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Mayfair Gold Updates on Fenn-Gib Gold Project for Q1 2026

Vancouver, BC – Mayfair Gold Corp. has released an update detailing substantial progress made during the first quarter of 2026 at the Fenn-Gib Gold Project in Northern Ontario. This update highlights a disciplined approach to advancing the project while mitigating risks as it moves towards development. According to Nick Campbell, President and CEO, the advancements demonstrate a commitment to a clear execution strategy, which entails meticulous planning and teamwork.

The progress noted in Q1 has been pivotal for maintaining momentum as the company transitions into critical phases of engineering, environmental assessments, and regulatory engagements. The company aims for a construction decision by 2028, keeping ahead of its peers in the mining sector.

Key Progress Points

1. Environmental Baseline Study: The integration and analysis of environmental baseline studies commenced in 2023 were furthered during Q1 2026. This work involved compiling studies regarding fish habitats, hydrology, wildlife, and vegetation into cohesive technical packages. This will form the foundation for applications under Ontario's regulatory framework.

2. Notification of Project Status: Mayfair Gold submitted the Notification of Project Status (NPS) to advance the project towards production, expecting formal requirements from the Ministry of Energy and Mines (MEM). The feedback from MEM will help refine the permitting strategy to engage Indigenous communities effectively.

3. Environmental Assessment Mandate Awarded: In Q1, Egis Canada Ltd. was contracted to manage the Environmental Assessment (EA) and permitting processes. This company will support the preparation of regulatory submissions and facilitate continued engagement with stakeholders, including Indigenous communities.

4. Highway 101 Realignment: The preliminary environmental assessments for the Highway 101 realignment began. Collaboration with the Ministry of Transportation of Ontario will evaluate potential routes and study environmental impacts, essential for finalizing alignment strategies.

5. Extended Site Investigations: Mayfair initiated comprehensive site investigation programs, resuming geotechnical fieldwork started in 2025 to assess locations for the tailings storage facility and related site infrastructures. Additionally, condemnation drilling aimed to confirm the absence of mineralization for planned structural areas.

6. Groundwater Studies: Pump testing activities were conducted to understand groundwater conditions across the project area. The outcomes of these tests are critical for site engineering, informing models to predict pit dewatering requirements and interactions with regional water bodies.

7. Front-End Engineering and Design: The company engaged Ausenco Engineering for Front-End Engineering and Design (FEED) of the planned processing facility, aiming to streamline processes and solidify project design criteria ahead of detailed engineering phases later in the year.

Next Steps Moving Forward

In addition to the accomplishments of Q1, Mayfair aims to:

• - Conduct metallurgical testing to further verify comminution circuit designs.
• - Advance the drilling program for a Mineral Resource Estimate (MRE), with all assays from 2025 now received and analyzed.
• - Continue site investigations, focusing on geotechnical drilling and material characterization.
• - Collaborate with TWD Engineering to finalize the power supply strategy for the project, ensuring its viability.
• - Prepare for additional open pit geotechnical drilling towards enhancing slope stability and optimization.

Throughout 2026, Mayfair Gold is dedicated to expanding its core team and enhancing stakeholder engagement. These efforts are focused on successfully navigating the permitting process and preparing for construction commencement. Considering the promising fundamentals outlined in this update, Mayfair Gold's Fenn-Gib Project appears well-positioned to emerge as a significant new Canadian gold producer by 2030.

Closing Remarks

The successful progression of the Fenn-Gib Gold Project reflects Mayfair Gold's commitment to responsible mining practices and community engagement. Through dedicated teamwork and strategic planning, the company is setting a strong foundation for its future, aiming for sustainable growth and valuable contributions to the regional economy.