Mayfair Gold Announces Acquisition of the Guibord, Marriott and Holloway Properties from Plato Gold

Mayfair Gold (NYSE American: MINE) agreed to acquire Plato Gold's interests in the Guibord, Marriott and Holloway properties for C$2.5 million cash on April 2, 2026.

Rhea-AI Summary

Mayfair Gold (NYSE American: MINE) agreed to acquire Plato Gold's interests in the Guibord, Marriott and Holloway properties for C$2.5 million cash on April 2, 2026.

The three properties add ~3,159 hectares, expand landholdings by >65%, sit along the Porcupine-Destor Fault Zone, and provide adjacent land and access to support permitting and potential onsite infrastructure for the Fenn-Gib project.

Positive

• Landholdings +65% expansion adjacent to Fenn-Gib
• 3,159 hectares of additional claims and leases acquired
• Properties overlay the Porcupine-Destor Fault Zone with historic high-grade intercepts

Negative

• Cash purchase of C$2.5 million reduces liquidity
• Transaction subject to ministerial consent, creating closing uncertainty
• Escrowed payments released in tranches tied to property transfers

Argus Apr 2 session

+1.28% close to close Open Argus

Details

News Market Reaction – MINE

On Apr 2, the day this news came out, MINE closed 1.28% above the previous close.

Data tracked by StockTitan Argus for the Apr 2 session.

Market Context

This announcement details the C$2.5 million acquisition of the Guibord, Marriott and Holloway proper...

Analysis

This announcement details the C$2.5 million acquisition of the Guibord, Marriott and Holloway properties, expanding Mayfair’s land position near Fenn-Gib by more than 65% along the Porcupine-Destor Fault Zone. Recent history shows a focus on advancing Fenn-Gib through permitting, drilling and advisory appointments. Key factors to watch include future drill results on these properties, their impact on project economics, and how efficiently Mayfair integrates this additional exploration leverage into its overall mine development plan.

Key Figures

Acquisition price: C$2.5 million cash Land holding increase: more than 65% Historic production: more than 180 million ounces of gold +5 more

Acquisition price

C$2.5 million cash

Purchase of Guibord, Marriott and Holloway properties

Land holding increase

more than 65%

Expansion of land holdings near Fenn-Gib Gold Project

Historic production

more than 180 million ounces of gold

Gold produced historically from Abitibi Greenstone belt

High-grade interval 1

13.7 g/t gold over 1.22 metres

Historic drilling on Guibord property in the 1960s

High-grade interval 2

47.01 g/t gold over 0.91 metres

Historic drilling on Guibord property in the 1960s

Broad mineralized zone 1

0.59 g/t gold over 30.5 metres

Historic drilling on Guibord property in the 1960s

Marriott drill program

11 holes, 2,858 metres

Diamond drilling completed by Plato in 2005

Potential depth extensions

1,000–1,200 metres

Potential Holloway mine mineralization extensions within Holloway property

Historical Context

4 past events · Latest: Feb 11

4 events

1. Feb 11

   Drill results update

   24h Move

   +4.6%

   Initial 2025 grade control drilling results showing modest grade uplift at Fenn-Gib.

2. Feb 05

   Permitting milestone

   24h Move

   -7.9%

   Submission of Notice of Project Status to advance Fenn-Gib toward production.

3. Feb 03

   Management change

   24h Move

   +2.5%

   Appointment of strategic advisor with 40 years’ experience for project delivery support.

4. Jan 27

   Listing change

   24h Move

   +0.0%

   Commencement of trading on NYSE American under ticker MINE while retaining TSXV listing.

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

Key Terms

porcupine-destor fault zone, abitibi greenstone belt, diamond drill program, mining claims, +4 more

8 terms

porcupine-destor fault zone technical

"properties that overlay the regionally important Porcupine-Destor Fault Zone ("PDFZ")"

A porcupine-destor fault zone is a band of fractures in the Earth’s crust where rock on either side moves relative to the other, similar to a cracked sidewalk that shifts after freezing and thawing. For investors, such fault zones matter because they concentrate seismic risk and can affect the location and cost of mines, oil wells, infrastructure and insurance, while also indicating where underground fluids or minerals may be more likely to be found.

abitibi greenstone belt technical

"a significant regional structure within the Abitibi Greenstone belt that has produced"

The Abitibi Greenstone Belt is a long, ancient rock region in northeastern Ontario and western Quebec known for concentrated deposits of gold, copper, zinc and other metals. For investors it matters because many mines and exploration projects sit there, so discoveries, production changes or permitting decisions in the belt can directly affect the value of mining companies and the supply and price of those metals—think of it as a neighborhood where several major factories that make a commodity are located.

diamond drill program technical

"An 11-hole 2,858-metre diamond drill program was completed by Plato in 2005."

