Mayfair Gold Presents the Initial Results from the 2025 Grade Control Drilling Program at the Fenn-Gib Project

Rhea-AI Summary

Mayfair Gold (NYSE: MINE) reported initial results from a 56‑hole, 4,200m grade control drilling program at the Fenn‑Gib Project on Feb 11, 2026. Results from 36 holes (≈2,355m) show a modest increase in average in‑rock grade to 1.47 g/t Au versus the block model 1.40 g/t Au, and 1,358m @ 2.21 g/t above a 0.8 g/t cutoff compared with the block model 1,788m @ 1.68 g/t.

These interim data are confined to the Phase‑1 starter pit, represent roughly one million tonnes of anticipated initial plant feed, and are intended to support PFS assumptions and project financing; 20 holes remain pending and QA/QC is ongoing.

Positive

• Grade control program comprised 56 holes / ~4,200 m targeting starter pit material
• Interim in‑rock average grade 1.47 g/t Au vs block model 1.40 g/t Au
• 1,358 m @ 2.21 g/t Au above 0.8 g/t cutoff in program versus block model 1,788 m @ 1.68 g/t Au

Negative

• Results are interim: only 36 of 56 holes reported; 20 holes pending
• Drill data not incorporated into the 2026 PFS and no conclusions on resource or mine plan yet
• All holes drilled vertical and true thickness not estimated, limiting direct thickness interpretation

News Market Reaction – MINE

+4.59%

4 alerts

+4.59% Session close to close

-5.0% Trough Tracked

$259.17M Market Cap

0.2x Rel. Volume

In the Feb 11 session, MINE gained 4.59%, reflecting a moderate positive market reaction. Argus tracked a trough of -5.0% from its starting point during tracking. Our momentum scanner triggered 4 alerts that day, indicating moderate trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement details interim results from Mayfair’s 56‑hole, 4,200 m Grade Control Program at F...

Analysis

This announcement details interim results from Mayfair’s 56‑hole, 4,200 m Grade Control Program at Fenn‑Gib, showing drilled grades broadly consistent with the existing block model, including 1,358 m @ 2.21 g/t above a 0.8 g/t cut-off. Only 36 holes are reported so far and the data are explicitly described as preliminary. Investors may track final assays, QA/QC completion, and how future studies integrate these results into mine planning.

Key Figures

Current share price: $3.92 Drill holes: 56 holes Program length: 4,200 m +5 more

8 metrics

Current share price $3.92 Pre-news level for MINE

Drill holes 56 holes Grade Control Program at Fenn-Gib, Northern Ontario

Program length 4,200 m Total diamond drilling in Grade Control Program

Average grade drilled 1.47 g/t Au Total 2,355 m with Au > 0.0 g/t in Grade Control Program

Block model grade 1.40 g/t Au Block model along same intervals, Au > 0.0 g/t

Intervals ≥0.8 g/t (drilled) 1,358 m @ 2.21 g/t Grade Control Program, cut-off 0.8 g/t Au

Intervals ≥0.8 g/t (model) 1,788 m @ 1.68 g/t Block model prediction, cut-off 0.8 g/t Au

SRC IR fee 6,000 CHF/month 12-month investor relations agreement with Swiss Resource Capital

Historical Context

1 past event · Latest: Feb 03 (Positive)

Pattern 1 events

Date	Event	Sentiment	24h Move	Catalyst
Feb 03	Strategic advisor hire	Positive	+2.5%	Appointment of experienced strategic advisor and issuance of stock options.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Limited history, but prior strategic/management news saw a modestly positive, aligned price reaction.

Recent Company History

Recent news for Mayfair Gold has focused on advancing the Fenn-Gib project and strengthening execution capability. On Feb 3, 2026, the company appointed Pierre Beaudoin as Strategic Advisor, highlighting construction and processing expertise and included 100,000 options at C$5.36. That announcement saw a 2.52% positive reaction. Today’s drilling results continue the theme of de‑risking and detailing early‑years production assumptions at Fenn‑Gib.

