Mayfair Gold (MFG) Registration filing summary

Company overview and business model

• Focuses on exploration, development, and operation of the Fenn-Gib Project in Ontario, Canada, acquired in 2020 for US$11 million and a 1% net smelter returns royalty.

• No producing properties or current operating income; has not generated revenues to date.

• Recent management changes include new CEO, CFO, and VPs for Exploration and Mineral Resource Management in 2026.

Financial performance and metrics

• Negative cash flow from operating activities for years ended December 31, 2025 and 2024, and interim period ended March 31, 2026.

• As of April 30, 2026, working capital was approximately C$26.5 million.

• No historical non-GAAP financial measures as the company is not in production.

Use of proceeds and capital allocation

• Net proceeds expected to fund capital expenditures and general corporate purposes; specific allocations to be detailed in prospectus supplements.

• Plans to spend C$15 million advancing the Fenn-Gib Project, C$5 million on detailed engineering, and C$6.5 million on overhead over the next 12 months.

• Additional equity raise of C$40–50 million anticipated to support detailed engineering and long-lead item procurement, aiming for construction decision in 2028 and initial production in 2030.