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Criteria

JORC Code explanation

Commentary

Sampling techniques

• Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.

• Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

• Aspects of the determination of mineralization that are Material to the Public Report.

• In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralization types (eg submarine nodules) may warrant disclosure of detailed information.

• FLEM (TDEM) Survey:
  
  A 109.03 line km fixed loop survey was commissioned by Benz Mining to Abitibi Geophysics at the Company's Eastmain Property in Quebec. The survey was conducted using a conventional ARMIT- TDEM Fixed conventional loop with ARMIT sensor and SmartEM 24 by EMIT receiver.

• DHEM/BHEM Survey, 3480 metres from Abitibi Geophysics, EMIT DigiAtlantis probe
  
  

  Downhole/Borehole Electromagnetics was conducted by TMC geophysics using a Crone Deep EM system.

• This release does not contain any sampling results.

Drilling techniques

• Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).

• Drilling:
  
  Diamond drilling
  
  NQ size Core
  
  Triple tube
  
  No recoveries in the overburden
  
  Oriented Core using Reflex ACT III system

Drill sample recovery

• Method of recording and assessing core and chip sample recoveries and results assessed.

• Measures taken to maximise sample recovery and ensure representative nature of the samples.

• Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.

• Length of core recovered was compared with core blocs inserted between runs by the drillers. Core blocs record the depth drilled as measured by the length of drill rods inserted in the hole.

• Recoveries of diamond core were in excess of 98%

• At this stage, a relationship between grade and recoveries cannot be established as Benz is awaiting assays and grades have not been established

Logging

• Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.

• Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.

• The total length and percentage of the relevant intersections logged.

• Core has been visually logged by qualified geologists who have recorded:
  
  Lithology
  Alteration
  Mineralization
  Mineral abundances
  Structures
  Magnetic susceptibility and conductivity

• At this point in time, logging is qualitative as the Company has not received assays from the core samples it has submitted for analysis.

• 100% of the core drilled has been logged

• A proportion of the core has been sampled based on geological observations and submitted for geochemical analysis (assays).

Sub-sampling techniques and sample preparation

• If core, whether cut or sawn and whether quarter, half or all core taken.

• If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.

• For all sample types, the nature, quality and appropriateness of the sample preparation technique.

• Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.

• Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.

• Whether sample sizes are appropriate to the grain size of the material being sampled.

• This release does not contain assay results.

Quality of assay data and laboratory tests

• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.

• For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.

• Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.

• This release does not contain assay results.

Verification of sampling and assaying

• The verification of significant intersections by either independent or alternative company personnel.

• The use of twinned holes.

• Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.

• Discuss any adjustment to assay data.

• This release does not contain assay results.

Location of data points

• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.

• Specification of the grid system used.

• Quality and adequacy of topographic control.

• Drillholes have been located using a hand held GPS receiver with a typical accuracy of +/-4m

• Grid: UTM NAD83 Zone 18N

• Topographic control is cross-checked with a 2013 LIDAR survey

Data spacing and distribution

• Data spacing for reporting of Exploration Results.

• Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.

• Whether sample compositing has been applied.

• No assay results reported

Orientation of data in relation to geological structure

• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.

• If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.

• Drilling was oriented to intersect interpreted geology perpendicularly where possible.

Sample security

• The measures taken to ensure sample security.

• Core was cut and bagged on site by core technicians under supervision from Geologists.

• Sample dispatch were prepared by geologists

• Bags were transported directly to the laboratory by a contractor.

Audits or reviews

• The results of any audits or reviews of sampling techniques and data.

• No assays reported in this release.

Criteria

JORC Code explanation

Commentary

Mineral tenement and land tenure status

• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.

• The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.

• The Eastmain Mine Project comprises 152 contiguous mining claims each with an area of approximately 52.7 ha covering a total of 8,014.36 ha plus one industrial lease permit that are owned by Eastmain Mines Inc., a wholly owned subsidiary of Fury Gold Mines. The claims are numbered 1133433 to 1133583 consecutively plus claim 104458 (Figure 4.2). All of the claims are located within NTS sheet 33A 08.

• The former Mine Lease BM 817 was issued on January 10, 1995 and expired in 2015 after a 20-year term. This former Mine Lease was converted to Industrial Lease 00184710000 on September 1, 2015 and contains all normal surface rights. The former mineral rights for BM 817 are now included in the expanded Claims 1133523, 1133524, 1133525, 1133505, 1133506 and 1133507.

• The claims are 100% held by Fury Gold Mines subject to certain net smelter royalties ("NSR").

• On August 9, 2019, Benz Mining Corp. announced that it has entered into an option agreement with Eastmain Resources Inc. (now Fury Gold Mines) to acquire a 100% interest in the former producing Eastmain Gold Project located in James Bay District, Quebec, for CAD $5,000,000.

• Eastmain Resources would retain a 2% Net Smelter Return royalty in respect of the Project. Benz may, at any time, purchase one half of the NSR Royalty, thereby reducing the NSR Royalty to a 1% net smelter returns royalty, for $1,500,000.

• The Eastmain Mine, as defined by the perimeter of a historic mining lease, is subject to a production royalty net smelter return ("NSR") of 2.3% through production of the next 250,000 oz produced and 2% thereafter. A package of claims surrounding the mine precinct is subject to a production royalty (NSR) of 2% in favour of Goldcorp as a result of their succession to Placer Dome in an agreement dated December 30, 1988 between Placer Dome, MSV Resources Inc. and Northgate Exploration Limited.

• The 152 claims that form the Eastmain Mine Property are all in good standing with an active status.

Exploration done by other parties

• Acknowledgment and appraisal of exploration by other parties.