A diamond drill program is a mining exploration campaign that uses a rotating drill fitted with a diamond-studded bit to cut and retrieve solid rock cores from underground. Think of it like taking a reliable subsurface “biopsy” that lets geologists see the actual rock and mineral content directly; for investors, the cores provide the most trustworthy evidence of whether valuable minerals exist, in what quantity and quality, and therefore shape project value and financing decisions.

mining claims technical

"16 contiguous mining claims, two mining leases, covering 275 hectares"

A mining claim is a legal right to explore for and remove minerals from a specific piece of land, similar to holding a deed or an exclusive ticket to dig in that spot. For investors it matters because claims are tangible assets that can contain valuable resources or be worthless, and their value depends on proven deposits, regulatory permits, ongoing costs, and how secure the ownership is — like owning a lottery ticket whose payoff depends on what’s under the ground and the rules for digging.

mining lease regulatory

"10 contiguous mining claims covered by a mining lease, covering 156 hectares"

A mining lease is a legal agreement that gives a company the right to dig up and sell mineral resources from a specific piece of land for a set period, often under conditions and payments to the landowner or government. Investors care because the lease determines whether a company can access the resource, how long it can operate, what costs and rules apply, and therefore directly affects production prospects, revenue potential and the asset’s value — think of it like renting a plot to dig and sell what you find, with clear rules attached.

escrow financial

"On closing, the cash consideration will be paid into escrow and held by an escrow agent."

A neutral third party holds money, documents, or assets until both sides in a transaction meet agreed conditions, like a safety deposit box that only opens when everyone fulfills the rules. For investors, escrow reduces risk and increases certainty by ensuring payments or shares are released only when contractual steps are completed, which affects deal timing, legal protection, and the likelihood that a transaction will close as planned.

tholeiitic basalts technical

"underlain by Kinojevis Assemblage iron and magnesium rich tholeiitic basalts"

A tholeiitic basalt is a common type of volcanic rock formed from fast-flowing lava that cools into dense, low-alkali, iron-rich material; think of it as a specific “recipe” of cooled lava with a predictable makeup. For investors, it matters because this rock type often hosts particular mineral deposits and influences how easy those minerals are to find and extract, much like certain soils are better for growing specific crops.

metasediments technical

"northern margin of the property underlain by Timiskaming-style metasediments bounded by the PDFZ."

Metasediments are sedimentary rocks — such as sandstones, shales or mudstones — that have been changed by heat and pressure underground, becoming harder and more compact. For investors, they matter because these rocks can host or control concentrations of valuable minerals and affect how easy and expensive it is to explore and mine them; think of ordinary clay baked into a firmer, denser material that may hide or preserve useful contents.

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VANCOUVER, BC, April 2, 2026 /PRNewswire/ - Mayfair Gold Corp. ("Mayfair", "Mayfair Gold", or the "Company") (TSXV: MFG) (NSYE American: MINE) is pleased to announce that it has entered into a definitive agreement (the "Acquisition Agreement") with Plato Gold Corp. ("Plato") to acquire Plato's interests in the Guibord, Marriott and Holloway properties (the "Properties") for C$2.5 million in cash. The properties are in close proximity to Mayfair's Fenn-Gib Gold project ("Fenn-Gib" or the "Project") east of Timmins, Ontario. The transaction provides Mayfair with three exploration properties that overlay the regionally important Porcupine-Destor Fault Zone ("PDFZ") and provides critical land adjacent to the Project to the southwest to support potential onsite infrastructure.

Mayfair has a clearly defined path to permit and advance a new mine into production at Fenn-Gib. Mayfair also sees substantial potential to enhance the project economics and production profile of Fenn-Gib through near site exploration. Exploration leverage gives Mayfair an additional lever to create value as the company derisks and advances Fenn-Gib.

Nick Campbell, CEO of Mayfair Gold commented, "We are excited to enter into this agreement with Plato to expand our land holdings near the Fenn-Gib Gold Project by more than 65%. All three properties are closely associated with the Porcupine-Destor Fault Zone, a significant regional structure within the Abitibi Greenstone belt that has produced more than 180 million ounces of gold historically. This transaction, as well as targets within our current land holdings provide Mayfair with new exploration leverage adjacent to and within hauling distance of the proposed Fenn-Gib mine. Furthermore, the Guibord property facilitates critical access for potential onsite infrastructure supporting our permitting process "

Strategic highlights

• The Guibord property (50%)
  • Hosts Plato's Silver Fox Project
  • <5km southeast of McEwen Mining's Grey Fox project and Black Fox mine
  • Contiguous to Fenn-Gib concessions, 5km southwest of the deposit
  • 16 contiguous mining claims, two mining leases, covering 275 hectares
  • Highway 572 access to site (western boundary)
  • Provides key land access to support Fenn-Gib permitting

The Guibord property is along strike from McEwen Mining's Grey Fox project and Black Fox Mine along the PDFZ. The historic drilling in 1964 was focused on the contact between the Porcupine-Destor metasediments and the ultramafics of the Stoughton-Roquemaure Assemblage, targeting a series of potentially gold bearing alteration zones. Historic drilling in the 1960's tested several areas which returned narrow intervals of high-grade gold mineralization (13.7 g/t gold over 1.22 metres and 47.01 g/t gold over 0.91 metres) and several broad zones of lower-grade gold mineralization (0.59 g/t gold over 30.5 metres and 0.66 g/t gold over 23 metres.

