Mayfair Files NPS to Advance Fenn‑Gib Gold Project Toward Production

Mayfair Files NPS to Advance Fenn‑Gib

Mayfair Gold Corp. files a Notice of Project Status (NPS) for its 100%‑owned Fenn‑Gib gold project in the Timmins district, formally registering the development with the Province of Ontario and notifying the Ministry of Energy and Mines of its intent to advance the site toward “mine in production” status under the Ontario Mining Act. The submission marks a regulatory milestone that initiates a sequence of technical, environmental and permitting work designed to move the project from study toward construction readiness.

Permitting, Indigenous Engagement and Project De‑risking

The NPS signals Mayfair’s focused effort on permitting and stakeholder engagement as central elements of its development strategy. The company outlines plans to continue detailed engineering, environmental assessments and socioeconomic studies while pursuing required approvals. These activities aim to underpin future construction and operating licences and to provide the information regulators need to assess the project against Ontario’s modernized permitting framework.

Mayfair emphasises ongoing, meaningful engagement with the Apitipi Anicinapek Nation and other regional Indigenous and local communities as part of the permitting pathway. Management presents the NPS as a step toward transparent engagement and responsible project planning, aligning consultation timelines with technical study work to address community concerns and regulatory expectations before moving into construction phases.

The company also frames the follow‑on studies as tools to de‑risk the planned C$450 million development. Environmental baseline work, technical optimisation and socioeconomic analysis are intended to refine design, reduce uncertainty and support financing and scheduling to meet regulatory milestones. The NPS is therefore positioned as both a procedural notification and a public signal of Mayfair’s commitment to reducing environmental, technical and social risks ahead of construction.

Project Economics and Schedule

Mayfair’s prefeasibility study positions Fenn‑Gib as a potential new Canadian gold producer with estimated initial capital of C$450 million, a base‑case payback of 2.7 years and cumulative free cash flow of US$896 million over the first six years of production using a US$3,100/oz gold price. The company targets construction start in 2028 and initial production in 2030, contingent on successful permitting, licence approvals and financing.

Technical Oversight and Next Steps

The technical content of the filing is reviewed and approved by Drew Anwyll, P.Eng., Mayfair’s chief operating officer and a Qualified Person under NI 43‑101. The NPS formally notifies the Ministry of Energy and Mines of Mayfair’s intent to advance the project, after which the company continues consultations, environmental studies and engineering work to support permit applications and regulatory review.