Key Terms

grade control, block model, cut-off grade, ni 43‑101, +4 more

8 terms

grade control technical

"initial results from the tight-spaced, grade control drilling program"

Grade control is the process used by mining and resource companies to measure and manage how rich or poor rock and ore are before they go into production, like checking the ripeness of fruit before it’s packed. It matters to investors because accurate grade control helps companies decide what to mine and when, directly affecting how much saleable material is produced, processing costs, and expected revenue — similar to choosing the best fruit to sell to maximize profit.

block model technical

"providing a high level of confidence in the block model within the starter pit"

A block model is a three-dimensional grid used in mineral exploration and mining that breaks a deposit into many small, adjacent cubes or “blocks,” with each block assigned estimated values such as metal grade, density, or rock type based on nearby samples. Investors care because the block model is the foundational picture used to estimate recoverable resources, plan extraction, forecast production and costs, and value a project — think of it as a pixelated map whose accuracy directly affects economic projections.

cut-off grade technical

"applying a cut-off grade of 0.8 g/t, the program indicates higher grades"

The cut-off grade is the minimum concentration of a mineral in rock that makes extraction and processing economically worthwhile; material below that level is treated as waste. It sets the boundary between ore and waste and directly affects reported reserves, projected mine life, and expected profits. Think of it like deciding which fruit on a tree is worth picking after accounting for the time and cost to harvest — raising or lowering that threshold can change how much “good” product a project appears to have.

ni 43‑101 regulatory

"aligned with NI 43‑101 requirements and industry best practices"

A Canadian regulatory standard for how mining companies must report mineral exploration results, resources and reserves, requiring an independent, certified geologist or engineer to prepare a detailed technical report. It matters to investors because it creates consistency and accountability—like a certified inspection report on a house—so published mineral estimates and project risks are more reliable and comparable when judging a mining asset’s value.

fire assay technical

"meets the ISO/IEC 17025 standards for gold analysis by fire assay"

Fire assay is a laboratory process used to accurately measure the amount of precious metals, like gold or silver, in a sample of ore or material. It involves heating the sample intensely to separate the metals from other substances, much like melting and purifying metal to determine its purity. This method is important to investors because it provides precise data on the metal content, helping to assess the value of mining operations or mineral deposits.

gravimetric finish technical

"gold analysis by fire assay with gravimetric finish and fire assay with flame"

A gravimetric finish is a precise way of measuring the final weight of a product or material after processing or manufacturing. It ensures that the final amount meets exact standards, similar to weighing ingredients carefully in cooking. For investors, it indicates attention to quality control and consistency, which can impact a company's reputation and product reliability.

atomic absorption spectroscopy (faas) technical

"fire assay with flame atomic absorption spectroscopy (FAAS) finish"

A laboratory technique that measures the concentration of metal elements by vaporizing a sample in a flame and measuring how much light those metal atoms absorb, much like using a colored flashlight to spot a specific dust particle. Investors care because it’s widely used for quality control, regulatory compliance and environmental testing; results can affect product safety, manufacturing costs, recall risk, permits and legal liability.

certified reference material technical

"one certified reference material (CRM), one coarse blank, and one coarse duplicate"

A certified reference material is a substance or sample with precisely measured properties and an official certificate that labs use to calibrate instruments and check testing accuracy, like a ruler for measurements. Investors care because reliable testing underpins product quality, regulatory approvals and compliance, and environmental or safety claims; using certified materials reduces the risk of costly recalls, failed audits or misleading results that can harm a company’s finances and reputation.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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VANCOUVER, BC, Feb. 11, 2026 /PRNewswire/ - Mayfair Gold Corp. ("Mayfair", "Mayfair Gold", or the "Company") (TSXV: MFG) (NSYE: MINE) is pleased to announce the initial results from the tight-spaced, grade control drilling program ("Grade Control Program" or "Program") at the Fenn-Gib Project in Northern Ontario.

Nick Campbell, CEO of Mayfair Gold commented, "These initial results increase our confidence in the highest‑grade, early years of the Fenn‑Gib mine. While preliminary, they indicate potential for positive grade reconciliation, support the PFS early‑year assumptions, and are providing important data to advance project financing. Remaining assays are expected in Q1 2026."

