MAYFAIR GOLD PROVIDES Q2 2026 UPDATE ON FENN-GIB PROJECT ADVANCEMENT AND DE-RISKING ACTIVITIES

Mayfair Gold Corp. ( "Mayfair", "Mayfair Gold" , or the "Company" ) is pleased to provide a progress update on activities completed during Q2 2026 and ongoing key work streams to advance and de-risk the Company's 100% controlled Fenn-Gib Gold Project ( "Fenn-Gib" or the "Project" ) in Northern Ontario. Key Highlights: Engineering & Design: Advancing front-end engineering design with Ausenco leading plant engineering, and site layout work for the planned 4,800 tonne-per-day process plant Grade Control Drilling: Concluded the grade control drilling program, which confirmed Resource model confidence and identified upside in higher-grade material Environmental Work and Advancing Permitting: Progressing environmental baseline studies and preparing the Ontario-led One Project, One Process environmental approval submission Infrastructure: Advanced powerline planning and engagement with HONI and IESO, while progressing site access options; advanced condemnation drilling review and geotechnical investigations for key infrastructure and plant site locations Exploration: Advancing compilation, mapping and prospecting across the expanded regional land package Capital Markets: Initiated early engagement with potential project financing parties Planned Activities for Q3: Plans to complete process plant FEED and tender detailed engineering, advance the 1P1P submissions and project financing discussions, and further de-risk earthworks, tailings storage facility and water management designs Drew Anwyll, P.Eng., Chief Executive Officer of Mayfair Gold, stated: " Q2 was an important quarter for Mayfair as we continued to de-risk Fenn-Gib and move the Project toward development. This is the phase of project development where the foundations of great projects are built — through disciplined technical work, practical execution planning and strong collaboration. Since stepping into the CEO role, my focus has been on driving progress across the Fenn-Gib project design, permitting and execution strategies, while ensuring momentum is sustained across the critical work programs now underway. The progress achieved during the quarter reflects the strength of Mayfair's team, technical specialists and interdisciplinary consultants, and reinforces our confidence in Fenn-Gib as a made-in-Ontario gold project with a practical path toward construction and production in an expedited timeframe ." During Q2 2026, Mayfair advanced a broad range of technical, environmental, permitting, infrastructure, exploration, stakeholder engagement and capital markets initiatives in support of the Company's strategy to progress Fenn-Gib through Ontario-led approvals, Indigenous agreements, and engineering, design and procurement work streams in parallel. Key Q2 and ongoing 2026 activities include advancing front-end engineering design ("FEED") work, encompassing process plant and infrastructure design optimization; evaluating grade control and condemnation drilling results; completing geotechnical investigations; progressing ongoing environmental baseline and permitting support programs; advancing electrical transmission planning and mining lease conversion activities; undertaking regional exploration; and maintaining ongoing engagement with Indigenous communities, investors and potential project financing counterparties. Engineering and Project Design During the quarter, Mayfair continued to advance FEED activities for the Fenn-Gib process plant, with Ausenco leading the plant engineering work. The Company's technical team and engineering partners are progressing design updates and working to finalize the site layout for the planned 4,800 tonne-per-day plant. These efforts are intended to support constructability, reduce execution risk, refine capital cost estimates, and advance the Project beyond the 2026 Pre-Feasibility Study stage toward detailed engineering and pre-construction readiness. Key areas o...