Mayfair Gold Corp. · TSXV:MFG
Mayfair Gold — Investor Presentation (October 2026)
38 slides from Mayfair Gold's investor presentation, October 2026
Slide 1: Creating Optionality Through Disciplined Project Development
Creating Optionality Through Disciplined Project Development Oct 2026
Slide 2: Cautionary Note Regarding Forward Looking Statement
Cautionary Note Regarding Forward Looking Statement This presentation contains "forward looking information" for purposes of applicable securities laws ("forward-looking statements"). Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are base
Slide 3: Why Mayfair Gold?
Why Mayfair Gold? Unlocking the Value of Fenn-Gib – 4.3 Moz Indicated Gold Resource Strategic Path to Ideal Location to Build with Management: Production Exploration Upside Proven & Aligned ▪ Accelerated Provincial permitting - expected in 2028 ▪ Prolific Timmins gold district ▪ A management team wi
Slide 4: Located in the Timmins Gold District
Located in the Timmins Gold District ▪ Timmins region has historically produced more than 100 Million ounces of gold ▪ Excellent access, infrastructure, labour pool and services 4 NYSE AM: MAYFAIR MINE GOLD | TSXV: TAGLINE CANMFG BE PLACED HERE MAYFAIRGOLD.CA
Slide 5: High Grade Starter Zone: A Strategic Advantage
High Grade Starter Zone: A Strategic Advantage The near surface high-grade zone allows for early Payback Robust early economics Mining and processing of higher-grade material at the start PFS Open Pit Phase I Pit A key to our accelerated permitting path Most peers don’t have this geological option G
Slide 6: Accelerated Path to Free Cash Flow
Accelerated Path to Free Cash Flow Strategic Path = Accelerated Big, But Slow Path Faster Provincial permitting, 2–3 years Federal permitting, 7–9 years Permitting ‘One Project, One Process’ framework Significantly longer timeframe and uncertainty to schedule < 5,000 tpd Mill / Mine Size +5,000 tpd
Slide 7: Strategic Path Shortens Development Timeline
Strategic Path Shortens Development Timeline We are here – catalyst-rich schedule over next 12 months Production & Exploration Discovery Feasibility Permitting and Financing Construction/Ramp up Reinvestment Big, But Slow 8 years 2033 2035 Strategic 2 to 3 years 2028 2030 7 NYSE AM: MAYFAIR MINE GOL
Slide 8: 2026 Pre-Feasibility Study Highlights
2026 Pre-Feasibility Study1 Highlights PFS1 has 1Moz Reserve at US$3,100 gold. Leaves optionality on 3.3Moz Indicated Resource not mined in PFS Life of Mine Base Case → $114M $1,707M LOM Avg Annual FCF2 Cumulative FCF2 64,096 koz 1.29 g/t Gold US$1,292/Oz LOM Average Annual LOM Avg Gold Grade LOM Av
Slide 9: Grade and Production Profile
Grade and Production Profile • Fenn-Gib PFS1 focuses on a high-grade core with average grade of 1.3 g/t Au over the 14.3 year projected mine life • First six years of steady operations expected to produce on average 71koz/year with 1.47 g/t feed grade 2026 PFS Production and Grade Profile 100 1.65 1
Slide 10: Predictable Schedule to Production/FCF
Predictable Schedule Project designs and impacts stay within the Ontario to Production/FCF environmental approval threshold ▪ Production Profile < 5,000 tonnes per day plant throughput and ore mined DEFINING THE SMALL-SCALE PROJECT TO DERISK ▪ No significant impacts to areas of federal jurisdiction
Slide 11: Catalyst-Rich Schedule
Catalyst-Rich Schedule Q3 – Q4 2026 ▪ One Project One Process (1P1P) application and designation ▪ Detailed Engineering & EPCM selection Q4 2026 ▪ Plant equipment and mobile fleet manufacturer selection & long lead procurement Q4 2026 - Q1 2027 $ ▪ Project debt financing ✓ Q1 – Q4 2027 ▪ Indigenous
Slide 12: Ontario's One Project, One Process
Ontario’s One Project, One Process STREAMLINED PERMITTING FOR DESIGNATED MINING PROJECTS HOW THE PROCESS WORKS WHAT CHANGES? ✓ Single point of contact PROJECT DEFINITION A dedicated MEM Team Lead coordinates 1 Proponent submits complete project scope and supporting Proponent-led the Mine Authorizati
Slide 13: Initial Capex Funding
