Fury Explorations Ltd.
TSX VENTURE : FUR

Fury Explorations Ltd.

October 30, 2007 07:00 ET

Fury Provides Timeline for Taylor Mine Reopening

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 30, 2007) - Fury Explorations Ltd. (the "Company") (TSX VENTURE:FUR) today provides the status of pre-production activities and a forecast for the reopening of its Taylor silver mine and mill located near Ely Nevada.

"The redevelopment of Taylor continues in accordance with the plan we established at the outset and we are confident that our strategy is well conceived and that the details are being thoroughly investigated. The permitting process can be challenging and time consuming, but we are working diligently to continue a constructive relationship with key regulators and remain confident that we could realize our projected production start date," commented Steve Vanry, President and CEO.

The Taylor Project is well positioned for redevelopment as the main pit and process plant facilities and basic infrastructure for operations remain in existence from prior operations. The Company's approach to redevelopment is directed toward maximizing the use of the existing areas of surface disturbance for the location of the project facilities. The approach has been employed successfully with the same State and Federal regulators on other recent project approvals in Nevada.

Estimated Redevelopment Timetable(1):



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Item Estimated Completion Date
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Resource Calculation (NI 43-101) Complete
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Mine Planning Complete
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Operational Permit Submittal (POO) November 2007
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Water Pollution Control Permit Submittal December 2007
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Air Quality Control Permit Submittal Q1 2008
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Pre-Feasibility Completion Q1 2008
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Receipt of Final Permit Approvals Q4 2008
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Initiate Mill Refurbishing and Tailings Upgrade Q4 2008
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Re-opening of Mine and Mill Q1 2009
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(1) The development, operation, closure and reclamation of mining projects in the United States requires numerous notifications, permits, authorizations and public agency decisions. This summary description does not attempt to identify all of the permits and authorizations that need to be obtained, but instead focuses on those that are considered to be the main aspects on the critical path for project re-development. The estimated completion dates provided are best estimates determined as a result of discussions with regulators and our consultants but cannot be guaranteed. Delays in the reopening of the project may occur due, among other reasons, to the delay in acquiring regulatory approval of submissions or due to requests by the authorities for submission of additional data.

Operational Permit (Plan of Operation - POO)

The Taylor Project is partially located on public lands administered by the U.S. Forest Service (USFS). The Ely Ranger District is the lead agency regulating mining and reclamation activities on USFS lands at Taylor. As a land management agency, the USFS is concerned with impacts to the land and local and proximate multiple-use resource values.

The permitting process with the USFS consists of filing a Plan of Operations (POO) under the National Environmental Policy Act (NEPA). The POO describes the project plans in a detailed step-by-step manner. Once the POO is filed and reviewed, the USFS will determine whether or not the planned development is deemed to be significant. In the case that the project is determined to be insignificant development can progress upon the filing of an Environmental Assessment (EA), conversely the Company will be obliged to file an Environmental Impact Statement (EIS). The permit approval for an EA is more straightforward than for an EIS.

The permitting strategy being employed by the Company at Taylor maximizes the use of existing facilities and existing areas of surface disturbance and seeks to minimize additional areas of disturbance. By proposing mining and processing operations that are substantially equivalent to those that were authorized to prior operators through an EA, the Company hopes to optimize the permitting process.

Water Pollution Control Permit

The Nevada Division of Environmental Protection (NDEP), Bureau of Mining Regulation and Reclamation (BMRR) serves to protect the waters of the State. Both surface and subsurface investigations have been undertaken and near completion. The investigations are directed toward defining the hydrologic regime in support of this permit application which is submitted to the State in parallel with the POO.

Air Quality Control Permit

The NDEP, Bureau of Air Pollution Control (BAPC) regulates discharges to air. The air permit application will be developed concurrent with the Pre-Feasibility study based upon the process flow diagram defining the project equipment, equipment emission release points and shall identify the emission controls that are to be employed.

A more detailed description of the permitting requirements for the project can be found in the recently published NI 43-101 Taylor Project Resource Report as posted by the Company on SEDAR.

About Fury Explorations

Fury Explorations is a metals exploration and development company focused on reaching near-term silver production at its Nevada based Taylor Project while advancing its highly prospective pipeline of North America based projects. Fury is well positioned for the possibility of entering into commercial production and further growth. The Company has 27.5 million shares outstanding and trades on the TSX Venture Exchange under the symbol FUR. For additional information on the Company and its projects please visit our website at www.furyexplorations.com.

FURY EXPLORATIONS LTD.

Steve Vanry, CFA, President & CEO

Forward-Looking Statements: Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the corporations' periodic filings with Canadian Securities Regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. Statements in this press release other than purely historical information, including statements relating to the company's future plans and objectives or expected results, constitute forward-looking statements. Forward looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the company's business, including risks inherent in mineral exploration and development. The company does not assume the obligation to update any forward-looking statement.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Fury Explorations Ltd.
    Steve Vanry
    CFA, President & CEO
    (604) 689-1810
    (604) 689-1817 (FAX)
    Website: www.furyexplorations.com