Announcement • Jun 18

Mayfair Gold Corp Reports Final Results and Analysis from Grade Control Drilling Program

Mayfair Gold Corp. reported final results and evaluation of the tight-spaced Grade Control (GC) drilling program. Grade Control program tested approximately 1.0 million tonnes of the probable mineral reserves from the 2026 Pre-Feasibility Study (the PFS), about 25% of Phase 1. Reserve model validated in test area. At a 0.8 g/t Au cut-off grade, the Grade Control model returned the similar grade as the reserve model, with approximately 2% more contained metal. 28% more tonnes at 7% higher grade for material above 3.0 g/t Au. De-risking of early years' high-grade feed and cash flow profile. Improved confidence in early cash flows will facilitate project financing discussions with counter parties. Potential to bring forward higher-grade production. Mayfair Gold reports positive results from the analysis of the grade control (GC) program completed in late 2025 at the Fenn-Gib Project, confirming approximately 1 million tonnes of ore-grade material that was categorized as probable reserves in the PFS, or roughly 25% of the Phase 1 planned design. The program was designed to validate the distribution and continuity of mineralization and refine planning assumptions related to ore shapes, dilution and ore loss. Previous, interim results were released in the News Release dated February 11, 2026. The program gives confidence that the high-grade material scheduled for the early years of the mine plan is present and can be delivered as modeled. Grade control drilling has also identified the potential strengthening of the early production profile by utilizing more tonnes of a higher-grade material. The results, analysis and conclusions from the Grade Control program are specific to the area tested. The program included 56 diamond drill holes to a nominal depth of 75 metres, designed to simulate the outcomes of a reverse circulation or blast-hole GC program. Gold grades were estimated in a block model and mineable ore shapes were developed to assess the tonnage and grade of material that could be classified for production. Results from the program confirmed the mineral reserve model and metal content in the area tested while providing valuable information of contacts between high- and low-grade material. For material above a 0.80 g/t gold cut-off grade (COG), the GC model returned similar grade and 2% more tonnes than predicted by the probable reserve model. For the higher-grade portion, above a 3.0 g/t Au COG, the GC model identified 28% more tonnes at 7% higher grade, representing 37% more gold than the probable reserve model for the GC drilling test area. The findings support the accuracy of the mineral reserve block model in the Stage 1 starter pit area tested and validate the higher-grade component of the mineral reserve for mine planning. The results also suggest there may be opportunities to process higher-grade ore earlier in the initial mining sequence. The drilling campaign was completed on a 10-by-10 metre spacing across an area measuring 60 by 70 metres. All NQ-size holes were planned as nominally vertical holes to a depth of 75 metres. Overburden thickness encountered during the program ranged from 5.7 to 13.0 metres and averaged 8.7 metres. All core was logged and sampled, with one half submitted for gold assay and the other retained for reference. Assays were completed on one-metre intervals to capture close-spaced variability and support compositing analysis. Gold assay procedures and QA/QC protocols were consistent with previous Mayfair drilling programs and are summarized in the QA/QC section. Three holes, totalling 78 metres, were abandoned because of excessive downhole deviation and were redrilled from the same locations. A defined test area surrounding the grade control drilling was used to compare new assay data with the existing exploration database. Within that area, average gold grades were identical at a zero COG. The new grade control drilling returned a slightly higher proportion of material below 0.30 g/t Au, while material above a 0.80 g/t Au COG showed a similar tonnage distribution and a modestly higher grade. The program targeted approximately 1.0 million tonnes of probable mineral reserves from the PFS. To evaluate the conversion of the mineral reserve model into a production model, all GC assays were composited to 1.5 metres and estimated on five-cubic-metre blocks using an inverse distance squared methodology. Mineable ore shapes were then designed to reflect practical open-pit mining conditions. This methodology therefore addresses the conversion of a reserve to a production model by addressing the minability of economic material. These results indicate that, in areas of similar ore characteristics, the current mineral reserve model should provide sufficient definition for mine planning without requiring significant additional dilution, ore loss assumptions or conversion factors. The Company believes the program also highlights the potential to bring forward some gold production by identifying zones of higher-grade material that may be processed earlier in the mine sequence. The program demonstrated that tighter-spaced grade control drilling can enhance confidence in ore boundary definition while confirming the reliability of the existing mineral reserve model in the area tested. Mayfair is evaluating the potential for a second GC test area to assess whether similar results can be replicated in other ore types across the project. Furthermore, the program highlighted areas of higher-grade material and may potentially allow for processing while deferring lower grade tonnes, thus bringing forward some gold production. These results further indicate that, for areas with similar ore behavior as the area tested, the reserve model is an excellent indicator of what the project can expect from production. Mayfair Gold maintains a Quality Assurance/Quality Control (QA/QC) program aligned with NI 43-101 requirements and industry best practices. NQ-size surface drilling was carried out by Black Diamond Drilling of Matheson, Ontario, under the supervision of Mayfair Gold's exploration team. The drill program includes detailed geological logging and systematic sampling of drill core at Mayfair's secure facility in Matheson, Ontario. Drill core selected for analysis was cut longitudinally using a diamond-blade saw. One half of the core was retained in the core box for reference, and the other half was bagged, sealed, and prepared for shipment.