Initial Capex Funding MACQUARIE FINANCING PACKAGE FUNDS ~2/3 INITIAL PROJECT CAPEX PROPOSED FINANCING PACKAGE Illustrative funding bridge (C$ millions) C$300M non-binding debt term sheet 600 subject to due diligence and customary closing conditions C$100M C$10M equity subscription agreement at 400 C
Slide 14: Mayfair is Uniquely Positioned for a Rapid Re-Rate
Mayfair is Uniquely Positioned for a Rapid Re-Rate • The analysis below compares relative valuation to expected timeline to production and project development risk profile for select gold projects in the Americas ‒ Timeline to production is based on analyst consensus estimates for year of first prod
Slide 15: Relative Developer Share Price Performance
Relative Developer Share Price Performance Developers can realize significant share price re-rating as permitting, financing and execution risks are mitigated Average Relative Performance of Select Developers 24-Months Prior to Announcement of a Formal Construction Decision vs. GDXJ* 250% 208% Outpe
Slide 16: Rerating Potential
Rerating Potential Permitting, Project Debt Financing and Indigenous Agreements may drive near term re-rating EV/oz resource: Mayfair vs. Advanced Developers and Producers Re-Rating Potential $600 ▪ Developers within three years of production trade $487/oz at a premium $500 $400 EV / oz (US$/oz) ▪ P
Slide 17: Rerating Potential
Rerating Potential Current Trading vs. Net Asset Value and Comps (C$/Share **) Producer Re-Rate +455% or +456% ~60% CAGR to 2030 20.00 5.72 4.34 16.40 5.23 3.60 1.11 3.60 MFG Market Cap Fenn-Gib NAV @ $3,100/oz Incremental NAV Remaining Indicated Yrs 2-6 avg Annual Upside Potential @ $4,450/oz Resou
Slide 18: The Team – Experienced Builders and Operators
The Team – Experienced Builders and Operators MANAGEMENT TEAM Drew Anwyll, P.Eng. Kevin Annett, CPA Des Tranquilla, P.Eng. CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER CHIEF PROJECTS OFFICER 30+ years in global mining. Former COO of 15+ years in mining finance, construction and 35+ years in proje
Slide 19: The Team – 36% Insider Ownership
The Team – 36% Insider Ownership BOARD OF DIRECTORS & STRATEGIC ADVISOR Darren McLean Sean Pi, CFA Carson Block Zach Allwright Christine Hsieh Pierre Beaudoin CHAIR OF THE BOARD DIRECTOR DIRECTOR DIRECTOR DIRECTOR STRATEGIC ADVISOR ▪ Director of Research ▪ Partner at Heeney Capital ▪ Founder and Chi
Slide 20: Land Position: a Target Rich Location
Land Position: a Target Rich Location Mayfair is located on one of the most prolific structures in the region and surrounded by past producers ▪ The Abitibi Greenstone belt has produced over 190 million ounces and has a gold endowment of over 300 Moz ▪ The two main controlling features are the Desto
Slide 21: Exploration Potential
Exploration Potential ▪ The Fenn-Gib deposit is proof of substantial exploration potential in our land package ▪ The South Block is largely unexplored and sits along the Porcupine-Destor Fault ▪ New Plato ground (Guibord) is very attractive and perfectly situated ▪ North Block is open at depth and a
Slide 22: Capitalization Structure
Capitalization Structure MANAGEMENT & INSIDERS 36% INSTITUTIONAL Issued and Outstanding on List 67.1 M 17% Options & Warrants 2.5 M HNW Fully Diluted Shares 69.7 M RETAIL Share Price (as at Sept 30, 2026) $3.82 Market Capitalization (C$ M) Combined CAD/US Volume TSXV Close $256 NYSE Close 19% C$23M
Slide 23: Mayfair Checks ALL the Boxes
Mayfair Checks ALL the Boxes Great Mines are Built, Not found Mayfair on the path to developing a Great Mine Geology Jurisdiction Management Market and Board Conditions Drives revenues Drives execution Drives execution Drives cost and and margin timeline and probability availability of proba
Slide 24: Appendix
Appendix TSX-V : MFG | NYSE AM: MINE | mayfairgold.ca
Slide 25: 2026 PFS1 Study Summary Tables
2026 PFS1 Study Summary Tables Fenn-Gib 2026 PFS1 Summary General Units LOM Operating Metrics LOM Total/Avg. Y1-Y6 Gold Price US$ / oz Gold 3,100 Mine Life yr 14.3 F/X C$:US$1 1.35 Daily Throughput tpd 4,800 4,800 Strip Ratio w:o 6.0:1 7.7:1 Operating Costs per Ounce LOM Y1-Y6 Avg. Gold Grade g/t 1.
