MAYFAIR GOLD CORP - MFGCF STOCK NEWS

Mayfair Gold Corp. has reported significant progress in its Fenn-Gib expansion drill program, continuing to uncover gold mineralization outside the current pit-constrained 2.08 million ounce Indicated Resource. The Phase 3 drill program, fully funded at 30,000 meters, is ongoing with three rigs. An update on the NI 43-101 mineral resource is expected in the current quarter. Notable drill results include highs of 1.40 grams per tonne gold over 65.0 meters and 1.29 grams per tonne over 34.0 meters, illustrating the project's promising potential.

Mayfair Gold Corp. announced the successful completion of its 80,000-meter Phase 1/2 drill program at the Fenn-Gib Project, located in Northeast Ontario. The drill program supports an updated NI 43-101 indicated resource of 2.08 million ounces of gold, with additional mineralization identified. A new 30,000-meter Phase 3 program has commenced. The North Block regional drilling has completed approx. 6,400 meters, with further exploration planned. The resource update is expected in the current quarter, driven by ongoing successful drilling results.

Mayfair Gold Corp. (MFGCF) announced the successful closing of a private placement financing, raising $7,009,000 through the issuance of 4,300,000 flow-through common shares at $1.63 per share, a 36% premium over its June 8 closing price. The funds will support the exploration of the Fenn-Gib gold project in Ontario, which contains an Indicated Resource of 2.08M ounces of gold. The FT Shares are subject to a four-month hold period expiring November 1, 2022, and proceeds will qualify as Canadian Exploration Expenses, renounced effectively by December 31, 2022.

Mayfair Gold Corp. (MFGCF) announced the commencement of trading on the OTCQX Best Market as of June 30, 2022. This move aims to enhance visibility and accessibility for U.S. investors, complementing ongoing trading on the TSX.V. CEO Patrick Evans underscored the importance of U.S. participation in the company's success at the Fenn-Gib gold project. The company is nearing completion of an 80,000-meter drill program aimed at increasing the gold resource, which currently exceeds 2 million ounces. Recent metallurgical tests indicate robust gold recoveries of up to 94%.

Mayfair Gold Corp. reports significant developments at its Fenn-Gib Project in Ontario, where the Footwall Zone reveals a high-grade gold mineralization with resource potential. This zone, located north of the Fenn-Gib deposit, is defined over 200m and extends vertically to 500m, currently housing a 2.08M ounce resource. Recent drilling results confirmed multiple intersections of gold, including 25.93 g/t over 1.5m and 2.88 g/t over 49.0m. The company plans to complete infill and expansion drilling, with a resource update expected in Q3 2022.

Mayfair Gold Corp. (MFGCF) announced a strategic financing of $7,009,000 through the issuance of 4,300,000 flow-through shares at $1.63 each. This represents a 36% premium over the previous closing price. Proceeds will fund Canadian Exploration Expenses for the Fenn-Gib gold project, which has a significant resource estimate of 2.08 million ounces. The offering is expected to close by June 30, 2022, subject to TSX-V approval and customary conditions. Shares are subject to a four-month hold period.

Mayfair Gold Corp. has reported further success from the Fenn-Gib expansion drill program, increasing its indicated resource to 2.08M ounces of gold.

Approximately 76,600 meters of the planned 80,000-meter drill program have been completed, with positive results expected in Q3 2022.

Highlighted drill results include intersections of 1.21 g/t Au over 112.1 meters and 0.59 g/t Au over 158 meters. The company anticipates further growth in resource estimation and reports adherence to NI 43-101 standards.

Mayfair Gold Corp. has successfully completed its maiden drill program at the Fenn-Gib South Block, drilling 3,468 meters across 18 holes. Located in the Timmins region of Northeast Ontario, the South Block has significant potential due to its proximity to established gold mines. The 2021 high-resolution surveys set the foundation for the exploration program, which began in April 2022. Results from this Phase 1 program are pending, with a follow-up Phase 2 program planned for next winter based on the findings. The Fenn-Gib gold deposit includes an indicated resource of 2.08 million ounces.

Mayfair Gold Corp. announced that its Fenn-Gib Project is now Canada’s first carbon neutral gold project after purchasing carbon offsets for 2021 GHG emissions. The project, located in Northeast Ontario, holds a NI43-101 Indicated Resource of 2.08 million ounces. The company has completed 75,300 meters of its 80,000-meter drilling program and is on track to report a resource update in Q3 2022. Successful metallurgical tests indicate robust gold recoveries of 84.3% via whole ore cyanidation and 94% via flotation.