Mayfair Gold Appoints Drew Anwyll, P.Eng., as CEO

Rhea-AI Summary

Mayfair Gold (NYSE American: MINE) appointed Drew Anwyll, P.Eng., as Chief Executive Officer effective May 4, 2026, with outgoing CEO Nick Campbell departing the company. Anwyll led Mayfair's 2026 Pre-Feasibility Study and the start of FEED for the Fenn-Gib Gold Project and brings over 30 years of mining development and permitting experience in Ontario.

Mayfair highlighted Anwyll’s prior roles at Generation Mining and Detour Gold, his experience with Ontario's 1P1P permitting approach, and a focus on advancing Fenn-Gib toward production while strengthening Indigenous and community relationships.

AI-generated analysis. Not financial advice.

Positive

• Appointed CEO with 30+ years of mining development experience
• Completed 2026 Pre-Feasibility Study and commenced FEED for Fenn-Gib
• Proven Ontario permitting experience tied to 1P1P framework

Negative

• Outgoing CEO departure creates short-term leadership transition risk
• No quantified production timeline or updated operational guidance provided

News Market Reaction – MINE

+0.70%

1 alert

+0.70% News Effect

On the day this news was published, MINE gained 0.70%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Industry experience: more than 30 years Plant throughput: 65,000 tonnes per day Mining throughput: more than 200,000 tonnes per day +5 more

8 metrics

Industry experience more than 30 years Mining development, construction and operation experience cited for new CEO

Plant throughput 65,000 tonnes per day Processing plant throughput managed at Detour Lake mine

Mining throughput more than 200,000 tonnes per day Mining operation scale at Detour Lake under new CEO’s oversight

Acquisition value C$4.9 billion Acquisition of Detour Lake operator into Agnico Eagle’s portfolio

Generation Mining tenure 2020–2025 Period serving as Chief Operating Officer at Generation Mining Limited

Detour Gold tenure 2011–2018 Period in senior roles at Detour Gold Corporation

EA approval timing late 2022 Government approval of Marathon Project Environmental Assessment

PFS year 2026 Pre-Feasibility Study led for the Fenn-Gib Project

Market Reality Check

Price: $3.08 Vol: Volume 26,097 is slightly...

normal vol

$3.08 Last Close

Volume Volume 26,097 is slightly below the 20-day average of 28,335 (relative volume 0.92). normal

Technical Price $2.86 is trading above the 200-day moving average at $1.18, despite sitting at the 52-week low and 41.39% below the 52-week high.

Peers on Argus

No peer stocks from the Gold industry appeared in the momentum scanner, indicati...

No peer stocks from the Gold industry appeared in the momentum scanner, indicating the -3.05% move occurred without confirmed sector-wide participation.

Historical Context

5 past events · Latest: Apr 27 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Apr 27	Project progress update	Positive	-2.7%	Detailed Q1 2026 technical, environmental and permitting progress at Fenn-Gib.
Apr 16	Insider private placement	Positive	+0.9%	CFO insider share purchase to fund advancement of the Fenn-Gib project.
Apr 07	CFO appointment, financing	Positive	-0.9%	Appointment of veteran CFO and small non-brokered financing with options grant.
Apr 02	Property acquisition	Positive	+1.3%	Acquisition expanding landholdings near Fenn-Gib along Porcupine-Destor Fault Zone.
Feb 11	Drill results update	Positive	+4.6%	Initial grade control drilling results showing modest grade uplift versus block model.

Pattern Detected

Recent news has been consistently project-advancing and management-focused, with mostly positive price reactions but occasional selloffs on constructive updates and financing events.

Recent Company History

Over the past few months, Mayfair Gold has focused on advancing the Fenn-Gib project and strengthening its corporate platform. Updates in Q1 2026 highlighted technical, environmental, and permitting progress. The company completed insider-led private placements in April 2026, and bolstered leadership by appointing a new CFO. It expanded its land position with a C$2.5M acquisition and reported encouraging grade control drilling results that modestly improved modeled grades, all supporting the transition toward development.

Market Pulse Summary

This announcement highlights a leadership transition placing an experienced mine builder at the helm...

