseline conditions for a future environmental impact assessment."

An environmental impact assessment is a process that evaluates how a planned project or development might affect the natural environment, including air, water, land, and wildlife. It helps identify potential risks and suggests ways to minimize harm before the project begins. For investors, it matters because projects with significant environmental risks may face delays, increased costs, or restrictions, affecting their overall viability and returns.

mitigation measures technical

"...identify potential environmental impacts, design mitigation measures, support environmental effects predictions..."

Actions and policies a company puts in place to reduce the chance or severity of a problem—such as safety steps, contingency plans, recalls, or legal settlements. Like installing fire alarms or spare tires for a business, these measures help limit damage to operations, costs, and reputation. Investors care because strong mitigation can lower future losses, regulatory fines, and downtime, while poor measures can increase risk and unpredictability.

mine permitting process regulatory

"These studies are an important part of Eau Claire’s mine permitting process."

The mine permitting process is the set of government approvals, environmental reviews and local consents required before a mineral project can be built and run. Like getting a stack of permits to build a house, it sets what activity is allowed, what protections must be in place, and how long construction and operations can take. For investors it matters because permits drive the project’s timeline, costs, legal risk and overall likelihood of producing revenue.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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TORONTO, April 28, 2026 (GLOBE NEWSWIRE) -- Fury Gold Mines Limited (TSX and NYSE American: FURY) (“Fury” or the “Company”) is pleased to announce commencement of environmental baseline studies (the “Study”) at the Company’s 100% held Eau Claire high-grade gold project (“Eau Claire” or the “Project”), located in the Eeyou Istchee Territory in the James Bay Region of Northern Quebec. Fury has engaged Wassah a multidisciplinary firm specializing in environmental services, engineering and forestry. The Study, which will be carried out over the next two years, will include field inventories of the various components of the natural and human environments, establishing baseline conditions for a future environmental impact assessment.

“The initiation of environmental baseline studies for Eau Claire is an important step for Fury, as we advance technical studies. The findings will guide our development strategy and will allow us to design and operate in a manner that minimizes environmental impact while optimizing Eau Claire’s economic potential,” commented Tim Clark, CEO of Fury.

The primary goals of the environmental baseline program are to establish a detailed understanding of current environmental conditions prior to development, identify potential environmental impacts, design mitigation measures, support environmental effects predictions and mine planning, provide data for project permitting, and put in place effective monitoring and remediation strategies. This program will form the foundation for required regulatory authorization applications by providing a comprehensive assessment of the environmental conditions, including air, water, soil, and biotic resources. These studies are an important part of Eau Claire’s mine permitting process.

Founded in 2024, Wassah is a Cree-owned company headquartered in Eastmain, in the Eeyou Istchee Territory in the James Bay region of Quebec. The firm is the result of an association between a Cree partner and environmental and forestry professionals with many years of experience in private practice. The company boasts a first-rate professional and technical framework with qualified employees and stands out for its solid expertise in relations with local communities and the integration of aboriginal workers into every mandate. Rooted in a sustainable vision and respect for traditional knowledge, Wassah delivers innovative, socially responsible projects that protect and preserve natural ecosystems.

About Fury Gold Mines Limited

Fury Gold Mines Limited is a well-financed Canadian-focused exploration company positioned in two prolific mining regions across Canada and holds a 5.8% equity position in Contango Silver and Gold Inc. Led by a management team and board of directors with proven success in financing and advancing exploration assets, Fury intends to grow its multi-million-ounce gold platform through rigorous project evaluation and exploration excellence. Fury is committed to upholding the highest industry standards for corporate governance, environmental stewardship, community engagement and sustainable mining. For more information on Fury Gold Mines, visit www.furygoldmines.com.

For further information on Fury Gold Mines Limited, please contact:

Salisha Ilyas, Investor Relations
Tel: (844) 601-0841
Email: info@furygoldmines.com
Website: www.furygoldmines.com

Forward-Looking Statements and Additional Cautionary Language

This news release 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. Specific forward-looking statements contained in this news release includes information relating to the Company’s ongoing exploration program at the Eau Claire project.

Although the Company believes that the assumptions and expectations reflected in those forward-looking statements were reasonable at the time such statements were made, there can be no certainty that such assumptions and expectations will prove to be materially correct. Mineral exploration is a high-risk enterprise.

Readers should refer to the risks discussed in the Company’s Annual Information Form and MD&A for the year ended December 31, 2025 and subsequent continuous disclosure filings with the Canadian Securities Administrators available at www.sedarplus.ca and the Company’s Annual Report available at www.sec.gov. Readers should not place heavy reliance on forward-looking information, which is inherently uncertain.

FAQ

What is Fury announcing about the Eau Claire environmental baseline studies (FURY) dated April 28, 2026?

Fury has started a two‑year environmental baseline study at Eau Claire. According to the company, the study will document air, water, soil and biotic conditions to support environmental assessment and permitting.

Who is conducting the Eau Claire baseline studies for Fury (FURY) and why is that significant?

Fury engaged Wassah, a Cree‑owned environmental firm, to lead the studies. According to the company, Wassah offers local knowledge, Indigenous participation and technical experience for community relations and field work.

How long will the environmental baseline program at Eau Claire (FURY) run and what will it cover?

The program will run for two years and include field inventories of natural and human environments. According to the company, it will cover air, water, soil, biotic resources and human‑environment components for impact prediction.

What is the purpose of the environmental baseline studies at Eau Claire for Fury (FURY)?

The purpose is to establish baseline conditions and support permitting for potential development. According to the company, findings will inform mitigation design, monitoring, remediation strategies and mine planning.

Will the Eau Claire baseline studies affect Fury's permitting timeline (FURY)?

The studies are intended to support future regulatory authorization applications, contributing data for environmental effects predictions. According to the company, this foundational work is a required step in the permitting process.