Mayfair Gold Corp.

Investor insight

Mayfair Gold is advancing its 100 percent owned Fenn-Gib gold project towards production, with a development plan anchored by a robust pre-feasibility study (PFS) from 2026. The company’s strategy emphasizes a smaller-scale mine designed to accelerate permitting through Ontario’s One Project One Process platform and exploit high-margin surface ounces in a capital-efficient manner. The PFS equates to only 24 percent of the indicated gold resource, providing meaningful opportunities for long-term growth coupled with exploration benefits across a broader land package.

Overview

Mayfair Gold (TSXV:MFG,NYSE American:MINE) is a development-stage company whose primary purpose is to advance the Fenn-Gib gold project: a large, large-tonnage open-pit mine deposit located in one of Canada’s most productive gold districts. The company’s technical team conducts provincial permitting, Indigenous consultations, engineering and ongoing exploration to expand mineralization beyond current mining limitations.

Company Highlights

• Robust feasibility study: The 2026 PFS highlights compelling returns on a modest initial throughput design, while leveraging a large resource base.
• High-quality early focus: The phased plan focuses on higher quality material located on the surface to optimize permitting times, construction risk and financing and ultimately accelerate value capture.
• Strategic location: Fenn-Gib is located in the promising Timmins Gold District, Ontario – a premier mining jurisdiction with an established infrastructure and a long history of mining-related activities and supportive communities.
• Strong financial support: The company has a committed shareholder base including Muddy Waters, Heeney Capital, Oaktree and Vestcor. With a tight share structure and strong Insider ownership of 35%, there is a clear alignment with creating long-term shareholder value.
• Exploration optionality: Mineralization at Fenn-Gib remains open at depth and on strike, with multiple underexplored targets identified across the property. This includes a southern block that has not yet been explored but lies directly on the prolific Porcupine-Destor fault.
• Long term optional: With a shortened production lead time, the company will be well-positioned for growth initiatives that can be financed with free cash flow.
• CEO Nick Campbell, leads a technically strong and capital markets-focused team with a proven ability to unlock value from high-quality gold assets (formerly at Artemis Gold and Silvercrest Metals) and position projects for long-term growth.
• COO Drew Anwyll is an experienced miner; he successfully authorized the Marathon PGM project in Ontario and was a senior executive during the construction, commissioning and start-up of Detour Lake, Canada’s largest gold mine.

Key project

Fenn-Gib Gold Project

Fenn-Gib is Mayfair’s flagship asset and includes a major mineral resource of 181.3 million tonnes, with a gold grade of 0.74 g/t for 4.3 million ounces, and additional inferred ounces. The project benefits from excellent access via Highway 101 and proximity to regional mining services.

The 2026 PFS focuses on a 4,800 tonnes per day open pit operation designed to process approximately 1.04 million ounces of gold, representing 24 percent of the total resource and reflecting a conservative, execution-oriented approach. Highlights from the study include:

• After-tax NPV (5 percent) of C$652 million and IRR of 24 percent at a base case gold price of US$3,100/oz.
• After-tax NPV of C$1.37 billion and IRR of 38 percent at current spot gold prices.
  Payback period of 2.7 years on initial capital costs in the base case (payback period of 1.7 years at January 2026 prices)

Exploration potential

Beyond the defined well scale, Fenn-Gib hosts multiple zones, including the main zone, deformation zone and footwall zone, with geological continuity extending along strike and at depth. Newly identified targets such as the Southern Block along the Porcupine Destor Fault provide opportunities for future discovery drilling and resource expansion.

Management team

Nicholas Campbell – CEO

Nicholas Campbell is a mining executive with more than twenty years of experience in capital markets, business development and mine development. Before joining Mayfair, he was vice president of Capital Markets at Artemis Gold, executive vice president of business development at SilverCrest Metals and chief financial officer of Goldsource Mines. Campbell leads Mayfair’s strategic vision and execution as the company moves Fenn-Gib into a defined phase of development.

Drew Anwyll – Chief Operating Officer

Drew Anwyll is a professional engineer with over 30 years of global mining experience in both project and operational leadership. His background includes senior technical and operational roles at Generation Mining, Detour Gold, Barrick Gold and Placer Dome. Anwyll’s track record includes leadership throughout the permitting, construction, commissioning and operational phases, anchoring Mayfair’s operational planning and execution.

Zayem Lakhani – Vice President, Capital Markets

Zayem Lakhani brings more than 17 years of expertise in investment management, equity research and business development. Before joining Mayfair, he was a portfolio manager and head of Canadian equities at HSBC Global Asset Management, where he oversaw the investment process for approximately $4 billion of capital across various strategies. Lakhani brings a unique network and an investor’s perspective to help position the company’s story.

Darren Prins – Interim Chief Financial Officer

Darren Prins is a senior financial director with extensive experience in business development, capital markets, mergers and acquisitions, financial reporting, risk management, budgeting, forecasting and international tax planning. Prins has served as CFO for TSX, TSXV and NYSE listed companies across multiple industries, bringing strong financial stewardship to Mayfair’s financing and reporting functions.