Financial Performance - Net loss for the period was CAD 2,991,000, compared to a net loss of CAD 714,000 for the same period in 2024, indicating a significant increase in losses [4]. - The company reported a total comprehensive loss of CAD 2,993,000 for the period, compared to CAD 715,000 in the prior year, indicating a worsening financial position [4]. - Basic and diluted loss per share increased to CAD 0.02 from CAD 0.01, indicating a higher loss attributable to each share [4]. - For the three months ended March 31, 2025, the company reported a net loss of $2,991,000 compared to a net loss of $714,000 for the same period in 2024, representing an increase in loss of approximately 319% [64]. - The basic and diluted loss per share for Q1 2025 was $0.02, up from $0.01 in Q1 2024, indicating a 100% increase in loss per share [64]. Assets and Liabilities - Total assets decreased to CAD 81,832,000 as of March 31, 2025, down from CAD 85,112,000 at December 31, 2024, representing a decline of approximately 3.4% [2]. - Current liabilities increased to CAD 1,965,000, up from CAD 1,864,000, marking an increase of about 5.4% [2]. - Cash and cash equivalents at the end of the period were CAD 2,316,000, down from CAD 4,912,000, a decrease of about 53% [8]. - The company's working capital surplus was $5,555,000 as of March 31, 2025, down from $8,045,000 at the end of 2024, a decrease of about 31% [72]. - The accumulated deficit increased to $260,184,000 as of March 31, 2025, compared to $257,192,000 at the end of 2024, indicating a rise of approximately 1.2% [72]. - Total financial assets as of March 31, 2025, were $7,162,000, down from $9,578,000 at December 31, 2024, a decrease of approximately 25% [66]. - The company's total financial liabilities increased to $1,774,000 as of March 31, 2025, compared to $855,000 at the end of 2024, reflecting an increase of about 108% [66]. Exploration and Evaluation - Exploration and evaluation expenses rose to CAD 2,161,000, up from CAD 791,000 in the previous year, reflecting an increase of approximately 173% [4]. - Total exploration and evaluation costs for the three months ended March 31, 2025, amounted to $2,161, an increase from $791 in the same period of 2024 [44]. Investments - The company holds a 16.05% interest in Dolly Varden Silver Corporation and a 25% interest in Universal Mineral Services Limited, indicating ongoing strategic investments [11]. - The quoted fair market value of the Company's equity interest in Dolly Varden increased to $53,097 thousand as of March 31, 2025, compared to $45,406 thousand a year earlier [34]. - The carrying amount of investments in associates decreased to $28,903 thousand as of March 31, 2025, down from $29,355 thousand at the end of 2024 [34]. - The Company reported a revised investment in associates of $32,858 thousand as of March 31, 2024, reflecting an adjustment of $220 thousand [26]. - The Company acquired a 10.9% interest in Sirios Resources Inc. for $1,300 thousand on February 29, 2024, as part of a strategy to consolidate its Éléonore South project [27]. - The company sold 1,000,000 common shares of Dolly Varden for net proceeds of $3,626,000, reducing its interest to 14.5% [79]. Share Capital and Compensation - Share capital remained stable at CAD 312,723,000, with no changes reported during the period [6]. - Share-based compensation expense for the three months ended March 31, 2025, was $5, compared to a recovery of $4 for the same period in 2024 [40]. - The total share-based compensation expense for the three months ended March 31, 2025, was $182, down from $253 in 2024 [49]. - Key management personnel remuneration for the three months ended March 31, 2025, totaled $479, compared to $397 in 2024 [61]. - The number of share options outstanding as of March 31, 2025, was 8,266,172, with a weighted average exercise price of $1.14 [54]. - The company granted 80,000 share options to UMS employees during the three months ended March 31, 2025 [49]. Liquidity and Risk Management - The company is exposed to liquidity risk and has implemented a budgeting and cash management process to ensure sufficient liquidity for its exploration plans [71]. - The company expects to incur approximately $87 in future rental expenses related to a ten-year office lease by UMS as of March 31, 2025 [39]. - The company reported changes in non-cash working capital of $590 for the three months ended March 31, 2025, compared to $165 in 2024 [63]. Acquisitions - The company completed the acquisition of Quebec Precious Metals Corporation on April 29, 2025, by issuing 8,394,045 shares valued at $4.533 million [79].

