Mr. Nicholas Campbell reports

MAYFAIR STRENGTHENS MANAGEMENT TEAM

Mayfair Gold Corp. has appointed Zayem Lakhani as vice-president, capital markets, effective Nov. 19, 2025.

Nick Campbell, chief executive officer of Mayfair Gold, stated: "We are excited that Zayem has agreed to join the Mayfair Gold team. The gold industry has started to attract new kinds of investor interest that have largely ignored gold mining investment opportunities over the past 15 years. With gold and gold equities outperforming, generalist investors are now seriously looking at opportunities to build exposure to the current gold cycle. Zayem's background as a generalist fund manager gives him a unique skill set and network to help Mayfair engage with a broader set of investors. With shareholdings of 335,000 shares of Mayfair, Zayem has built a position that gives him skin in the game, which is a core management philosophy for Mayfair. With the addition of Zayem, management and insiders have acquired more than $15-million of Mayfair equity in the past 12 months. We are lucky to have Zayem as part of the management team and look forward to working with him and seeing his efforts to make Mayfair Gold as success."

Mr. Lakhani stated: "The investment landscape is undergoing a paradigm shift, with gold and gold equities increasingly being recognized as essential components of a diversified multiasset portfolio. Developers in Tier 1 jurisdictions with a timely and credible path to production and a management team with a track record of execution offer one of the best risk-adjusted ways to leverage this favourable backdrop. Mayfair Gold exemplifies these characteristics and I am eager to contribute towards building value for all Mayfair stakeholders."

Grants and security-based compensation

Mayfair also announces that 275,000 options to purchase an equivalent number of common shares of the company were granted to Mr. Lakhani and 325,000 options were granted to key consultants working with the company. The 600,000 options were granted, effective Nov. 20, 2025, at a strike price of $2.17 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/consultant is actively employed on Nov. 20, 2026;
• One-36ths of the options shall vest and become exercisable on each calendar month starting on Dec. 20, 2026, for 24 months thereafter for each subsequent month that executive/consultant remains actively employed.

Such grants have been made under the company's omnibus equity incentive plan that was approved by the shareholders of the company on Sept. 4, 2025. The omnibus plan is a rolling 10-per-cent plan and provides for the grant of options, restricted share units, performance share units and deferred share units. The aggregate number of common shares reserved for issuance pursuant to the omnibus plan and all other security-based compensation arrangements of the company, at any time, must not exceed 10 per cent of the company's total issued and outstanding common shares.

About Mayfair Gold Corp.

Mayfair Gold is focused on the advancement of its 100-per-cent-owned Fenn-Gib gold project in Ontario, Canada. Fenn-Gib is located 80 kilometres east of Timmins. Fenn-Gib hosts a 4.3-million-ounce indicated National Instrument 43-101 open-pit constrained mineral resource estimate. Located in the prolific Timmins gold district accessible by way of Highway 101, which runs right through the project, Mayfair is focused on utilizing existing access and infrastructure to advance the Fenn-Gib gold project to production with discipline and efficacy with a commitment to safety, environmental stewardship and stakeholder engagement.