Fury Gold Mines and Quebec Precious Metals Update Merger Process

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].