Core Viewpoint - Fury Gold Mines Limited has successfully completed the acquisition of Québec Precious Metals Corporation, enhancing its exploration portfolio in Québec and positioning itself for growth in the gold and critical minerals sectors [1][3][4]. Transaction Details - The acquisition was executed under a court-approved plan, with former QPM shareholders receiving 0.0741 Fury Shares for each QPM Share held, resulting in the issuance of 8,394,137 Fury Shares [2]. - The properties acquired include the Sakami project, Elmer East project, and Kipawa project, totaling over 157,000 hectares [3]. Management Commentary - Fury's CEO Tim Clark emphasized the transformative nature of the transaction, which doubles the company's footprint in the Eeyou Istchee James Bay territory and aims to create a more robust platform for exploration and growth [4]. - QPM's CEO Normand Champigny expressed confidence in the combined company's ability to accelerate exploration efforts, particularly at the Sakami project, leveraging Fury's resources and expertise [4]. Market Impact - Trading of QPM Shares on the TSX Venture Exchange has been halted and will remain so until delisting, expected by April 30, 2025 [4]. - Following the delisting, QPM plans to cease being a reporting issuer in Canada [4]. Company Background - Fury Gold Mines Limited is focused on exploration in Canada, holding a significant position in Dolly Varden Silver Corp and aiming to grow its gold platform through rigorous project evaluation [7]. - QPM has a large land position in the Eeyou Istchee James Bay territory and is advancing its Sakami gold project and a lithium showing on the Elmer East project [10].

Core Viewpoint - Fury Gold Mines Limited has successfully obtained overwhelming shareholder approval for its acquisition of Quebec Precious Metals Corporation, indicating strong support for the transaction and potential growth opportunities for both companies [1][4]. Group 1: Transaction Details - The Arrangement involves Fury Gold acquiring all issued and outstanding QPM Shares at a ratio of 0.0741 Fury Gold Shares for each QPM Share, valuing each QPM Share at approximately C$0.04 based on the 20-day volume weighted average price [1]. - A total of 50,449,020 QPM Shares were represented at the special meeting, constituting 48.67% of the total issued shares, which met the quorum requirement [2]. - The Arrangement Resolution required at least two-thirds (66⅔%) approval from the votes cast, and it received 88.72% support from the shareholders present [3][4]. Group 2: Next Steps and Regulatory Approval - QPM plans to seek a final court order to approve the Arrangement on April 25, 2025, with the transaction expected to close around April 28, 2025, pending customary closing conditions [5]. - Following the completion of the Arrangement, QPM Shares are anticipated to be delisted from the TSXV and the Frankfurt Stock Exchange [5]. Group 3: Company Profiles - Fury Gold Mines Limited is focused on exploration in Canada, holding a significant position in Dolly Varden Silver Corp and aiming to expand its gold platform through rigorous project evaluation [6]. - Quebec Precious Metals Corporation has a substantial land position in the Eeyou Istchee James Bay territory and is advancing its Sakami gold project and a lithium showing on the Elmer East project [7].

Core Viewpoint - Fury Gold Mines Limited has successfully obtained overwhelming shareholder approval for its acquisition of Quebec Precious Metals Corporation, indicating strong support for the transaction and the strategic alignment between the two companies [1][4]. Group 1: Transaction Details - The Arrangement involves Fury Gold acquiring all issued and outstanding QPM Shares at a ratio of 0.0741 Fury Gold Shares for each QPM Share, valuing each QPM Share at approximately C$0.04 based on the 20-day volume weighted average price as of February 25, 2025 [1]. - A total of 50,449,020 QPM Shares were represented at the special meeting, constituting 48.67% of the total issued shares, which met the quorum requirement [2]. - The Arrangement Resolution required at least two-thirds (66⅔%) approval from the votes cast, and it received 88.72% support from the shareholders present [3][4]. Group 2: Next Steps and Regulatory Approval - QPM plans to seek a final order from the Superior Court of Québec on April 25, 2025, to approve the Arrangement, with completion expected around April 28, 2025, subject to customary closing conditions [5]. - Following the completion of the Arrangement, QPM Shares are anticipated to be delisted from the TSXV and the Frankfurt Stock Exchange [5]. Group 3: Company Profiles - Fury Gold Mines Limited is focused on exploration in Canada, holding a significant position in Dolly Varden Silver Corp and aiming to expand its gold platform through rigorous project evaluation [6]. - Quebec Precious Metals Corporation has a substantial land position in the Eeyou Istchee James Bay territory and is advancing its Sakami gold project and a lithium showing on the Elmer East project, along with a 68% interest in the Kipawa rare earths project [7].

