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I think we've basically accomplished everything we
said we would do two years ago,

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including acquisitions, divestments, raising capital, of bringing in new investors. We

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have a new resource update that shows
that, you know, we're close to

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two million ounces. We could make
it there if we want to, and

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we've got lots of new discovery.
Plus we've got this new strategic property with

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the joint venture. I mean it's
it's the Eleanor is going to be sold

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over the summer by Newmont and a
new player is going to come in and

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there's going to be a lot more
attention activity in that in that part of

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the world. The Financial Survival Network
now more than ever, the Financial Survival

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Network. Welcome. This is Financial
Survival Network. I'm your host, Carrie

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Letz. We are sitting down with
Fury Gold mind CEO Tim Clark and chief

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geologist Brian Atkinson, and I've been
looking forward to this. Fury just released

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your updated resource estimate for oak Clare
and your made an estimate for perse of

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All. So Tim, could you
start by explaining the significance of the increased

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resource estimates at Oaklaire And I would
also like to point out your conservative methodology

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behind these numbers, well, I
mean, I'll start it out by I

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let with Brian run with it,
since he was the one who really accomplished

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this goal and his team effectively.
Though, we added five hundred and thirty

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thousand ounces to the resource that brings
us from one point three up to one

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point eight eight million ounces that show
us a pathway to two million ounces,

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which is sort of really the target
that a lot of these companies are looking

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for. Theoretically, you don't have
to get to two million, you just

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got to show that you've got a
real resource that they're interested in buying.

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And I think what our goal here
was to spend a couple of years getting

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this set up so that it's like
fixing your house up ready to be sold.

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And the idea now is to really
go out on the rest of the

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property and look for some new discovery
on top of what we have at perceval.

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Perceval was two hundred and twenty five
or so a thousand ounces, and

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no one really sort of saw it
that much, and it's a real ad

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If we can find a couple more
of those, it would be great.

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And there's fifteen anomalies out in the
property that looked just like it. So

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just to pass it off to Brian, Brian, why didn't you sort of

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elaborate a little bit more on the
resource itself. Yeah, definitely, carry

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Yeah, we're pretty excited about it. You know, the numbers came out,

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you know, at the upper end
of the threshold of where we're thinking,

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and you know, we managed to
put a lot of those ounces into

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the measured indicated category, which you
know is the higher confidence sort of level.

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You know, big increases there of
you know, thirty six percent,

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and then you know the bulk of
the added the forty five percent increase in

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the inferred ounces on the project came
from from Percy Bell, which is sort

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of you know, like Tim just
alluded to, the first time that's been

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put together into to resource. And
you know, there's not that much drilling.

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You know, at the hinge we
did just over twenty thousand meters.

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Throughout the rest of the top deposit
we did another twenty thousand meters, and

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then you know the seventy eight hundred
meters that we did at at Percyval.

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To add these these ounces that we've
added, you know, we've also improved

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the geometry of the veining on the
east end of the deposit, the old

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player deposit, where where we had
additional data through the main part of the

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deposit. We haven't we haven't put
any drill balls in there, so we

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didn't adjust the veins that were previously
modeled. But we went from you know,

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thirty five forty degree dip on the
veins to a fifty to sixty five

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degree dip on the veins. So
you're much better geometry for any sort of

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eventual you know, economic study that
goes forward on this, all right,

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and your methodology you're talking pre call
said, you're beyond conservative in many respects.

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If you were really looking to push
this thing, you could have gotten

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a lot higher. We're looking at
nineteen hundred dollars gold, but it seems

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like where many others are over promising
and we'll eventually under deliver, you're the

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opposite. Yeah. Look, you
know, there was there was a historic

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resource done on this that you know, was you know, was unrealistic,

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and I think since then, you
know, the it's it's battled a bit

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of that stigma, and now we're
back up to that same resource number,

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and this is a very defensible resource
number with you know, half gram open

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pick cutoffs. We use zero point
five to two revenue factor pit edeu Claire,

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so there's lots of lots of room
there. And like I said,

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all these these ounces, you know, went into the measion indicated category.

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So nice systematic drilling and doing that, so you know, there's not a

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big bunch of inferred where we're looking
at white spacings on these these high gride

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veins and you know, like you
said, nineteen hundred dollars gold. Nice

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reasonable cutoff levels and great grades still
coming out of it. Right, Like

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the grades dipped a little bit,
but that's largely because of the increase in

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the open pit and bringing in Percy
val as well. Yeah, always better

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to be conservative and surprise on the
upside tip. As far as Eleanor South,

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how does that fit into the equation
based on the resource estimate, Well,

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it doesn't fit into the resource itself. I think what it does do

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is it gives us a huge component
for new discovery as we think about our

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project this summer, and the goal
is to go up to the joint venture

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and do a big geochem study on
the Eleanor anomaly that we have up there

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that sits on our side of the
border from Eleanor, and we're going to

