Sakami

Overview 

Fury holds a 100% interest in the Sakami gold project, located in the Eeyou Istchee Territory within the James Bay region of Northern Quebec. The project is located approximately 130km southeast of the closest town of Radisson and 500km north of Matagami. Sakami is in the James Bay gold mining camp where the Éléonore gold mine is operated by Dhilmar Ltd. The property consists of several peninsulas and islands in the centre of the Sakami Reservoir.

Project Highlights

• District-scale gold system: Covers approx.14,250 ha. along a 23 km gold-bearing structural corridor at the La Grande–Opinaca contact in northern Québec.
• Initial Mineral Resource Estimate (MRE): 23.9 million tonnes grading 1.07 grams per tonne gold, for 825,000 ounces (see Table 1 below). See press release dated December 8, 2025.
• Near Surface: All of Sakami’s mineral resource estimate are projected to be in-pit within 400 metres of surface.
• Resource growth potential: Resource remains open in all directions. Immediate opportunity to expand the MRE to the northeast and southwest as well as below the current open pit extents where drilling is limited to within 175 metres of surface.

Geology

Gold mineralization at Sakami is hosted in a structurally-controlled setting along the major deformation zone separating the Opinaca and La Grande sub-provinces. The regional exploration guideline that led to the discovery of the Éléonore gold mine in 2004, today operated by Dhilmar Ltd. (previously owned by Newmont Corporation), and the discovery of gold deposits and showings in the region. 

The project is hosted within a volcano-sedimentary sequence of the Yasinski Group, which is metamorphosed to amphibolite facies and is strongly deformed by a regional west-southwest to east-northeast event in contact with sedimentary rocks of the Laguiche Group (Opinaca Subprovince) to the east.

Airborne magnetic surveys data interpretations show a clear alignment between the gold showings and the La Grande and Opinaca contact and structures sub-parallel to the contact.

Mineral Resource Estimate

The initial MRE (Table 1) was prepared by Olivier Vadnais-Leblanc, Geologist with SGS Geological Services in accordance with the 2014 Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards and Canadian National Instrument 43-101 (“NI 43-101”). SGS is independent of Fury and the Project.

The following is the current Mineral Resource Estimate as at November 11, 2025 (the “Effective Date”), which incorporates 17,719 metres of total drilling conducted by Quebec Precious Metals (14,754 metres) and Fury (2,965 metres).

Table 1: La Pointe Extension, Sakami Project MRE Summary, effective as of November 11, 2025

Notes:

1. The effective date of the Sakami project Mineral Resource Estimates (“MREs”), is November 11, 2025.
2. The Mineral Resource Estimates were estimated by Olivier Vadnais-Leblanc, P. Geo. of SGS Geological Services who is an independent Qualified Person as defined by NI 43-101.
3. The classification of the current Mineral Resource Estimates as Inferred mineral resources is consistent with current 2014 CIM Definition Standards – For Mineral Resources and Mineral Reserves.
4. All figures are rounded to reflect the relative accuracy of the estimate .
5. The mineral resources are presented undiluted and in situ, constrained by continuous 3D wireframe models, and are considered by the Qualified Person to have reasonable prospects for eventual economic extraction.
6. Mineral resources which are not mineral reserves do not have demonstrated economic viability. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It can be reasonably expected that most Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
7. The Project mineral resource estimates (Sakami Extension) are based on a validated database which includes data from 54 surface diamond drill holes totalling 18,233.72 m. The Project resource database totals 13,147 drill hole assay intervals representing 17455.62 m of data.
8. The MRE for the Sakami deposit is based on 44 three-dimensional (“3D”) resource models.
9. Grades for Au were estimated for each mineralization domain using 1.0 metre capped composites assigned to that domain. To generate grade within the blocks, the inverse distance square (ID2) interpolation method was used for all domains of the Sakami deposit.  An average density value of 2.76 g/cm3 was assigned to each domain.
10. Based on the location, surface exposure, size, shape, general true thickness, and orientation, it is envisioned that parts of the Sakami deposit may be mined using open-pit mining methods. In-pit mineral resources are reported at a base case cut-off grade of 0.4 g/t Au. The in-pit resource grade blocks are quantified above the base case cut-off grade, above the constraining pit shell, below topography and within the constraining mineralized domains (the constraining volumes).
11. The pit optimization and base-case cut-off grade consider a gold price of $2,600/oz and considers a gold recovery of 92%. The pit optimization and base case cut-off grade also considers a mining cost of US$2.80/t mined, pit slope of 55⁰ degrees, and processing, treatment, refining, G&A and transportation cost of USD$19.00/t of mineralized material.
12. The results from the pit optimization, using the pseudoflow optimization method in Whittle.20.22, are used solely for the purpose of testing the “reasonable prospects for economic extraction” by an open pit and do not represent an attempt to estimate mineral reserves. There are no mineral reserves on the Property. The results are used as a guide to assist in the preparation of a Mineral Resource statement and to select an appropriate resource reporting cut-off grade. A Whittle pit shell at a revenue factor of 1.00 was selected as the ultimate pit shell for the purposes of this mineral resource estimate.
13. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other such relevant issues.

Table 2: La Pointe Extension MRE Sensitivity to Gold Cut-Off Grade

Notes:

1. Bolded row represents the base case for the MRE.
2. Cut-off grades as low as 0.2 g/t Au are considered by the Qualified Person to meet NI 43-101 guidelines for Reasonable Prospects for Eventual Economic Extraction.

Figure 2: La Pointe Extension, Sakami Project Block Model Long Section