Exhibit 99.2 (An exploration company) CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2024 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the shareholders and the Board of Directors of Fury Gold Mines Limited Opinion on the Financial Statements We have audited the accompanying consolidated statements of financial position of Fury Gold Mines Limited and subsidiaries (the "Company") as of December 31, 2024 and 2023, the related consolidated statements of (earnings) loss and compr ...

Financial Performance - The company reported a significant increase in revenue, achieving $1.5 billion in Q3 2023, representing a 25% year-over-year growth[8]. - The company provided guidance for Q4 2023, expecting revenue to be between $1.6 billion and $1.8 billion, which reflects a growth rate of 20% to 30% compared to Q4 2022[8]. - The company reported a gross margin of 45%, an improvement from 40% in the previous year, indicating better cost management[8]. - The company does not earn any revenues from its business and has a history of losses and negative cash flows from operations, which is expected to continue in the future[1]. - The company anticipates negative cash flow from operations for 2025 and beyond due to the lack of revenues from mining or other activities[36]. - The company may require additional financing to continue its operations, which could be affected by global financial conditions and market volatility[33]. - The effectiveness of the company's internal control over financial reporting is a key risk factor[19]. - The company’s exploration programs are inherently risky and may not achieve targeted objectives or result in the discovery of new resources[1]. - The company’s ability to secure additional financing may be negatively impacted by changes in the economy and general market conditions[33]. User Engagement and Market Expansion - User data showed a total of 10 million active users, up from 8 million in the previous quarter, indicating a 25% increase[8]. - Market expansion plans include entering three new international markets by the end of 2024, projected to increase user base by 15%[8]. - New product launches are anticipated to contribute an additional $200 million in revenue over the next fiscal year[8]. Research and Development - The company is investing $50 million in R&D for new technologies aimed at enhancing user experience and operational efficiency[8]. Acquisitions and Strategic Moves - The company completed the acquisition of a competitor for $300 million, expected to enhance market share and operational capabilities[8]. - The company plans to complete the acquisition of Quebec Precious Metals Corporation, which is expected to enhance its resource base and operational capabilities[11]. - Fury Gold has entered into an arrangement agreement to acquire 100% of Quebec Precious Metals Corporation for approximately $5.1 million payable in common shares[61]. - The company completed the acquisition of Eastmain Resources Inc. on October 9, 2020, and changed its name to Fury Gold Mines Limited[92]. - Fury Gold sold the Homestake Ridge project to Dolly Varden Silver Corporation for $5 million cash and 76,504,590 common shares on February 25, 2022[94]. - The company acquired Newmont's 49.978% interest in the Éléonore South Gold Project for $3 million on February 29, 2024, consolidating ownership to 100%[96]. Environmental and Regulatory Compliance - The company highlighted its commitment to sustainability, with plans to reduce carbon emissions by 30% over the next five years[8]. - The company aims to maintain compliance with current and future environmental, safety, and regulatory requirements[12]. - Fury Gold's operations are subject to evolving environmental regulations, which may impose additional compliance costs and affect profitability[44]. - The company is committed to complying with environmental protection laws, but future legislation could impose additional financial burdens[49]. - The company acknowledges risks related to government regulation of mining operations and environmental and climate-related challenges[12]. - The