Financial Performance - The company reported a net loss of CAD 6,650,000 for the three months ended September 30, 2023, compared to a net loss of CAD 12,280,000 for the same period in 2022, indicating a 46.5% improvement[5]. - The total comprehensive loss for the nine months ended September 30, 2023, was CAD 12,609,000, compared to a comprehensive income of CAD 27,777,000 for the same period in 2022[5]. - The basic loss per share for the three months ended September 30, 2023, was CAD 0.05, compared to CAD 0.09 for the same period in 2022[5]. - For the three months ended September 30, 2023, Fury Gold Mines reported a net loss of CAD 6,650,000 compared to a net loss of CAD 12,280,000 for the same period in 2022, indicating a 46.5% improvement in losses year-over-year[67]. - The weighted average number of shares outstanding for the three months ended September 30, 2023, was 145,547,450, resulting in a basic loss per share of CAD 0.05, compared to CAD 0.09 for the same period in 2022[67]. Assets and Liabilities - As of September 30, 2023, total assets decreased to CAD 195,536,000 from CAD 200,599,000 at December 31, 2022, representing a decline of approximately 2.1%[3]. - The company’s total liabilities increased to CAD 8,286,000 as of September 30, 2023, compared to CAD 5,806,000 at December 31, 2022, marking an increase of approximately 42.7%[3]. - Cash and cash equivalents at the end of the period were CAD 10,088,000, a decrease from CAD 14,030,000 at the beginning of the period, representing a decline of 28.0%[10]. - Fury Gold's total financial liabilities as of September 30, 2023, were CAD 2,651,000, compared to CAD 1,616,000 at December 31, 2022, representing a significant increase of 63.9%[69]. - Fury Gold's working capital surplus as of September 30, 2023, was CAD 9,212,000, a decrease from CAD 10,554,000 at December 31, 2022, representing a decline of 12.7%[75]. Exploration and Evaluation - Exploration and evaluation expenses for the nine months ended September 30, 2023, totaled CAD 6,528,000, down from CAD 7,871,000 in the same period of 2022, reflecting a decrease of approximately 17.0%[5]. - Total exploration and evaluation costs for Q3 2023 amounted to CAD 3,839,000, compared to CAD 3,785,000 for Q3 2022, reflecting an increase in exploration activities[47]. - Fury Gold has committed to a minimum 6,000 metre drilling program for its 2023 exploration, with 13,262 metres already drilled as of September 30, 2023[79]. Share Capital and Compensation - Share capital increased to CAD 310,277,000 as of September 30, 2023, from CAD 306,328,000 at December 31, 2022, reflecting a growth of about 0.6%[3]. - Share-based compensation expense for share options issued to UMS employees was CAD 45,000 for Q3 2023 and CAD 293,000 for the nine months ended September 30, 2023, compared to CAD 100,000 and CAD 408,000 for the same periods in 2022, respectively[42]. - The company recognized total share-based compensation expense of CAD 1,117,000 for the nine months ended September 30, 2023, down from CAD 1,455,000 for the same period in 2022[54]. Investments - The company holds a 50.022% interest in the Eleonore South Joint Venture and a 23.36% interest in Dolly Varden Silver Corporation as of September 30, 2023[13]. - The fair market value of the Company's investment in Dolly Varden as of September 30, 2023, was CAD 38,083,000 based on a closing share price of CAD 0.64[35]. - The marketable securities held by the Company increased to CAD 1,673,000 as of September 30, 2023, from CAD 582,000 at the end of 2022, after accounting for additions of CAD 1,138,000 and disposals of CAD 79,000[28]. - The total carrying amount of the Company's mineral interests was CAD 144,140,000 as of September 30, 2023, a slight decrease from CAD 145,190,000 at the end of 2022[29]. - The total balance of the Company's mineral interests in Quebec was CAD 124,826,000 as of September 30, 2023, reflecting a decrease due to option payments received and changes in estimates[29]. Cash Flow and Management - The company reported a cash used in operating activities of CAD 4,281,000 for the three months ended September 30, 2023, compared to CAD 5,132,000 for the same period in 2022, indicating a reduction of approximately 16.6%[10]. - The company recognized a total of CAD 1,599,000 in remuneration for key management personnel for the nine months ended September 30, 2023, down from CAD 2,091,000 for the same period in 2022, a reduction of 23.5%[63]. - The company incurred a change in non-cash working capital of CAD 558,000 for the three months ended September 30, 2023, compared to a negative change of CAD 705,000 for the same period in 2022[64].

Shareholder Meeting Outcomes - A total of 48,123,149 common shares were present or represented by proxy at the Annual General Meeting, representing 32.97% of the outstanding common shares[3]. - Forrester A. Clark received 99.51% of votes for his election as a director, with 47,755,658 votes in favor[4]. - Deloitte LLP was appointed as the Company's auditor with 99.59% of votes in favor, totaling 47,924,179 votes[5]. - The proposed Long-Term Incentive Plan was approved with 96.87% of votes for, amounting to 46,618,720 votes[6]. Ownership Information - Fury Gold Mines holds a 59.5 million common share position in Dolly Varden Silver Corp, representing 23.4% ownership[7].

EX-99.1 2 fury_ex991.htm FINANCIAL STATEMENTS EXHIBIT 99.1 (An exploration company) CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) FOR THE THREE MONTHS ENDED MARCH 31, 2023 Fury Gold Mines Limited Condensed Interim Consolidated Statements of Financial Position (Expressed in thousands of Canadian dollars – Unaudited) | | | | | | At December | | --- | --- | --- | --- | --- | --- | | | | | At March 31 | | 31 | | | Note | | 2023 | | 2022 | | Assets | | | | | | | Current assets: | | | | | | | Ca ...

EX-99.1 2 fury_ex991.htm CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS EXHIBIT 99.1 (An exploration company) CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2022 Fury Gold Mines Limited Condensed Interim Consolidated Statements of Financial Position (Expressed in thousands of Canadian dollars – Unaudited) | | | | At | | At | | --- | --- | --- | --- | --- | --- | | | | | September | | December | | | | | 30 | | 31 | | | Note | | 2022 | | ...

EXHIBIT 99.1 (An exploration company) Condensed Interim Consolidated Statements of Financial Position (Expressed in thousands of Canadian dollars – Unaudited) CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2022 Fury Gold Mines Limited | | | | | | At | | --- | --- | --- | --- | --- | --- | | | | | At June 30 | | December 31 | | | Note | | 2022 | | 2021 | | Assets | | | | | | | Current assets: | | | | | | | Cash | | $ | 12,361 | $ | 3,259 | | Market ...

EX-99.1 2 fury_ex991.htm FINANCIALS EXHIBIT 99.1 (An exploration company) CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) FOR THE THREE MONTHS ENDED MARCH 31, 2022 Fury Gold Mines Limited Condensed Interim Consolidated Statements of Financial Position (Expressed in thousands of Canadian dollars – Unaudited) | | | | | | At | | --- | --- | --- | --- | --- | --- | | | | | At March | | December | | | | | 31 | | 31 | | | Note | | 2022 | | 2021 | | Assets | | | | | | | Current assets: | | | | | | ...