Mayfair Gold Files Technical Report for Fenn-Gib Gold Project

Executive Summary

• Mayfair Gold filed an NI 43‑101 technical report updating the Fenn‑Gib gold project’s mineral resource estimate with an effective date of 3 Sept 2024.
• The updated estimate increases the cut‑off grade to 0.30 g/t Au (down from 0.40 g/t) and expands the pit shell footprint, reflecting a higher assumed gold price of US$2,000/oz.
• Resulting resources: Indicated – 181.3 M t at 4.3 Moz (0.74 g/t Au); Inferred – 8.92 M t at 0.14 Moz (0.49 g/t Au).

Key Details

• Technical report prepared by T. Maunula & Associates Consulting Inc. and Haggarty Technical Services Corp., filed in accordance with NI 43‑101.
• Prior NI 43‑101 report dated 26 Jul 2023; this update supersedes it.
• Gold price assumption increased from US$1,765/oz to US$2,000/oz, lowering the cut‑off grade from 0.4 g/t Au to 0.3 g/t Au.
• Mineral resource totals (effective 3 Sept 2024):
• Indicated: 181.3 million tonnes, 4.3 Moz Au, 0.74 g/t Au.
• Inferred: 8.92 million tonnes, 0.14 Moz Au, 0.49 g/t Au.
• Metallurgical testing results and processing details added (referencing prior release of 27 May 2025).
• Updated resource estimate will support a pre‑Feasibility Study (PFS) currently underway, expected later in 2025.

Notable Quotes

(No direct quotes included in the release.)