• The Marriott Property (100%)
  • Located 15km east of the shuttered Holt and Holloway Gold Mines
  • Located ~55km east of the Fenn-Gib Gold Project
  • 142 contiguous mining claims, covering 2,728 hectares
  • Highway 101 access to site
  • Early-stage exploration project within trucking distance of Fenn Gib

The Marriott property is underlain by a series of basalt flows, breccias and hyaloclastites belonging to the Kinojevis Assemblage with occasional interflow graphitic sediments occurring between the basalt flows. Gold mineralization at the Holloway mine was closely associated with a geological contact and the PDFZ located between the Kinojevis Assemblage and the Stoughton-Roquemaure Assemblage and associated structures. An 11-hole 2,858-metre diamond drill program was completed by Plato in 2005. Three of the holes intercepted gold mineralization of more than 1.0 g/t gold.

• The Holloway Property (100%)
  • Located 3km east-northeast and east of the Holt and Holloway Mines, respectively
  • Located ~43km east of the Fenn-Gib Gold Project
  • 10 contiguous mining claims covered by a mining lease, covering 156 hectares
  • Highway 101 access to site
  • Early-stage exploration project within trucking distance of Fenn Gib

The Holloway property is primarily underlain by Kinojevis Assemblage iron and magnesium rich tholeiitic basalts with the northern margin of the property underlain by Timiskaming-style metasediments bounded by the PDFZ. Historical drilling in 1987 intersected narrow zones of high-grade mineralization reported at 52-64 g/t gold over 0.3 - 0.8 metre intervals. The potential for extensions of the Holloway mine mineralization may exist at a depth of 1,000 – 1,200 metres within the property.

Terms of the Purchase Agreement for the Marriott, Holloway and Guibord properties

Mayfair has entered into an asset purchase agreement with Plato for its 100% interest in the Marriott properties, its 100% interest in the Holloway properties and its 50% interest in the Guibord properties for total consideration of C$2.5 million in cash.

The transactions contemplated by the Acquisition Agreement are subject to customary conditions precedent, including ministerial consent with respect to the transfer of certain mining leases.

On closing, the cash consideration will be paid into escrow and held by an escrow agent. 50% of the funds will be released from escrow to Plato upon the transfer of the Marriott Property, 25% will be released from escrow on the transfer of the Holloway Property and the final 25% will be released from escrow on the transfer of the Guibord Property.

About Mayfair Gold

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 Project's 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. See the Company's news release dated January 8, 2026, titled "Mayfair Delivers Robust Pre-Feasibility Study for the Fenn-Gib Gold Project" for further information.

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.

This news release references mining projects which are nearby Fenn-Gib and the Properties to be acquired by the Company. Readers are cautioned that mineralization on nearby properties is not necessarily indicative of mineralization on the Fenn-Gib or the Properties.

Cautionary Note Regarding Forward-Looking Information

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking Information"). The use of the words "will" and "expected" and similar expressions are intended to identify forward-looking information. Although Mayfair Gold believes that the expectations reflected in such forward-looking statements and/or information are reasonable, readers are cautioned that actual results may vary from the forward-looking information. The Company has based these forward-looking statements and information on the Company's current expectations and assumptions about future events including assumptions regarding final listing mechanics. 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 of the Company for the year ended December 31, 2024, available at www.sedarplus.ca. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and Mayfair does not undertake any obligation to publicly update or revise any of these forward-looking statements 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

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

What did Mayfair Gold (MINE) announce on April 2, 2026 regarding Plato Gold properties?

Mayfair announced it will acquire Plato's interests in Guibord, Marriott and Holloway for C$2.5 million cash. According to the company, the deal expands landholdings by more than 65%, adds ~3,159 hectares near Fenn-Gib, and secures land along the Porcupine-Destor Fault Zone for exploration.

How will the C$2.5 million acquisition affect Mayfair Gold's Fenn-Gib project (MINE)?

The acquisition supplies adjacent land and access that could support permitting and onsite infrastructure for Fenn-Gib. According to the company, the properties provide critical southwest land access and haulage-distance exploration leverage to potentially enhance project economics and production profile.

What historical drilling highlights do the acquired Guibord, Marriott and Holloway properties include for MINE investors?

Historic holes include narrow, high-grade intercepts such as 47.01 g/t over 0.91 metres and broader lower-grade zones. According to the company, historical results also show intervals like 13.7 g/t over 1.22 metres and broader 0.59–0.66 g/t zones over tens of metres.

Are there closing conditions or risks for Mayfair Gold's (MINE) purchase of the Plato properties?

Yes. The transactions are subject to customary conditions, including ministerial consent for certain mining lease transfers. According to the company, cash will be escrowed and released in tranches upon each property transfer, introducing closing and timing risks.

What is the size and access of the Marriott and Holloway properties acquired by Mayfair (MINE)?

The Marriott comprises 2,728 hectares with Highway 101 access; Holloway comprises 156 hectares with Highway 101 access. According to the company, both are early-stage exploration projects within trucking distance of the Fenn-Gib Gold Project for potential near-site work.