Mr. Nicholas Campbell reports

PIERRE BEAUDOIN APPOINTED AS STRATEGIC ADVISOR TO MAYFAIR GOLD

Mayfair Gold Corp. has appointed Pierre Beaudoin as strategic adviser to the company.

Mr. Beaudoin is a mineral processing professional with 40 years of international operating and project development experience. Recently, Mr. Beaudoin was chief operating officer of SilverCrest Metals Inc., where he successfully led the technical studies, construction and ramp-up of the Las Chispas mine in Mexico, delivering the project ahead of schedule, below budget during the pandemic, and with an efficient and rapid ramp-up to commercial production. Prior to SilverCrest, Mr. Beaudoin worked as senior vice-president, capital projects, followed by chief operating officer, with Detour Gold Corp., during which time he was involved in the construction and operation of the Detour Lake mine, now the largest gold mine in Canada. He also held capital projects and management roles with Barrick Gold Corp. He currently serves as chairman of Radisson Mining Resources Inc. and is a director of Coeur Mining Inc.

Mr. Beaudoin has been appointed as strategic adviser to Mayfair, to provide independent senior-level technical and strategic guidance as the company advances the Fenn-Gib gold project. Specifically, it is anticipated that Mr. Beaudoin was chief operating officer of SilverCrest Metals Inc.'s extensive experience will benefit Mayfair in terms of its plant design, construction readiness and risk management as the company advances permitting and prepares for the start of construction activities.

Nicholas Campbell, Mayfair chief executive officer, commented: "I had the pleasure of working with Mr. Beaudoin when I worked at SilverCrest Metals Inc. and Drew Anwyll, COO of Mayfair, worked with Pierre at Detour Gold Corp. through construction, commissioning and operations. Several other members of the Mayfair team have also worked alongside Pierre over the years, which makes his association with our collective efforts especially meaningful and a natural fit for our team. It is an understatement to say that we are pleased to have Pierre as an adviser as we finalize the process plant, the overall project designs, and prepare for the start of construction at Fenn-Gib. We welcome his input as we continue to advance the project and are pleased to have him join Mayfair Gold as a strategic adviser."

As compensation for his role as strategic adviser, Mayfair Gold has issued Mr. Beaudoin 100,000 options with a strike price of $5.36 per share for a period of five years, expiring on Feb. 3, 2031. He will also be entitled to participate in the company's omnibus equity incentive program in the future.

The content of this news release has been reviewed on behalf of the company and approved by Drew Anwyll, PEng, chief operating officer of Mayfair, a qualified person as defined in National Instrument 43-101.

About Mayfair Gold Corp.

Mayfair Gold is a Canadian gold development stage company focused on advancing the 100-per-cent-controlled Fenn-Gib project in the Timmins region of Northern Ontario. The company's prefeasibility 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 $3,100 (U.S.)/ounce 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.

We seek Safe Harbor.