Fury Gold Mines

What Fury Gold Mines does

Fury Gold Mines Limited is a Canadian mineral exploration and development company headquartered in Toronto and listed on NYSE American and TSX under the ticker FURY. The company holds a portfolio of gold projects at varying stages of maturity in two Canadian jurisdictions: Quebec (Eau Claire, Sakami, Éléonore South, Elmer East, and Kipawa) and Nunavut (Committee Bay). Its flagship asset is the 100%-owned Eau Claire gold project in Quebec's Eeyou Istchee/James Bay region, which completed a Preliminary Economic Assessment in September 2025 showing a base case after-tax NPV of C$554M, a 41% IRR, 834 koz of recovered gold over an 11-year mine life, and an all-in sustaining cost of $1,140/oz. The Sakami project, added through the February 2025 acquisition of Quebec Precious Metals Corporation in a C$24 million all-share transaction, contributed an initial inferred resource of 825,000 ounces of gold (23.9 million tonnes at 1.07 g/t Au) at a discovery cost under C$9/oz.

The business is pre-revenue and generates no current operating income; near-term cash needs are funded entirely through equity financings. Capital raises in 2024-2025 include a C$5 million flow-through placement (Haywood Securities, May 2024), the QPM all-share acquisition (C$24M, February 2025), a C$4.3M strategic investment from Agnico Eagle Mines Limited that took Agnico's stake to 9.9% (May 2025), a C$3.37M private placement (June 2025), and a C$18M brokered private placement led by Haywood Securities (October 2025). The reported revenue model anticipates selling future gold production through commodity markets, spot sales, and forward contracts to precious-metals dealers, refineries, and industrial buyers; no customer contracts, channel partnerships, or pricing terms exist today.

Beyond gold, the company has begun diversifying into critical minerals: the Elmer East/Ninaaskumuwin lithium discovery returned 6.024% Li2O Direct Shipping Ore concentrate at 76.66% lithium recovery from Dense Media Separation testwork, and the Kipawa project provides rare-earth exposure. Underlying technology is conventional mining exploration and metallurgical processing — drill programs, ore characterisation, flowsheet development — supplemented by partnerships with SGS Canada Inc. (Eau Claire metallurgical testwork) and IGS Impact Global Solutions Inc. (Ninaaskumuwin lithium testwork). Agnico Eagle's 9.9% strategic ownership and high-profile board additions, including former Hecla CEO Phillips S. Baker Jr. (January 2026), former IAMGOLD/Hecla Québec environment lead Annie Blier (May 2026), and 40-year mining veteran Mario Courchesne as VP Project Development (April 2026), position the company to move Eau Claire from PEA through feasibility toward a construction decision.

Name

Fury Gold Mines

Legal name

Fury Gold Mines Limited

Website

https://furygoldmines.com

Company type

Public

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

Fury Gold Mines is a pre-revenue Canadian gold exploration and development company advancing the Eau Claire, Sakami, Committee Bay, and other Quebec and Nunavut projects, with a recent PEA, a 9.9% strategic stake held by Agnico Eagle, and growing exposure to lithium and rare earths.

Ownership category

akta.pro rank

Product category

Gold Mining

NAICS

Gold Ore and Silver Ore Mining (212220), Other Metal Ore Mining (212290)

SIC

Gold And Silver Ores (1040), Metal Mining (1000)

akta.pro primary industry

Gold Mining (IMAKAEAA)

akta.pro secondary industries

Precious Metals Exploration & Project Development (IMAKAEAI), Exploration & Resource Development (Critical Minerals) (IMAKAFAL)

Keywords

• Gold exploration
• Mineral resource development
• Precious metals mining
• Lithium exploration
• Rare earth elements

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Technology or R&D, Personnel

Revenue model

1. Gold Production and Sales: Pre-production gold mining company generating revenue from gold extraction and sale on commodities markets. Revenue projected from future production at Eau Claire with 834koz total recovered gold over 11-year mine life.

Distribution channels1 record

Core offering

Fury Gold Mines is a pre-production Canadian exploration and development company advancing a portfolio of gold, lithium, and rare earth element projects in Quebec and Nunavut. The company's core offering is the identification, acquisition, and advancement of high-grade mineral resources toward production, with the flagship Eau Claire gold project targeting commercial gold production based on a Preliminary Economic Assessment demonstrating 834koz total recovered gold over an 11-year mine life.