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get also some drill results back from
the spring that we did in April that

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we're up near the Cereos side that
we're looking and trying to determine how far

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down that high grade comes onto our
property, and so once we get some

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of those numbers back, we'll be
better able to assess it. I think

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where we are right now is like
I said earlier, we don't have to

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do a lot of drilling at the
resource because we now have a real resource

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that's legit, it's got the numbers, it's got the backing, and we

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can focus on new discovery, which
will include some of the stuff on our

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property to declaire, but as well
as the joint venture up north. And

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I think that's what a lot of
people are asking. It's interesting to some

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people asking me about the serial side
and then others are asking me about the

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alien Or side. Everybody has their
sort of favorite pick. We're it's fourteen

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thousand hectors. We're going to get
to it. We just don't need to

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spend as much money this year because
we've got our resource now. And you

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know, one of the things that
Brian said to me when we got our

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numbers back. Was this third party
vendor that we use to do the assessment,

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you know, made a nice comment
saying we don't typically see these kind

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of resources in Quebec. This is
a big resource for Quebec, and it's

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high grade. And I've looked and
done some comparison to some other companies that

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are much higher value than ours,
and we have a higher grade, more

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ounces, and they might be up
in the mountains and we're along power and

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roads. It's a huge difference.
This is legit. Companies should be looking

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at us because we're not cut off
in any direction and we've got a lot

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more to do, speaking of which, Brian. So basically it's open in

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all directions this resource. There's no
constraints here. Physical constraints. Yeah,

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no, it's it's sort of amazing. You know, some of the last

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holes we put out last year,
you know, at three and a half

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meters of seventeen point six grams three
and a half meters of thirty two point

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six grams, those were in a
new structure that those are the only two

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holes into that our westernmost hole on
the Hinges wide open. We brought in

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some ounces into the gap, but
that's still still wide open. And then

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on the east extension again it's you
know, it sounds cliche to say it's

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open in all directions, but legitimately, our boundary holes are all open and

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we haven't even you know, assessed
the further depth potential below you know,

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where it's drilled below six hundred and
fifty meters below surface now, so there's

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there's lots of additional space here to
keep expanding this, right so for future

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drilling. So you kind of have
to make some decisions, uh obviously,

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because there's so much potential in every
direction. Where where do you think the

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best potential is here? Brian no. I think what we're going to focus

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on is you know, finding some
you know, a new discovery out there,

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you know, looking at some of
these anomalies that we have out between

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Percy Val and and up up to
the north to Serendipity, and then also

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at at the ellen Or target that
we have on the llen Our Salth project.

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So it's going to be more focused
on that the resource is open.

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Uh, you know, we can
we can go in there and drill some

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shallow bowls in it, but that's
you know, that's natative process to show

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further growth and and that whereas if
we can go out and make another new

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discovery and add you know, sort
of show showcase, you know, another

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Percy val Or or something like that
sitting out there or loan and behold we

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get lucky on the ellen or anomaly. You know. I think that's that's

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going to be our focus, is
going out there and finding something new as

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we go forward. Here. The
other thing, Carrie is we're going to

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spend a two hundred thousand and go
back up to Nunavan. We get a

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lot of interest from the producers last
fall looking at our asset up in Committee

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Bay, and so we've got to
go back up and open up the camp

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anyway, So we're going to do
a small survey project up there that I

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think, you know, investors should
take interest because you know, for the

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last few years there wasn't a lot
of interest in taking big swings. But

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with goal price now the bigger companies
are starting to look again, and we're

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going to be prepared and ready to
market that. That's a historical spend of

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a couple hundred million dollars up there
and work, and we get zero value

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for it in the stock and it
would take one caa agreement and an investment

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of ten million bucks to rerate that
thing pretty quick quickly up there. And

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then on this allan Or property,
we're going to spend quite a bit on

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a geokem project in May, and
that's going to give us some real targets

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in this anomaly. Is this is
sort of the same signature and size that

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the ler in our mind is built
upon, so it could be a big

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swing there. And yeah, well
we're you know, we're going to be

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working out of our regular camp,
so we're going to have a helicopter to

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be able to go to a bunch
of these sites in Brian as a list

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of his highest priority targets, and
we're going after the best ones getting to

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finances. You know, it always
struck me the theory has been kind of

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this raging value play where you know, you're holding shares in Dolly Vard and

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Silver and they've gone up and you
know, the enterprise value less your cash

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00:11:48,919 --> 00:11:54,519
in the bank. I mean,
you're trading at peanuts here. Yeah,

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so you know it's that's is pretty
amazing and I I've been trying to explain

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it, but to myself, I
think a lot of it was because people

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assume that we're just this derivative of
Dollar Varden and they're more liquid, you

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know. The irony and we look, we're a huge fan of Dolly Varden.

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The irony is every ten cents increase
in their in their stock price,

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our value of their shares goes up
by five point four million dollars. We

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have fifty four million shares. It's
over fifty five million dollars right now.

