Author: joverv

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MONTREAL and TORONTO, Canada – April 28, 2025 – FURY GOLD MINES LIMITED (TSX: FURY, NYSE American: FURY) (“Fury”) is pleased to announce the successful completion of its previously announced transaction with Québec Precious Metals Corporation (“QPM”), previously announced on February 26, 2025, whereby Fury acquired all of the issued and outstanding common shares of QPM (the “QPM Shares”) pursuant to a court-approved plan of arrangement under the Canada Business Corporations Act (the “Arrangement”).

Pursuant to the Arrangement, former shareholders of QPM received 0.0741 of a common share of Fury (each whole common share of Fury, a “Fury Share”) for each QPM Share held (the “Exchange Ratio”). As a result of the Arrangement, Fury issued an aggregate of 8,394,137 Fury Shares as of the completion of the Arrangement. In addition, options and warrants of QPM that were outstanding as at the time of completion of the Arrangement are now exercisable for Fury Shares on substantially the same terms and conditions, with the number of Fury Shares issuable on exercise and the exercise price adjusted in accordance with the Exchange Ratio.

Transaction Highlights:

• Deliver increased scale and enhanced diversification with the addition of several prospective gold and critical minerals exploration assets located in Quebec.

• Provide synergy and cost savings with Fury’s board and management team with a track record of capital raising, discovery, exploration success, and community engagement leading the combined company.

With the completion of the acquisition of QPM, Fury now owns a gold and critical mineral exploration portfolio totaling over 157,000 hectares in Québec. The properties acquired by Fury pursuant to the Arrangement include the Sakami project, the Elmer East project, and the Kipawa project. For further details with respect the projects of QPM, refer to the news release dated February 26, 2025.

Tim Clark, CEO of Fury commented: “We are pleased to officially complete this transformative transaction, which doubles Fury’s footprint in the Eeyou Istchee James Bay territory. The integration of QPM’s high-potential gold and critical minerals assets with Fury’s existing portfolio and strong financial position creates a more robust platform for exploration and growth. We believe the combined strengths of our teams and resources will drive greater operational efficiency and unlock long-term value for shareholders.”

Normand Champigny, CEO and Director of QPM, commented: “Completing this transaction with Fury marks an exciting new chapter for QPM’s shareholders. With access to Fury’s strong leadership, financial resources, and permitting expertise, we are confident in the enhanced ability to accelerate exploration efforts at Sakami and beyond. This combination validates the work accomplished to date and positions the assets for meaningful advancement, offering significant upside potential in today’s supportive gold market.”

Trading of the QPM Shares on the TSX Venture Exchange (the “TSXV”) has been halted and will remain halted until the QPM Shares have been delisted from the TSXV, which is expected to be on or approximately by April 30, 2025. The QPM Shares will also be delisted from the Frankfurt Stock Exchange. Following the delisting, QPM intends to submit an application to the applicable securities regulators in Canada to cease to be a reporting issuer. 

In connection with the Arrangement, Fury will file a report on its SEDAR+ profile at www.sedarplus.ca pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues containing additional information respecting the foregoing matters. A copy of such report may be obtained by contacting Margaux Villalpando, Investor Relations of Fury at (844) 601-0841. 

McMillan LLP is acting as Canadian legal advisor to Fury and BCF Business Law is acting as Canadian legal counsel to QPM in connection with the Arrangement.

About Fury Gold Mines Limited

Fury Gold Mines Limited is a Canadian-focused exploration company positioned in two prolific mining regions across the country and holds an approximate 12.8 million common share position in Dolly Varden Silver Corp. (approximately 16% of issued shares). Led by a management team and board of directors with proven success in financing and advancing exploration assets, Fury intends to grow its multi-million-ounce gold platform through rigorous project evaluation and exploration excellence. 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, visit  www.furygoldmines.com.

About Quebec Precious Metals Corporation

QPM has a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Dhilmar Ltd’s Éléonore gold mine (formerly owned by Newmont Corporation). QPM focuses on advancing its Sakami gold project and its newly discovered, drill-ready Ninaaskuwin lithium showing on the Elmer East project. In addition, QPM holds a 68% interest in the Kipawa rare earths project located near Temiscaming, Quebec.

Neither the TSX nor its Regulations Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this news release.

For further information on Fury Gold Mines Limited, please contact:

Margaux Villalpando, Investor Relations
Tel: (844) 601-0841
Email: info@furygoldmines.com
Website: www.furygoldmines.com 

For more information about QPM, please contact: 

Normand Champigny, Chief Executive Officer 
Tel.: (514) 979-4746
Email: nchampigny@qpmcorp.ca

Cautionary Statements

The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to, or for the account or the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events. These particularly pertain to statements with respect to remarks with respect to the potential of the combined companies and recently acquired properties and QPM obtaining the necessary approvals and delisting from the TSXV and the Frankfurt Stock Exchange and to cease to be a reporting issuer in Canada.

Fury and QPM have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information including but not limited to those arising from general economic conditions; adverse industry events; volatility in commodity prices; future legislative and regulatory developments; and other risks described in our recent securities filings available at www.sedarplus.ca.

There may also be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place heavy reliance on forward-looking information. Neither Fury nor QPM undertake to update any forward-looking information except in accordance with applicable securities laws.