company emphasizes the importance of obtaining necessary licenses, permits, and regulatory approvals for its planned exploration activities[12]. Community Engagement and Social Responsibility - The company is focused on engaging with local indigenous and affected communities to secure support for its operations and exploration plans[12]. - The company emphasizes the importance of maintaining positive relationships with local communities and Indigenous organizations to avoid project delays[47]. - The Company contributed C$750,000 to the Reconstruction Initiative Forest Fires Fund 2023 to support rebuilding efforts in the Eeyou Istchee James Bay territory[152]. - Fury Gold is committed to responsible mineral exploration and has implemented an Indigenous Relations Policy in 2024 to foster relationships with Indigenous communities[146]. Mineral Resource Estimates and Exploration - The company is assessing its mineral resource estimates and the assumptions underlying them to ensure accuracy[12]. - The company has not established mineral reserves on any of its mineral properties to date[41]. - The company’s mineral resource estimates are subject to significant uncertainty and may vary significantly with new information[39]. - The mineral resource estimates are based on a validated database from 1,202 surface diamond drill holes totaling 406,431 meters[204]. - The total Measured and Indicated resources amount to 6,393,000 tonnes at an average grade of 5.65 g/t Au[198]. - The company anticipates that most inferred mineral resources could be upgraded to indicated resources with continued exploration efforts[208]. Operational Risks and Challenges - The company recognizes the potential impact of external factors such as wars, pandemics, and natural disasters on its operations and financial markets[12]. - The company acknowledges the risks associated with climate change, including extreme weather events that could disrupt operations and increase costs[54]. - Legal claims against the company, regardless of merit, could result in substantial defense and settlement costs, impacting financial condition[68]. - Fury Gold's reliance on contractors and experts for exploration and operational decisions poses risks that could adversely affect its financial condition[66]. - The company faces potential increases in operational costs due to inflation, which has remained above 2% in 2024, potentially leading to equity dilution or reduced expenditures[42]. - Fury Gold's exploration activities are competitive, and the company may struggle to acquire necessary permits and retain qualified personnel due to competition in the mining industry[58]. Drilling and Exploration Results - Fury Gold completed a drilling program at the Eau Claire Deposit in 2023, targeting 10,000 to 15,000 meters to expand the high-grade resource[107]. - The 2023 drilling results at the Hinge Target included intercepts of 5.0m at 3.6 g/t Au and 14.0m at 2.37 g/t Au[110]. - The company reported additional results from the 2023 infill drilling program, including 5.5m at 4.52 g/t gold and 1.0m at 20.20 g/t gold[112]. - Fury Gold's exploration program defined eight gold targets at the Lac Clarkie project adjacent to Eau Claire, with significant mineralization potential[106]. - The final results from the 2023 drilling program at the Hinge Target reported gold intercepts of 17.62 g/t over 3.50m, including 29.80 g/t over 2m[114]. Financial Instruments and Share Issuance - The Company announced a $75 million shelf prospectus allowing for public offerings of common shares and other securities over a 25-month period starting October 12, 2023[119]. - The Company closed a bought-deal private placement in March 2023, raising approximately $8.750 million through the issuance of 6,076,500 flow-through shares at $1.44 each[118]. - The Company raised $11 million through a private placement of 13.75 million common shares at $0.80 per share on April 14, 2022[102]. - The Company has issued Flow-Through Shares that require specific expenditures on exploration in Canada, with risks associated with compliance and timing[82].

