Mayfair Gold Names Nicholas Campbell as CEO
Mayfair Gold Names Nicholas Campbell as CEO
VANCOUVER, British Columbia, January 2 8, 2025 – Mayfair Gold Corp. (“ Mayfair”, o r t h e “Company”) (TSX-V: MFG;
OTCQX: MFGCF) is pleased to announce that its board of directors (“Board”) has appointed Nicholas Campbell, Mayfair’s
Vice President of Capital Markets, as the Company’s new Chief Executive Officer (“CEO”), effective January 27, 2025. He
succeeds Darren McLean, who has served as interim CEO since July 7, 2024, and will remain as Chairman of the Board.
“We are excited for Nicholas to move into the CEO role to lead Mayfair as the Company advances the Fenn-Gib gold project
(“Fenn-Gib”, or the “Project”) in Ontario, Canada,” said Mr. McLean. “Nick recently served as V ice President of Capital
Markets at Artemis Gold (ARTG: TSX -V) and Executive Vice President of Business Development at SilverCrest Metals
(SIL:TSX). This provides Nick with invaluable experience to help navigate Mayfair as the C ompany shifts its focus at Fenn-
Gib from exploration to development and production.”
Mr. Campbell stated, “This is an exciting time to lead the Mayfair Gold team. I look forward to working with the Board to
advance the Fenn-Gib gold project with a commitment to safety, stakeholder engagement and environmental stewardship.
The Fenn-Gib gold project has an established 4.3 million-ounce indicated mineral resource with a higher-grade near surface
starter zone which we believe could enhance the Project’s economics. Highway access to site and nearby power availability
provide Mayfair with the opportunity to advance the Fenn- Gib project quickly, targeting a smaller scale operation to start
with a focus on the higher-grade starter zone. In 2025, we will be working to add to the technical depth of the management
team with the goal of releasing a Pre-Feasibility Study for the Fenn-Gib project in the second half of 2025.”
Mr. Campbell has more than 20 years of experience in the mining, minerals, and metals industry, and has held several
leadership positions. Prior to joining Mayfair, Mr. Campbell was Vice President of Capital Markets of Artemis Gold Inc., an
emerging gold p roducer in British Columbia, Canada. Prior to that, Mr. Campbell served as Executive Vice President of
Business Development of SilverCrest Metals Inc. and Chief Financial Officer of Goldsource Mines Inc.
Mayfair has granted Mr. Campbell 175,000 incentive stock options under the Company’s share option plan at an exercise
price of $1.70. The options vest 1/3 on each of the date of grant and the first and second anniversary of the date of grant,
and are exercisable for a five-year term expiring on January 28, 2030.
About the Fenn-Gib Project
The Fenn-Gib project comprises two property packages, referred to as the Fenn- Gib North and South Blocks, which are
separated by approximately three kilometers. The Fenn- Gib Deposit is located on the North Block along the regional
Contact Fault, an east-west to south-east trending shear zone on the Pipestone Fault, which is interpreted to be a splay off
the Porcupine-Destor Fault. The Fenn-Gib Deposit hosts significant concentrations of gold mineralization within two zones:
(i) the Main Zone, and (ii) the Deformation Zone. These two zones overlap completely. A third zone of mineralization, known
as the Footwall Zone, is located approximately 100 meters to the north west of the Fenn- Gib Deposit. A fourth zone of
mineralization, known as the Contact Zone, is located at depth below the current pit-constrained resource.
September 3, 2024 Fenn-Gib Resource Estimate by Category Using 0.30 g/t Au Cut-Off
Style Class Tonnes Au (g/t) Au (ounces)
Open pit Indicated 181,302,000 0.74 4,313,000
Open Pit Inferred 8,921,000 0.49 141,000
All mineral resources have been estimated in accordance with Canadian Institute of Mining and Metallurgy and Petroleum
definitions, as required under National Instrument 43 -101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
Ounce (troy) = metric tonnes x grade / 31.10348. All numbers have been rounded to reflect the relative accuracy of the
estimate. Please refer to Mayfair’s news release dated September 10, 2024 titled “ Mayfair Gold Updates Fenn-Gib Open-
Pit Mineral Resource and Initiates an Expanded Metallurgical Test Program”.
Qualified Person
Tim Maunula, P . Geo., of T. Maunula & Associates Consulting Inc, is a qualified person for the purposes of NI 43-101 and
was responsible for the completion of the updated mineral resource estimation. Mr. Maunula has reviewed and approved
the technical content with respect to the mineral resource estimate in this news release. All other technical information in
this news release has been reviewed by Ali Gelinas -Dechene, P .Geo., Senior Geologist for Mayfair Gold, and serves as a
Qualified Person under the definition of NI 43-101.
