07:17 AM EDT, 10/21/2025 (MT Newswires) -- Fury Gold Mines ( FURY ) announced Tuesday that it has commenced a 10,000-meter fall/winter drilling program at its wholly owned Eau Claire Gold Project, located in the Eeyou Istchee Territory in the James Bay region of Quebec.

A statement noted the program is based on recommendations from the recent Eau Claire PEA and will focus on resource growth and enhancing the mine plan. Two drill rigs are currently active at site.

"We are excited to launch the next phase of drilling at Eau Claire, where our focus remains on advancing Eau Claire to development stage," said CEO Tim Clark. "We also recognize the growing strategic importance of the Kipawa rare earths project and we are encouraged by the project's potential. We look forward to working alongside First Nations and local communities to evaluate next steps."

Tuesday's statement noted the fall, winter 2025 drill program at Eau Claire, comprising approximately 10,000 meters, will focus on: expanding resources along high-grade shoots, which were highlighted in the PEA mineable portion of the resource; and connecting the current resource outside of the PEA mineable portion to bring more of the existing gold ounces into an eventual development scenario; and continuing to identify additional resource growth opportunities.

FURY said although core focus remains on precious metals, the company provided an update on the Kipawa rare earths project in Quebec, given recent attention and increased valuations to rare earth projects globally.

It added: "Since acquiring this project as part of the Quebec Precious Metals acquisition in the first quarter of this year, Fury has primarily focused on re-initiating dialogue with local community members and First Nations. The first step has been the establishment of a new community council comprised of local and First Nation leadership representation, which includes one Fury representative. The company's goal is to work collaboratively with this Committee and the Quebec Government to establish next steps to put this project back on a positive pathway to the benefit of all."

The Project is located 50 km east of Temiscaming and 440 km north of Toronto in southwestern Quebec and covers approximately 4,300 hectares. Kipawa is host to historical proven and probable reserves of 19.8 million tonnes grading 0.411% total rare earth oxides (TREO).

Shares in FURY gained 6.2 in Canada yesterday.