Mayfair Gold Corp. is an exploration and development stage company focused on the advancement of its 100% owned Fenn‑Gib Project, a gold mineral property situated in the Guibord, Munro, Michaud and McCool Townships of northeast Ontario, Canada. The project encompasses six mining leases, eighteen mining patents, one hundred forty four cell claims and three surface rights patents, covering a substantial land package in the historic Abitibi greenstone belt. The Fenn‑Gib Deposit, located on the North Block, contains gold mineralization in the Main Zone, Deformation Zone, Footwall Zone and Contact Zone. As of the most recent disclosure, the deposit hosts an indicated mineral resource of 181,302,000 tonnes grading 0.74 grams per tonne gold, equivalent to 4,313,000 ounces, and an inferred resource of 8,921,000 tonnes grading 0.49 grams per tonne gold, equivalent to 141,000 ounces. The company acquired the property from Lake Shore Gold Corp. on December 31, 2020 for an cash payment of US$11 million and granted the vendor a 1.0% net smelter returns royalty.

Mayfair Gold Corp. does not generate revenue from mineral sales because the Fenn‑Gib Project remains in the exploration and development phase and has not achieved commercial production. The company’s activities are financed primarily through equity offerings and debt instruments, with proceeds allocated to drilling, sampling, metallurgical testing, environmental studies and general camp expenses. Exploration and evaluation expenditures for the year ended December 31, 2025 totaled approximately $7,322,650, reflecting costs for camp maintenance, drilling, laboratory analysis, permitting and consultant fees. Until the project advances to a production decision, the firm relies on external capital to sustain its work programs.

The precious metal mineral exploration and development sector is intensely competitive, with numerous junior explorers and major mining companies vying for limited attractive properties, skilled personnel and financing. Mayfair Gold Corp. competes directly with other firms that possess greater financial resources for the acquisition of mineral claims, the hiring of experienced geologists and engineers, and the procurement of drilling equipment and supplies. Despite this competitive environment, the company holds a distinct advantage through full ownership of the Fenn‑Gib Project, which hosts a multi million ounce indicated gold resource and demonstrates continuity of mineralization across several zones. The project’s location in the established Abitibi belt provides access to existing infrastructure, skilled labour pools and a supportive regulatory framework, factors that enhance its appeal relative to more remote prospects. However, the company’s ability to fund ongoing exploration is subject to the volatility of gold prices and the availability of capital on favourable terms, as downturns in the precious metals market can constrain investor appetite for early stage developers. Management emphasizes disciplined cost control, technical expertise and community engagement as key elements of its strategy to differentiate itself from peers and to advance the project toward a feasible production scenario.

As the Fenn‑Gib Project has not commenced commercial production, Mayfair Gold Corp. does not currently serve any customers for mineral sales. The company’s present activities are limited to exploration, drilling, resource definition and pre feasibility studies, which do not generate a revenue stream or a customer base. Should the project reach a production decision in the future, the anticipated customers would include gold refiners, bullion banks and metal trading companies that purchase doré or refined product from mining operations. Until such time, the firm’s focus remains on advancing the technical and economic viability of the deposit rather than on sales or distribution.