No regulatory authority has approved the contents of this news release.

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MONTREAL and TORONTO, Canada – April 22, 2025 – Fury Gold Mines Limited (TSX: FURY, NYSE American: FURY) (“Fury”) and Quebec Precious Metals Corporation (TSXV: QPM, FSE: YXEP) (“QPM”) are pleased to announce that, at the special meeting (the “Meeting”) of holders (“QPM Shareholders”) of common shares of QPM (the “QPM Shares”) held today, QPM Shareholders overwhelmingly voted in favour of the special resolution (the “Arrangement Resolution”) to approve the previously announced plan of arrangement (the “Arrangement”) under Section 192 of the Canada Business Corporations Act with Fury Gold Mines Ltd. (“Fury Gold”) pursuant to which Fury Gold will acquire all of the issued and outstanding QPM Shares in exchange for 0.0741 of a Fury Gold common share (each whole common share of Fury Gold, a “Fury Gold Share”) for each QPM Share. Based on the 20-day volume weighted average price of the QPM Shares on the TSX Venture Exchange (“TSXV”) and the Fury Gold Shares on the TSX as of February 25, 2025, the consideration payable by Fury Gold implies a value of C$0.04 for each QPM Share. Further, each (i) option to purchase a QPM Share (an “Option”), (ii) warrant to purchase a QPM Share (a “Warrant”), and (iii) option to purchase a QPM Share granted to certain QPM intermediaries and brokers (a “Broker Option” and collectively with the Options and Warrants, the “Convertible Securities”) outstanding immediately prior to completion of the Arrangement will, upon the holder’s exercise of the applicable Convertible Securities, entitle such holder to receive (and such holder will accept) Fury Gold Shares in lieu of the QPM Shares to which such holder was entitled upon such exercise, and for the same aggregate consideration payable therefore.

Holders of a total of 50,449,020 QPM Shares were present virtually or represented by proxy at the Meeting, which constituted a quorum of Shareholders, and represented 48.67 % of the 103,646,498 issued and outstanding QPM Shares entitled to vote as of March 17, 2025, the record date for the Meeting. 

The Arrangement Resolution required the approval of: (i) at least two thirds (66⅔%) of the votes cast by the QPM Shareholders present virtually or represented by proxy at the Meeting; and (ii) a simple majority of the votes cast by QPM Shareholders present virtually or represented by proxy at the Meeting after excluding the votes cast by certain persons whose votes were required to be excluded pursuant to Multilateral Instrument 61- 101 – Protection of Minority Security Holders in Special Transactions
(“MI 61-101”).

Of the votes cast at the Meeting, 88.72 % of the votes cast by QPM Shareholders were in favour of the Arrangement Resolution (88.77 % after excluding the votes cast by those persons whose votes were required to be excluded in determining minority approval for the Arrangement pursuant to MI 61-101).

QPM will seek a final order (the “Final Order”) of the Superior Court of Québec (the “Court”) to approve the Arrangement on April 25, 2025. Completion of the Arrangement is subject to the satisfaction of customary closing conditions for a transaction of this nature, including receipt of the Final Order. Subject to the satisfaction (or waiver) of the conditions precedent, it is expected that the Arrangement will be completed on or about April 28, 2025. Following completion of the Arrangement it is expected that QPM Shares will be delisted from the TSXV and the Frankfurt Stock Exchange. 

About Fury Gold Mines Limited

Fury Gold Mines Limited is a Canadian-focused exploration company positioned in two prolific mining regions across the country and holds an approximate 51 million common share position in Dolly Varden Silver Corp. (approximately 16% of issued shares). Led by a management team and board of directors with proven success in financing and advancing exploration assets, Fury intends to grow its multi-million-ounce gold platform through rigorous project evaluation and exploration excellence. 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, visit  www.furygoldmines.com.

About Quebec Precious Metals Corporation

QPM has a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Dhilmar Ltd.’s (formerly owned by Newmont Corporation) Éléonore gold mine. QPM focuses on advancing its Sakami gold project and its newly discovered, drill-ready Ninaaskumuwin lithium showing on the Elmer East project. In addition, QPM holds a 68% interest in the Kipawa rare earths project located near Temiscaming, Quebec.

For further information on Fury Gold Mines Limited, please contact:

Margaux Villalpando, Investor Relations
Tel: (844) 601-0841
Email: info@furygoldmines.com 
Website: www.furygoldmines.com

For more information about QPM, please contact: 

Normand Champigny, Chief Executive Officer 
Tel.: (514) 979-4746
Email: nchampigny@qpmcorp.ca
Website: www.qpmcorp.ca 

Forward-Looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events. These particularly pertain to the outlook for completion of the proposed transaction and synergies that might arise from it.

Although Fury and QPM have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information including the uncertainty of the shareholder and regulatory approval process the two companies face and many other risks described in our recent securities filings available at www.sedarplus.ca. 

There may also be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place heavy reliance on forward-looking information. Neither Fury nor QPM undertake to update any forward-looking information except in accordance with applicable securities laws.

No regulatory authority has approved the contents of this news release.

