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Mayfair Gold Corp. ("Mayfair", "Mayfair Gold", or the "Company") (TSX-V: MFG; OTCQX: MFGCD) today announced the granting of incentive stock options to certain directors, officers, employees, and advisors of the Company pursuant to the Company's omnibus incentive plan.
Options have been granted to purchase an aggregate of 645,000 common shares in the capital of the Company at an exercise price of $5.94 per share. The options are exercisable for a five-year term expiring on January 26, 2031.
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.
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 Company's pre-feasibility study outlines the potential to develop Fenn-Gib into a new Canadian gold producer for initial development capital of $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.
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 "potential" and "goal" and similar expressions are intended to identify forward-looking information. This information includes statements regarding 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 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.
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