MAYFAIR GOLD REPORTS Q2 2026 OPERATING AND FINANCIAL RESULTS

Mayfair Gold Corp. (MFG) reported second-quarter 2026 operating and financial results for the period ended June 30, 2026. The release did not include the company’s Q2 income statement, balance sheet, cash flow, net loss, or cash balance, directing readers instead to SEDAR+, EDGAR, and the company website for the full statements and management’s discussion and analysis.

The announcement primarily served as a corporate overview restating previously disclosed figures from the Fenn-Gib Preliminary Feasibility Study (PFS). These figures include a 4.3 million ounce indicated resource and a 1.0 million ounce probable reserve grading 1.29 grams per tonne of gold. The project carries a C$450 million initial capital expenditure estimate, a 2.7-year payback period, and US$896 million in cumulative free cash flow over the first six years at a gold price of US$3,100 per ounce.

Construction is targeted for 2028, with initial production slated for 2030. The release also pointed to a July 23, 2026, Q2 project update for operational details, adding no new technical or permitting disclosure.

Mayfair Gold Corp. (MFG) issued a release formatted as an earnings update, though it did not present actual Q2 financial results. The provided as-reported financial table stops at Q1 2026, FY2025, and Q3 2025, meaning today’s reported period cannot be independently assessed from the data supplied.

Prior-period context not disclosed in today’s release shows that Q1 2026 net loss was C$7,321,839, operating cash flow was negative C$6,807,219, and cash was C$32,306,392 at March 31, 2026. This indicates meaningful cash burn, but the August 12 release provides no updated June 30 cash figure.

No change to resource, reserve, capex, payback, construction start, production target, or financing was announced. No new financing, strategic investment, permit decision, drill result, or M&A closure was disclosed.

Mayfair Gold Corp. (TSXV: MFG; NYSE American: MINE) is a Canadian development-stage gold company focused on its 100%-controlled Fenn-Gib Project in the Timmins region of Northern Ontario. The project hosts an indicated resource of 4.3 million ounces of gold, comprising 181.3 million tonnes at 0.74 grams per tonne of gold.

The 2026 Preliminary Feasibility Study (PFS) targets a probable mineral reserve of 25.1 million tonnes at 1.29 grams per tonne of gold, equivalent to approximately 1.0 million ounces. Under the PFS base case, initial development capital is estimated at C$450 million, with a payback period of 2.7 years and cumulative free cash flow of US$896 million over the first six years at a gold price of US$3,100 per ounce. In a spot case scenario at US$4,450 per ounce, the project yields an after-tax net present value (NPV) of C$1.37 billion, an internal rate of return (IRR) of 38%, and a payback period of 1.7 years.

The development timeline targets construction completion in 2028 and initial production in 2030.