Mayfair Gold (MFG) Corporate presentation summary

Development pathway

• Ontario’s IPIP designation was received in November 2026; the 18–24-month permitting target supports a 2028 construction decision.

• Construction is targeted for 2028–29, with first production in 2030 and average output of ~71koz/year in the first six years.

• The 4,800-tpd starter plan has C$450M initial capex and a high-grade starter pit; the presentation cites a 1.7-year payback at spot gold.

Initial study economics

• The 2026 PFS outlines a 1.04Moz reserve, 14.3-year mine life, 4,800-tpd throughput and 64,096oz average annual production at US$1,292/oz LOM AISC.

• At US$3,100/oz gold, after-tax NPV (5%) is C$652M, IRR is 24% and payback is 2.7 years; at the US$4,450/oz spot case, these are C$1,373M, 38% and 1.7 years.

• First-six-year average production is 71,336oz/year at 1.47g/t; spot-case cumulative FCF for those six years is C$1,432M.

Resource and growth potential

• Fenn-Gib has 4.3Moz indicated at 0.74g/t and 141koz inferred; the initial plan includes ~24% of indicated resources, leaving 3.3Moz outside the plan.

• The resource shell uses US$2,000/oz gold, versus US$2,400–2,500/oz cited for peers.

• Exploration targets include the largely unexplored South Block along the Porcupine-Destor Fault and North Block extensions at depth and along strike.

• Grade-control drilling confirmed the resource model at a 0.80g/t cutoff; above 3.0g/t, it identified 28% more tonnes, 7% higher grade and 37% more contained gold.