• 1930s & 1940s - Prospecting of gossans

• 1950s & 1960s - Riocanex - Exploration of the Upper Eastmain Greenstone Belt

• Mid 1960s - Fort George - Diamond drilling of a gossan zone

• 1696 - Canex Aerial Exploration Ltd & Placer Dvelopment Ltd - Airborne magnetic and EM surveys with ground geophysics follow up.

• 1970 - Placer Development Ltd - Seven holes testing an EM anomaly. Discovery of A Zone with 1.5m @ 13.71g/t Au

• 1974 - Nordore - Aerodat airborne AEM survey and Ground geophysics. 3 holes returned anomalous gold values adjacent to B Zone

• 1974 - Inco Uranerz - Airborne geophysical survey over the whole greenstone belt.

• 1981 & 1982 - Placer - Airborne and ground EM, ground magnetics. Drilling of EM anomalies discovered B zone and C zone.

• 1983 to 1985 - Placer - Airborne and ground EM, downhole PEM, 91 holes over A B and C zones.

• 1986 - Placer - 25 holes into A B and C zones

• 1987 &1988 - Placer Dome / MSV JV - Drilling of A, B and C zones

• 1988 to 1994 - MSV Resources - Drilling, surface sampling, trenching, regional exploration, Seismic refraction over ABC Zones,

• 1994 & 1995 - MSV Resources - Mining of 118,356t at 10.58g/t Au and 0.3%Cu, processed at Copper Rand plant in Chibougamau, 40,000oz recovered

• 1997 - MSV Resources- Exploration, mapping, prospecting, trenching.

• 2004 - Campbell Resources - M&I resource calculation for Eastmain Mine.

• 2005-2007 - Eastmain Resources - Purchase of the project from Campbell Resources, VTEM, Prospecting, regional exploration.

• 2007-2019 - Eastmain Resources - Sporadic drilling, regional exploration, mapping, sampling, trenching. Surface geochemistry (soils)

Geology

• Deposit type, geological setting and style of mineralization.

• In the Eastmain Gold Deposit, gold mineralization occurs in quartz veins with associated massive to semi-massive sulphide lenses/ veins and silicified zones associated with a deformation corridor.

• The mineralized zones are 3 m to 10 m thick and contained in a strongly deformed and altered assemblage (Mine series) consisting of felsic, mafic and ultramafic rocks.

• Mineralized quartz veins and lenses show a variable thickness between 10 cm and 13 m, and sulphide contents average 15% to 20% in the mineralized quartz veins and sulphide lenses. In order of decreasing abundance, sulphides consist of pyrrhotite, pyrite, and chalcopyrite, with minor sphalerite, magnetite and molybdenite. Visible gold occurs in the mineralized quartz veins as small (<1 mm) grains associated with quartz and (or) sulphides in the A, B and C Zones.

Drill hole Information

• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:

  • easting and northing of the drill hole collar

  • elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar

  • dip and azimuth of the hole

  • down hole length and interception depth

  • hole length.

• If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.

• See Appendix 2.

Data aggregation methods

• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.

• Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.

• The assumptions used for any reporting of metal equivalent values should be clearly stated.

• No quantitative results reported.

Relationship between mineralization widths and intercept lengths

• These relationships are particularly important in the reporting of Exploration Results.

• If the geometry of the mineralization with respect to the drill hole angle is known, its nature should be reported.

• If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg 'down hole length, true width not known').

• No downhole intervals reported.

• Drilling was designed to intersect the known stratigraphy and the interpreted EM conductors at the lowest angle to core axis as possible.

Diagrams

• Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.

• See figures in the body of text

Balanced reporting

• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.

• Benz Mining is not yet in possession of quantitative exploration results.

• It is the Company's intention to report all exploration results together when they become available.

Other substantive exploration data

• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.

• Benz Mining Corp conducted a 109 line km Fixed Loop Time-Domain Electromagnetics survey on the Eastmain Property.

• The FLEM (TDEM) survey identified 12 first order conductors modelled as thin plates through Maxwell modelling.

• 7 Diamond drill holes were drilled in 6 conductive plates.

• Geological observations: all drillholes encountered some level of alteration with various amounts of quartz and sulphides mineralization. In the core from drillhole EM20-132, Benz geologists identified several <1mm grains of native gold.

• Benz conducted systematic BHEM of each hole drilled as well as BHEM surveying of historical holes.

• BHEM identified numerous in-hole and off-hole conductors coincident or not with drilled mineralization.

• An additional 5 drillholes were drilled targeting off hole modelled conductive plates.

• All 12 holes returned visual indication of alteration and/or mineralization

Further work

• The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).

• Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

• Benz Mining is currently designing a 50,000m drilling campaign starting in January 2021

• This drilling campaign will be conducted alongside regional Moving Loop Electromagnetic (MLEM) and FLEM surveys

• All new holes will be surveyed by BHEM as well as a selection of historical holes.

Hole ID

UTMx_East
NAD83_Z18N

UTMy_North
NAD83_Z18N

Elevation
(m)

Total Depth (m)

Azimuth
(°)

Dip
(°)

EM20-131

699870

5797522

493

327

216.2

-56.5

EM20-132

701235

5798026

482

697

215

-84.5

EM20-133

701120

5798031

482

597

198.2

-84.6

EM20-134

700232

5798516

491

552

201.7

-85.5

EM20-135

700873

5798374

479

726

200

-85

EM20-136

701371

5798071

484

678

200

-79.8

EM20-137

700223

5798049

489

555

211.5

-74.4

EM20-138

699219

5798856

482

624

224.7

-76.3

EM20-139

699474

5798605

477

600

205.5

-77.4

EM20-140

700871

5798386

479

777

141.2

-77.7

EM20-141

700320

5798046

487

669

209.6

-75.1

EM20-142

701099

5797364

510

309

214.6

-59.2