Analysis

This announcement highlights a leadership transition placing an experienced mine builder at the helm as Mayfair advances Fenn-Gib toward production. The new CEO’s background in large-scale open-pit operations, complex permitting, and successful Environmental Assessment processes provides continuity with recent technical and project milestones. Investors may watch for updates on permitting timelines, construction decisions, and how the executive team converts prior studies and FEED work into concrete development steps.

Key Terms

pre-feasibility study, front-end engineering and design, professional engineer, environmental assessment, +4 more

8 terms

pre-feasibility study technical

"he spearheaded the 2026 Pre-Feasibility Study (the "PFS") and the commencement"

A pre-feasibility study is an initial assessment that evaluates whether a proposed project or investment idea is worth exploring further. It involves examining basic factors like costs, potential benefits, and possible challenges, similar to conducting a preliminary check before deciding to invest more time and resources. This helps investors determine if pursuing the project further is practical and likely to be successful.

front-end engineering and design technical

"and the commencement of Front-End Engineering and Design (FEED) for the Fenn-Gib Project."

Front-end engineering and design is the work of building the parts of a website or app that users see and interact with — like the layout, buttons, visuals, and how pages respond to clicks or taps. For investors it matters because a clear, fast, and attractive user interface is like a well-designed storefront: it helps attract and keep customers, improves conversion and engagement, and can lower support and development costs, all of which affect revenue and growth potential.

professional engineer technical

"Drew Anwyll is a seasoned mining executive and Professional Engineer with more than 30 years"

A professional engineer is a licensed engineer who has met formal education, work-experience and examination requirements and is legally authorized to sign off on engineering designs and take responsibility for public safety. For investors, that stamp of approval matters because it signals qualified oversight on technical projects, helps ensure regulatory compliance, and reduces the risk of costly redesigns, delays or liability—think of it as a certified pilot for complex construction or product work.

environmental assessment regulatory

"Review Panel for its Environmental Assessment, receiving government approval in late 2022"

An environmental assessment is a process that evaluates how a project or activity might impact the natural surroundings, such as air, water, land, and wildlife. It helps identify potential environmental risks and ensures that any negative effects are managed or minimized. For investors, this assessment provides insight into the sustainability and long-term viability of projects, which can influence their financial decisions and risk management.

joint federal and provincial review panel regulatory

"navigated a rigorous Joint Federal and Provincial Review Panel for its Environmental Assessment"

A joint federal and provincial review panel is a shared government review body that evaluates major projects needing approval from both national and subnational authorities, often for environmental, social, or safety impacts. It matters to investors because its findings and recommendations can determine whether a project gets permits, how long approvals take, and what conditions or costs will be imposed—like a combined planning committee whose decision shapes a project's timeline, budget and regulatory risk.

open-pit technical

"relevant to the Fenn-Gib Project's open-pit profile:"

An open-pit is a surface mining method in which rock and soil are removed in successive layers to create a large, bowl-shaped excavation where ore is dug from the ground rather than from underground tunnels. For investors, it matters because open-pit operations usually allow higher-volume, lower-cost extraction but also require big upfront capital, long permitting and reclamation obligations, visible environmental impacts and limits on how deep and how long a mine can operate.

permitting framework regulatory

"with a modern permitting framework, ensuring that Mayfair advances the Fenn-Gib Gold Project"

A permitting framework is the set of laws, rules and procedures that determine how companies apply for, receive and keep regulatory permits or approvals needed to build projects, sell products or operate in a jurisdiction. For investors it matters because the framework shapes how quickly and cheaply a business can move forward, what regulatory risks and costs it faces, and therefore how likely a project is to meet its timeline and expected returns—like a traffic system that controls whether a venture gets a green light or long delays.

permitting process regulatory

"and further advanced the Project through the permitting process."

The permitting process is the series of steps required for authorities to approve a project or activity before it can begin. It is similar to getting a building permit before starting construction, ensuring safety and compliance with rules. For investors, it matters because delays or denials in this process can affect the timeline, costs, and success of a project.

AI-generated analysis. Not financial advice.