CEO salary percentage	27.37%
CEO tenure	less than a year
CEO ownership	0.3%
Management average tenure	less than a year
Board average tenure	2yrs

Date	Total Compensation	Salary	Company Earnings
Mar 31 2026	n/a	n/a	-CA$15m
Dec 31 2025	CA$1m	CA$325k	-CA$10m

Name	Position	Tenure	Compensation	Ownership
Edward William Anwyll	Chief Executive Officer	less than a year	CA$1.19m	0.29% $ 446.6k
Kevin Annett	Chief Financial Officer & Corporate Secretary	less than a year	no data	0.18% $ 270.7k
Adree Delazzer	Vice President of Exploration	less than a year	no data	no data

Name	Position	Tenure	Compensation	Ownership
Carson Block	Independent Director	2yrs	no data	no data
Darren McLean	Independent Chair	2yrs	no data	1.12% $ 1.7m
Sean Pi	Independent Director	2yrs	no data	5.96% $ 9.1m
Christine Hsieh	Independent Director	2yrs	CA$25.00k	0.043% $ 66.4k
Zach Allwright	Independent Director	2yrs	CA$25.00k	no data

Data	Last Updated (UTC time)
Company Analysis	2026/06/28 11:28
End of Day Share Price	2026/06/26 00:00
Earnings	2026/03/31
Annual Earnings	2025/12/31

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

Mayfair Gold Management

Management criteria checks 1/4

Key information

Recent management updates

Chief Executive Officer recently bought US$188k worth of stock

Mayfair Gold Corp. Appoints Ayaz Kassam to Director of Projects

Mayfair Gold Corp. Announces CEO Changes

Key Executive recently bought US$37k worth of stock

Mayfair Gold Corp., Annual General Meeting, Jun 25, 2026

Key Executive recently bought US$52k worth of stock

Recent updates

Chief Executive Officer recently bought US$188k worth of stock

Mayfair Gold Corp Reports Final Results and Analysis from Grade Control Drilling Program

Mayfair Gold Corp. Appoints Ayaz Kassam to Director of Projects

Mayfair Gold Corp. Advances District-Scale Exploration Strategy

Mayfair Gold Corp. Announces CEO Changes

Key Executive recently bought US$37k worth of stock

Mayfair Gold Corp., Annual General Meeting, Jun 25, 2026

Mayfair Gold Corp. announced that it has received CAD 0.25404 million in funding

Key Executive recently bought US$52k worth of stock

Mayfair Gold Corp. Appoints Kevin Annett as Chief Financial Officer, Effective April 7, 2026

Chief Operating Officer recently bought US$120k worth of stock

Mayfair Gold Corp. Announces the Initial Results from the 2025 Grade Control Drilling Program At the Fenn-Gib Project in Northern Ontario

