Mayfair Gold Commences Fenn-Gib Metallurgical Test Program

Metallurgical campaign designed to support a cost-effective processing flowsheet

VANCOUVER, British Columbia, July 06, 2021 (GLOBE NEWSWIRE) — Mayfair Gold Corp. (“Mayfair” or the “Company”) (TSX-V: MFG) is pleased to announce the commencement of an advanced metallurgical test program on the Company’s Fenn-Gib gold project in the Timmins region of Northern Ontario. The Company has retained Ausenco Engineering Canada Inc. (Ausenco) to manage the metallurgical program in preparation for a Preliminary Economic Assessment (PEA).

The Fenn-Gib project has previously had two metallurgical testwork campaigns, both conducted by SGS Lakefield. The first program, conducted in 2014, focused on determining the most viable processes for extracting gold from the ore, including bond ball mill work index, gravity gold recovery, flotation and cyanide leaching. The 2017 testwork included recovery variability for selected ore zones based on the selected process, grinding with gravity gold recovery followed by cyanide leaching.

Mayfair Gold CEO Patrick Evans commented: “The metallurgical programs completed by SGS provide a solid basis to now explore several viable processing flowsheet options. Once these design parameters are optimized, Mayfair expects the project to support a cost-effective processing flowsheet, and therefore a mill facility, such as conventional SAG-Ball milling with gravity gold scalping and feeding a cyanide leaching-carbon adsorption, as utilized by a number of facilities in Canada.”

In support of the metallurgical program, Mayfair will be drilling a number of HQ and NQ holes to conduct mineralogical and further composite testing. More detailed comminution parameters such as drop weight index and bond ball work index will also be included in the testwork. Gravity recovery will be better quantified by conducting E-GRG tests which simulate gold liberation in a grinding circuit at different sizes.

Past testwork indicates that a gold recovery of up to 95% may be possible with a more complex flowsheet which would include grinding, gravity, flotation and cyanidation. Within the past testwork, similar recoveries of approximately 90% were also achieved in tests above 1 g/t Au with a lower projected capital cost and simplistic flowsheet which included finer grinding (approx. 40 to 60 micron), gravity gold scalping and gravity tails cyanidation at approx. 48 hours. This will be the focus of the upcoming program.

Combined with an expected resource update in the fourth quarter of 2021, the results of the metallurgical campaign will form the basis for a PEA in the first quarter of 2022.

About Mayfair

Mayfair is a Canadian gold exploration company focused on advancing the 100% owned Fenn-Gib gold project in the Timmins region of Northern Ontario. The Fenn-Gib gold deposit is Mayfair’s flagship asset. An updated open-pit constrained NI 43-101 resource estimate (February 5, 2021) reported a total Indicated Resource of 70.2M tonnes containing 2.08M ounces at a grade of 0.921 g/t Au and an Inferred Resource of 3.8M tonnes containing 75,000 ounces at a grade of 0.618 g/t Au. The deposit has a strike length of approx. 1.25km with widths ranging up to 300m. The gold mineralized zones remain open at depth and along strike to the east and west.

About Ausenco

Ausenco is a global company based across 26 offices in 14 countries, with projects in over 80 locations worldwide. Combining deep technical expertise with a 30-year track record, Ausenco delivers innovative, value-add consulting studies, project delivery, asset operations and maintenance solutions to the mining & metals sector.

For further information contact:

Patrick Evans, President and CEO
Email: patrick@mayfairgold.ca
Phone: (416) 670-5114
Web: www.mayfairgold.ca

Qualified Person Statement

Mayfair Gold’s disclosure of technical and scientific information in this news release has been reviewed and approved by Howard Bird, P Geo., Vice President Exploration for the Company, who serves as a Qualified Person under the definition of National Instrument 43-101.

Forward Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements“) that relate to Mayfair’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.

Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Mayfair’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the impact and progression of the COVID-19 pandemic and other factors. Mayfair undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Mayfair to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.