Mayfair Gold Corp. · TSXV:MFG
Mayfair Gold — Investor Presentation (February 2026)
27 slides from Mayfair Gold's investor presentation, February 2026
Slide 1: Creating Optionality Through Disciplined Gold Development
Creating Optionality Through Disciplined Gold Development February 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 Management: Ideal Location to Build with Production Exploration Upside Proven & Aligned ▪ Accelerated Provincial permitting ▪ Prolific Timmins gold district ▪ Track record of advancing development a
Slide 4: Located in the Timmins Gold District
Located in the Timmins Gold District ▪ Timmins region has produced more than 100 Million ounces of gold historically ▪ Excellent access, infrastructure, labour pool and services PORCUPINE COMPLEX MUNRO-CROESUS O N TA R I O FENN-GIB OPEN PIT 4.3 M oz Indicated Gold Resources 0.1 M oz Inferred Gold Re
Slide 5: Accelerated Path to Unlock Free Cash Flow
Accelerated Path to Unlock Free Cash Flow Strategic Path = Accelerated Big, But Slow Path Provincial Permitting (2-3 years) Federal Permitting (7-9 years) Permitting ‘One Project One Process’ framework to streamline mining No greenfield project approved since Impact Assessment Act project approval P
Slide 6: Strategic Path Shortens Development Timeline
Strategic Path Shortens Development Timeline Exploration Discovery Feasibility Permitting and Financing Construction/Ramp up Production Big, But Slow 8 years 3 years Strategic 2 to 3 years 2 years 6 NYSE AM: MAYFAIR MINE GOLD | TSXV: TAGLINE CANMFG BE PLACED HERE MAYFAIRGOLD.CA
Slide 7: 2026 Pre-Feasibility Study Highlights
2026 Pre-Feasibility Study Highlights PFS has 1Moz Reserve at US$3,100 gold. Leaves optionality on 3.3Moz Indicated Resource not mined in PFS 64,096 kOz 1.29 g/t Gold US$1,292/Oz C$114M C$1.7B LOM Average Annual LOM Average Gold Grade LOM Average ASIC LOM Average Cumulative FCF Gold Production Annua
Slide 8: 2026 PFS Highlights – Spot Gold Scenario
2026 PFS Highlights – Spot* Gold Scenario PFS has 1Moz Reserve at US$4,450 gold. Leaves optionality on 3.3Moz Indicated Resource not mined in PFS 64,096 kOz 1.29 g/t Gold US$1,291/Oz C$192M C$2.9B LOM Average Annual LOM Average Gold Grade LOM Average ASIC LOM Average Cumulative FCF Gold Production A
Slide 9: 2026 PFS Study Summary Tables
2026 PFS Study Summary Tables Fenn-Gib 2026 PFS Summary General Units LOM Operating Metrics LOM Total/Avg. Y1-Y6 Gold Price US$ / 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 1.29
Slide 10: Grade and Production Profile
Grade and Production Profile • The Fenn-Gib PFS 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 71,336 oz/year with 1.47 g/t feed grade Fenn-Gib 2026 Production and Grade Profil
Slide 11: Free Cash Flow Profile
Free Cash Flow Profile Post-Tax Economics at $3,100 Gold C$ 652M 24% NPV (5%) IRR (%) 2.7 Years 1.4x Payback Period NPV/ Initial Capex Post-Tax Economics at $4,450 Gold C$ 1.37B 38% NPV (5%) IRR (%) 1.7 Years 3.1x Payback Period NPV/ Initial Capex ($ M) Year of production 1 2 3 4 5 6 Base Case Annua
Slide 12: 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 13: Integrated Site Layout
Integrated Site Layout LEGEND TSF Tailings Storage Facility MRSA Mine Rock Storage Area Plant Site and Equipment Crushing Facilities 13 NYSE AM: MAYFAIR MINE GOLD | TSXV: TAGLINE CANMFG BE PLACED HERE MAYFAIRGOLD.CA
Slide 14: Proposed Fenn-Gib Process Flow Sheet
Proposed Fenn-Gib Process Flow Sheet ▪ Conventional metallurgical flowsheet ▪ Similar to Alamos Gold's Young Davidson mine ▪ Metallurgical recovery of 90% Au for a head grade of 1.5 g/t Source: Ausenco, 2025. 14 NYSE AM: UNLOCKING MAYFAIR MINE THE GOLD | TSXV: VALUE TAGLINE OF CAN MFG FENN-GIB BE PL
Slide 15: Predictable Schedule Project to Production
Predictable Schedule Project designs and impacts stay within the Ontario environmental to Production approval threshold ▪ Production Profile < 5,000 tonnes per day plant and ore mined ▪ No significant impacts to areas of federal jurisdiction DEFINING THE SMALL-SCALE PROJECT TO DERISK Adheres to a ro
Slide 16: HG Pit Confidence Drilling Program Ongoing
HG Pit Confidence Drilling Program Ongoing PFS Open Pit 56 drill tight-spaced holes completed in Dec 2025 Targeting high grade mineralization Results expected in Q1/2026 Source: Mayfair Gold Corp. 16 NYSE AM: UNLOCKING MAYFAIR MINE THE GOLD | TSXV: VALUE TAGLINE OF CAN MFG FENN-GIB BE PLACED HERE MA
Slide 17: Exploration Potential
Exploration Potential ▪ The Fenn-Gib deposit remains open at depth and along strike in multiple directions ▪ Additional mineralized zones may exist in the North Block outside of the Barrick back-in right ▪ The South Block is largely unexplored and sits along the Porcupine-Destor Fault 17 NYSE AM: MA
Slide 18: 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 robust economics and strategic path related to Mayfair investment opportunity GDXJ Mayfair Comparables 4 3.5 Comps 3 +237% GDXJ 2.
Slide 19: Comps and Rerating Potential
Comps and Rerating Potential Current Trading Value vs. Net Asset Value (C$ mm) NPV* Sensitivity to Gold Price $25.58/share ** Spot Gold $ per share value ** $19.48 $17.16 $18.24/share ** $14.84 $12.52 Base $10.20 $12.69/share ** Case $7.88 $6.02 $6.02/share ** $788 $3.22 $6.04/share Source for insit
Slide 20: The Team – 35% Insider Ownership
The Team – 35% Insider Ownership MANAGEMENT TEAM ▪ Mining executive with 20+ years of experience across ▪ Professional Engineer with 30+ years of global mining capital markets, corporate development, and mine experience across operations, project development, and technical development leadership ▪ R
Slide 21: The Team – 35% Insider Ownership
The Team – 35% 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 22: Capitalization Structure
Capitalization Structure MANAGEMENT & INSIDERS 35% Issued and Outstanding on List 66.8 M 18% INSTITUTIONAL Options & Warrants 2.4 M HNW Fully Diluted Shares 69.2 M RETAIL Share Price (as at Jan 29, 2026) $6.04 Market Capitalization (C$ M) $405 19% C$40 M $7.0 800,000 Cash Position 28% $6.0 600,000 $
Slide 23: Appendix
ow my MAYFAIR GOLD TSX-V : MFG | NYSE AM: MINE | mayfairgold.ca ff
Slide 24: 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 25: Metallurgical Testwork: 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 26: 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 27: Thank You
THANK YOU Nick Campbell CEO Nick@mayfairgold.ca Zayem Lakhani VP Capital Markets Zayem@mayfairgold.ca