Mayfair Gold’s Fenn-Gib: Fast-Track to Production Success

Investor Insight

Mayfair Gold’s Fenn-Gib project is a scaled resource with a plan to get into production fast via Ontario’s One Project, One Process permitting framework. Recent drilling validates a high-grade starter zone that backstops attractive economics with free cash flow that can then be used towards organic growth. Mayfair has the combination of tier 1 jurisdiction, derisked geology and a management team with 35 percent insider ownership and a track record of taking development stage assets into production.

Overview

Mayfair Gold (TSXV:MFG,NYSE American:MINE) is a development-stage company with the primary objective of advancing the Fenn-Gib gold project — a large, bulk-tonnage open-pit deposit located in one of Canada’s most prolific gold districts. The company’s technical team is executing on provincial permitting, Indigenous consultation, engineering and ongoing exploration to expand mineralization beyond the current pit constraints.

Mayfair Gold’s flagship Fenn-Gib gold project is located within the established Timmins Gold District in Ontario, which has produced more than 100 million ounces of gold historically.

The PFS, prepared in accordance with NI 43-101 standards and filed in January 2026, outlines a base-case economic model with an after-tax NPV (5 percent) of C$652 million and an IRR of 24 percent, using conservative gold prices, and demonstrates rapid payback potential. Under a spot price scenario, project economics improve markedly, underscoring the asset’s leverage to higher gold prices. With over $200 million in annual free cash flow, once in operation, the company will have a robust source of capital to fund growth initiatives.

The Fenn-Gib Project was recently de-risked with the initial results from the Grade Control Drilling Program, which confirmed confidence in the highest-grade, early years of the mine and validated the PFS early-year assumptions. This program, which is generating critical mining-scale data on ore geometry and dilution, also provides important information to advance project financing and enhance confidence for potential lenders.

Company Highlights

• Robust Pre-feasibility Study: The 2026 PFS highlights compelling returns with a sub 2 year payback on a modest initial throughput of 5,000 tpd designed to go through accelerated provincial permitting. Following production in 2030, Mayfair expects to generate $1.4 B in free cash flow in the first six years, that can be used towards growth opportunities.
• High-grade Early Focus: The initial minetargets higher-grade, near-surface material to optimize permitting timelines, construction risk, financing, and ultimately accelerate value capture. Grade Control drilling…