Mayfair Gold Corp. announce an updated mineral resource estimate at the Company's 100% controlled Fenn-Gib Gold Project, located in the Timmins region of Northeast Ontario. Based on assay results from 61 percent of the Company's current 110,000- meter (m) infill and expansion drill program, the Fenn-Gib deposit now hosts a NI 43-101 pit constrained Indicated mineral resource estimate of 3.06 million (M) ounces (oz) gold (Au) and an Inferred mineral resource of 0.31M oz Au.

The near-surface Fenn-Gib gold mineralization is broadly disseminated striking east-west on the Pipestone Fault over more than 1.25 kilometers (km) and is up to 300m wide at the west end. The 30,000m Phase 3 infill and expansion drill program is ongoing with gold mineralization continuing to be intersected in all holes reported to date. Based on the continuing success, Mayfair expects to declare a further resource update in Second Quarter 2023 on completion of the 110,000m drill program.

The potential exists for a further significant increase in the Fenn-Gib resource. Highlights of the Updated Fenn-Gib Mineral Resource Estimate: Pit constrained Indicated resource: 47% increase in Au to 3,061,991 oz from 2,077,661 oz; Pit constrained Inferred resource: 315% increase in Au to 311,356 oz from 74,967 oz; and Maiden underground resource: Inferred underground Au resource of 103,586 oz.