Mayfair Gold(TSX:mfg)

Mayfair Gold is a Canadian gold developer advancing its 100%-owned Fenn-Gib Gold Project in Ontario through a disciplined, phased development strategy.

Investor website: https://mayfairgold.ca/

About

Mayfair Gold is a Canadian gold developer advancing its 100%-owned Fenn-Gib Gold Project in Ontario through a disciplined, phased development strategy. The Company is focused on reducing risk, lowering upfront capital, and accelerating the path to production through the Ontario provincial permitting process. Located within the Timmins Gold District, Fenn-Gib hosts a 4.3 million ounce indicated gold resource and is situated approximately 80 km from Timmins, 21 km from Matheson, and just 10 km from the Black Fox Mine (owned by McEwen Mining). The Project is accessible via Highway 101, allowing Mayfair to leverage existing access and infrastructure to efficiently advance Fenn-Gib toward production. The Fenn-Gib Gold Project is one of the most de-risked gold development opportunities in the Timmins Camp, a prolific mining region with more than 100 million ounces of historical gold production, deep infrastructure, and a strong mining services ecosystem. In January 2026, Mayfair Gold released a Pre-Feasibility Study for its Fenn-Gib gold project in Ontario, showing strong economics with a $652M after-tax NPV, 24% IRR, and a 2.7-year payback period based on a $450M initial capital investment, projecting an average of ~64,000 oz of gold per year over a 14.3-year mine life. Mayfair is committed to the responsible development of the Fenn-Gib gold project, with a commitment to health, safety, and environmental stewardship. As part of that commitment, the Company will endeavor to build relationships based on trust and mutual respect with the Indigenous nations and communities in which we operate, with the goal of unlocking the value of Fenn-Gib in a collaborative approach. Mayfair is led by an experienced team with a background in capital markets and technical expertise. The team has a proven track record of recognizing opportunity and unlocking value through the execution and advancement of development stage mining assets into production. 35% insider ownership creates significant shareholder alignment. We believe in the potential of the Fenn-Gib Project and the value that can be created by advancing development stage assets to production.

Verified company data

Cash position
5,400,350
Shares outstanding
133,595,191
Fully diluted shares
66,797,595
Mineral resource
The Fenn-Gib Mineral Resource estimate is as follows: Indicated Gold Resource: 4.3 Million Ounces; Inferred Gold Resource: 0.1 Million Ounces. The effective date of this updated mineral resource estimate is September 3, 2024. The assay cut-off date for drill holes included in the mineral resource was April 30, 2024. All mineral resources have been estimated in accordance with Canadian Institute of Mining and Metallurgy and Petroleum (CIM) definitions, as required under National Instrument (NI) 43-101. Mineral Resource Statement prepared by Tim Maunula, P. Geo (T. Maunula & Associates Consulting Inc.) in accordance with NI 43-101. Mineral Resources reported demonstrate reasonable prospect of eventual economic extraction, as required under NI 43-101. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. The Mineral Resources may be materially affected by environmental, permitting, legal, marketing, and other relevant issues. Mineral Resources are reported at a cut-off grade of 0.30 g/t Au for an open-pit mining scenario using a 50° pit slope angle. Cut-off grades are based on a price of US$2,000/oz gold, and an open pit mining cost of $3.25/t, process cost of $15.50/t and G&A $2.00/t. Metallurgical recovery of 94% was used. Ounce (troy) = metric tonnes x grade / 31.10348. All numbers have been rounded to reflect the relative accuracy of the estimate. The quantity and grade of reported Inferred Resources are uncertain in nature and there has not been sufficient work to define these Inferred Resources as Indicated or Measured Resources. It is reasonably expected that many of the Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
Projects
["Fenn-Gib Gold Project, Ontario, Canada: The Fenn-Gib Gold Project is located in the Timmins Gold District, Ontario, Canada. Ownership is 100%. The indicated gold resource is 4.3 million ounces, and the inferred gold resource is 0.1 million ounces. The project has a higher-grade starter zone with a gold grade of >1.5 g/t gold achieving a metallurgical recovery of 88.4%, and for >0.8 g/t gold, the recovery is 82.5%. The 2026 Pre-Feasibility Study outlines a strategy to reduce execution risk and prioritize high-margin material early in the mine plan, with an estimated initial capital expenditure of $450 million. The project plans to advance three key strategies in parallel: Ontario-led environmental approvals, Indigenous agreements, and engineering-design-procurement. The average annual gold production is expected to be 71.3 koz over the first 6 years, with a total life of mine production of 920 koz over 14.3 years. The project is expected to achieve commercial production within a five-year timeframe."]
Leadership
Drew Anwyll (COO, Professional Engineer with over 30 years of experience in project and operations in Canada and globally. Previously worked with Generation Mining, Detour Gold, Barrick Gold, and Placer Dome, contributing to multiple mine start-ups and operations.)

Verified data last updated: 2026-05-15

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