TORONTO, May 4, 2026 /PRNewswire/ - Mayfair Gold Corp. ("Mayfair", "Mayfair Gold", or the "Company") (TSXV: MFG) (NYSE American: MINE) is pleased to announce the appointment of Drew Anwyll, P.Eng., formerly Chief Operating Officer of the Company, as Chief Executive Officer of the Company, effective immediately. Nick Campbell, current Chief Executive Officer, will be stepping down and departing the Company.

Darren McLean, Chair of the Board, states, "Mayfair is on the path to build and operate the Fenn-Gib Gold Project. By appointing Drew, an accomplished operator, as CEO, the Company is well positioned to execute on this plan. The Board would like to thank Nick for his leadership and contributions, including his work in elevating the Fenn-Gib story, progressing the NYSE American listing, and advancing us to this point. We wish him well in his future endeavours."

"Mayfair is advancing with Fenn-Gib project designs and moving into the approvals phase with momentum and a team built to deliver," said Drew Anwyll, P.Eng., incoming CEO. "I'm proud of the culture of excellence, ownership, and execution that exists within the organization. Our focus is to move Fenn-Gib toward production on an accelerated path, with discipline. I look forward to stepping into this role and am committed to further strengthening relationships with Indigenous partners, local communities, government agencies, and all stakeholders as we advance together."

Nick Campbell, outgoing CEO, said, "My role at Mayfair was to help shape the strategy with the Board, begin telling the story, and bring the team together to execute on that vision. That foundation is now firmly in place. The team Drew has assembled stands out in any project development organization. The culture Drew has fostered in such a short time is remarkable, and I look forward to watching Mayfair continue to advance."

Biography: Drew Anwyll, P.Eng., B.Eng., M.Eng.

Chief Executive Officer, Mayfair Gold Corp.

Drew Anwyll is a seasoned mining executive and Professional Engineer with more than 30 years of experience in the development, construction, and operation of large-scale gold assets across Canada and internationally and has previously served as a Director for several publicly traded mining entities. Known as a "mine builder" with a proven track record of navigating complex regulatory landscapes, Mr. Anwyll's appointment as CEO marks a strategic development for Mayfair Gold as it advances the Fenn-Gib Gold Project toward production.

His career is defined by his ability to bridge the gap between technical feasibility and operational reality, particularly within the Ontario mining jurisdiction. Most recently, Mr. Anwyll served as Mayfair's Chief Operating Officer, where he spearheaded the 2026 Pre-Feasibility Study (the "PFS") and the commencement of Front-End Engineering and Design (FEED) for the Fenn-Gib Project.

Expertise in Provincial Permitting and Regulatory Success

Mr. Anwyll's most recent success at Generation Mining Limited (2020–2025) is directly applicable to Mayfair's objective of getting into Ontario's "One Project, One Process" (1P1P) permitting framework. As Chief Operating Officer at Generation Mining, he was the primary architect of the technical and environmental strategy for the Marathon Palladium-Copper Project.

Under his leadership, the Marathon Project successfully navigated a rigorous Joint Federal and Provincial Review Panel for its Environmental Assessment, receiving government approval in late 2022, and further advanced the Project through the permitting process. His strong working relationships with the Ontario Ministry of Energy and Mines and the Ministry of Environment, Conservation and Parks were instrumental in securing key construction permits. This experience with interdisciplinary, multi-agency requirements is a critical asset as Mayfair seeks to streamline its own approval timelines under Ontario's 1P1P initiative, which emphasizes concurrent provincial reviews to accelerate projects.

A Legacy of Large-Scale Production: The Detour Lake Benchmark

Prior to his tenure at Generation Mining, Mr. Anwyll spent nearly a decade at Detour Gold Corporation (2011–2018), where he held senior executive roles including Senior Vice President of Technical Services and Interim COO. He was a cornerstone of the leadership team that transformed the Detour Lake Project from a massive resource on paper into one of Canada's largest and most efficient gold mines.

