Mayfair Gold Corp. announced positive results from the Company's 2022 preliminary metallurgical gold recovery test ("MET") program performed on seven separate composited corebased bulk samples from the FennGib deposit. The MET campaign is managed by Ausenco Engineering Canada Inc. ("Ausenco") as part of the planned preliminary economic assessment ("PEA") expected to be completed by Fourth Quarter 2022.

The 100% controlled FennGib deposit, located in the Timmins region of Northeast Ontario, hosts a NI 43 101 pitconstrained Indicated Resource of 2.08M ounces with disseminated gold mineralization striking eastwest on the Pipestone Fault over 1.25 kilometers (km) and is up to 300 meters (m) wide at the west end. The MET program was conducted to assess the potential gold recoveries and to support the selection of the most appropriate process flowsheet for the FennGib deposit. Ausenco selected seven different drill hole sample locations to be spatially distributed within the conceptual open pit shell, as well as to align with the estimated average gold grade.

The program was performed on the seven composited diamond drill core samples collected from NQ size half core taken from the 2021 drill program. Five of the samples are from the central, south, and east areas of the FennGib deposit, and the sixth is from the Footwall mineralization that lies within the conceptual open pit. The seventh composited sample is from the Footwall Zone outside of the conceptual open pit, which has potential for inclusion in future conceptual mine plans.

Three primary processing options for gold recovery were undertaken by SGS Minerals Services, including whole ore leach, flotation and flotation regrind leach. The tables below summarize the MET test results. The overall average recovery is 84.3%, with the best results in the central and south portions of the conceptual open pit.

Samples were ground to 80% passing approximately 70 µm prior to flotation, and flotation concentrates were reground to approximately 80% passing approximately 15 µm. Concentrate grades and recoveries were achieved with three cleaning stages. Concentrates contain between 80% and 95% pyrite. Final concentrate gold grades are sufficiently high to be sold for potential thirdparty processing in conjunction with the high pyrite contents.

The low head grade of the Footwall sample is a contributing factor in the low recovery. The Footwall U/G sample shows good metallurgy with high recoveries at a typical underground gold grade. The Footwall sample recovery is comparable to the whole ore leach recovery, while the Footwall U/G sample is lower.

Based on the above results, Ausenco will undertake a tradeoff study between the three selected process flowsheets in preparation for the PEA that will commence on completion of the 80,000m infill and expansion drill program currently underway. Approx. 66,000m of drilling has been completed to date.

The drill program is on target for completion by mid2022 and is expected to support a resource update by Third Quarter 2022.