Recent Updates — MFGCD
The Government of Ontario has selected Mayfair Gold Corp.'s 100%-owned Fenn-Gib Gold Project as a designated project under the 'One Project, One Process' (1P1P) framework. This designation appoints the Ministry of Energy and Mines as a single point of contact to coordinate provincial approvals and Indigenous consultation, aiming to reduce government review times by 50 percent. Mayfair expects this streamlined process to accelerate progress toward a construction decision, with permits potentially secured as early as 2028 and initial production beginning in 2030. The company is advancing permitting activities and detailed engineering for the project located in the Timmins region of Northern Ontario. Mayfair Gold Corp. is a Canadian development-stage gold company focused on advancing its Fenn-Gib Project.
Mayfair Gold Corp. completed a strategic investment with Macquarie Bank Limited, which acquired 2,346,701 common shares at C$4.26 per share for gross proceeds of approximately C$10 million. The funds will be used to advance the Fenn-Gib gold project in Ontario. The purchased shares are subject to a four-month and one-day hold period expiring on February 15, 2027. Mayfair Gold is a Canadian development-stage gold company focused on advancing its 100%-owned Fenn-Gib Project in the Timmins region of Northern Ontario.
Mayfair Gold Corp. has appointed Daniel Janusauskas, P.Eng., as Vice President of Technical Services, effective November 1, 2026. Mr. Janusauskas brings over 15 years of experience in mining operations and project development, most recently serving as Technical Services Manager at Generation Mining. He will lead the technical services function to advance the company's 100%-owned Fenn-Gib Gold Project toward a construction decision. The PFS targets initial production in 2030 with an estimated C$450 million capital cost. Mayfair Gold is a Canadian development-stage gold company focused on advancing the Fenn-Gib Project in Northern Ontario.
On October 1, 2026, Mayfair Gold Corp. announced a strategic equity investment of C$10 million from Macquarie Bank Limited, priced at C$4.26 per share. Concurrently, the company entered into non-binding engagement letters and term sheets for a proposed C$300 million project finance facility with Macquarie as the mandated lead arranger. The total proposed financing package amounts to up to C$310 million, intended to fund the development of the 100%-owned Fenn-Gib Gold Project in Northern Ontario. The equity investment represents a 10% premium to the five-day volume-weighted average price. The project finance facility includes a C$25 million early drawdown tranche and an offtake right for up to 300,000 ounces of gold. These transactions remain subject to due diligence and customary conditions precedent. Mayfair Gold Corp. operates as a gold exploration and development company in Canada.
Mayfair Gold Corp. announced a C$310 million strategic financing package with Macquarie Bank Limited to support the development of its Fenn-Gib Gold Project in Northern Ontario. The deal includes a C$10 million equity investment priced at C$4.26 per share and a non-binding engagement letter for a C$300 million project finance facility, inclusive of up to C$20 million capitalized interest. The debt carries an interest rate of CORRA plus 4.75%, stepping down to 4.25% post-completion, with quarterly repayments commencing six months after commercial production begins. Macquarie also secured gold offtake rights for the first 300,000 ounces produced at a reference price less US$50 per ounce. This financing targets the C$450 million initial development capital estimated in the company's 2026 Pre-Feasibility Study. Mayfair Gold Corp. is a Canadian development-stage gold mining company focused on advancing its Fenn-Gib project.