Core Viewpoint - Fury Gold Mines Limited is progressing with the acquisition of Quebec Precious Metals Corporation, with completion expected before April 30, 2025, following necessary approvals and arrangements [1][2]. Group 1: Acquisition Details - The acquisition of QPM is on schedule, with a no-objection letter from Corporations Canada and an interim order from the Quebec Superior Court obtained [1]. - QPM's shareholder meeting is set for April 22, 2025, to discuss the merger [1]. - Fury has received conditional approval from the TSX and NYSE American for the acquisition [2]. Group 2: Financial and Corporate Updates - Fury plans to align the carrying value of its mineral properties with its market capitalization through a non-cash impairment charge effective December 31, 2024 [2]. - Director Isabelle Cadieux has resigned from the Fury Board of Directors after 18 months of service [2]. Group 3: QPM's Project Portfolio - QPM holds a land package of approximately 70,900 hectares in the James Bay gold camp, with significant gold mineralization identified in drilling at the La Pointe and La Pointe Extension targets [3]. - The Sakami project features a 23 km long gold-bearing structural corridor, with drill results showing intercepts of 2.51 g/t Au over 54.65 m and 9.22 g/t Au over 12.55 m [3]. - The Elmer East project has shown promising results with grab samples returning up to 68.10 g/t gold [4]. Group 4: Lithium and Rare Earths Projects - QPM has identified spodumene-bearing pegmatites in its land package, with a recent drilling campaign at the Ninaaskumuwin project intercepting +20 m spodumene-bearing pegmatites [5]. - The Kipawa project, which is 68% owned by QPM, has historical reserves of 19.8 million tonnes grading 0.411% total rare earth oxides [6].

Core Viewpoint - Fury Gold Mines Limited has entered into an arrangement agreement to acquire Quebec Precious Metals Corporation, creating a combined company with a significant gold and critical minerals exploration portfolio in Quebec [1][4]. Transaction Highlights - The transaction will consolidate over 157,000 hectares of exploration land in Quebec, enhancing Fury's project pipeline [1][3]. - QPM's project portfolio includes the Sakami project, which has undergone nearly 50,000 meters of drilling, identifying gold mineralization in two zones [3][5]. - The exchange ratio for the transaction is set at 0.0741 Fury Shares for each QPM Share, implying a price of C$0.04 per QPM Share, representing a 33% premium based on closing prices [7][11]. Project Details - QPM's Sakami project features a 23 km long gold-bearing structural corridor with significant gold intercepts, including 2.51 g/t Au over 54.65 m [5]. - The Elmer East project has an undrilled 4.2 km long gold and base metal trend, with grab samples showing up to 68.10 g/t gold [6]. - The Kipawa project, which is 68% owned by QPM, has historical reserves of 19.8 million tonnes grading 0.411% total rare earth oxides [9]. Management and Governance - The board of directors of Fury will remain unchanged post-transaction, with Normand Champigny appointed as a strategic advisor [16]. - Both companies' boards unanimously approved the arrangement agreement and recommended that QPM shareholders vote in favor of the transaction [18]. Timeline and Conditions - The transaction is expected to be completed by the end of April 2025, pending necessary approvals from QPM shareholders and relevant stock exchanges [17]. - A special meeting of QPM shareholders will be held to approve the transaction, requiring a two-thirds majority vote [14].

Core Viewpoint - Fury Gold Mines Limited has initiated drilling at the Éléonore South gold project, targeting significant geological anomalies that could lead to substantial gold discoveries [3][4][5]. Group 1: Drilling Campaign Details - The first phase of drilling will involve approximately 4,000 to 6,000 meters, focusing on an interpreted fold nose within the Low Formation sediments [1][2]. - The drilling will target six undrilled priority targets identified over a 3-kilometer strike length, utilizing biogeochemical sampling and geophysical survey data [1][5]. - The company plans to complete around 15 of the 77 permitted drill holes in this phase, with further drilling contingent on the results obtained [2][11]. Group 2: Geological Context - The Éléonore South project is located in a region known for prolific gold mineralization, adjacent to Newmont's Éléonore Mine and Sirios' Cheechoo Deposit [4]. - Two distinct styles of mineralization have been identified: structurally controlled quartz veins and intrusion-related disseminated gold mineralization [4][6]. - The geological model indicates that the target areas lie within a westerly plunging regional scale fold nose, with secondary fold structures enhancing the prospectivity [5][11]. Group 3: Technical Insights - The drilling program is designed to intercept interpreted structures at various depths, with geological data from each hole being used to refine the targeting model [5][11]. - Historical biogeochemical sampling has indicated the presence of pristine gold grains near the target areas, suggesting minimal transport and proximity to the source [5][12]. - The technical team is leveraging direct experience from the Éléonore Mine to enhance the efficiency and effectiveness of the drilling program [11]. Group 4: Company Overview - Fury Gold Mines Limited is a Canadian-focused exploration company with a strong management team and a commitment to high standards in corporate governance and environmental stewardship [14]. - The company holds a 51 million common share position in Dolly Varden Silver Corp, representing 16.25% of issued shares [14]. - Fury aims to grow its multi-million-ounce gold platform through rigorous project evaluation and exploration excellence [14].

