• Footwall mineralization outside current pit-constrained indicated 2.08M ounce resource
• Steep dipping mineralization from surface to below 500m
• Footwall Zone defined on strike over 200m
• Mineralization open in all directions

Mayfair Gold Corp. (TSX-V: MFG) (OTCQB: MFGCF) is pleased to announce further results from the higher-grade Footwall Zone located between 100 and 200 meters (m) to the north of the Fenn-Gib gold deposit. Mayfair’s 100% controlled Fenn-Gib Project, located in the Timmins region of Northeast Ontario, hosts the NI 43-101 Indicated Resource of 2.08M ounce Fenn-Gib deposit (see the “About Mayfair” section below) with disseminated gold mineralization striking east-west on the Pipestone Fault over 1.25 kilometers (km) and up to 300m wide towards the west end.

Mayfair Gold President and CEO Patrick Evans noted: “Drilling continues to confirm the higher-grade gold mineralization in the Footwall Zone immediately to the north of the Fenn-Gib deposit. The Footwall Zone mineralization, outcropping at surface and intersected vertically down to approximately 500m below surface, remains open in all directions. The southwest to northeast trending structure has been traced over approx. 200m to date. Drilling is continuing to fully determine the orientation, extent and tonnage potential of the Footwall Zone.”

Mr. Evans added: “The Footwall Zone mineralization is not included in the 2021 NI 43-101 Fenn-Fib resource estimate. Infill and expansion drilling at the main Fenn-Gib deposit is nearing completion and we remain on track to report a resource update in Q3.”

Highlight reported drill results include:

1. FG21-188 intersected 25.93 grams/tonne (g/t) gold (Au) over 1.5m, 1.37 g/t Au over 25.5m including 5.4 g/t Au over 5.0m;
2. 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;
3. FG21-215 intersected 2.88 g/t Au over 49.0m, including 6.53 g/t Au over 17.5m;
4. 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 47.0m, 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.

Previous limited drilling by Lake Shore Gold identified gold mineralization within the footwall mafic volcanics immediately to the north of the Fenn-Gib deposit in drill holes FG11-04 (3.54 g/t Au over 10.0m), FG11-05 (3.62 g/t Au over 59.0m), FG11-07 (4.03 g/t Au over 3.0m) and FG11-08 (2.24 g/t Au over 39.4m). No further drilling took place prior to Mayfair’s acquisition of Fenn-Gib at the end of 2020.

Ongoing drilling continues to intersect significant gold mineralization, building on Mayfair’s previously reported Footwall Zone drill results. 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). Hole 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. Hole 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, and hole FG21-195 intersected 1.28 g/t Au over 28.0m, including 1.74 g/t Au over 16.0m (news release October 25, 2021).

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

Table 1 – Fenn-Gib Footwall Zone reported drill results summary

*Note: Drill intercepts cited above do not necessarily represent true widths, unless otherwise noted. The dip of the Footwall Zone appears to vary between northward, vertically, and southward. There appear to be at least two controls of gold mineralization that include south-dipping, stratigraphically-controlled pillowed volcanics and flow-top breccia, as well as steeply north to northwest dipping en-echelon shear zones. Ongoing drilling at increased density will support both interpretation of the dip orientation and true width estimates, as well as modelling of the Footwall Zone.

Table 2 – Fenn-Gib Footwall Zone reported drill hole collar information.

Plan and section maps of the above reported drill holes including a Footwall Zone core photo are available at mayfairgold.ca/fenn-gib/#drillplanmap&sections

The Footwall Zone target consists of multiple mineralized zones hosted primarily in the footwall mafic volcanic assemblage within the generally east-west trending Pipestone Fault mineralized corridor. Mineralization consists of bleached, buff-altered (silica-albite-carbonate alteration) pillowed mafic volcanic with pyrite ranging from 2% to over 20%.

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

QA/QC Controls

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, and the samples were transported by Mayfair personnel to the Actlabs laboratory in Timmins, 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. Drill intercepts cited do not necessarily represent true widths, unless otherwise noted.

About Mayfair

Mayfair is a Canadian mineral exploration company focused on advancing the 100% owned Fenn-Gib gold project in the Timmins region of Northern Ontario. The Fenn-Gib gold deposit is Mayfair’s flagship asset. An updated open-pit constrained NI 43-101 resource estimate (February 5, 2021) reported a total Indicated Resource of 70.2M tonnes containing 2.08M ounces at a grade of 0.921 g/t Au and an Inferred Resource of 3.8M tonnes containing 75,000 ounces at a grade of 0.618 g/t Au. The deposit has a strike length of approx. 1.25km with widths ranging up to 300m. The gold mineralized zones remain open at depth and along strike to the east and west.