TORONTO, ON / ACCESSWIRE / September 13, 2021 / Fury Gold Mines Limited (TSX:FURY)(NYSE American:FURY) ("Fury" or the "Company") is pleased to announce that the Company has entered into a Royalty Purchase Agreement (‘the Agreement") for the purchase of a 2% net smelter return royalty ("the Royalty') on certain claims at its Homestake Ridge project in British Columbia (Figure 1). The purchase price is $400,000, payable 25% in cash and 75% in shares priced at the 5-day VWAP prior to completion on or before September 20, 2021, but in no event more than 328,367 shares or fewer than 239,000 shares. The shares will be subject to a four-month hold period in Canada. The TSX has conditionally approved the listing of these shares.
"The purchase and consolidation of the Homestake Ridge Royalty provides for a simplified, cleaner ownership structure of the project as it advances through future stages of discovery," commented Tim Clark, CEO of Fury.
The Homestake Ridge project is located in the prolific Iskut-Stewart-Kisault gold belt in northwestern British Columbia, Canada, and covers approximately 7,500 hectares. The project is host to a high-grade gold, silver, copper and lead resource, which remains open at depth and along strike. The Homestake Ridge project is held 100% by the Company, subject to two royalties, with a 2% net smelter royalty ("NSR") applicable to the Crown grants; and a 2% Royalty on 14 mineral claims, which is the subject of this Agreement.
About Fury Gold Mines Limited
Fury Gold Mines Limited is a Canadian-focused gold exploration company positioned in three prolific mining regions across the country. Led by a management team and board of directors with proven success in financing and exploring mining assets, Fury intends to grow and advance its multi-million-ounce gold platform through potential new discoveries. 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 Limited, visit www.furygoldmines.com.
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