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Mayfair Gold Reports Progress on Fenn-Gib Gold Project Development

Mayfair Gold Corp. has released a comprehensive update regarding the Fenn-Gib Gold Project, a significant venture in Northern Ontario. This update highlights several key developments, including the ongoing mineral resource drilling program, geotechnical site investigations for the tailing storage facility, and progress on the anticipated pre-feasibility study (PFS).

Pre-Feasibility Study on Target for Q4 2025 Completion

The company is diligently working towards completing the pre-feasibility study, scheduled for release in the fourth quarter of 2025. This study will build upon the most recent updates of the National Instrument 43-101 compliant mineral resource estimate, which focuses on high-grade mineral deposits.

The mining strategy is centered around open pit operations that target near-surface, high-grade mineralization. This approach aims to enhance early-stage cash flow by maximizing feed grades to the proposed processing facility. The use of conventional drill-and-blast procedures, along with a robust truck and shovel fleet, is planned to ensure effective resource extraction.

By adopting an elevated cut-off grade strategy that concentrates on these high-grade zones, Mayfair Gold hopes to boost the project's short-term economics while maintaining the overall resource integrity. Notably, the current gold prices hovering above C$5,000 per ounce position the Fenn-Gib project favorably within the current market cycle.

High-Density Drilling Program Underway

In addition to the ongoing PFS, Mayfair Gold has initiated a high-density diamond drilling program aimed at optimizing the mine design and development. This program comprises 56 vertical holes drilled at a 10-meter spacing and extends about 75 meters deep. The focus is on delineating the near-surface high-grade mineralization set to be extracted during the project's early operational years. The dedicated approach to this drilling is designed to enhance confidence in the geological model and reduce risks associated with the project's development.

To execute this phase of the project, Mayfair has employed Black Diamond Drilling, a competent contractor operating under the auspices of the Apitipi Anicinapek Nation. Drilling commenced on October 21, 2025, and is expected to continue into December.

Tailing Storage Facility Site Investigations

Concurrent with the drilling activities, additional geotechnical site investigations for the tailing storage facility (TSF) have been completed. This program included extensive exploration with 25 test pits and drilling across 10 holes, resulting in 347 meters of data collection around the TSF's intended footprint. This investigation, managed by Knight Piesold, focuses on gathering critical geotechnical and hydrogeological data to refine the design of the TSF and mitigate risks associated with project execution.

Drew Anwyll, Chief Operating Officer, emphasizes the importance of the TSF investigations, stating that a thorough understanding of the site conditions is paramount for the project's success. He noted that these foundational components, while often overlooked, significantly contribute to effective project execution and risk management.

Future Developments and Expectations

As Mayfair Gold advances the Fenn-Gib project towards production, the management remains optimistic about the outcomes of the PFS and the implications for future growth. With escalating demand for gold and positive reception from the investment community, the company is well-positioned to emerge as a new player within the Canadian gold production landscape.

With the anticipated release of the pre-feasibility study, stakeholders can look forward to a more concrete timeline and projections regarding the project's future viability. Mayfair Gold's strategic focus on efficient resource management and adherence to regulatory frameworks paves the way for a successful transition into production, potentially unlocking significant economic value for the company and its investors.