Mayfair Gold Corp. Submits Fenn-Gib Gold Project Notice of Project Status

High number of new and inexperienced directors

Mayfair Gold Corp. Delivers Robust Pre-Feasibility Study for the Fenn-Gib Gold Project

Mayfair Gold Corp. announced that it has received CAD 35.00145 million in funding from Oaktree Capital Management, L.P. and other investors

Mayfair Gold Corp., Annual General Meeting, Sep 04, 2025

Mayfair Gold Corp. Provides Details on Open Pit Design Consideration and Confidence Drill Program to Support Preparation of Fenn-Gib Pre-Feasibility Study

Mayfair Gold Corp. Provides Update on 2025 Metallurgical Test Results Supporting the Fenn-Gib Pre-Feasibility Study

Mayfair Gold Names Drew Anwyll as Chief Operating Officer, Effective March 1, 2025

Mayfair Gold Corp Announces CEO Changes

Mayfair Gold Corp. announced that it has received CAD 6.012 million in funding from Muddy Waters Capital LLC and other investors

Mayfair Gold Corp. announced that it expects to receive CAD 6.012 million in funding from Muddy Waters Capital LLC and other investors

Mayfair Gold Corp. Reports Mineral Resource Estimate At Fenn-Gib Gold Project

Mayfair Gold Corp. Announces Board Changes

Mayfair Gold Corp. Announces CFO Changes

Mayfair Gold Corp. Approves Management Appointments

Mayfair Gold Corp. Defeats Muddy Waters Capital LLC's Meritless Lawsuit

Mayfair Gold Corp. Obtains Ex Parte Order by Muddy Waters Capital LLC in the Supreme Court of British Columbia

Mayfair Gold Corp. Provides Update on Fenn-Gib Gold Project

Mayfair Gold Corp., Annual General Meeting, Jun 05, 2024

Mayfair Gold Corp. Announces Further Drill Results from the Higher-Grade Footwall Zone Located Approximately 100 Meters to the Northwest of the Fenn-Gib Gold Deposit

Muddy Waters Releases Letter to Shareholders of Mayfair Gold

Mayfair Gold Corp Receives a Notice from Muddy Waters Capital LLC

Mayfair Gold Corp. Announces Resignation of Sean Pi as Director

Mayfair Gold Drills 3.14 g/t Au Over 10.0m Including 15.94 g/t Au Over 1.0m at Fenn-Gib Footwall Zone

Mayfair Gold Corp. Announces Successful Completion of Fenn-Gib Geotechnical Study

Mayfair Gold Corp. announced that it expects to receive CAD 10.9977 million in funding

Mayfair Gold Corp. Announces Further Drill Results from the Higher-Grade Footwall Zone Located Approximately 100 Meters to the North of the Fenn-GIB Gold Deposit

Mayfair Gold Corp. Makes New Discovery At Fenn-Gib Gold Project

Mayfair Gold Corp. Reports Positive Results from Ongoing Metallurgical Testing

Mayfair Gold Corp. Completes Fenn-Gib Geotechnical and Hydrogeology Field Campaign

Mayfair Gold Corp. Fenn-Gib Project Maintains Carbon Neutrality for 2022

Mayfair Gold Corp. Increases Fenn-Gib Open-Pit Indicated Resource Estimate to 3.38M Ounces and Reports Inferred Resource of 0.16M Ounces

Mayfair Gold Corp. announced that it has received CAD 3.02575 million in funding from Muddy Waters Capital LLC and another investor

Mayfair Gold Corp. announced that it expects to receive CAD 3.02575 million in funding

Mayfair Gold Reports Positive Advanced Metallurgical Test Results for Fenn-Gib Deposit, Ontario

Mayfair Gold Corp. announced that it has received CAD 3.45 million in funding

Mayfair Gold Corp. Announces Resource Drilling Recommence At Its Fenn-Gib Gold Project

Mayfair Gold Drills 1.40 G/T Gold over 65.0M from Fenn-Gib Expansion Drill Program

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