Announcement • May 23
Mayfair Gold Corp. Advances District-Scale Exploration Strategy
Mayfair Gold Corp. announce that it is initiating a regional exploration program across its Timmins camp land package, following the acquisition of the Guibord, Marriott, and Holloway properties and the continued advancement of exploration at the South Block. These properties complement the Company's flagship Fenn-Gib Gold Project, which hosts a 4.3 million ounce indicated mineral resource of gold (181.3Mt at an average grade of 0.74 g/t) and was advanced toward development through a positive Pre-Feasibility Study (the "PFS") released in January 2026. The consolidated land package is located along and adjacent to the Porcupine–Destor Fault Zone ("PDFZ"), one of the most prolific gold-bearing structural corridors in the Abitibi Greenstone Belt. This consolidation positions Mayfair to systematically evaluate a district-scale land package along a well-endowed segment of the corridor. Strategic Highlights:
Regional exploration program initiated to test the high-conviction PDFZ, with the goal of enhancing mineral resource scale and growth opportunities, Previous drilling confirms structurally controlled gold mineralization, including high-grade intervals exceeding 5 g/t Au, Pipeline of targets advancing toward Phase 1 drill testing via a staged approach to maximize capital efficiency, Prioritize higher-grade potential for processing at the planned Fenn-Gib operation to improve projected return on invested capital, as highlighted in the 2026 PFS. ayfair's regional properties are located within a well-endowed segment of the PDFZ that hosts a range of gold deposit styles, including high-grade systems. hese include the Black Fox Mine, a high-grade underground gold operation within the Timmins camp, as well as the past-producing Croesus Mine, historically recognized for high-grade gold mineralization, with reported historical production averaging approximately 95 g/t Au from quartz vein systems *(ODM Vol. LX, Part VIII, 1951).Gold mineralization within the corridor is commonly associated with shear zones and quartz-carbonate vein systems developed along secondary splays and flexures of the deformation corridor, commonly at contacts between volcanic units and sedimentary rocks. Structural complexity, competency contrasts, and localized dilation zones are interpreted to be important controls on higher-grade mineralization within the district. The Company believes the consolidated land package provides exposure to multiple underexplored structural corridors prospective for both bulk-tonnage and high-grade gold mineralization. The South Block comprises 1491 hectares and covers 6.4 kilometres of strike length along the PDFZ. The property is situated between McEwen Mining Inc.'s Fox Complex and STLLR Gold Inc.'sTower Gold Project, both of which host multiple gold deposits along the PDFZ . The South Block represents a structurally prospective and underexplored portion of Mayfair's land package, where favourable stratigraphy and structural complexity coincide with limited modern drilling. While portions of the North Block have been extensively drilled and form the basis of the current mineral resource estimate, exploration across the South Block remains at an early stage. Modern drilling on the South Block has comprised 27 diamond drill holes totaling approximately 5,700 metres targeting gold mineralization, excluding earlier kimberlite testing. The 2022 program tested two primary gold target areas, while the 2024 program advanced drilling across multiple structurally defined targets identified through integrated geophysical and geological interpretation. Recent drilling has confirmed the presence of structurally controlled gold mineralization across multiple targets, including repeated intervals exceeding 0.5 g/t Au and narrow higher-grade intervals exceeding 5 g/t Au, with the best reported assay of 12.7 g/t Au over 0.5 metres. Mineralization is associated with shear zones and quartz-carbonate veining developed along secondary structures, consistent with orogenic gold systems in the Timmins camp. In addition to the South Block, Mayfair continues to evaluate multiple regional exploration targets across the North Block and broader property package, including the Johns-Manville trend, American Eagle, G-101, and Central Syenite target areas. Historical exploration at American Eagle reportedly returned grab samples up to 42.0 g/t Au proximal to the Pipestone Fault, while drilling at the G-101 target reportedly returned intersections including 4.47 g/t Au over 13.2 metres, including 13.56 g/t Au over 2.77 metres. Historical drilling at the Central Syenite target also reportedly returned high-grade gold mineralization, including intervals up to 19.55 g/t Au over 1.7 metres associated with intrusive-related structural targets. At Guibord, historical drilling intersected 265 g/t Au over 0.50 metres in hole G09-01 associated with a syenite dyke and visible gold (see Plato Gold PR Dec. 22, 2009), while previous operators tested the North Zone returning an intersection of 8.22 g/t Au over 2.1 metres, including 13.7 g/t Au over 1.22 metres. These targets remain relatively underexplored and represent potential opportunities for additional gold discoveries beyond the existing Fenn-Gib resource area.Mayfair is advancing a phased exploration program using a staged approach designed to maximize capital efficiency, incorporating the integration of historical and modern datasets, refinement of structural controls on mineralization, and target generation across its regional Timmins camp properties. The program focuses on advancing priority targets toward Phase 1 drill testing while prioritizing high-grade targets that may offer production advantages within the Fenn-Gib deposit. This strategy is intended to systematically evaluate the Company’s expanded land position and prioritize high-quality exploration opportunities. Initial work programs are already underway and include field mapping and validation of geological and geophysical targets, structural interpretation and refinement of priority zones, surface geochemical sampling in target areas, and potential Induced Polarization or other geophysical surveys, with priority targets progressing toward follow-up drilling; Mayfair expects exploration activities to continue throughout 2026 as it advances key targets across its regional Timmins camp land package.
