Mayfair Gold (MFG) Company presentation summary

Project overview and strategy

• Advancing the Fenn-Gib gold project with a 4.3 Moz indicated gold resource and a strategic path to production, targeting accelerated provincial permitting by 2028 and first free cash flow by 2030.

• Focus on lower capital requirements, reduced execution risk, and targeting high-margin material for improved payback.

• Located in the prolific Timmins gold district with excellent infrastructure, workforce access, and exploration upside.

• Management and board have a strong track record, with 36% insider ownership and significant insider equity purchases since 2024.

Project economics and financials

• 2026 PFS outlines a 1 Moz reserve at US$3,100/oz gold, with a 14.3-year mine life and average annual production of 64,096 oz.

• Initial capex of C$450M, payback in 2.7 years (base case), after-tax NPV (5%) of C$652M, and IRR of 24%.

• At spot gold price (US$4,450/oz), after-tax NPV (5%) rises to C$1,373M and IRR to 38%, with payback in 1.7 years.

• LOM average AISC is US$1,292/oz, with 88.3% average gold recovery.

• Free cash flow highly sensitive to gold price, with cumulative FCF up to C$2,880M at spot price.

Technical highlights and de-risking

• Near-surface high-grade starter zone enables early payback and robust early economics, with 1.47 g/t Au and 90% recoveries in the first 6 years.

• Grade control drilling confirms resource model and identifies high-grade upside, de-risking early production.

• Metallurgical testwork supports plant design, with recoveries ranging from 80% to over 90% depending on grade.

• Conventional flowsheet with three-stage crushing, ball mill grinding, flotation, and CIL circuit.