The Grade Control Program comprised 56 diamond drill holes totaling approximately 4,200 metres. All holes were drilled vertically on a 10 m x 10 m spacing pattern to a target depth of 75 metres. The program was completed within the core of the Phase 1 starter pit and represents roughly one million tonnes of material anticipated to form part of the initial plant feed once construction is complete.

The objective of the program was to simulate grade control drilling and provide additional data to support delineation of the near‑surface portion of the orebody.  This news release reports results from 36 of the 56 drill holes; assays for the remaining holes are pending.

These results are considered interim in nature until all data from the complete Program is received and all QAQC results have been verified. No conclusions are being drawn currently regarding potential impacts on the overall mineral resource estimate or mine plan. In addition, the drill results disclosed herein were not incorporated into the Company's 2026 Pre-Feasibility Study, published on 8 January 2026 and titled "Fenn-Gib Project: NI 43101 Technical Report and Pre-Feasibility Study." A copy of the technical report is available under the Company's profile on SEDAR+.

According to Jean-Francois Metail, Mayfair's Mineral Resource consultant, "In these interim results, the grade control program is already providing a high level of confidence in the block model within the starter pit. Just as importantly, it is generating critical, mining‑scale information on ore geometry, dilution, and potential ore loss that will be hugely useful as the operation moves toward start‑up and early production."

The objectives of the Grade Control Program were to:

• Validate near‑surface grade distribution and ore geometry using closely spaced grade‑control drilling
• Compare drilling results directly against the existing resource block model to assess local grade variability
• Improve definition of ore–waste boundaries to support efficient mining (i.e., reduce dilution and metal‑loss in both planning and operations)
• Increase confidence in grades and production during the ramp-up and early years of operations
• Contribute to broader strategy of de‑risking the Project following the PFS
• Enhance confidence for potential lenders as part of the Fenn-Gib project financing

The following figures illustrate the general location of the Program within the initial starter pit

(Interim) Grade Control Program Drill Data

The data presented provides a direct comparison between the intervals drilled during the Grade Control Program and those predicted by the current mineral resource block model.

Figure 1: Comparison of Grade Control and Block Model Results

(1)	(2)		(3)		(4)		(5)
Hole-ID	Grade Control Program		Block Model		Grade Control Program		Block Model
	Total Length (m)	Au Capped (g/t)	Au (g/t)		Length (m)	Au Capped (g/t)	Length (m)	Au (g/t)
	Au > 0.0 g/t				Au >= 0.80
MRE-FG25-001	63	0.93	1.14		24	1.78	39	1.53
MRE-FG25-002	70	1.42	1.23		37	2.21	52	1.49
MRE-FG25-003	64	1.54	1.07		43	2.06	41	1.35
MRE-FG25-004	66	1.02	1.18		41	1.42	41	1.65
MRE-FG25-005	64	1.17	2.22		35	2.06	51	2.63
MRE-FG25-006	64	0.92	1.23		15	2.22	46	1.58
MRE-FG25-007	63	0.99	1.51		31	1.47	46	1.93
MRE-FG25-008	62	0.90	0.95		11	2.78	36	1.24
MRE-FG25-009	63	0.89	1.00		31	1.32	36	1.45
MRE-FG25-010	66	1.08	1.14		31	1.86	41	1.52
MRE-FG25-011	66	0.74	1.20		25	1.24	46	1.45
MRE-FG25-012	65	1.42	0.92		26	2.92	41	1.22
MRE-FG25-013	64	2.54	0.92		36	4.16	46	1.07
MRE-FG25-014	65	1.75	1.51		51	2.13	46	1.97
MRE-FG25-015a	62	0.90	1.41		25	1.58	51	1.61
MRE-FG25-016	66	0.91	1.25		31	1.47	51	1.48
MRE-FG25-017	66	0.71	1.07		25	1.09	46	1.27
MRE-FG25-018	66	1.46	1.15		36	2.32	51	1.32
MRE-FG25-019	64	0.84	1.72		31	1.32	51	1.99
MRE-FG25-020	64	0.93	1.55		31	1.56	41	2.16
MRE-FG25-021	65	1.60	1.37		35	2.57	55	1.51
MRE-FG25-022	64	1.39	1.59		43	1.78	64	1.59
MRE-FG25-023	66	0.81	1.45		25	1.32	51	1.70
MRE-FG25-024	66	2.02	1.64		50	2.60	61	1.71
MRE-FG25-025	66	3.09	2.08		51	3.83	51	2.55
MRE-FG25-026	66	0.93	1.00		35	1.29	51	1.13
MRE-FG25-027	66	1.40	2.01		56	1.53	56	2.25
MRE-FG25-028	66	1.50	1.84		45	1.93	61	1.93
MRE-FG25-029a	66	1.51	1.38		45	1.96	66	1.38
MRE-FG25-030	66	1.21	1.49		35	1.85	56	1.64
MRE-FG25-031	66	1.92	1.24		56	2.14	61	1.28
MRE-FG25-032	66	4.25	1.98		56	4.92	56	2.23
MRE-FG25-033	66	2.25	2.17		61	2.37	61	2.31
MRE-FG25-035	66	3.02	1.52		51	3.80	41	2.00
MRE-FG25-036	66	1.51	1.16		40	2.11	50	1.29
MRE-FG25-041	66	1.24	0.90		45	1.54	36	1.21
Total	2,355	1.47	1.40		1358	2.21	1788	1.68
NOTE: All grade data based on 5m composites, thereby allowing for comparing of Grade Control Program diamond drill holes to the 5m resource block model