Slide 26: Free Cash Flow Sensitivity to Gold Price
Free Cash Flow2 Sensitivity to Gold Price 350 2,500 Cumulative After-Tax Cash Flow ($ M) 300 2,000 After-Tax Cash Flow ($ M) 250 200 1,500 150 1,000 100 500 50 0 0 -50 Y-3 Y-2 Y-1 Y1 Y2 Y3 Y4 Y5 Y6 Y7 Y8 Y9 Y10 Y11 Y12 Y13 Y14 Y15 Y16 -500 -100 -1,000 -150 -200 -1,500 $2,500 PFS Base Case $3,100 $4,
Slide 27: Re-Rating Opportunity: Catch Up Trade
Re-Rating Opportunity: Catch Up Trade ▪ 2025 = untold story: transition year as management refined the Fenn-Gib development strategy ▪ 2026 = visibility and awareness of strategic path and execution capability GDXJ Mayfair Comparables 5 4.5 Comps 4 +273% 3.5 3 2.5 GDXJ 2 +115% 1.5 1 MFG 0.5 -19% Man
Slide 28: Plant Site Layout
Plant Site Layout 28 NYSE AM: MAYFAIR MINE GOLD | TSXV: TAGLINE CANMFG BE PLACED HERE MAYFAIRGOLD.CA
Slide 29: Integrated Site Layout
Integrated Site Layout Plant Site and Admin/ Support bldgs Primary Crusher Open Pit Tailings Storage Area Mine Rock Water Storage Area Management Structure 29 NYSE AM: MAYFAIR MINE GOLD | TSXV: TAGLINE CANMFG BE PLACED HERE MAYFAIRGOLD.CA
Slide 30: Integrated Site Layout
Integrated Site Layout 30 NYSE AM: MAYFAIR MINE GOLD | TSXV: TAGLINE CANMFG BE PLACED HERE MAYFAIRGOLD.CA
Slide 31: De-Risking the Early Gold Production
De-Risking the Early Gold Production: Grade Control Program Confirms Resource Model and Identifies High-Grade Upside RESULTS: ▪ 56 DDH completed on a close-spaced 10 m x 10 m grid to simulate future grade control drilling ▪ Program tested approximately 1 Mt of ore, representing ~25% of Phase 1 Open
Slide 32: Fenn-Gib Gold Project: 4.3 Million Ounce Indicated Gold Resource
Fenn-Gib Gold Project: 4.3 Million Ounce Indicated Gold Resource Indicated Cutoff (Au g/t) Tonnes Au (g/t) Au(ounces) 300,000+ 97% >0.7 64,563,000 1.26 2,615,000 Metres drilled Indicated resource category >0.6 82,125,000 1.13 2,984,000 >0.5 105,644,000 1.00 3,397,000 Indicated Gold Resource Estimate
Slide 33: Capex & Opex Breakdown
Capex & Opex Breakdown Initial Capex (C$ M) Initial Capex Cost Breakdown Mining $31.4 Mining Crushing $21.6 7% Contingency Crushing Process Plant $114.7 5% 15% On-Site Infrastructure $72.4 Other Infrastructure $15.6 Project Preliminaries $35.9 Project Indirects $30.7 Owner’s Owner’s Cost $61.7 Cost
Slide 34: Fenn-Gib Process Flow Sheet (PFS)
Fenn-Gib Process Flow Sheet (PFS) ▪ Conventional metallurgical flowsheet ▪ Current design is advancing improvements to the crushing circuit for improved winter operations ▪ Similar to Alamos Gold's Young Davidson mine ▪ Metallurgical recovery range of 80 - 90% Au for a head grade of 0.2 - 1.5 g/t So
Slide 35: Quality Metallurgical Testing: De-Risked Plant Design
Metallurgical Testwork: Quality Metallurgical Testing De-Risked Plant Design ▪ 4 Phases of met testing completed since 2010 to define: ▪ mineral characterization and rock properties Quality Metallurgical Testing → Defined Plant Flow Sheet ▪ metallurgical performance (for processing option evaluation
Slide 36: 2025 Fenn-Gib Metallurgical Test Results
2025 Fenn-Gib Metallurgical Test Results 2025 Metallurgical Testwork Program Targets to support the 2025 PFS: • Ball Mill grind size of 80% passing 106 µm • 23 to 29% concentrate mass pull • Fine grinding size of 80% passing 13 µm • 30-hr cyanidation period (rate kinetic samples taken at 6, 12, 18,
Slide 37: THANK YOU
THANK YOU Drew Anwyll, P.Eng CEO Drew@mayfairgold.ca Zayem Lakhani VP Corporate Development & Strategy Zayem@mayfairgold.ca
Slide 38: Endnotes
Endnotes 1. References in this presentation to PFS or Pre-Feasibility Study refers to the company’s NI-43-101 Technical Report and Pre-Feasibility Study for Fenn-Gib dated January 14, 2026 with an effective date of December 19, 2025. 2. This presentation and certain documents incorporated by referen