His accomplishments at Detour Lake are particularly relevant to the Fenn-Gib Project's open-pit profile:

• Construction through ramp-up: He contributed through construction and oversaw the initial start-up and operational scale-up of the Detour Lake mine, managing throughput that exceeded 65,000 tonnes per day at the processing plant and more than 200,000 tonnes per day in the mining operation.
• Strategic optimization: He led long-term technical planning and resource delineation that established the mine as a "tier-one" global asset, which eventually led to its successful C$4.9 billion acquisition and integration into Agnico Eagle's portfolio.
• Operational excellence: His focus on high-capacity open-pit mining and operational efficiency at Detour Lake provides Mayfair with the executive oversight needed to de-risk the Fenn-Gib construction phase.

Vision for Mayfair Gold

As CEO, Mr. Anwyll is focused on executing a disciplined transition from exploration to production. His strategy integrates technical design elements with a modern permitting framework, ensuring that Mayfair advances the Fenn-Gib Gold Project efficiently within the Timmins mining camp. His technical rigor, combined with a decade of specific experience in Northern Ontario's permitting, Indigenous engagement, and labour markets, positions Mayfair Gold to deliver on its promise of becoming Ontario's next significant gold producer.

Mr. Anwyll holds a Bachelor's and a Master's degree in Mining Engineering from McGill University. He is a registered Professional Engineer in Ontario.

About Mayfair Gold

Mayfair Gold is a Canadian development-stage gold company focused on advancing the 100% controlled Fenn-Gib Project in the Timmins region of Northern Ontario. The 2026 Pre-Feasibility Study (the "PFS") outlines the potential to develop Fenn-Gib into a new Canadian gold producer, with initial development capital of C$450 million, a base-case payback period of 2.7 years, and cumulative free cash flow of US$896 million over the first six years of production based on a US$3,100/oz gold price. The Company is advancing permitting activities, detailed engineering, and stakeholder engagement with the goal of starting construction in 2028 with initial production in 2030.

The content of this news release has been reviewed on behalf of the Company and approved by Drew Anwyll, P.Eng., Chief Executive Officer of Mayfair, a QP as defined in NI 43-101.

Cautionary Note Regarding Forward-Looking Information

This news release contains certain forward-looking information within the meaning of applicable Canadian securities legislation and forward-looking statements within the meaning of applicable United States securities legislation (collectively, "forward-looking information"). The use of the words "will" and "expected" and similar expressions is intended to identify forward-looking information. Forward-looking information in this news release includes, but is not limited to, building and operating the Fenn-Gib Project, the Company's promise of becoming Ontario's next significant gold producer and all disclosure related to the PFS, including expected commencement of construction and production. Although Mayfair Gold believes that the expectations reflected in such forward-looking information is reasonable, readers are cautioned that actual results may vary from the forward-looking information. The Company has based the forward-looking information on the Company's current expectations and assumptions about future events. This information also involves known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information, including the risks, uncertainties, and other factors identified in the annual information form and Form 40-F of the Company for the year ended December 31, 2025, available under the Company's profiles on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov, respectively. Furthermore, the forward-looking information contained in this news release is as at the date of this news release, and Mayfair does not undertake any obligation to publicly update or revise any of this forward-looking information except as may be required by applicable securities laws.

Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

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SOURCE Mayfair Gold Corp.

FAQ

Who is the new CEO of Mayfair Gold (MINE) as of May 4, 2026?

Drew Anwyll, P.Eng., is the new CEO effective May 4, 2026. According to Mayfair Gold, he was previously COO, led the 2026 PFS and began FEED for the Fenn-Gib Gold Project, and has over 30 years of mining experience.

What project progress did Mayfair Gold (MINE) report with the CEO appointment?

Mayfair reported completion of the 2026 Pre-Feasibility Study and commencement of FEED for Fenn-Gib. According to Mayfair Gold, these steps are intended to advance the project toward approvals and detailed engineering.

How does Drew Anwyll’s experience affect Mayfair Gold’s permitting prospects for Fenn-Gib?

Anwyll has direct experience with Ontario's One Project, One Process permitting framework. According to Mayfair Gold, his prior roles helped navigate joint federal‑provincial reviews and secure key construction permits.

Will the outgoing CEO Nick Campbell remain with Mayfair Gold after May 4, 2026?

No, Nick Campbell is stepping down and departing the company effective immediately. According to Mayfair Gold, the board thanked him for his leadership, including NYSE American listing progress and elevating Fenn-Gib awareness.