OTC Markets Group Welcomes Mayfair Gold Corp. to OTCQX

Rhea-AI Summary

OTC Markets Group Inc. announces that Mayfair Gold Corp. has graduated to the OTCQX Best Market from the OTCQB Venture Market. Effective immediately, Mayfair Gold trades under the symbol MFGCF. This transition highlights the company's commitment to meet rigorous financial standards and enhance visibility to U.S. investors. Mayfair Gold's flagship Fenn-Gib gold project in Ontario, with over 2 million ounces in indicated resources, is gearing up for an extensive drill program aimed at expanding its gold deposit, promising significant potential growth.

Positive

• Graduation to OTCQX indicates adherence to high financial standards and improved visibility for investors.
• The Fenn-Gib project holds over 2 million ounces of indicated gold resources, showcasing strong potential.
• Ongoing 80,000-meter drill program aims to increase gold reserves and enhance project value.

Negative

• None.

NEW YORK, June 30, 2022 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Mayfair Gold Corp. (TSX-V: MFG; OTCQX: MFGCF), a Canadian mineral exploration company, has qualified to trade on the OTCQX® Best Market. Mayfair Gold Corp. upgraded to OTCQX from the OTCQB® Venture Market.

Mayfair Gold Corp. begins trading today on OTCQX under the symbol “MFGCF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors.

Mayfair Gold President and CEO Patrick Evans said, “We are pleased to begin trading on the OTCQX Market, which will improve market information, transparency, liquidity and ease of trading in Mayfair Gold securities. Accessibility for investors in the United States to participate in our success at the Fenn-Gib gold project in Northeast Ontario is a priority for Mayfair Gold. We are nearing completion of an 80,000 meter infill and expansion drill program designed to increase the Fenn-Gib deposit beyond the current plus 2 million ounce indicated resource (See “About Mayfair Gold Corp” below). Combined with the exceptional gold recovery results reported from recent metallurgical testing, this work program positions Fenn-Gib as one of the highest quality gold projects in Ontario.”

About Mayfair Gold Corp.

Mayfair is a Canadian mineral exploration company focused on advancing the 100% controlled Fenn-Gib gold project in the Timmins region of Northern Ontario. The Fenn-Gib gold deposit is Mayfair’s flagship asset. An updated open-pit constrained NI 43-101 resource estimate (Source: “NI 43-101 Technical Report Fenn-Gib Project, Ontario, Canada” dated February 5, 2021, prepared by JDS Energy and Mining, Inc. and Kirkham Geosystems Ltd.) reported a total Indicated Resource of 70.2M tonnes containing 2.08M ounces at a grade of 0.921 g/t Au and an Inferred Resource of 3.8M tonnes containing 75,000 ounces at a grade of 0.618 g/t Au. The deposit has a strike length of approx. 1.25km with widths ranging up to 300m. The gold mineralized zones remain open at depth and along strike to the east and west.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX^® Best Market, OTCQB^® Venture Market and Pink^® Open Market.

Our OTC Link^® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

Subscribe to the OTC Markets RSS Feed

Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

FAQ

What is the significance of Mayfair Gold's move to OTCQX?

Mayfair Gold's transition to OTCQX signifies its compliance with high financial standards and aims to improve its visibility among U.S. investors.

When did Mayfair Gold start trading on the OTCQX?

Mayfair Gold began trading on the OTCQX on June 30, 2022.

What does the trading symbol MFGCF represent?

MFGCF is the trading symbol for Mayfair Gold Corp. on the OTCQX Best Market.

What are the resource estimates for the Fenn-Gib gold project?

The Fenn-Gib project has an indicated resource of over 2 million ounces of gold.

What is the purpose of the 80,000-meter drill program for Mayfair Gold?

The drill program aims to expand the Fenn-Gib deposit beyond the current resource estimates.