Mayfair Gold files 43-101 technical report on Fenn-Gib

On October 14, 2025, Mayfair Gold announced it has filed a National Instrument 43-101 Technical Report for its Fenn-Gib Gold Project. This report supports the updated Mineral Resource Estimate with an effective date of September 3, 2024, which was previously announced on September 8, 2025. The filing formalizes the resource of 4.3 million ounces of gold in the Indicated category and 0.14 million ounces in the Inferred category, using a cut-off grade of 0.30 g/t Au. The report was prepared based on a higher gold price assumption of US$2,000/oz, compared to the previous US$1,765/oz, which resulted in a lower cut-off grade and a larger resource pit shell. The report will be used to support the Pre-Feasibility Study (PFS) currently underway and expected later in 2025.

The filing of the technical report is a procedural and regulatory requirement. It is Non-Material and Neutral for the stock price. The key information, specifically the updated 4.3M oz Indicated resource, was already disclosed to the market on September 8, 2025, in conjunction with the announcement of a major financing. The market's reaction would have occurred at that time.

This news simply formalizes previously released data and confirms the company is progressing as expected toward its PFS. It does not introduce new material information that would alter an investor's thesis. The key events were the resource update and the successful closing of the $40 million financing on September 16, 2025, which fully funded the company through its next phase of engineering and permitting studies. This filing is a positive confirmation of progress but is not a new catalyst.

Mayfair Gold Corp. is a Canadian mineral exploration and development company. Its flagship asset is the 100%-owned Fenn-Gib Gold Project, located in the Timmins Gold District of Northeastern Ontario. Fenn-Gib is a large, pit-constrained gold deposit with an updated NI 43-101 Indicated resource of 4.3 million ounces of gold.

The company's strategy has evolved from pure exploration to development. After a disruptive proxy battle in mid-2024 resulted in a complete board and management overhaul, the new team is focused on advancing Fenn-Gib towards production. Their plan involves completing a Pre-Feasibility Study (PFS) for a smaller-scale, 4,800 tonne-per-day "starter" operation focused on higher-grade, near-surface mineralization. This approach is intended to reduce initial CAPEX, mitigate construction risk, and accelerate the path to cash flow, while retaining the option to expand the operation in the future to exploit the full 4.3M oz resource. The property is subject to a 1.0% Net Smelter Returns (NSR) royalty held by Lake Shore Gold Corp.