Mayfair Gold Corp. reported positive results from the Company's ongoing metallurgical test program on mineral samples from the Company's 100% controlled Fenn-Gib deposit located in the Timmins region of Northern Ontario. Fenn-Gib hosts an NI 43-101 open-pit-Indicated Resource of 3.38M gold ("Au") ounces with disseminated gold mineralization striking east-west on the Pipestone fault over more than 1.5 kilometers (km) and up to 500 meters (m) in width at the west end.

Metallurgical test work was completed at SGS-Lakefield ("SGS") under the guidance of Mr. Steve Haggarty, P.Eng. (Haggarty Technical Services Corp.), in coordination with Mayfair geological personnel. The improved metallurgical recoveries are included in the recently published July 26, 2023 Fenn-Gib Project NI-43101 Technical Report, with an effective date of April 6, 2023.

Flotation testwork demonstrates a near-linear relationship for gold deportment with sulphides. At flotation feed sizes of F80 75 to 100 um, sulphide and gold recoveries of 96% to 99% were realized, with slight deterioration in performance at coarser grind sizes. The treatment of a reground gold-sulphide flotation concentrate, which is then subjected to intensive cyanidation, yielded consistent results with 98% Au extraction achieved at a concentrate regrind size of P80 10 um.

An overall 94% Au recovery would be expected from Fenn-Gib mineralization over the entire range in sulfide content. The hybrid, industrially-applied process scheme takes advantage of the hydrophobic nature and favorable response to flotation of pyrite, chalcopyrite, and gold alloys. Mineralization supports the implementation of a gravity circuit, followed by either flotation to a final concentrate for off-site smelting, or regrinding and intensive on-site cyanidation of a combined gravity-flotation concentrate.

No deleterious elements were present in the concentrates produced from testwork. The clean pyrite concentrate is attractive as a smelter feed providing a fuel source with payable gold content. Additional metallurgical test work is planned on mineralized intercepts from site exploration drilling.

Variability testing will validate the expected range in performance and process design criteria for pre-feasibility study engineering, as well as the financial evaluation of alternatives.