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Our market caps at seventy five or
eighty. We got five million dollars in

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the bank. We've got historical spending
in the hundreds of millions of dollars on

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our property, and we're getting paid, you know, twenty million bucks in

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enterprise value. It's crazy. The
crazier part is you look at like some

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of these companies, they're valued in
hundreds of millions of dollars, and we

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have more ounces, better quality,
and better access. And it's just the

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difference between in the silver play and
the goal play. But it's going to

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come around at some point, and
a lot I get a lot of questions

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about Dolly Varden, and you know, look, they're surrounded by Hackla,

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the natural buyer. They've got twenty
five million bucks in the bank that does

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spend this summer, we could see
some activity, especially with silver is going

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up and gold's going up. We
are going to get re rated and this

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is probably the best value play out
there in the sector. And we're the

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best financed junior out there by far, and so there's not as much risk

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with us, and you've got a
lot of potential swings with our multiple properties.

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Yes, it's crazy, and you've
got an updated resource that justifies a

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valuation in its own right. I
think we traded like fourteen dollars announce,

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and some of these other players are
trading I think, you know, in

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00:14:01,200 --> 00:14:03,399
the twenties and some of them in
the one hundred and why I know the

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00:14:03,440 --> 00:14:07,519
silver plays are some of them were
one hundred and fifty dollars announced on gold

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00:14:07,519 --> 00:14:13,080
equivalent basis. It's it's a trade
for them, but I think they're like

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I've been in capital markets a long
time and eventually people discover these things,

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and when they do, it's pretty
it's it's pretty fun because they'll rip,

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and I think I think we're positioned
for that. Positioning is everything. And

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I remember if somebody once said to
me that he who Waits gets everything right.

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Well, we were trying to be
patient and we're just doing a lot

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of good blocking and tackling. I
think we've basically accomplished everything we said we

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00:14:46,039 --> 00:14:54,240
would do two years ago, including
acquisitions, divestments, raising capital, bringing

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in new investors. We have a
new resource update that shows that you know,

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we're close to two million ounces.
We could make it there if we

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00:15:01,440 --> 00:15:07,080
want to, and we've got lots
of new discovery. Plus we got this

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new strategic property with the joint venture. I mean, it's it's that Eleanor

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is going to be sold over the
summer by Newmont and a new player is

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00:15:16,679 --> 00:15:20,200
going to come in and there's going
to be a lot more attention activity in

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that in that part of the world. And it's a great part of the

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world, as investors pointed out to
me when I was in New York yesterday,

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00:15:28,799 --> 00:15:31,200
that it's one of the top two
jurisdictions in the world to be mining

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00:15:31,279 --> 00:15:35,639
because of the support of the government. You don't want to be in these

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emerging markets with this political scene right
now. All of our assets are spread

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across Canada and there's going to in
my opinion, there's going to becoming consolidation

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00:15:46,879 --> 00:15:50,639
at these higher goal prices, and
we sit all our properties are big properties,

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00:15:52,039 --> 00:15:58,600
and they sit next to all these
majors with HECLA at Nico Newmont and

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and as I spoke to some one
of these big gold CEOs last December,

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I said, what do you do
in an inflation inflationary environment? And they

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said that the answer is easy.
You consolidate and you buy more land,

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so you don't have to build five
roads, you build one. You don't

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build five mills, you build one. And so my view is that junior

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space is up for consolidation. And
we've got a lot of attractive things,

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including you know, a big slug
of you know, Dolly stock that can

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be monetized. So you know,
it's it's a good play, right and

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you're in the position where you don't
have to dilute to raise capital when when

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it becomes necessary, well we get
right now, we got five million bucks

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and we've got some left overflow,
and we can pretty much do everything we

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need to do without raising any money
right now. Yeah, So that's an

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enviable position for a junior to be
in. Many others are scurrying trying to

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figure out how to negotiate this really
complex landscape here. So Brian looking ahead

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here when the drill is going to
start turning. Yeah, we're hoping,

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you know, mid mid sort of
June. Right now, we're in a

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sort of a time period that's called
Goose Break in Quebec, so that stretches

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from April twentieth to May twentieth,
and then we're we're hoping to mobilize and

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get going here by mid to late
June. And yeah, targets are ready

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to go, plans in place,
and we're going to focus on completing the

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biogeochemical grid or a top of the
ellen or target so that we can have

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those drill targets ready permitted and ready
to go and hopefully drilling those in the

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late summer to early fall here.
All right, sounds great, Well,

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appreciate you both coming on, gentlemen. The ticker symbol, of course is

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Fury, both in the US and
Canada. The website is a Feury gold

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Mines dot com. Make sure you
go there sign up for notifications. I

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have a feeling they're going to be
coming fast and furious. We'll talk to

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you again soon. Thanks Tim,
Thanks Brian, Thanks Kyary. The Financial Survival Network