Product overview

Fury Gold Mines Limited is a gold-focused mining and exploration company operating in Canada's Quebec and Nunavut regions. The company operates a portfolio of projects at various stages of development, from early-stage exploration to advanced development. The flagship Eau Claire Gold Project is advancing toward feasibility following a positive PEA, while the company is actively exploring its Sakami Gold Project (recently expanded through acquisition), Committee Bay Project in Nunavut, Éléonore South Project, and has diversified into critical minerals with the Elmer East lithium discovery and Kipawa Rare Earths Project.

Differentiator

Problem solved

Functional benefit

Products and services

• Eau Claire Gold Project A 100%-held high-grade gold project located in Quebec's Eeyou-Istchee/James Bay region. The project has completed a Preliminary Economic Assessment (PEA) demonstrating a base case after-tax NPV of $554M and IRR of 41%, with 834koz total recovered gold over an 11-year mine life at $1,140/oz AISC. Currently advancing through metallurgical testwork and Phase 1/2 drill programs toward feasibility.
• Sakami Gold Project A wholly owned gold project in Quebec's James Bay region containing an initial inferred mineral resource of 825,000 ounces of gold (23.9 million tonnes grading 1.07 g/t gold). Acquired through the purchase of Quebec Precious Metals Corporation, the resource is open for expansion in all directions and was discovered at exceptionally low cost of C$9/oz.
• Committee Bay Project A gold exploration project located in Nunavut, Canada. The 2025 drilling program included six diamond drill holes totaling approximately 2,778 meters, successfully extending mineralization at the Three Bluffs Shear Zone and validating the Raven Target.
• Éléonore South Project A gold exploration project located in Quebec, Canada. The project is one of the targets for flow-through share financing to fund exploration activities at Eau Claire and Éléonore South projects.
• Elmer East Project (Ninaaskumuwin Lithium Discovery) A lithium discovery project in Northern Quebec featuring the Ninaaskumuwin spodumene pegmatite occurrence. Metallurgical test results achieved 6.024% Li2O Direct Shipping Ore concentrate with 76.66% lithium recovery through Dense Media Separation, located approximately 50 km north of Rio Tinto's Galaxy Lithium project in Quebec's emerging battery metals corridor.
• Kipawa Rare Earths Project A rare earth elements project in Quebec where Fury is emphasizing community engagement and exploration potential, with an update provided as part of the company's 10,000-metre drilling program announcement.

Quantifiable outcome

• 41% IRR and $554M NPV for Eau Claire project per Preliminary Economic Assessment
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• New Found Gold Corp. A Newfoundland-based gold explorer with a flagship high-grade project; one of the most comparable Canadian junior gold developers to Fury in terms of exploration stage, market cap profile, and focus on resource delineation and PEA/feasibility-level advancement.
• Probe Metals Inc. A Quebec-focused gold exploration and development company with multiple projects in the Abitibi and James Bay regions. Directly comparable to Fury in terms of geography, commodity focus, and Canadian junior gold developer profile.
• Maple Gold Mines Ltd. A Quebec-focused gold exploration company with the Douay project. Closely comparable to Fury as a junior gold explorer with a primary asset in Quebec and a similar resource-stage profile.
• Troilus Gold Corp. A Canadian gold and copper developer advancing the Troilus project in Quebec, formerly operated by Inmet Mining. Comparable to Fury due to its Quebec jurisdiction focus and PEA/feasibility-stage development profile.
• Benz Mining Corp. A Quebec-focused gold and lithium explorer with the Galinée and Eastmain projects in the James Bay region. Comparable to Fury given its Quebec gold exploration focus plus parallel critical minerals optionality (similar to Fury's lithium exposure).
• GoldMining Inc. A North American-focused gold acquisition and development company with a multi-asset portfolio. Comparable to Fury in its portfolio approach of holding multiple North American gold projects at varied stages of development.
• Magna Mining Inc. A Canadian mining exploration and development company focused on base and precious metals in Ontario. Comparable to Fury as a small-cap Canadian junior miner building a multi-asset development pipeline.

Broad incumbents

• IAMGOLD Corporation: A mid-tier gold producer with significant Quebec assets including Côté Lake and Westwood. Relevant as a larger incumbent operator in the same Quebec region where Fury is advancing Eau Claire and Sakami, and a key peer for benchmarking AISC, jurisdictional profile, and capital allocation.
• Alamos Gold Inc. A mid-tier gold producer with operations across North America including the Canadian Malartic mine in Quebec. Relevant as a broader incumbent in Quebec gold mining and for benchmarking where Fury could eventually position itself as a multi-asset producer.
• Argonaut Gold Inc. A North American mid-tier gold and silver producer with operations in Ontario, Quebec, and the Western U.S. Comparable to Fury as a Canadian-focused gold company currently in a transition phase including development of new projects.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds9 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fury Gold Mines