Mayfair Submits Fenn-Gib Gold Project Notice of Project Status
Mayfair Submits Fenn-Gib Gold Project Notice of Project
Status
VANCOUVER, BC
,
Feb. 5, 2026
/CNW/ - Mayfair Gold Corp.
("Mayfair"
,
"Mayfair Gold"
, or the
"Company"
) (NYSE
American: MINE; TSX-V: MFG) is pleased to announce it has formally submitted a
Notice of Project Status ("NPS")
for
its 100%-owned
Fenn-Gib Gold Project (the "Project")
, located in the
Timmins
mining district of northeastern
Ontario
.
The NPS submission represents a meaningful milestone in the continued advancement of the Project. The submission of
the NPS formally registers the Fenn-Gib Gold Project with the Province of
Ontario
and notifies the Ministry of Energy and
Mines (
"MEM"
) that the Company intends to advance the Project to become a "mine in production" as defined in the
Ontario Mining Act. With the submission of the NPS, the Company will continue to advance the technical studies,
consultation processes, and permitting and approvals processes required to support planned future development.
This milestone is underscored by the Company's ongoing dedication to meaningful engagement with the Apitipi Anicinapek
Nation, a local First Nation rightsholder within the Treaty 9 area, as well as with other regional Indigenous and local
communities and stakeholders as the Project continues to advance. Advancing the Project reflects the Company's
proactive approach to regulatory compliance and supports continued derisking through environmental, technical and
socioeconomic work that will underpin future construction and operating approvals.
"
Submitting the Notice of Project Status is an important step in advancing Fenn-Gib toward development
," said
Nicholas
Campbell
, CEO. "
It provides a clear statement of our intent to advance the Project in a timely manner and reinforces our
commitment to responsible project planning, transparent engagement and alignment with
Ontario's
modernized mine
permitting process. We look forward to working closely with Indigenous communities, local stakeholders and
government agencies as we continue to advance this significant gold project
."
About
Mayfair Gold
Mayfair Gold
is a Canadian gold development stage company focused on advancing the 100% controlled Fenn-Gib Gold
Project in the
Timmins
region of
Northern Ontario
. The PFS outlines the potential to develop Fenn-Gib into a new Canadian
gold producer for initial development capital of
C$450 million
, with a base case payback period of 2.7 years and
cumulative free cash flow of
$896 million
over the first six years of production based on a
US$3,100
/oz gold price. The
Company is advancing permitting activities, detailed engineering and stakeholder engagement with the goal of starting
construction in 2028 and initial production in 2030.
The content of this news release has been reviewed on behalf of the Company and approved by
Drew Anwyll
, P.Eng.,
Chief Operating Officer of Mayfair, a QP as defined in NI 43-101.
Cautionary Note Regarding Forward-Looking Information
This news release contains certain "forward-looking information" and "forward-looking statements" within the meaning of
applicable Canadian and
United States
securities legislation, including the United States Private Securities Litigation
Reform Act of 1995 (collectively "forward-looking Information"). Forward-looking information is frequently, but not always,
identified by words such as "expects", "anticipates", "believes", "plans", "projects", "intends", "estimates", "envisages",
"potential", "possible", "strategy", "goals", "opportunities", "objectives", or variations thereof or stating that certain actions,
events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these
terms and similar expressions. This information includes statements regarding the Company's intention to advance the
Project to become a "mine in production" as defined in the Ontario Mining Act, the Company continuing to advance the
technical studies, consultation processes, and permitting and approvals processes required to support planned future
development, the Company continuing to derisk through environmental, technical and socioeconomic work that will underpin
future construction and operating approvals, the Company's pre-feasibility study outlining the potential to develop Fenn-Gib
into a new Canadian gold producer and the Company's goal of starting construction in 2028 with initial production in 2030.
Although
Mayfair Gold
believes that the expectations reflected in such forward-looking information are reasonable, readers
are cautioned that actual results may vary from the forward-looking information. The Company has based this forward-
looking information on the Company's current expectations and assumptions about future events. This information also
involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ
materially from those anticipated in such forward-looking information, including the risks, uncertainties and other factors
identified in the Company's annual information form for the year ended
December 31, 2024
, and registration statement
Form 40-F available at
www.sedarplus.ca
and sec.gov/edgar, respectively. Furthermore, the forward-looking information
contained in this news release is as at the date of this news release and Mayfair does not undertake any obligation to
publicly update or revise any of this forward-looking information except as may be required by applicable securities laws.
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.
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SOURCE
Mayfair Gold Corp.
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For further information:
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 (855) 350-5600,
CO: Mayfair Gold Corp.
CNW 07:00e 05-FEB-26