Fury Receives C$3,237,000 on Exercise of Warrants
18 Marzo 2008 - 6:08PM
Marketwired
VANCOUVER, BRITISH COLUMBIA (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.
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.
Contacts: Fury Explorations Ltd. Steve Vanry, CFA President
& CEO (604) 689-1810 (604) 689-1817 (FAX) Website:
www.furyexplorations.com
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