• Hole FG24-390 reports 6.12 g/t Au over 14.0 meters
• Footwall Zone structure extended to approx. 1km strike length, open in all directions
• Steep dipping mineralization from the surface to below 600 meters
• Multiple parallel mineralized structures intersected
• Footwall Zone immediately adjacent to main Fenn-Gib deposit
• Two drill rigs active at Footwall Zone

Mayfair Gold Corp. (TSX-V: MFG) (OTCQB: MFGCF) is pleased to announce further drill results from the higher-grade Footwall Zone located approximately 100 meters to the northwest of the Fenn-Gib gold deposit. Mayfair’s 100% controlled Fenn-Gib Project, located in the Timmins region of Northeast Ontario, hosts a NI 43-101 open-pit-constrained Indicated mineral resource estimate of 3.38 million (M) ounces gold at a grade of 0.93 grams per tonne Au and an Inferred mineral resource of 0.16Moz Au at 0.85 g/t Au (see the “About Mayfair” section below). The near-surface Fenn-Gib gold mineralization is broadly disseminated striking east-west on the Pipestone Fault over more than 1.5 kilometers (km) and is over 500 m wide at the west end.

Mayfair Gold President and CEO Patrick Evans commented: “The 3.38M ounce Fenn-Gib deposit is a high-quality ‘anchor’ asset with very favorable geology capable of delivering industry-leading gold recoveries with standard flowsheet options. Resource drilling on the Footwall Zone discovery immediately adjacent to the Fenn-Gib deposit continues to identify wide zones of high-grade gold mineralization. Drilling has so far extended the strike of the outcropping Footwall Zone to more than 1 kilometer—and it remains open to both the northeast and southwest—and confirmed continuity to a depth of more than 600 m.”

The winter resource drilling campaign at the Footwall Zone has extended the strike of the mineralized structure over approximately 1 km. The mineralization reported today in drill holes FG24- 385, 387, and 388 is located within the northern portion of the 2023 Fenn-Gib resource conceptual open-pit and is expected to increase the Fenn-Gib open-pittable resource. A maiden resource on the Footwall Zone is expected to be completed by mid-2024.

Highlight drill results include:

The latest drill results continue to intersect significant gold mineralization building on Mayfair’s previously reported Footwall Zone drill results that included: hole FG21-139 intersected 1.94 g/t Au over 38.0m, including 4.06 g/t Au over 15.0m (news release June 01, 2021). FG21-166 intersected 1.42 g/t Au over 66.0m, including 3.4 g/t Au over 19.2m, including 6.20 g/t Au over 9.2m. A lower zone in hole FG21-166 returned 1.02 g/t Au over 34.0m, including 11.49 g/t Au over 1.0m; FG21-170 intersected 37.51 g/t Au over 2.6m and 59.05 g/t over 1.0m; hole FG21-186 intersected 2.31 g/t Au over 30.0m, including 6.58 g/t Au over 7.0m (news release October 25, 2021). FG21-188 intersected 25.93 g/t Au over 1.5m, 1.37 g/t Au over 25.5m including 5.4 g/t Au over 5.0m; FG21-203 intersected 2.70 g/t Au over 15.0m; including 4.04 g/t Au over 9.0m, including 7.18 g/t Au over 4.0m; FG21-215 intersected 2.88 g/t Au over 49.0m, including 6.53 g/t Au over 17.5m and FG22-218 intersected 0.71 g/t Au over 92.0m, including 2.15 g/t Au over 10.0m. A lower zone returned 2.40 g/t Au over 47.4m, including 3.83 g/t Au over 4.7m and 5.26 g/t Au over 6.6m and 6.78 g/t Au over 7.0m (news release June 15, 2022). FG23-300 intersected 2.05 g/t Au over 16.2m, including 3.72 g/t Au over 6.2m (news release February 27, 2023), and hole FG23-328 returned 15.65 g/t Au over 1.5m and 7.94 g/t Au over 7.0m and hole FG23-344A intersected 4.72 g/t Au over 30.0m, including 6.59 g/t Au over 19.6m (news release June 21, 2023).   FG23-304 intersected 1.46 g/t Au over 25.9m, including 14.32 g/t Au over 1.0m and 3.0 g/t Au over 3.5m and 5.88 g/t Au over 1.9; FG23-314 intersected 2.19 g/t Au over 17.1m, including 13.67 g/t Au over 2.0m; FG23-326 intersected 3.67 g/t Au over 8.0m, including 6.47 g/t Au over 4.2m including 19.89 g/t Au over 0.9m and FG23-345 intersected 1.44 g/t Au over 49.5m, including 9.20 g/t Au over 2.5m and 2.92 g/t Au over 3.0m (news release September 11, 2023).

