VANCOUVER, BC — February 11, 2026 — Leads & Copy —
Mayfair Gold Corp. has announced initial results from its grade control drilling program at the Fenn-Gib Project in Northern Ontario.
The program comprised 56 diamond drill holes totaling approximately 4,200 meters. All holes were drilled vertically on a 10 m x 10 m spacing pattern to a target depth of 75 meters. The program was completed within the core of the Phase 1 starter pit and represents roughly one million tonnes of material anticipated to form part of the initial plant feed once construction is complete.
According to Mayfair’s Mineral Resource consultant Jean-Francois Metail, the grade control program is already providing a high level of confidence in the block model within the starter pit. Metail added that the program is generating critical, mining‑scale information on ore geometry, dilution, and potential ore loss that will be helpful as the operation moves toward start‑up and early production.
Mayfair Gold CEO Nick Campbell said the initial results increase confidence in the highest‑grade, early years of the Fenn‑Gib mine. Campbell added that the results indicate potential for positive grade reconciliation, support the PFS early‑year assumptions, and are providing important data to advance project financing. Remaining assays are expected in Q1 2026.
The objective of the program was to simulate grade control drilling and provide additional data to support delineation of the near‑surface portion of the orebody. This news release reports results from 36 of the 56 drill holes; assays for the remaining holes are pending.
The objectives of the Grade Control Program were to:
- Validate near‑surface grade distribution and ore geometry using closely spaced grade‑control drilling
- Compare drilling results directly against the existing resource block model to assess local grade variability
- Improve definition of ore–waste boundaries to support efficient mining (i.e., reduce dilution and metal‑loss in both planning and operations)
- Increase confidence in grades and production during the ramp-up and early years of operations
- Contribute to broader strategy of de‑risking the Project following the PFS
- Enhance confidence for potential lenders as part of the Fenn-Gib project financing
These results are considered interim in nature until all data from the complete Program is received and all QAQC results have been verified. No conclusions are being drawn currently regarding potential impacts on the overall mineral resource estimate or mine plan. In addition, the drill results disclosed herein were not incorporated into the Company’s 2026 Pre-Feasibility Study, published on 8 January 2026 and titled “Fenn-Gib Project: NI 43101 Technical Report and Pre-Feasibility Study.” A copy of the technical report is available under the Company’s profile on SEDAR+.
Mayfair Gold maintains a Quality Assurance/Quality Control (QA/QC) program aligned with NI 43‑101 requirements and industry best practices. NQ‑size surface drilling was carried out by Black Diamond Drilling of Matheson, Ontario, under the supervision of Mayfair Gold’s exploration team. The drill program includes detailed geological logging and systematic sampling of drill core at Mayfair’s secure facility in Matheson, Ontario.
Drill core selected for analysis was cut longitudinally using a diamond‑blade saw. One half of the core was retained in the core box for reference, and the other half was bagged, sealed, and prepared for shipment. Analytical work was completed by Swastika Laboratories Ltd. in Swastika, Ontario. Swastika Laboratories is accredited by the Canadian Association for Laboratory Accreditation Inc. (CALA) and meets the ISO/IEC 17025 standards for gold analysis by fire assay with gravimetric finish and fire assay with flame atomic absorption spectroscopy (FAAS) finish.
Mayfair Gold is a Canadian gold development stage company focused on advancing the 100% controlled Fenn-Gib 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 with 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.
Source: Mayfair Gold Corp.