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Quebec, QC, April 9, 2025 – The Cree Trappers Association (“CTA”), the Cree Hunters Economic Security Board (“CHESB”), and 16 mining and exploration companies (the “Companies”) are pleased to announce that they have approved the 2025 funding to continue the reconstruction of the cabins burnt by the wildfires in 2023 in the Eeyou Istchee James Bay territory of Quebec, Canada. On October 31, 2024, the CHESB and the Companies had announced their voluntary financial contribution totalling $750,000 for the Reconstruction Initiative Forest Fires Fund 2023 (“RIFFF”). 

In 2024, the CTA launched a cabin replacement program in collaboration with the Niskamoon Corporation, the Cree Nation Government and the Eenou-Eeyou Community Foundation to construct replacement cabins for Cree hunters and trappers who occupy Cree land. A total of 50 cabins were rebuilt. Funding provided by the CHESB ($ 400,000) and the Companies ($ 200,000) will be used to continue the cabin rebuild process in 2025. Additional funding will be provided in 2026.

Allan House, Chief Financial Officer at the CTA says: “We sincerely appreciate the outpouring of support from different companies with our cabin rebuild project. Our people will continue to occupy our lands by providing them warm new cabins, and we have the desire to help those in need, and rebuilding has been our priority, Thank you.”

Serge Larivière, Director General of the CHESB says: “The mission of our organization is to support Cree hunters who choose harvesting activities as a way of life. But in order to do so, Cree hunters need a comfortable place to stay, a base camp that is located within the territory. Reconstructing burnt cabins is the first step in helping hunters return rapidly to their traditional activities on the land! This is why our Board was quick to offer financial support for this important initiative!”

Normand Champigny, Chief Executive Officer of Quebec Precious Metals Corporation and who leads this initiative for the Companies says: “On behalf of the contributing companies, we are delighted to see this initial funding being deployed to assist with the cabins rebuild. We are committed to provide funding in 2026 and seek additional funding from other companies including services suppliers to the exploration and mining industry that operate in the Eeyou Istchee James Bay territory.”

About the CTA

The CTA’s mandate and responsibility consist in protecting and promoting the interests and values of Eeyou/Eenou trappers, traditional pursuits, and governance of hunting territories in Eeyou Istchee. This mandate extends to the management of territory and wildlife resources and of environmental matters. The main goal of the CTA is to foster, promote, protect and assist in preserving the way of life, values, activities and traditions of the Eeyou/Eenou trappers of Quebec and to safeguard the traditional system of Eeyou/Eenou traplines.

About the CHESB

The CHESB  is a bipartisan organization composed of six members, three of whom are appointed by the government of Quebec and three by the Cree Nation Government. The CHESB’s mission is to administer the Economic Security Program for Cree Hunters, which was established in 1975 following the signing of the James Bay and Northern Quebec Agreement. The program is intended for Crees residing in Quebec who practice wildlife harvesting activities as a way of life.

About the RIFFF

The RIFFF is a partnership between the CHESB, the Companies and the Eeyou Istchee James Bay communities. The RIFFF will allow, starting in 2025, the reconstruction of burnt cabins and complement the work underway by the CTA on the most impacted traplines. According to the information collected by CNG Forestry, 11% of the land and nearly 60% of the traplines were affected by the 2023 forest fires.

The Companies are:

Austroid Corporation
Bonterra Resources Inc.
Champion Electric Metals Inc.
Critical Elements Lithium Corporation
Cygnus Metals Ltd.
Dhilmar Éléonore
Fury Gold Mines Limited
Gold Fields Limited
Harfang Exploration Inc.
Midland Exploration Inc.
Patriot Battery Metals
Power Metallic Mines Inc.
Quebec Precious Metals Corporation
Rio Tinto Exploration Canada
Sirios Resources Inc.
Troilus Gold Corporation

For more information please contact: 

Allan A. House, Chief Financial Officer/Interim Chief Executive Officer
allanhouse@ctaoffice.ca
Cree Trappers Association
819-743-9451

Serge Larivière, Director General, Cree Hunters  Economic Security Board
Serge.Lariviere@chasseurcri.ca
418-643-7300

Normand Champigny, Chief Executive Officer, Quebec Precious Metals Corporation
nchampigny@qpmcorp.ca
514-979-4746

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MONTREAL and TORONTO, Canada – March 26, 2025 – Fury Gold Mines Limited (TSX: FURY, NYSE American: FURY) (“Fury”) and Quebec Precious Metals Corporation (TSXV: QPM, FSE: YXEP) (“QPM”) are pleased to announce that, following the February 26, 2025, announcement of the arrangement agreement (see news release dated February 26, 2025), the acquisition of QPM is moving forward on schedule with an anticipated completion prior to April 30, 2025. QPM has now secured the required no-objection letter from Corporations Canada as well as the interim order from the Quebec Superior Court in connection with convening the QPM shareholders meeting scheduled for April 22, 2025. 

Fury has secured the conditional approval of the TSX and NYSE American. QPM’s shareholder meeting circular has been filed at www.sedarplus.ca, and provides details of the merger as well as updated information about Fury including disclosure of a non-cash impairment charge expected to be effective December 31, 2024, to align the carrying value of Fury’s mineral properties to its prevailing market capitalization. As well Fury announces that director Isabelle Cadieux has resigned from the Fury Board of Directors to pursue other opportunities. Fury thanks Ms. Cadieux for her service over the last 18 months.

