Fury reports 6.0% Li2O5 concentrate, 77% recovery from Ninaaskumuwin

TORONTO, June 23, 2026 (GLOBE NEWSWIRE) -- Fury Gold Mines Limited (TSX and NYSE American: FURY) (“Fury” or the “Company”) is pleased to announce the final metallurgical test results on its Ninaaskumuwin lithium discovery (the “Discovery” ) located on the Elmer East project, in the Eeyou Istchee James Bay Territory of Northern Quebec. The objective of the metallurgical test work was to characterize the mineralogy and metallurgical properties of the spodumene-bearing pegmatite intercepted in drilling. Preliminary test work based on an initial drilling program on the Discovery indicated that work was warranted (see press releases dated July 9, 2025 and July 22, 2025).

Test Results Highlights Analyzed 85 samples contain up to 42% spodumene; Sample grades range from 0.02% to 3.71% Li₂O and from 0.36% to 6.30% Fe₂O₃; Spodumene is the only identified lithiferous mineral and the intercepted pegmatite is free of impurities, suggesting the potential for producing lithium concentrates suitable for manufacturing lithium carbonate and lithium hydroxide for batteries; and Tests carried out demonstrated the feasibility of producing a Direct Shipping Ore (“ DSO ”) concentrate grading 6.024% Li₂O₅ while recovering 76.66% of the lithium in 22.97% of the mass, through a single Dense Media Separation (“ DMS ”) step applied to the coarsest crushed feed. This result is very promising and suggests a selective exploration and mining approach. “We are very encouraged by the strong metallurgical results achieved, which demonstrate the potential of the mineralization to respond well to conventional processing methods,” commented Tim Clark, CEO of Fury. “We look forward to identifying opportunities to unlock val