VANCOUVER, BC, Nov. 17, 2025 /PRNewswire/ - Mayfair Gold Corp. ("Mayfair", or the "Company") (TSXV:MFG) (OTCQX:MFGCF) is pleased to report its operating and financial results for the quarter ended September 30, 2025. Mayfair is focused on the exploration and development of its 100% controlled Fenn-Gib gold project located in the Timmins region of Northeast Ontario ("Fenn-Gib" or the "Project"). The full version of the financial statements and accompanying management's discussion and analysis can be viewed on the Company's website at www.mayfairgold.ca or on SEDAR+ at www.sedarplus.com. Unless otherwise stated, all amounts are presented in Canadian dollars.

Mayfair's Chief Executive Officer Nicholas Campbell commented,

"Dear Stakeholders, 

I am pleased to provide an update on our progress at Mayfair Gold and the Fenn-Gib Gold project in Northern Ontario.  In Q3 2025, Mayfair completed a $40 million LIFE Offering which secured substantial funding to support the Mayfair Gold and advance the Fenn-Gib gold project through permitting, detailed engineering and community engagement. The company continued to advance work on the Pre-Feasibility Study ("PFS") for a 4,800 tpd open pit operation targeting the high-grade near surface zone of mineralization at Fenn-Gib. 

The Company commenced a confidence drilling program in October 2025, which will give Mayfair more data to better define waste to ore boundaries and improve confidence in the grade profile for the mine over the first several years of production. Results of the drill program are expected to be available in Q1 2026. Mayfair continues to focus on derisking the Fenn-Gib gold project. The PFS remains on track to be completed in Q4 2025 with formal Provincial permitting activities expected to commence at the start of 2026. 

With a strong balance sheet, an established team to advance the Fenn-Gib Project, execute the construction of the mine and with the upcoming PFS to illustrate the potential economics of 4,800 tpd open pit targeted the high-grade zone at Fenn-Gib, Mayfair Gold is very excited about the prospects for the Company as we unlock the value of Fenn-Gib and work to advance Mayfair Gold into a new Canadian Gold producer."

Corporate Highlights During the Quarter

On September 4, 2025, the Company held the Annual General and Special Meeting of Shareholders. Mayfair shareholders approved the re-election of Darren McLean, Carson Block, Zach Allwright, Sean Pi and Christine Hsieh; the re-appointment of Davidson & Company LLP as auditors of the Company; and the approval of a new 10% rolling Omnibus Incentive Plan to replace the existing stock option plan.

On September 16, 2025, the Company closed the LIFE offering resulting in the issuance of 24,244,000 common shares at a price of $1.65 per common share for gross proceeds of $40,002,600. The Company intends to use the net ...