Mayfair Gold (MFG) Investor presentation summary

Project overview and strategy

• Advancing the Fenn-Gib gold project in Ontario with a 4.3 Moz indicated gold resource and 0.1 Moz inferred resource, targeting a quick path to production and free cash flow by 2030.

• Strategic focus on lower capital requirements, accelerated provincial permitting expected by 2028, and targeting high-margin material for improved payback.

• Project located in the prolific Timmins gold district, with excellent infrastructure, workforce access, and proximity to established producers.

• Management and board have a strong track record, with ~35% insider ownership and significant insider equity purchases since October 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, 4,800 tpd throughput, and initial capex of C$450M.

• Life-of-mine average annual gold production is 64,096 oz at 1.29 g/t, with years 1-6 averaging 71,336 oz at 1.47 g/t and 90% recoveries.

• LOM average AISC is US$1,292/oz, with after-tax NPV (5%) of C$652M (base case) and C$1,373M (spot case), IRR of 24% (base) and 38% (spot), and payback of 2.7 years (base) or 1.7 years (spot).

• Cumulative free cash flow projected at C$1.7B (base) to C$2.9B (spot), with annual FCF sensitivity to gold price.

Technical highlights and de-risking

• Near-surface high-grade starter zone enables early payback and robust early economics, with grade control drilling validating the resource model and identifying high-grade upside.

• Modular build and <5,000 tpd design reduce execution risk and keep project within Ontario environmental approval thresholds.

• Metallurgical testwork confirms predictable recoveries (80–90%) and supports a conventional flowsheet with future gravity recovery potential.

• Capex breakdown: process plant (26%), on-site infrastructure (16%), contingency (15%), owner's cost (14%), with sustaining capex of C$61M.