QPM Precious and Critical Minerals Project Portfolio:

Gold and Lithium:

QPM holds a highly prospective land package covering approximately 70,900 hectares largely within the emerging James Bay gold camp. The road-accessible Sakami project is host to a 23 kilometre (km) long gold-bearing structural corridor. Drilling to date at the La Pointe and La Pointe Extension targets within this trend has identified gold mineralization across widths of up to 75 m and to a depth of up to 500 m with reported intercepts of 2.51 g/t gold (Au) over 54.65 m from drill hole EX-10; 9.22 g/t Au over 12.55 m from drill hole EX-19 and 2.52 g/t Au over 48.55 m from drill hole PT-16-92. The identified gold mineralization at both La Pointe and La Pointe Extension remains open to depth and along strike. Further south along the same gold-bearing structure lies an intriguing undrilled coincident gold in soil geochemical anomalies and Induce Polarization (IP) geophysical chargeability anomaly with similar signature to the La Pointe and La Pointe Extension targets. 

The Elmer East project is host to an undrilled 4.2 km long east–west oriented gold and base metal bearing structural trends known as the Lloyd showing where grab samples have returned results of up to 68.10 g/t gold, 7.99% Zinc and 7,660 ppm Copper. 

Spodumene bearing pegmatites have been identified throughout the QPM land package with a recently completed drilling campaign at the Ninaaskumuwin project where +20 m spodumene bearing pegmatites with vertical continuity of up to 150 m were intercepted in drilling late 2024 (analytical results are pending at this time). 

Rare Earths

The Heavy Rare Earth Elements (HREE) Kipawa project (68% QPM, 32% Investissement Québec),
50 km east of Temiscaming in southwestern Quebec, is host to a historical 2013 Proven and Probable reserves of 19.8 million tonnes grading 0.411% total rare earth oxides (TREO). The road accessible project covers an area of 4,300 hectares with good access to local infrastructure. 

Normand Champigny, Eng., CEO and Director of QPM, is a qualified person within the meaning of National Instrument 43-101 on standards of disclosure for mineral projects. He has reviewed and approved the technical information contained in this press release. 

About Fury Gold Mines Limited

Fury Gold Mines Limited is a Canadian-focused exploration company positioned in two prolific mining regions across the country and holds an approximate 51 million common share position in Dolly Varden Silver Corp. (approximately 16% of issued shares). Led by a management team and board of directors with proven success in financing and advancing exploration assets, Fury intends to grow its multi-million-ounce gold platform through rigorous project evaluation and exploration excellence. 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, visit  www.furygoldmines.com.

About Quebec Precious Metals Corporation

QPM has a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Dhilmar Ltd.’s (formerly owned by Newmont Corporation) Éléonore gold mine. QPM focuses on advancing its Sakami gold project and its newly discovered, drill-ready Ninaaskuwin lithium showing on the Elmer East project. In addition, QPM holds a 68% interest in the Kipawa rare earths project located near Temiscaming, Quebec.

For further information on Fury Gold Mines Limited, please contact:

Margaux Villalpando, Investor Relations
Tel: (844) 601-0841
Email: info@furygoldmines.com 
Website: www.furygoldmines.com

For more information about QPM, please contact: 

Normand Champigny, Chief Executive Officer 
Tel.: (514) 979-4746
Email: nchampigny@qpmcorp.ca
Website: www.qpmcorp.ca 

Forward-Looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events. These particularly pertain to the outlook for completion of the proposed Transaction and synergies that might arise from it.

Although Fury and QPM have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information including the uncertainty of the shareholder and regulatory approval process the two companies face and many other risks described in our recent securities filings available at www.sedarplus.ca. 

There may also be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place heavy reliance on forward-looking information. Neither Fury nor QPM undertake to update any forward-looking information except in accordance with applicable securities laws.

No regulatory authority has approved the contents of this news release.

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MONTREAL and TORONTO, Canada – February 26, 2025 – Fury Gold Mines Limited (TSX: FURY, NYSE American: FURY) (“Fury”)and Quebec Precious Metals Corporation (TSXV: QPM, FSE: YXEP, OTC-BB: CJCFF) (“QPM”)  are pleased to announce that they have entered into an arrangement agreement on February 25, 2025 (the “Arrangement Agreement”), pursuant to which Fury has agreed to acquire all of the issued and outstanding common shares of QPM, in exchange for common shares of Fury by way of a plan of arrangement (the “Transaction”). The Transaction will create a combined company that consolidates a prospective gold and critical minerals exploration portfolio totalling over 157,000 hectares in Quebec. Further details of the Transaction are outlined below.

Transaction Highlights:

• Deliver increased scale and enhanced diversification with the addition of several prospective gold and critical minerals exploration assets located in Quebec.

• Provide synergy and cost savings with Fury’s board and management team with a track record of capital raising, discovery, exploration success, and community engagement leading the combined company.

• The holders of the issued and outstanding QPM Shares will receive 0.0741 Fury Shares for each one (1) QPM Share held (the “Exchange Ratio”).

• The Exchange Ratio implies a price of C$0.04 per QPM Share and a premium of approximately 33% based on the closing prices of Fury and QPM on February 25, 2025.

