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Classified in: Mining industry, Covid-19 virus
Subject: Environmental, Social, and Governance Criteria

Mayfair Gold Achieves "A" Scoring from Digbee ESG

MATHESON, Ontario, Feb. 01, 2024 (GLOBE NEWSWIRE) -- Mayfair Gold Corp. ("Mayfair" or the "Company") (TSX-V: MFG; OTCQB: MFGCF) is pleased to announce the publication of the Company's third annual Environmental, Social and Governance ("ESG") report from Digbee ESGtm ("Digbee"), a leading independent ESG assessment platform for the mining industry.

In Digbee's latest assessment, Mayfair achieved an overall ESG score of "A" from Digbee's independent panel of qualified mining ESG experts who reviewed the Company's performance against rigorous and standardized scoring criteria.

Patrick Evans, Mayfair's president and CEO, noted: "Excellence in ESG has been integral to Mayfair's strategy from day one, following our acquisition of the Fenn-Gib Gold Project three years ago. In that time, we have sought continuous improvement in our ESG performance and are pleased to have now achieved an "A" scoring against our "BB" score last year. We extend our appreciation to our employees, consultants, and Board of Directors for their strong support as we strive for excellence in areas such as health and safety, environmental stewardship, community engagement, and corporate governance."

Jamie Strauss, founder and CEO of Digbee, commented: "Mayfair's commitment to transparency in ESG performance and disclosure is a credit to the Company. The Company has shown steady improvement over the past three years and is now well supported to lead the narrative with its consultants to develop a sustainable mine for the modern supply chain. Digbee has identified areas for further improvement which the Company has indicated it is keen to focus on."

Details of Mayfair's 2023 ESG Report can be found on Mayfair's website and on Digbee's website.

About Mayfair

Mayfair Gold is a Canadian mineral exploration company focused on advancing the 100% controlled Fenn-Gib gold project in the Timmins region of Northern Ontario. The Fenn-Gib gold deposit is Mayfair's flagship asset and currently hosts an updated NI 43-101 resource estimate with an effective date of April 6, 2023 with a total Indicated Resource of 113.69M tonnes containing 3.38M ounces at a grade of 0.93 g/t Au and an Inferred Resource of 5.72M tonnes containing 0.16M ounces at a grade of 0.85 g/t Au at a 0.40 g/t Au cut-off grade (Source: Tim Maunula, P. Geo., of T. Maunula & Associates Consulting Inc., who is deemed a qualified person as defined by NI 43-101). The Fenn-Gib deposit has a strike length of over 1.5km with widths ranging over 500m. The gold mineralized zones remain open at depth and along strike to the east and west. Recently completed metallurgical tests confirm that the Fenn-Gib deposit can deliver robust gold recoveries of up to 94%.

For further information contact:

Patrick Evans, President and CEO
Phone: (480) 747-3032
Email: [email protected]
Web: www.mayfairgold.ca

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.

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