Mayfair Gold (MFG) Q1 2026 earnings summary

Executive summary

• Reported Q1 2026 operating and financial results, focusing on advancing the 100% controlled Fenn-Gib Gold Project in Northern Ontario.

• The Fenn-Gib Project is in the development stage, with significant progress in permitting, engineering, and stakeholder engagement, and is positioned to become a new Canadian gold producer.

Outlook and guidance

• Pre-Feasibility Study (PFS) projects initial development capital of C$450 million and a payback period of 2.7 years.

• Cumulative free cash flow of US$896 million expected over the first six years of production, assuming a US$3,100/oz gold price.

• Construction targeted to begin in 2028, with initial gold production anticipated in 2030.

Risk factors and uncertainties

• Forward-looking statements are subject to risks, uncertainties, and factors that may cause actual results to differ materially from expectations or projections.

• Risks include those identified in the annual information form and Form 40-F for the year ended December 31, 2025.