Mayfair registers Fenn‑Gib in Ontario, advancing toward mine status with 2028 construction target

Mayfair registers Fenn‑Gib with Ontario as first step toward mine status

Mayfair Gold Corp. submits a Notice of Project Status (NPS) for its 100%‑owned Fenn‑Gib Gold Project in the Timmins mining district, formally registering the project with the Province of Ontario and notifying the Ministry of Energy and Mines of its intent to advance Fenn‑Gib toward “mine in production” status under the Ontario Mining Act. The NPS frames the project’s regulatory pathway and signals Mayfair’s plan to proceed with detailed technical studies, permitting and stakeholder consultation while continuing to derisk the project through environmental, technical and socioeconomic work.

The submission emphasizes ongoing engagement with the Apitipi Anicinapek Nation and other regional Indigenous and local communities, positioning consultation and transparent planning as central to Mayfair’s development approach. Company executives present the NPS as a tool to align the project with Ontario’s modernized permitting process and to provide regulators with an early, formal notice of the company’s construction and operating intent. Technical content in the notice is reviewed by Drew Anwyll, P.Eng., Mayfair’s chief operating officer, acting as the project’s Qualified Person under NI 43‑101 standards.

For the regional mining sector, the NPS represents a template for junior and mid‑tier developers seeking to navigate provincial expectations while pursuing capital and timelines for construction. By registering Fenn‑Gib now, Mayfair seeks to lock in a regulatory posture that supports subsequent environmental assessments, permitting approvals and socioeconomics studies, which the company says will underpin financing and licence applications needed to meet its development schedule.

Prefeasibility metrics and timetable

Mayfair’s prefeasibility study outlines potential development of Fenn‑Gib with estimated initial development capital of C$450 million, a base‑case payback period of 2.7 years and cumulative free cash flow of US$896 million over the first six years of production at a US$3,100 per ounce gold price. The company is targeting commencement of construction in 2028 and initial production in 2030.

Next steps and risks

Mayfair says it will continue advancing detailed engineering, environmental assessments, socioeconomic studies and consultations to support permitting approvals and further derisk the C$450 million development plan, while working to secure timelines, financing and the licence necessary to meet its 2028–2030 schedule.