Fury Announces Results of Preliminary Economic Assessment for the Eau Claire Gold Deposit with a Base Case After-Tax NPV (5%) of $554M and After-Tax IRR of 41%

Core Viewpoint - Fury Gold Mines Limited announced the results of a preliminary economic assessment (PEA) for the high-grade Eau Claire deposit, indicating strong economic potential and significant undervaluation in the market [1][2][11]. Economic Assessment - The PEA evaluated three scenarios based on a gold price of US$2,400 per ounce, showing exceptional internal rates of return (IRR) and net present values (NPV) [2][39]. - The Base Case scenario has an after-tax NPV5 of C$554 million and an IRR of 41%, while the Hybrid Case shows an NPV5 of C$610 million and an IRR of 53%, and the Toll Milling Case has an NPV5 of C$639 million with an IRR of 84% [7][39]. Production and Resources - The PEA outlines a total production of 834,367 ounces of gold over an 11-year life of mine (LOM), with an average annual production of approximately 75,852 ounces [3][7]. - The combined resource at Eau Claire and Percival is 6.39 million tonnes at 5.64 g/t gold, containing 1.16 million ounces in the Measured and Indicated category and 723,000 ounces in the Inferred category [2][12]. Mining Methodology - The project will utilize a hybrid mining approach, combining underground mining with two small open pits, with underground operations starting with a small bulk sample in year minus 1 [3][16]. - The underground operation is expected to produce 702,000 ounces of gold at an average diluted head grade of 5.22 g/t from 4.40 million tonnes of material [3][7]. Capital and Operating Costs - Initial capital expenditures are estimated between C$117 million and C$217 million, with sustaining capital of C$66 million [12][35]. - The all-in sustaining costs (AISC) are projected at US$1,140 per ounce for the Base Case, US$1,153 per ounce for the Hybrid Case, and US$1,170 per ounce for the Toll Milling Case [7][12]. Infrastructure and Environmental Considerations - The project benefits from strong infrastructure, including access to hydro power and roads, which enhances its attractiveness [2][27]. - The Eau Claire project will undergo a provincial Environmental and Social Impact Assessment (ESIA) as part of its development process [42][43]. Indigenous Relations - The company emphasizes its commitment to building effective relationships with Indigenous communities, with approximately 25% of the project team comprising local Indigenous members [44][45]. Next Steps - Fury plans to advance the Eau Claire deposit through further environmental baseline studies, tailings management, and metallurgical testing [47][53].