The Footwall Zone target consists of multiple mineralized zones hosted primarily in the footwall mafic volcanic assemblage, located immediately northwest of the Fenn-Gib gold deposit. The Footwall Zone strikes in a northeasterly direction and with a steep northerly dip. Mineralization consists of bleached, buff-altered (silica-albite-carbonate alteration), pillowed mafic volcanic with pyrite ranging from 2% to over 20%.

Metallurgical tests conducted on a Footwall Zone underground sample showed excellent metallurgy. Whole-ore cyanidation confirmed the high gold recovery of 94.2% at a P₈₀ 59um grind size and 48-hour leach time (news release March 28, 2022).

The latest reported drill results are summarized in Table 1 below, and Table 2 lists the drill hole details.

Table 1 – Footwall Zone reported drill hole results summary.

Table 2 – Footwall Zone reported drill hole collar information.

Plan and section maps of the above reported drill holes are available at https://mayfairgold.ca/fenn-gib/#drillplanmap&sections.

Additional drill results from the infill, expansion, and step-out drill program will be announced as they are received.

QA/QC Controls

Mayfair Gold (Mayfair) employs a QA/QC program consistent with NI 43-101 and industry best practices. Surface drilling was conducted by Major/Norex Drilling of Timmins, Ontario and was supervised by the Mayfair exploration team. Mayfair’s drill program includes descriptive logging and sampling of the drill core for analysis at Mayfair’s secure facility located in Matheson, Ontario. Sampled drill core intervals were sawn in half with a diamond blade saw. Half of the sampled core was left in the core box and the remaining half was bagged and sealed. Mayfair utilizes accredited laboratories that include, Activation Laboratories Ltd. (Actlabs) and AGAT Laboratories Ltd. (AGAT) both located in Timmins, Ontario, and Swastika Laboratories Ltd located in Swastika, Ontario. Mayfair personnel transport the samples directly and deliver to Actlabs, and samples are collected by both AGAT and Swastika personnel directly from Mayfair’s secure core logging facility in Matheson, Ontario. Gold was analyzed by 30-gram fire assay with AA-finish. Certified reference material (CRM) standards and coarse blank material are inserted every twenty samples. Mayfair completes routine third-party check assays. Drill intercepts cited do not necessarily represent true widths unless otherwise noted.

About Mayfair Gold

Mayfair Gold is a Canadian mineral exploration company focused on advancing the 100% controlled Fenn-Gib gold project in the Timmins region of Northern Ontario. The Fenn-Gib gold deposit is Mayfair’s flagship asset and currently hosts an updated NI 43-101 resource estimate with an effective date of April 6. 2023 of a total Indicated Resource of 113.69M tonnes containing 3.38M ounces at a grade of 0.93 g/t Au and an Inferred Resource of 5.72M tonnes containing 0.16M ounces at a grade of 0.85 g/t Au at a 0.40 g/t Au cut-off grade (Source: Tim Maunula, P. Geo., of T. Maunula & Associates Consulting Inc., who is deemed a qualified person as defined by NI 43-101). The Fenn-Gib deposit has a strike length of over 1.5km with widths ranging over 500m. The gold mineralized zones remain open at depth and along strike to the east and west. Recently completed metallurgical tests confirm that the Fen-Gib deposit can deliver robust gold recoveries of up to 94%.