The QPM project portfolio compliments Fury’s project pipeline in a region where Fury is extremely active. The flagship Sakami project has seen nearly 50,000 metres (m) of drilling with gold mineralization identified within two zones, La Pointe and La Pointe Extension, along the boundary between the Opinaca and the La Grande Geological sub-Provinces. In 2025, Fury intends to rapidly advance targets at Sakami to the drilling stage following a reinterpretation of the geology and geophysics paired with systematic geochemical sampling. 

Tim Clark, CEO of Fury, commented: “This Transaction is an exciting opportunity given it doubles Fury’s land package in the Eeyou Istchee territory in the James Bay Region of Quebec and unites complementary assets, teams, and investor bases which should ultimately increase shareholder value at both companies. Combining QPM’s gold and critical minerals portfolio of exploration projects with Fury’s projects and strong balance sheet will not only help improve cost efficiency but also add to the potential for new discoveries.” 

Normand Champigny, CEO and Director of QPM, commented: “We are very pleased to be entering this combination with Fury. By combining with Fury, QPM’s shareholders will benefit from the synergies and cost savings of leveraging the combined company’s excellent management team for funding and obtaining required permits to continue drilling at Sakami. We believe that the Transaction with Fury offers for QPM shareholders a high potential for share price appreciation in the current gold market environment. The Transaction demonstrates the progress made with our exploration work to date. Fury has the ability to rapidly advance our assets to identify a large gold mineral resource.”

QPM Precious and Critical Minerals Project Portfolio:

Gold and Lithium:

QPM holds a highly prospective land package covering approximately 70,900 hectares largely within the emerging James Bay gold camp. The road-accessible Sakami project is host to a 23 kilometre (km) long gold-bearing structural corridor. Drilling to date at the La Pointe and La Pointe Extension targets within this trend has identified gold mineralization across widths of up to 75 m and to a depth of up to 500 m with reported intercepts of 2.51 g/t gold (Au) over 54.65 m from drill hole EX-10; 9.22 g/t Au over 12.55 m from drill hole EX-19 and 2.52 g/t Au over 48.55 m from drill hole PT-16-92. The identified gold mineralization at both La Pointe and La Pointe Extension remains open to depth and along strike. Further south along the same gold-bearing structure lies an intriguing undrilled coincident gold in soil geochemical anomalies and Induce Polarization (IP) geophysical chargeability anomaly with similar signature to the La Pointe and La Pointe Extension targets. 

The Elmer East project is host to an undrilled 4.2 km long east–west oriented gold and base metal bearing structural trends known as the Lloyd showing where grab samples have returned results of up to 68.10 g/t gold, 7.99% Zinc and 7,660 ppm Copper. 

Spodumene bearing pegmatites have been identified throughout the QPM land package with a recently completed drilling campaign at the Ninaaskumuwin project where +20 m spodumene bearing pegmatites with vertical continuity of up to 150 m were intercepted in drilling late 2024 (analytical results are pending at this time). 

Rare Earths

The Heavy Rare Earth Elements (HREE) Kipawa project (68% QPM, 32% Investissement Québec),
50 km east of Temiscaming in southwestern Quebec, is host to a historical 2013 Proven and Probable reserves of 19.8 million tonnes grading 0.411% total rare earth oxides (TREO). The road accessible project covers an area of 4,300 hectares with good access to local infrastructure. 

Transaction Details

Pursuant to the terms and conditions of the Arrangement Agreement, the holders of the issued and outstanding QPM Shares will receive 0.0741 Fury Shares for each one (1) QPM Share held (the “Exchange Ratio”). QPM stock options and warrants that are outstanding at the time of completion of the Transaction will become exercisable for Fury Shares on substantially the same terms and conditions, with the number of Fury Shares issuable on exercise and the exercise price adjusted in accordance with the Exchange Ratio. The Transaction will be carried out by way of a court-approved plan of arrangement under the Canada Business Corporations Act.

The Exchange Ratio implies a price of C$0.04 per QPM Share and a premium of approximately 33% based on the closing prices of Fury and QPM on February 25, 2025 and a premium of approximately 28% based on the 20-day volume weighted average prices of Fury Shares and QPM Shares as of February 25, 2025. Upon completion of the Transaction, existing Fury and QPM shareholders would own approximately 95% and 5% of the combined company, respectfully, on an undiluted basis.

Upon completion of the Transaction, Fury will continue to be listed on the TSX and NYSE American under the same Fury name and ticker symbol. The Arrangement Agreement contains customary deal-protection provisions including a non-solicitation covenant on the part of QPM and a right for Fury to match any Superior Proposal (as defined in the Arrangement Agreement). Under certain circumstances, either Fury or QPM would be entitled to a termination fee of C$0.2 million.

Principal Conditions to Completion

The completion of the Transaction is subject to a number of terms and conditions, including without limitation the following: (a) approval of a special majority of the QPM shareholders, as described below; (b) acceptance of the relevant stock exchanges (TSX, NYSE American and TSX Venture Exchange (TSXV)); (c) approval of the Quebec Superior Court; (d) there being no material adverse changes in respect of either Fury or QPM; and other standard conditions of closing for a transaction of this nature. There can be no assurance that all of the necessary approvals will be obtained or that all conditions of closing will be satisfied.

