Fury Explorations Ltd.

Fury Explorations Ltd.

March 18, 2008 13:08 ET

Fury Receives C$3,237,000 on Exercise of Warrants

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 18, 2008) - Fury Explorations Ltd. (the "Company") (TSX VENTURE:FUR) reports that 5,395,000 common share purchase warrants with an expiry of March 13, 2008 have been exercised for gross proceeds of C$3,237,000. A total of 78% of the warrants from the maturing tranche were exercised.

The majority of proceeds will be used in redevelopment activities currently underway at the Company's Nevada based Taylor silver mine and mill. Restarting silver production at Taylor remains within the estimated timetable established by the Company and is Fury's top priority (see October 30, 2007 press release for production timetable).

The Company now has 31,407,443 shares outstanding and working capital of C$5.4 million.

About Fury Explorations

Fury Explorations is a silver focused exploration and development company uniquely positioned to become a near-term, silver producer. The Company's Nevada based Taylor project is expected to enter commercial production during Q1 2009 without the need for significant capital expenditure and is the center piece of the Company's strategy for internally funded growth and discovery. In addition to pre-production activities at Taylor, the Company is assembling and exploring a pipeline of several early stage, prospective silver concessions in Mexico.


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