Explain why Fenn-Gib has an Indicated Mineral Resource of 4.3 Moz but substantially less gold is ultimately produced in the PFS mine plan. Quantify the difference and explain the principal reasons for it
The PFS mine plan is our initial plan to get into production. Our decision to start small was driven by permitting timelines and execution risk (lower capital expenditure and easier project build). By starting small Mayfair can get permits via Ontario's 1P1P process in 2028 and get into production in 2030 without compromising the entire resource. Future expansions are possible if market conditions warrant and can be funded via internally generated free cash flow.
Published by Mayfair Gold’s investor relations team, from the company's approved public materials. Last updated November 5, 2026.