Mayfair Gold (MFG) Mining Forum Americas 2026 summary

Project overview and strategy

• Focus on a modest, low-risk open-pit mine in the Timmins Camp, leveraging high-grade surface ore and a 4.3 million ounce resource, with 1 million ounces defined in the recent PFS.

• Strategic decision to stay below 5,000 tons per day to expedite permitting and avoid lengthy federal reviews, targeting provincial approval and production by 2030.

• Modular plant design and phased approach allow for rapid construction and future scalability without sterilizing resource potential.

• Project is positioned for a fundamental share price re-rating upon transition to construction and operation, with internal ownership and investor alignment supporting execution.

Permitting, community, and financing

• Ontario's new 1P1P permitting regime is expected to halve approval times to 18–24 months, with application submitted in August and designation anticipated by early October.

• Indigenous engagement is prioritized, with a nearby community 20 km away and a goal to finalize an impact benefit agreement by late 2026 or early 2027.

• Project financing is advanced, targeting CAD 300 million in debt and a total construction capital of CAD 350 million, with working capital included.

• Three years of baseline environmental studies and strong community relationships de-risk the permitting process.

Operations, economics, and exploration

• High-grade ore at surface enables mining at 1.5 g/t in the first six years, generating CAD 1.4 billion free cash flow in that period.

• Life-of-mine average feed grade is 1.3 g/t, with annual free cash flow of about CAD 250 million.

• Exploration upside exists in the South Block, with drilling prioritized for the next winter season.

• Modularization of plant components and access to skilled contractors in the region further de-risk construction.