The Transaction is subject to the approval at a special meeting of QPM shareholders by (i) 66 2/3% of the votes cast by QPM shareholders, and (ii) a simple majority of the votes cast by the QPM shareholders, excluding the votes cast by certain persons as required by Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions. Fury and QPM are arm’s length parties and, accordingly, the Transaction is not expected to be a related party transaction. However, certain insiders of QPM will, as a condition to completion, agree to convert certain liabilities into shares of Fury to be issued upon completion of the Transaction. No finder’s fees are being paid in connection with the Transaction. Officers and directors along with certain key shareholders and insiders of QPM who collectively control 17% of the QPM Shares on an undiluted basis have entered into voting and support agreements pursuant to which they have agreed to vote their shares in favour of the Transaction.

None of the securities to be issued pursuant to the Arrangement Agreement have been or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and any securities issued in the Arrangement are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.

Board of Directors and Management

Upon closing of the Transaction, the board of directors of Fury will remain unchanged to lead the combined management and project teams. The head office will continue to be in Toronto, Canada. Normand Champigny will be appointed as a strategic advisor to Fury and Fury’s representative for the Kipawa project.

Transaction Timeline

Pursuant to the Arrangement Agreement and subject to satisfying all necessary conditions and receipt of all required approvals, the parties anticipate completion of the Transaction by the end of April 2025. An Information Circular will be sent to QPM shareholders in March and filed at www.sedarplus.com in furtherance of the required QPM shareholders meeting which circular will contain all material details about the Transaction. The Transaction is not subject to approval by the shareholders of Fury. Following completion of the Transaction, QPM Shares will be delisted from the TSXV and QPM will cease to be a reporting issuer under Canadian securities laws.

Recommendations by the Boards of Directors

After consultation with its legal advisors, the board of directors of Fury unanimously approved entering into the Arrangement Agreement. After consultation with its legal advisors, the board of directors of QPM unanimously approved entering into the Arrangement Agreement and unanimously recommended that QPM shareholders vote in favour of the Transaction.

Counsel and Advisor

McMillan LLP is acting as legal counsel to Fury. BCF Business Law are acting as legal counsel to QPM. Evans and Evans Inc. has provided a fairness opinion to the QPM Board confirming that, in Evans and Evans’ view, the Transaction is, from a financial point of view, fair to QPM Shareholders.

Normand Champigny, Eng., CEO and Director of QPM, is a qualified person within the meaning of National Instrument 43-101 on standards of disclosure for mineral projects. He has reviewed and approved the technical information contained in this press release. 

About Fury Gold Mines Limited

Fury Gold Mines Limited is a Canadian-focused exploration company positioned in two prolific mining regions across the country and holds an approximate 51 million common share position in Dolly Varden Silver Corp. (approximately 16% of issued shares). Led by a management team and board of directors with proven success in financing and advancing exploration assets, Fury intends to grow its multi-million-ounce gold platform through rigorous project evaluation and exploration excellence. 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, visit  www.furygoldmines.com.

About Quebec Precious Metals Corporation

QPM has a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation’s Éléonore gold mine. QPM focuses on advancing its Sakami gold project and its newly discovered, drill-ready Ninaaskuwin lithium showing on the Elmer East project. In addition, QPM holds a 68% interest in the Kipawa rare earths project located near Temiscaming, Quebec.

Neither the TSX nor its Regulations Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this news release.

For further information on Fury Gold Mines Limited, please contact:

Margaux Villalpando,
Investor Relations
Tel: (844) 601-0841
Email: info@furygoldmines.com 
Website: www.furygoldmines.com

For more information about QPM, please contact: 

Normand Champigny,
Chief Executive Officer 
Tel.: (514) 979-4746
Email: nchampigny@qpmcorp.ca

 Forward-Looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events. These particularly pertain to the outlook for completion of the proposed Transaction and synergies that might arise from it.

Although Fury and QPM have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information including the uncertainty of the shareholder and regulatory approval process the two companies face and many other risks described in our recent securities filings available at www.sedarplus.ca. 

There may also be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place heavy reliance on forward-looking information. Neither Fury nor QPM undertake to update any forward-looking information except in accordance with applicable securities laws.

No regulatory authority has approved the contents of this news release.

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Montreal, January 17, 2025 – Quebec Precious Metals Corporation (TSX.V: QPM, FSE: YXEP, OTC-BB: CJCFF) (“QPM”) is pleased to announce that it has received a payment of $200,000 plus other valuable consideration from International Explorers and Prospectors Inc. (“IEP”) in connection with the sale to IEP of its 50% undivided interest in certain mining rights forming part of the Matheson Township mining property located in the Province of Ontario.

About Quebec Precious Metals Corporation

QPM has a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation’s Éléonore gold mine. The Corporation focuses on advancing its Sakami gold project and its newly discovered, drill-ready Ninaaskuwin lithium showing on the Elmer East project. In addition, the Corporation holds a 68% interest in the Kipawa rare earths project located near Temiscaming, Quebec.

