Mayfair Gold’s Fenn-Gib Project Maintains Carbon Neutrality for 2022
Mayfair Gold’s Fenn-Gib Project Maintains Carbon Neutrality for 2022
• Carbon offsets purchased to mitigate 2022 GHG emissions
• Canada-wide Thermal Residential Heating Project funded
• Vision to design Canada’s first carbon neutral gold mine
VANCOUVER, British Columbia, June 22, 2023 -- Mayfair Gold Corp. (“ Mayfair” or the “Company”) (TSX-V: MFG; OTCQB:
MFGCF) is pleased to announce that the Fenn-Gib Project (“Fenn-Gib”), Canada’s first carbon neutral gold project, has
purchased carbon offsets to account for emissions from Company-wide activities during 2022, the Company’s second year of
operations. Mayfair’s 100% controlled Fenn-Gib Project, located in the Timmins region of Northeast Ontario, hosts a NI 43-
101 open-pit constrained Indicated mineral resource estimate of 3.38 million ounces (Moz) gold (Au) at a grade of 0.93 grams
per tonne (g/t) Au and an Inferred mineral resource of 0.16Moz Au at 0.85 g/t Au (see the “About Mayfair” section below). The
near-surface Fenn-Gib gold mineralization is broadly disseminated striking east-west on the Pipestone Fault over more than
1.5 kilometers (km) and is over 500 meters (m) wide at the west end.
Mayfair Gold President and CEO Patrick Evans commented: “Gold is Canada’s most valuable mined commodity, valued in
excess of $12 billion annually. The industry is a significant driver of economic activity across Canada, directly employing
approximately 400,000 Canadians and offering the highest average annual industrial rate of pay in the country. The future of the
industry depends critically upon sustainable development. At Fenn-Gib, we are laying the foundation for Canada’s first carbon
neutral gold mine. Our commitment started on January 1, 2021, when Mayfair acquired Fenn-Gib, and will continue through our
exploration program, mine development, operations, and eventual closure.”
An independent assessment of the Company’s activities, conducted by Toronto-based Carbonzero, determined Mayfair Gold’s
Scope 1, 2, and material Scope 3 GHG emissions to be 688 tonnes of CO 2-equivalent. These emissions related principally to
exploration activities at Fenn-Gib, where a total of 64,838m was drilled in 116 holes.
To compensate for these emissions, Mayfair has purchased carbon offsets from Carbonzero to support the Canada-wide
Thermal Residential Heating Aggregation Project, with the offsets being retired on the Canadian Standards Association (CSA)
Clean CleanProjects® Registry. The project, which is verified under ISO-14064-2, replaces conventional residential fossil fuel
combustion heating with solar heating systems located at private residences across Canada. The carbon offset project was
specifically selected to directly benefit a broad range of Canadians.
About Mayfair
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 resource estimate with an effective date of April 6, 2023 of a total Indicated Resource of 113.69M tonnes containing
3.38M ounces at a grade of 0.93 g/t Au and an Inferred Resource of 5.72M tonnes containing 0.16M ounces at a grade of 0.85
g/t Au at a 0.40 g/t Au cut-off grade (Source: Tim Maunula, P. Geo., of T. Maunula & Associates Consulting Inc., who is
deemed a qualified person as defined by NI 43-101). The Fenn-Gib deposit has a strike length of over 1.5km with widths
ranging over 500m. The gold mineralized zones remain open at depth and along strike to the east and west. Recently
completed metallurgical tests confirm that the Fen-Gib deposit can deliver robust gold recoveries of up to 94%.
About Carbonzero
Carbonzero was founded in 2006 and has risen to become a leader in the design and implementation of corporate carbon
reduction strategies and solutions. Carbonzero assists organizations of all sizes by helping them measure, report and reduce
their emissions. Carbonzero’s approach, tools and services ensure that their clients can cost-effectively meet their GHG
measurement and reduction commitments as part of a corporate social responsibility (CSR) strategy.
For further information contact:
Patrick Evans, President and CEO
Email: [email protected]
Phone: (480) 747-3032
Web: www.mayfairgold.ca
Qualified Person Statement
Mayfair Gold’s disclosure of technical and scientific information in this news release has been reviewed and approved by
Howard Bird, P Geo., Vice President Exploration for the Company, who serves as a Qualified Person under the definition of
National Instrument 43-101.
Forward Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian
securities legislation (collectively, " forward-looking statements ") that relate to Mayfair’s current expectations and views of
future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions
or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are
expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast",
"projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements and may
involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those
expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and
such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only
as of the date of this news release.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties,
many of which are beyond Mayfair’s control, which could cause actual results and events to differ materially from those that
are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to,
the impact and progression of the COVID-19 pandemic and other factors. Mayfair undertakes no obligation to update or revise
any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required
by law. New factors emerge from time to time, and it is not possible for Mayfair to predict all of them, or assess the impact of
each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those
contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly
qualified in their entirety by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.