Mayfair Gold Drills 6.53 g/t Gold over 17.5m within 49.0m at 2.88 g/t Gold at Fenn-Gib Footwall Zone

• Footwall mineralization outside current pit-constrained indicated 2.08M ounce resource
• Steep dipping mineralization from surface to below 500m
• Footwall Zone defined on strike over 200m
• Mineralization open in all directions

VANCOUVER, British Columbia, June 13, 2022 (GLOBE NEWSWIRE) -- Mayfair Gold Corp. (“Mayfair” or the “Company”) (TSX-V: MFG; OTCQB: MFGCF) is pleased to announce further results from the higher-grade Footwall Zone located between 100 and 200 meters (m) to the north of the Fenn-Gib gold deposit. Mayfair’s 100% controlled Fenn-Gib Project, located in the Timmins region of Northeast Ontario, hosts the NI 43-101 Indicated Resource of 2.08M ounce Fenn-Gib deposit (see the “About Mayfair” section below) with disseminated gold mineralization striking east-west on the Pipestone Fault over 1.25 kilometers (km) and up to 300m wide towards the west end.

Mayfair Gold President and CEO Patrick Evans noted: “Drilling continues to confirm the higher-grade gold mineralization in the Footwall Zone immediately to the north of the Fenn-Gib deposit. The Footwall Zone mineralization, outcropping at surface and intersected vertically down to approximately 500m below surface, remains open in all directions. The southwest to northeast trending structure has been traced over approx. 200m to date. Drilling is continuing to fully determine the orientation, extent and tonnage potential of the Footwall Zone.”

Mr. Evans added: “The Footwall Zone mineralization is not included in the 2021 NI 43-101 Fenn-Fib resource estimate. Infill and expansion drilling at the main Fenn-Gib deposit is nearing completion and we remain on track to report a resource update in Q3.”

Highlight reported drill results include:

1. FG21-188 intersected 25.93 grams/tonne (g/t) gold (Au) over 1.5m, 1.37 g/t Au over 25.5m including 5.4 g/t Au over 5.0m;
2. FG21-203 intersected 2.70 g/t Au over 15.0m, including 4.04 g/t Au over 9.0m, including 7.18 g/t Au over 4.0m;
3. FG21-215 intersected 2.88 g/t Au over 49.0m, including 6.53 g/t Au over 17.5m;
4. FG22-218 intersected 0.71 g/t Au over 92.0m, including 2.15 g/t Au over 10.0m. A lower zone returned 2.40 g/t Au over 47.0m, including 3.83 g/t Au over 4.7m and 5.26 g/t Au over 6.6m and 6.78 g/t Au over 7.0m.

Previous limited drilling by Lake Shore Gold identified gold mineralization within the footwall mafic volcanics immediately to the north of the Fenn-Gib deposit in drill holes FG11-04 (3.54 g/t Au over 10.0m), FG11-05 (3.62 g/t Au over 59.0m), FG11-07 (4.03 g/t Au over 3.0m) and FG11-08 (2.24 g/t Au over 39.4m). No further drilling took place prior to Mayfair’s acquisition of Fenn-Gib at the end of 2020.

Ongoing drilling continues to intersect significant gold mineralization, building on Mayfair’s previously reported Footwall Zone drill results. Hole FG21-139 intersected 1.94 g/t Au over 38.0m, including 4.06 g/t Au over 15.0m (news release June 01, 2021). Hole FG21-166 intersected 1.42 g/t Au over 66.0m, including 3.4 g/t Au over 19.2m, including 6.20 g/t Au over 9.2m. A lower zone in hole FG21-166 returned 1.02 g/t Au over 34.0m, including 11.49 g/t Au over 1.0m. Hole FG21-170 intersected 37.51 g/t Au over 2.6m and 59.05 g/t over 1.0m. Hole FG21-186 intersected 2.31 g/t Au over 30.0m, including 6.58 g/t Au over 7.0m, and hole FG21-195 intersected 1.28 g/t Au over 28.0m, including 1.74 g/t Au over 16.0m (news release October 25, 2021).

The latest reported drill results are summarized in Table 1 below. Table 2 lists the drill hole details.

Table 1 - Fenn-Gib Footwall Zone reported drill results summary

*Note: Drill intercepts cited above do not necessarily represent true widths, unless otherwise noted. The dip of the Footwall Zone appears to vary between northward, vertically, and southward. There appear to be at least two controls of gold mineralization that include south-dipping, stratigraphically-controlled pillowed volcanics and flow-top breccia, as well as steeply north to northwest dipping en-echelon shear zones. Ongoing drilling at increased density will support both interpretation of the dip orientation and true width estimates, as well as modelling of the Footwall Zone.

Table 2 - Fenn-Gib Footwall Zone reported drill hole collar information.

Plan and section maps of the above reported drill holes including a Footwall Zone core photo are available at mayfairgold.ca/fenn-gib/#drillplanmap&sections

The Footwall Zone target consists of multiple mineralized zones hosted primarily in the footwall mafic volcanic assemblage within the generally east-west trending Pipestone Fault mineralized corridor. Mineralization consists of bleached, buff-altered (silica-albite-carbonate alteration) pillowed mafic volcanic with pyrite ranging from 2% to over 20%.

Additional drill results from the infill, expansion and step-out drill program will be announced as soon as they are received.

QA/QC Controls

Mayfair employs a QA/QC program consistent with NI 43-101 and industry best practices. Surface drilling was conducted by Major/Norex Drilling of Timmins, Ontario and was supervised by the Mayfair exploration team. Mayfair’s drill program includes descriptive logging and sampling of the drill core for analysis at Mayfair’s secure facility located in Matheson, Ontario. Sampled drill core intervals were sawn in half with a diamond blade saw. Half of the sampled core was left in the core box and the remaining half was bagged and sealed. Mayfair utilizes accredited laboratories, and the samples were transported by Mayfair personnel to the Actlabs laboratory in Timmins, Ontario. Gold was analyzed by 30-gram fire assay with AA-finish. Certified reference material (CRM) standards and coarse blank material are inserted every twenty samples. Drill intercepts cited do not necessarily represent true widths, unless otherwise noted.

About Mayfair

Mayfair is a Canadian mineral 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.

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.

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