For more information please contact: 

Normand Champigny
Chief Executive Officer
Tel.: 514 979-4746
nchampigny@qpmcorp.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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Montreal, November 26, 2024 – Quebec Precious Metals Corporation (TSX.V: QPM, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Corporation”) is pleased to announce that it recently completed the maiden drilling campaign totalling 825 m in 5 holes on its Ninaaskumuwin project in the Eeyou Istchee James Bay region of Quebec, Canada (see press releases dated October 21, 2024 and October 30, 2024).

Highlights (Table 1, Figures 1, 2 and 3)

• +20 m thick spodumene-bearing pegmatite was intersected in three holes with visually estimated spodumene ranging from 3 to 50%;
  
• These holes confirm the vertical continuity up to 150 m deep of the mineralized pegmatite dipping -57 degrees to the north; and
  
• This maiden drill program demonstrates that the pegmatite body remains open along strike and to depth and more drilling will be required to more precisely determine its geometry and extension. 

The drilling campaign’s main objective was to test the extension at depth and along the strike of the discovery outcrop and the presence of potential stacked sills. Assay values from the nine samples from the discovery outcrop range from 1.10% to 3.92% Li₂O. 

The five holes intersected highly fractionated pegmatite dyke(s). The pegmatite dyke intersected in the first three holes were mineralized in spodumene. The spodumene is concentrated almost continuously throughout the width of the dyke. The pegmatite dykes were systematically sampled and sent for assay and metallurgical testing (assay pending). 

The pegmatite is composed essentially of quartz, plagioclase, potassic feldspar and spodumene with lesser proportion of muscovite, tourmaline and garnet. The spodumene is light greenish-white colour and occurs as large and elongated crystals averaging 2 x 5 cm and up to 2 x 15 cm. A portion of the pegmatite shows albite alteration in which spodumene is concentrated in bands of fine-grained crystals. The pegmatite is hosted in metasedimentary units, mainly matrix-supported conglomerate in alternance with wacke and coarse-grained sandstone.

“We are very pleased with the results of this first drill program. We look forward to seeing the assay results and to plan the next phase of drilling.” commented Normand Champigny, CEO.

The Ninaaskumuwin lithium prospect is easily accessible from the paved Billy Diamond highway located about 60 km north of the ‘km 381’ rest stop that can provide accommodation, catering, fuel and power. It is also about 50 km north of the Galaxy project, which is being acquired by Rio Tinto plc as part of their recently announced acquisition of Arcadium Lithium plc for USD 6.7 billion.

GeoVector Management Inc., based in Ottawa, supervised the drilling program, which includes core logging and sampling of the drill core. The QAQC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results. Drilling was performed by RJLL Drilling, based in Rouyn-Noranda.

Qualified Persons

Normand Champigny, Eng., Chief Executive Officer of the Company, and Dr. Éric Hebert, P.Geo., Senior Geological consultant, member (#0842) of the Ordre des Géologues du Québec, are both qualified persons within the meaning of National Instrument 43-101 on standards of disclosure for mineral projects. They have reviewed and approved the technical information contained in this press release. 

About Quebec Precious Metals Corporation

QPM has a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation’s Éléonore gold mine. The Corporation focuses on advancing its Sakami gold project and its newly discovered, drill-ready Ninaaskuwin lithium showing on the Elmer East project. In addition, the Corporation holds a 68% interest in the Kipawa rare earths project located near Temiscaming, Quebec.

For more information please contact: 

Normand Champigny
Chief Executive Officer
Tel.: 514 979-4746
nchampigny@qpmcorp.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This release includes forward-looking statements. Often, but not always, forward-looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may include, without limitation statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production output.

Forward-looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of resources or reserves, political and social risks, changes to the regulatory framework within which the entity operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation. 

Forward-looking statements are based on the entity and its management’s good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect business and operations in the future. There are no assurances that the assumptions on which forward-looking statements are based will prove to be correct, or that the business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the entity or management or beyond the entity’s control. 

Although there have been attempts to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward-looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be anticipated, estimated or intended, and many events are beyond the reasonable control of the entity. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements. 

Forward-looking statements in this release are given as at the date of issue only. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the entity does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.

Table 1 – Summary of drillhole coordinates from the fall 2024 program, Elmer East project – Press release of November 26, 2024

Hole #	UTM E	UTM N	Total depth (m)	Azimuth (o)	Dip (o)	Numbers of samples	From (m)	To (m)	Length (m)	Lithology
EE24-001	342766.2	5827997	165.11	140	-60	29	127.95	150.85	22.90	Pegmatite
EE24-002	342839.3	5827977	125.85	140	-55	28	72.80	95.28	22.48	Pegmatite
EE24-003	342839.8	5827978	140.92	140	-75	39	88.60	120.95	32.35	Pegmatite
EE24-004	342974.9	5828041	191.82	140	-60	23	100.72	104.65	3.93	Pegmatite
EE24-004							122.00	125.70	3.70	Pegmatite
EE24-004							144.05	147.75	3.70	Pegmatite
EE24-005	342931.6	5828022	201	140	-60	7	100.82	100.92	0.10	Pegmatite
EE24-005							103.37	103.81	0.44	Pegmatite

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Montreal, November 7, 2024 – Quebec Precious Metals Corporation (TSX.V: QPM, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Corporation”) announces that an aggregate of 221,165 common shares will be issued in settlement of services of three current directors of the Corporation in an aggregate amount of $19,462.52, as per the shares for services agreements entered with three current directors (the “Shares for Services Arrangement”) (see press release dated June 21, 2024). The services are paid in connection with services rendered by three current directors during the third quarter of the financial year ending January 31, 2025.