How to read the table and data format:

• Each row shows one 75m vertical drill hole from the grade‑control program and compares what the assayed grades against the 2026 PFS resource block model grade along the same path. The data is summarized into 5‑metre composites to allow for direct comparison against the 5m resource model block height.
  
  
• Comparing the in-rock portion of the drilled holes (column (2)) against the average grade reported over the same interval in the resource block model (Column (3)), the results show a modest increase in average grade (1.47g/t vs 1.40 g/t).
  
  
• When applying a cut-off grade of 0.8 g/t, the program indicates higher grades over somewhat shorter lengths (column (4)) versus the block model (column (5)) (1,358m @ 2.21 g/t vs. 1,788m @ 1.68 g/t).
  
  
• It should be noted that, while the Grade Control Program reports higher average grades over shorter mineralized intervals above the 0.8 g/t Au cutoff, the resulting grade–length product is broadly consistent with that predicted by the block model.

No conclusions are to be drawn from the Program until final assay results from the remaining 20 of the 56 drill holes are received and all QA/QC procedures have been completed.

QA/QC

Mayfair Gold maintains a Quality Assurance/Quality Control (QA/QC) program aligned with NI 43‑101 requirements and industry best practices. NQ‑size surface drilling was carried out by Black Diamond Drilling of Matheson, Ontario, under the supervision of Mayfair Gold's exploration team. The drill program includes detailed geological logging and systematic sampling of drill core at Mayfair's secure facility in Matheson, Ontario.

Drill core selected for analysis was cut longitudinally using a diamond‑blade saw. One half of the core was retained in the core box for reference, and the other half was bagged, sealed, and prepared for shipment. Analytical work was completed by Swastika Laboratories Ltd. in Swastika, Ontario. Swastika Laboratories is accredited by the Canadian Association for Laboratory Accreditation Inc. (CALA) and meets the ISO/IEC 17025 standards for gold analysis by fire assay with gravimetric finish and fire assay with flame atomic absorption spectroscopy (FAAS) finish.

Samples were delivered directly to Swastika Laboratories by Mayfair personnel. Samples are crushed to minimum 80% passing 1,700 μm. Samples are then split to obtain a 300–500 g sample using a rotary divider. 300–500 g samples are pulverized to minimum 85% passing 74 μm. Gold assays were completed using a 30‑gram fire assay with FAAS finish. Samples returning gold grades greater than 10 g/t were re‑assayed using a 30‑gram fire assay with gravimetric finish. As part of Mayfair's QA/QC protocol, one certified reference material (CRM), one coarse blank, and one coarse duplicate sample were inserted into the sequence of every 25 samples. Routine third‑party check assays are also performed.

