Mr. Nicholas Campbell reports

MAYFAIR BOLSTERS EXECUTIVE TEAM WITH ADDITION OF VETERAN CFO

Mayfair Gold Corp. has appointed Kevin Annett as chief financial officer of the company, effective April 7, 2026.

Kevin Annett, CPA, is a seasoned mining finance executive with over 15 years of experience spanning project construction, operations and corporate leadership. He most recently served as chief financial officer, North America, at Barrick Mining Corp., where he led financial strategy, planning and governance for the company's largest region, with a strong focus on disciplined capital allocation and value creation.

Earlier in his career, he held progressively senior roles across Barrick and Detour Gold. Mr. Annett holds a CPA designation and an honours degree in finance and economics from the University of New Brunswick and has completed the advanced management program at the Wharton School.

With the announcement of Mr. Annett joining Mayfair as CFO, Mayfair plans to complete a non-brokered private placement with Mr. Annett for gross proceeds of approximately $250,000. The company expects to use the net proceeds from the private placement toward advancing the Fenn-Gib gold project in Ontario.

Nick Campbell, chief executive officer of Mayfair Gold, stated: "Kevin has exactly the kind of experience that will prove invaluable to Mayfair as we advance Fenn-Gib gold project into construction and production. He joins us from his most recent role as CFO, North America, for Barrick Mining Corp. Kevin held a variety of roles within Barrick, including site CFO for the Hemlo operations. Establishing proper systems and cost controls in advance of the start of construction is imperative to ensure proper cost management during the build phase and during operations. Kevin's experience in operations in Ontario make him uniquely qualified to work with our operating team to put these systems in place. We are very excited to have Kevin join us to unlock the full potential of Fenn-Gib."

Mr. Annett, incoming CFO for Mayfair Gold, stated: "I'm excited to join Mayfair at an important inflection point. Fenn-Gib is a high-quality asset with significant optionality, and the opportunity now is to translate that potential into tangible per-share value through disciplined execution. I look forward to working closely with the board and management team to deliver on Fenn-Gib's value proposition."

The private placement will result in the company issuing to Mr. Annett 58,000 shares of Mayfair at a price of $4.38 per share, representing the closing price for Mayfair on the TSX Venture Exchange on April 6, 2026.

The private placement is subject to certain conditions, including, but not limited to, receipt of all required regulatory approvals, including acceptance of the TSX-V. The shares will be subject to a four-month-and-one-day hold period as prescribed by applicable securities laws.

Grants and security-based compensation

Mayfair also announces that 250,000 options to purchase an equivalent number of common shares of the company were granted to Mr. Annett. The 250,000 options were granted, effective April 7, 2026, at a strike price of $4.38 with a five-year expiry. These options will vest over the following period:

• One-third of the options shall vest and become exercisable if the executive is actively employed with the company on April 7, 2027;
• one-36th of the options shall vest and become exercisable on each calendar month starting on May 7, 2027, for 24 months thereafter for each subsequent month that the executive remains actively employed with the company.

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 project'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 gold price of $3,100 (U.S.) per ounce. The company is advancing permitting activities, detailed engineering and stakeholder engagement with the goal of starting construction in 2028 with initial production in 2030. See the company's news release dated Jan. 8, 2026, titled "Mayfair Delivers Robust Pre-Feasibility Study for the Fenn-Gib Gold Project" for further information.

The scientific and technical content of this news release was reviewed, verified, and approved by Drew Anwyll, PEng, MEng, chief operating officer of the company, and a qualified person as defined by Canadian Securities Administrators' National Instrument 43-101, Standards of Disclosure for Mineral Projects.

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