The Board of Directors and Management of QPM believes that the Shares for Services Arrangement is in the best interests of QPM as it will help the Corporation preserve its cash position.

The common shares to be issued pursuant to the Shares for Services Arrangement will be issued at a deemed price of $0.088 per share and will be subject to a four-month hold period pursuant to applicable securities regulations and the policies of the TSX Venture Exchange (the “TSXV”).

The Shares for Services Arrangement is considered a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Shares for Services Arrangement will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as QPM’s securities are not listed on any stock exchange identified in Section 5.5(b) of MI 61-101 and neither the fair market value of the common shares to be issued in the Shares for Services Arrangement nor of the services provided in connection with the debts which are the subject of the Shares for Services Arrangement shall exceed 25% of QPM’s market capitalization. 

Deferred shares units

The Company announces the issuance of 107,955 deferred stock units (the “DSUs”) to the Chief Executive Officer pursuant to its Deferred Share Unit Plan (the “DSU Plan”). This follows the decision that from May 1, 2022, the CEO’s salary compensation will be paid 80% in cash and the other 20% of compensation will be paid in Differed DSUs quarterly. These DSUs represent the portion for the third quarter of 2025. In accordance with the DSU Plan, the DSUs shall vest in accordance with the terms of agreements granting same and one year from the date of such grant, subject to the provisions of TSXV Policy 4.4 and the Company’s security based compensation plan, and are payable in common shares of the Company, or in cash at the sole discretion of the Company, upon the holder ceasing to be an employee of the Company.

About Quebec Precious Metals Corporation

QPM has a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation’s Éléonore gold mine. The Corporation focuses on advancing its Sakami gold project and its newly discovered, drill-ready Ninaaskuwin lithium showing on the Elmer East project. In addition, the Corporation holds a 68% interest in the Kipawa rare earths project located near Temiscaming, Quebec.

For more information please contact:

Normand Champigny
Chief Executive Officer
Tel.: 514 979-4746
nchampigny@qpmcorp.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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Quebec, QC, October 31, 2024 – The Cree Hunters Economic Security Board (“CHESB”), and 16 mining and exploration companies are pleased to announce their voluntary financial contribution totalling $750,000 for the Reconstruction Initiative Forest Fires Fund 2023 (“RIFFF”). The RIFFF has been created for the reconstruction of cabins that were burnt in the aftermath of extensive damage caused by the wildfires in 2023 in the Eeyou Istchee James Bay territory of Quebec, Canada.

The RIFFF is a partnership between the CHESB, the mining industry and the Eeyou Istchee James Bay communities. The RIFFF will allow, starting in 2025, the reconstruction of burnt cabins and complement the work underway by the Cree Trappers’ Association on the most impacted traplines. According to the information collected by CNG Forestry, 11% of the land and nearly 60% of the traplines were affected by the 2023 forest fires.

Normand Champigny, Chief Executive Officer of Quebec Precious Metals Corporation says: “After I flew over the territory where our company explores and saw the devastation caused by the fires, I realized that something had to be done. I am delighted that the CHESB and so many companies have accepted to contribute to this initiative. We hope that many other organizations will contribute.”

Serge Larivière, Director General of the CHESB says all members of the bipartisan Board (Cree-Quebec) are proud to support this initiative: “The heart of Cree traditional activities is the bush cabin – and without a place to stay in the bush, it is difficult for Cree hunters to practice traditional activities. We are proud to join forces and help with the management and funding of this important initiative!”

Allan House, Chief Financial Officer/Interim Chief Executive Officer at the Cree Trappers’ Association says: “Eeyou Culture and Language are strongly connected when our people are out on the lands of Eeyou Istchee. Having a place/home in the heart of Eeyou Istchee is an essential need for our people. Our hunting grounds are our home.”

The CHESB will contribute $400,000 and provide administrative support. Newmont Éléonore will contribute $50,000 and each of the following 15 companies will contribute $20,000.

• Bonterra Resources Inc.
• Brunswick Exploration Inc.
• Champion Electric Metals Inc.
• Critical Elements Lithium Corporation
• Cygnus Metals Ltd.
• Fury Gold Mines Limited
• Harfang Exploration Inc.
• Midland Exploration Inc.
• Patriot Battery Metals
• Power Nickel Inc.
• Quebec Precious Metals Corporation
• Rio Tinto Exploration Canada
• Sirios Resources Inc.
• Troilus Gold Corporation
• Windfall Mining Group (now Gold Fields Limited)

For more information please contact:

Normand Champigny, Chief Executive Officer, Quebec Precious Metals Corporation
nchampigny@qpmcorp.ca
514-979-4746

Serge Larivière, Director General, Cree Hunters  Economic Security Board
Serge.Lariviere@chasseurcri.ca
418-643-7300

Allan A. House, Chief Financial Officer/ Interim Chief Executive Officer
allanhouse@ctaoffice.ca
Cree Trappers’ Association
819-743-9451