All holes in the program were drilled fully vertical (-90° dip) and true thickness is not estimated.

Additional Disclosure Related to Investor Relations and Communication Advisory Services

The Company previously disclosed agreements with several investor relations and capital markets consultants. As per exchange requirements additional details are being provided herein.

Mayfair has entered into an agreement with Swiss Resource Capital AG (SRC) a Switzerland-based investor relations firm specializing in the resource space. Focusing its efforts in Europe, SRC will assist in messaging, communication, creation and design of materials, non-deal roadshows, virtual campaigns, targeted investor outreach and affiliated media awareness programs. Pursuant to the agreement, the company has agreed to pay a monthly fee of 6,000 CHF per month in arrears for a 12-month term. SRC is an arms-length private company based in Herisau, Switzerland owned and led by CEO Marc Ollinger. Neither SRC or Marc Ollinger have any interest, directly or indirectly, in the securities of the Company.

Mayfair has entered into an agreement with Triomphe Holdings Ltd., doing business as Capital Analytica, a marketing and public awareness company in the mining sector. Capital Analytica will provide digital awareness, monitoring and engagement reporting services. This includes dissemination of company material in an array of social media forums and monitoring of activity, engagement and sentiment. Pursuant to the agreement, the company has agreed to pay $150,000 payable in two tranches for a 6-month term with an option to renew for additional 6-month terms at a rate of $75,000. Capital Analytica is an arms-length company based in Nanaimo, B.C. owned and led by its Founder Jeff French. Capital Analytica does not have any interest, directly or indirectly, in the securities of the Company.

About Mayfair Gold

Mayfair Gold is a Canadian gold development stage company focused on advancing the 100% controlled Fenn-Gib Project in the Timmins region of Northern Ontario. The PFS outlines the potential to develop Fenn-Gib into a new Canadian gold producer for initial development capital of C$450 million, with a base case payback period of 2.7 years and cumulative free cash flow of $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 Operating 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 and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking Information"). The use of the words "will" and "expected" and similar expressions are intended to identify forward-looking information. This information includes statements that trading is expected to commence on the NYSE American on Tuesday, January 27, 2026, under the symbol "MINE", concurrent with the start of trading on the NYSE American, the Common Shares will cease trading on the OTCQX. Although Mayfair Gold believes that the expectations reflected in such forward-looking statements and/or information are reasonable, readers are cautioned that actual results may vary from the forward-looking information. The Company has based these forward-looking statements and information on the Company's current expectations and assumptions about future events including assumptions regarding final listing mechanics. 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 of the Company for the year ended December 31, 2024, available at www.sedarplus.ca. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and Mayfair does not undertake any obligation to publicly update or revise any of these forward-looking statements 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

What did Mayfair Gold (MINE) announce about the Fenn‑Gib grade control drilling on Feb 11, 2026?

The company reported initial results from a 56‑hole, ~4,200 m grade control program, with 36 holes released so far. According to the company, interim assays show a program average of 1.47 g/t Au versus the block model 1.40 g/t Au, with remaining assays pending.

How do the Fenn‑Gib grade control results affect the 2026 PFS assumptions for MINE?

Mayfair says the interim results increase confidence in early‑year, high‑grade portions of the mine and support PFS assumptions. According to the company, the data are intended to help advance project financing but are not yet incorporated into the 2026 PFS.

How much of the initial plant feed does the grade control program at Fenn‑Gib represent for MINE?

The program targeted roughly one million tonnes of material expected to form part of initial plant feed once construction is complete. According to the company, drilling was completed within the core of the Phase‑1 starter pit to inform early feed grades.

What key data gaps remain after Mayfair's initial Fenn‑Gib grade control release (MINE)?

Key gaps include pending assays for 20 of 56 holes and full QA/QC verification before conclusions can be drawn. According to the company, all remaining assay results and QA/QC must be completed before updating resources or the mine plan.

How did the grade‑length comparison between grade control drilling and the block model read for MINE's Fenn‑Gib program?

The program reported higher average grades over somewhat shorter mineralized lengths above a 0.8 g/t cutoff. According to the company, the grade–length product is broadly consistent with block model predictions despite shorter intervals.