Mayfair Completes Strategic Investment with Macquarie

Mayfair expects to direct the investment proceeds toward advancing its Fenn-Gib gold project in Ontario.

Rhea-AI Summary

Mayfair Gold (MINE) completed its previously announced investment with Macquarie Bank, raising gross proceeds of approximately C$10,000,000 through a common-share issuance.

Macquarie acquired 2,346,701 common shares at C$4.26 per share. Mayfair expects to use the proceeds to advance its Fenn-Gib gold project in Ontario. The issued shares are subject to a securities-law hold period of 4 months and one day, expiring on February 15, 2027.

2 points · 0 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 1 point

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointCompleted Macquarie investment raised approximately C$10,000,000 in gross proceeds for Mayfair.
• Minor point. Forward-looking: it has not happened yet and may not happen.Mayfair expects to use the proceeds to advance the Fenn-Gib gold project in Ontario.

Negative

• Moderate pointIssuance of 2,346,701 common shares at C$4.26 per share dilutes existing holders.

Key Figures

Common shares acquired: 2,346,701 shares Price per share: C$4.26 Gross proceeds: approximately C$10,000,000 +1 more

Common shares acquired

2,346,701 shares

Macquarie strategic investment

Price per share

C$4.26

Macquarie strategic investment

Gross proceeds

approximately C$10,000,000

Proceeds expected to advance the Fenn-Gib gold project

Hold period

4 months and one day

Shares subject to a securities-law hold period

Historical Context

1 past event · Latest: Oct 01

1 event

1. Oct 01

   proposed financing package

   24h Move

   +0.0%

   Macquarie proposed a C$10 million equity subscription at C$4.26 alongside a non-binding project facility.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

hold period

1 terms

hold period regulatory

"subject to a 4-month and one day "hold period" as prescribed by applicable securities laws"

A hold period is a specific span of time during which an investor is required or expected to keep a security or asset and cannot freely sell it or realize its value. It matters because it limits liquidity and can affect tax treatment, risk exposure and timing of gains or losses—like a cooling-off or fixed-term commitment that prevents you from quickly cashing out even if market conditions change.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Toronto, Ontario--(Newsfile Corp. - October 14, 2026) - Mayfair Gold Corp. (TSXV: MFG) (NYSE American: MINE) ("Mayfair" or the "Company") is pleased to announce that it has completed its previously announced strategic investment with Macquarie Bank Limited ("Macquarie").

Macquarie acquired 2,346,701 common shares of the Company (the "Shares") at a price of C$4.26 per Share for gross proceeds of approximately C$10,000,000. The Company expects to use these proceeds towards advancing the Fenn-Gib gold project in Ontario. The Shares are subject to a 4-month and one day "hold period" as prescribed by applicable securities laws, expiring on February 15, 2027.

About Mayfair Gold

Mayfair Gold is a Canadian development-stage gold company focused on advancing the 100%-owned Fenn-Gib Project in the Timmins region of Northern Ontario. Fenn-Gib hosts a 4.3-million-ounce indicated mineral resource of gold (181.3Mt at an average grade of 0.74 g/t) and the expected strategy outlined in the 2026 Pre-Feasibility Study (the "PFS")¹ is to develop the Project under the provincial permitting process, targeting the higher-grade 1-million-ounce probable mineral reserve (25.1Mt at an average grade of 1.29g/t) sitting near-surface, highlighting the optionality and scalability provided by the deposit. The PFS also outlines the potential to develop Fenn-Gib into a new Canadian gold producer, with initial development capital of C$450 million, a base-case payback period of 2.7 years, and cumulative free cash flow² of US$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 Company also remains focused on exploration around the broader land package with the goal of enhancing mineral resource scale and growth opportunities.

Cautionary Note Regarding Forward-Looking Information

This news release contains certain forward-looking information within the meaning of applicable Canadian securities legislation and forward-looking statements within the meaning of applicable United States securities legislation (collectively, "forward-looking information"). The use of the words "will" and "expected" and similar expressions is intended to identify forward-looking information. Forward-looking information in this news release includes, but is not limited to, all disclosure related to the PFS, including expected commencement of construction and production. Although Mayfair Gold believes that the expectations reflected in such forward-looking information is reasonable, readers are cautioned that actual results may vary from the forward-looking information. The Company has based the 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 annual information form and Form 40-F of the Company for the year ended December 31, 2025, available under the Company's profiles on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov, 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.

For further information, please visit www.mayfairgold.ca or direct enquiries to:

Drew Anwyll, P.Eng.
CEO, Mayfair Gold Corp.
2770 Plymouth Dr – Suite 101
Oakville, ON L6H 6Y4 Canada
+1 (855) 350-5600
info@mayfairgold.ca

---

¹ Please refer to the technical report entitled "Fenn-Gib Gold Project NI 43-101 Technical Report and pre-Feasibility Study" dated effective December 19, 2025 available on SEDAR+ at www.sedarplus.ca for further details.
² Free cash flow does not have a standardized meaning and may not be comparable to similar measures presented by other issuers, referred to as non-GAAP financial measures. As the Corporation is not in production, the Corporation does not have historical non-GAAP financial measures nor historical comparable measures under IFRS, and therefore the foregoing prospective non-GAAP financial measures may not be reconciled to the nearest comparable measures under IFRS.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/318864

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much did Macquarie invest in Mayfair Gold, and at what share price?

Macquarie acquired 2,346,701 common shares at C$4.26 per share, providing Mayfair with gross proceeds of approximately C$10,000,000. The investment has been completed.

When does the hold period on Macquarie's Mayfair Gold shares expire?

The hold period expires on February 15, 2027. The acquired shares are subject to a securities-law hold period of 4 months and one day.