About Mayfair Gold
Mayfair Gold 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 and currently hosts an
updated NI 43-101 open pit constrained mineral resource estimate with an effective date of September 3, 2024 with a total
Indicated Resource of 181.3M tonnes containing 4.313M ounces at a grade of 0.74 g/t Au and an Inferred Resource of 8.92M
tonnes containing 0.14M ounces at a grade of 0.49 g/t Au at a 0.30 g/t Au cut-off grade.
Cautionary Notes to U.S. Investors Concerning Resource Estimates
This news release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which
differ from the requirements of the U.S. securities laws. In particular, and without limiting the generality of the foregoing,
the terms “mineral reserve” , “proven mineral reserve” , “probable mineral reserve” , “inferred mineral resources, ” “indicated
mineral resources, ” “measured mineral resources” and “mineral resources” used or referenced in this presentation are
Canadian mineral disclosure terms as defined in accordance with NI 43 -101 under the guidelines set out in the 2014
Canadian Institute of Mining, Metallurgy and Petroleum Standards for Mineral Resources and Mineral Reserves, Definitions
and Guidelines, May 2014 (the “ CIM Standards”). The CIM Standards differ from the mineral property disclosure
requirements of the U.S. Securities and Exchange Commission (the “ SEC”) in Regulation S-K Subpart 1300 (the “ SEC
Modernization Rules”) under the U.S. Securities Act of 1933, as amended (the “Securities Act”). As a foreign private issuer
that is eligible to file reports with the SEC pursuant to the multijurisdictional disclosure system, the Company is not
required to provide disclosure on its mineral properties under the SEC Modernization Rules and will continue to provide
disclosure under NI 43 -101 and the CIM Standards. Accordingly, the Company’s disclosure of mineralization and other
technical information may differ significantly from the information that would be disclosed had the Company prepared the
information under the standards adopted under the SEC Modernization Rules.
Forward Looking Information
This news release contains forward -looking inf ormation which reflects management ’s expectations regarding the
Company’s growth, results of operations, performance and business prospects and opportunities. Forward -looking
statements in this news release include, but are not limited to, the anticipated benefits of Mr. Campbell’s skills and
experience to the Company as CEO, the anticipated opportunities for the Company’s growth, the Company’s shift in focus
at Fenn -Gib from exploration to development and production, the expected enhanceme nt of the Fenn- Gib project’s
economics through the higher -grade near-surface starter zone, the plans to advance the P roject quickly with a smaller -
scale initial operation, the goal of strengthening the management team’s technical expertise in 2025, and the timing and
contents of the Pre-Feasibility Study for the Fenn -Gib project in the second half of 2025 . Forward-looking information is
based on various reasonable assumptions including, without limitation, the expectations and beliefs of management; the
assumed long-term price of gold; that the Company can access financing, appropriate equipment and sufficient labour
and that the political environment where the Company operates will continue to support the development and operation
of mining projects. Should underlying assumptions prove incorrect, or one or more of the risks and uncertainties described
below materialize, actual results may vary materially from those described in forward-looking statements.
Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to
differ from those reflected in the forward-looking information, including, without limitation, risks and uncertainties relating
to foreign currency fluctuations; risks inherent in mining including environmental hazards, industrial accidents, unusual or
unexpected geological formations, ground control problems and flooding; delays or the inability to obtain necessary
governmental permits or financing; risks associated with the estimation of mineral resources and reserves and the geology,
grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be
consistent with the Company’s expectations; the potential for and effects of labor disputes or other unanticipated
difficulties with or shortages of labor; failure of plant, equipment or processes to operate as anticipated; actual ore mined
varying from estimates of grade, tonnage, dilution and metallurgical and other characteristics; the inherent uncertainty of
production and cost estimates and the potential for unexpected costs and expenses, gold price fluctuations; uncertain
political and economic environments; changes in laws or policies.
The Company undertakes no obligation to publicly update or review the forward-looking statements whether as a result of
new information, future events or otherwise, other than as required under applicable securities laws. The forward-looking
statements reflect management’s beliefs, opinions and projections as of the date of this news release.
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.
For further information , please visit www.mayfairgold.ca or direct enquiries to: Nicholas Campbell , CEO, Mayfair Gold
Corp., 489 McDougall St, Matheson, ON P0K 1N0 Canada, +1 (800) 342-6705, [email protected].