Financial Performance - The company reported a net loss of $4,453,000 for the three months ended September 30, 2024, compared to a net loss of $6,650,000 for the same period in 2023, indicating an improvement of approximately 32.8%[5]. - Total comprehensive loss for the nine months ended September 30, 2024, was $8,883,000, compared to $12,609,000 for the same period in 2023, reflecting a decrease of about 29.0%[5]. - Basic loss per share for the three months ended September 30, 2024, was $0.03, compared to $0.05 for the same period in 2023, showing an improvement of 40%[5]. - The company recognized net losses of $4,453,000 for the three months and $8,881,000 for the nine months ended September 30, 2024, compared to losses of $6,650,000 and $12,606,000 for the same periods in 2023[72]. Assets and Liabilities - Total assets decreased from $189,175,000 on December 31, 2023, to $184,099,000 on September 30, 2024, representing a decline of approximately 2.9%[3]. - The total liabilities increased slightly from $6,301,000 to $6,573,000, an increase of approximately 4.3%[3]. - The company's accumulated deficit increased from $149,054,000 to $157,932,000, a rise of about 5.3%[3]. - The working capital surplus decreased to $6,482,000 as of September 30, 2024, from $7,713,000 at the end of 2023[70]. Cash Flow and Reserves - Cash reserves decreased significantly from $7,313,000 to $3,336,000, a reduction of about 54.4%[3]. - Cash at the end of the period was CAD 3,336,000, down from CAD 10,088,000 at the end of the previous period[9]. - The cash used in operating activities for the three months ended September 30, 2024, was CAD 3,348,000, compared to CAD 4,281,000 for the same period in 2023, indicating a 21.7% decrease[8]. - The company reported cash provided by investing activities of CAD 472,000 for the three months ended September 30, 2024, compared to cash used of CAD 1,786,000 in the same period of 2023[9]. Share Capital and Compensation - The company's share capital increased from $310,277,000 at December 31, 2023, to $312,814,000 at September 30, 2024, an increase of approximately 0.8%[6]. - Share-based compensation expense for the three months ended September 30, 2024, was $1 million, a significant decrease from $45 million in the same period of 2023[37]. - The total remuneration for key management personnel in Q3 2024 was $408,000, an increase of 5.1% from $388,000 in Q3 2023[60]. - Total share-based compensation expense for Q3 2024 was $179,000, a decrease of 6.3% from $191,000 in Q3 2023[49]. Investments and Acquisitions - The company acquired a 49.978% interest in the Eleonore South Joint Venture in February 2024, increasing its ownership to 100%[11]. - The company acquired a 10.9% common share ownership of Sirios Resources Inc. for $1,300, reducing its holdings to 9.3% by September 30, 2024 after selling 1,514,000 shares[26]. - The company recognized a net loss of $3,624 from its investments in associates for the nine months ended September 30, 2024, with a carrying amount of $29,341 as of that date[31]. - The company incurred a transaction cost of $30 while acquiring 100% control of the Éléonore South project from Newmont Corporation for $3,000[28]. Exploration and Evaluation - Exploration and evaluation costs for the nine months ended September 30, 2024, totaled $4,794 million, compared to $6,528 million for the same period in 2023[42]. - Total exploration drilling costs for the three months ended September 30, 2024, amounted to $1,326 million, indicating a focus on mineral exploration activities[42]. - The company is committed to incurring full exploration expenditures of $5,001 million before December 31, 2025, related to the June 2024 offering[40]. Market and Financial Risks - The company's financial instruments are primarily exposed to liquidity risk, credit risk, and market risks, including currency and price risks[69]. - A 10% change in the US dollar to Canadian dollar exchange rate would not have a material impact on the Company's net loss[75]. - The company’s liquidity risk is managed through a budgeting and cash management process to ensure sufficient liquidity for exploration plans[69].