Mayfair Submits Fenn-Gib Gold Project Notice of Project Status

Rhea-AI Summary

Mayfair Gold (MFG) submitted a Notice of Project Status for its 100%‑owned Fenn‑Gib Gold Project on Feb 5, 2026, formally registering the Project with Ontario and notifying the Ministry of Energy and Mines of intent to advance toward a mine in production.

The filing initiates continued technical studies, permitting, and consultations, including engagement with the Apitipi Anicinapek Nation and regional stakeholders to support environmental, technical and socioeconomic work underpinning future development.

Positive

• Submitted NPS on Feb 5, 2026, formally registering Fenn‑Gib with Ontario authorities
• Company stated intent to advance Fenn‑Gib toward a "mine in production", enabling permitting and technical study progression

Negative

• NPS is a notice of intent and does not represent regulatory approval or construction authorization

Key Figures

Project ownership: 100%-owned

1 metrics

Project ownership 100%-owned Fenn-Gib Gold Project interest

Market Reality Check

Price: $9.00 Vol: Volume 5,887,018 is 1.38x...

normal vol

$9.00 Last Close

Volume Volume 5,887,018 is 1.38x the 4,266,867 share 20-day average. normal

Technical Price 9.29 trades above 200-day MA 6.44 and sits 1.06% below the 52-week high 9.39.

Peers on Argus

MFG shows a 4.5% pre-news gain with elevated volume, while key banking peers are...

MFG shows a 4.5% pre-news gain with elevated volume, while key banking peers are mixed: ITUB -1.85%, DB -0.5%, PNC +0.96%, USB +0.41%, IBN +0.06%. Moves do not indicate a unified sector trend.

Historical Context

5 past events · Latest: Feb 03 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 03	Advisor appointment	Positive	+0.6%	Strategic advisor added to support Fenn-Gib project advancement and construction readiness.
Jan 08	Education initiative	Positive	+0.9%	Tech career Path2TECH pilot with strong completion and placement outcomes in New York.
Jan 05	Community grants	Positive	+2.8%	Announcement of $1 million in grants to community and tech-to-employment programs.
Nov 12	Awards recognition	Positive	+1.0%	Multiple women at Mizuho Americas honored at Markets Choice Women in Finance Awards.
Oct 21	Leadership changes	Neutral	+0.0%	Global fixed income leadership appointments integrating Americas and EMEA platforms.

Pattern Detected

Recent news items have generally been positive or strategic, with modestly positive price reactions.

Recent Company History

Over the past several months, MFG’s news flow featured strategic and reputational milestones. On Feb 3, 2026, a strategic advisor was appointed to support advancement of the Fenn-Gib gold project, with a 0.57% price move. Earlier, philanthropic and community technology initiatives in early 2026, industry awards in Nov 2025, and fixed income leadership changes in Oct 2025 all coincided with small positive or flat reactions. Against this backdrop, the new project-status milestone continues a pattern of incremental, execution-focused updates.

Market Pulse Summary

This announcement highlights formal registration of the 100%-owned Fenn-Gib Gold Project via a Notic...

Analysis

This announcement highlights formal registration of the 100%-owned Fenn-Gib Gold Project via a Notice of Project Status, signaling intent to advance toward a “mine in production” under the Ontario Mining Act. It fits a broader pattern of incremental, execution-focused updates. Key factors to watch include progress on technical studies, environmental and socioeconomic work, regulatory approvals, and ongoing engagement with Indigenous and local communities, which together will shape the Project’s risk profile over time.

AI-generated analysis. Not financial advice.

VANCOUVER, BC, Feb. 5, 2026 /PRNewswire/ - 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.

FAQ

What does Mayfair Gold's NPS filing for Fenn‑Gib (MFG) mean for the project timeline?

It signals intent to progress toward production but does not set a construction date. According to the company, the NPS registers Fenn‑Gib with Ontario and starts permitting, technical studies and consultations that will inform future development timing.

Did Mayfair Gold (MFG) receive approval to build the Fenn‑Gib mine after the Feb 5, 2026 NPS?

No, the NPS is a formal notice, not an approval. According to the company, it notifies the Ministry and enables further permitting, studies and consultations required before any construction approvals can be granted.

How does the NPS affect Indigenous consultation for the Fenn‑Gib project (MFG)?

The NPS formalizes project status and reinforces consultation obligations. According to the company, Mayfair will continue meaningful engagement with the Apitipi Anicinapek Nation and other Indigenous and local stakeholders as studies and permits advance.

Which government body was notified by Mayfair Gold's (MFG) Notice of Project Status for Fenn‑Gib?

The Ministry of Energy and Mines in Ontario was notified by the NPS filing. According to the company, the submission registers the Project with the Province and signals intent to advance to a mine in production.

What immediate steps will Mayfair Gold (MFG) take after submitting the NPS for Fenn‑Gib?

The company will continue technical studies, permitting and stakeholder consultations. According to the company, these activities include environmental, technical and socioeconomic work to derisk and support future construction and operating approvals.