Fury Gold Mines : Corporate Presentation – March 2024

EXPLORING FOR HIGH-GRADE GOLD IN CANADA

TSX | NYSE-A: FURY

Investor Presentation

March 2024

Introductory Information

Cautionary Notes

This corporate presentation is intended to provide readers with an overview of Fury Gold Mines Limited (the "Company"). The Company has made reasonable efforts to ensure that the information contained in this presentation is current as of March 20, 2024, however, it is not a prospectus and does not necessarily contain all the information needed to make an investment decision about the Company. As discussed below, this presentation includes a number of estimates and assumptions that are inherently subject to significant exploration, business, economic, regulatory and competitive uncertainties and risks.

Forward-Looking Information

This presentation includes many statements that are "forward-looking" in nature within the meaning of applicable securities laws. These statements relate to many things about the future activities of the Company and factors affecting it. Generally, statements that are not historical facts will likely be forward looking to some degree, and will use terminology such as "plans", "expects", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes". Forward-looking information and statements in this presentation reflects management's current estimates, or expectations regarding these future events and challenges. More specifically, forward-looking information contained in this presentation includes information relating to the outlook for the Company's mineral properties, their exploration potential, and the likely costs of further, exploration and the Company's growth plans. There can be no certainty that such statements will prove to be accurate, and actual results and future events could differ materially from those suggested by such statements. Assumptions, which underlie the forward-looking statements include the Company's ability to raise additional capital to continue with its exploration, and if warranted development plans, its ability to obtain or renew the licenses and permits necessary for its current and future operations; and the Company's assumptions around the impact of the COVID-19 pandemic, the future price of minerals, especially gold; and the success of the Company's exploration activities. Readers should refer to the risks discussed in the Company's Annual Information Form and MD&A for the year ended December 31, 2022 and subsequent continuous disclosure filings with the Canadian Securities Administrators available at www.sedar.com and the Company's Base Shelf Prospectus dated October 12, 2023. The Company's Annual Report on Form 40-F for the year ended December 31, 2022, filed with the United States Securities and Exchange Commission (the "SEC") available at www.sec.gov. Readers should not place heavy reliance on forward-looking statements, which can speak only as of the date made.

Mineral Resource Terminology

This presentation may use "mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource", which are Canadian mineral project disclosure terms as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43- 101"). NI 43-101 references the guidelines set out in the Canadian Institute of Mining ("CIM"), Metallurgy and Petroleum - Definition Standards on Mineral Resources and Mineral Reserves.

United States Mineral Terminology

CIM terms are not considered defined terms under the SEC's mining rules. The SEC has recently adopted amendments to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose securities are registered with the SEC under the United States Securities Exchange Act of 1934, as amended. (the "SEC Modernization Rules"). United States investors are cautioned that there are differences in the definitions under the SEC Modernization Rules and the CIM Definition Standards.

Technical and Scientific Information

The scientific and technical information included herein has been largely derived from the following technical reports prepared in accordance with NI 43-101: (a) the technical report entitled "Technical Report On The Eau Claire Project Quebec, Canada" dated August 30, 2023, with effective date of October 12, 2023, and (b) "Technical Report On The Committee Bay Project, Nunavut Territory, Canada" dated Amended and Restated as of September 11, 2023, with an effective date of October 12, 2023, each of which has been filed with Canadian securities regulatory authorities on SEDAR + (and is available at www.sedarplus.ca) and with the Securities and Exchange Commission on EDGAR (and is available at www.sec.gov).

All disclosure in this presentation of a scientific or technical nature with respect to the Eau Claire Project, based on information arising since the date of the applicable technical report, was reviewed and approved by David Frappier-Rivard, P.Geo, Senior Exploration Manager of the Company, who is a "qualified person" for the purposes of NI 43-101. He has reviewed and approved the technical disclosures in this presentation in relation to all Quebec projects. Bryan Atkinson, P.Geol., SVP of Exploration at Fury, is also a "qualified person" within the meaning of National Instrument 43-101 and has reviewed and approved the technical disclosure in this presentation in relation to the Committee Bay Project. As officers of the Company, Mr. Frappier-Rivard and Mr. Atkinson are not "independent" qualified persons.

Why Own Fury Gold Mines

Leverage to Gold Price

Achieved through ownership of a single junior equity name

One of Strongest Financial Positions in the Sector

Strong balance sheet with C$5.8M cash in treasury and approximately C$45.1M held in equity

Experienced Management Team

Proven operational excellence through successful closing of deals in a difficult market

Properties with Significant Gold Showings Located Next to Major Producers

Unique optionality through multiple projects located in close proximity to major mining companies

* As of March 15, 2024

High-Grade Gold Portfolio in Low-Risk Jurisdictions

Geographically Positioned for Upcoming Consolidation

1. See Eau Claire NI43-101 report "Technical Report On The Eau Claire Project Quebec, Canada" dated August 30, 2023 filed under Fury's profile on SEDAR+. Cut-off grade 0.5 g/t Au open pit cand 3.0 g/t Au underground.
2. See Committee Bay NI43-101 report "Technical Report On The Committee Bay Project, Nunavut Territory, Canada" dated September 11, 2023 filed under Fury's profile on
   SEDAR+. Cut-off grade 3.0 g/t Au open pit and 4.0 g/t Au underground.

Meaningful Ownership Position in Dolly Varden Silver

Financial Flexibility Gained Through the Sale of Homestake Ridge

Indirect Exposure to BC's

Golden Triangle

Fury owns 54M shares currently valued at C$42.4M*

Dolly Varden Ownership (Approximate): 19.99%

* As of March 15, 2024

Éléonore South JV

Fury purchased Newmont's 49% for C$3M, increasing Fury's ownership to 100% interest of Éléonore South

Purchase closed on March 1, 2024

Éléonore South - 100% Ownership

Highly Prospective Early-Stage Gold Exploration

Large scale high-grade untested gold in till anomalies ripe for new discovery Two distinct styles of mineralization identified to date

Éléonore South Exploration Potential

Cheechoo Tonalite

Road Accessible High-Grade Gold Resource

Eeyou Istchee James Bay Region of Quebec