Mr. Nicholas Campbell reports

MAYFAIR GOLD ANNOUNCES ACQUISITION OF THE GUIBORD, MARRIOTT AND HOLLOWAY PROPERTIES FROM PLATO GOLD

Mayfair Gold Corp. has entered into a definitive agreement with Plato Gold Corp. to acquire Plato's interests in the Guibord, Marriott and Holloway properties for $2.5-million in cash. The properties are in close proximity to Mayfair's Fenn-Gib gold project east of Timmins, Ont. The transaction provides Mayfair with three exploration properties that overlie the regionally important Porcupine-Destor fault zone (PDFZ) and provides critical land adjacent to the project to the southwest to support potential on-site infrastructure.

Mayfair has a clearly defined path to permit and advance a new mine into production at Fenn-Gib. Mayfair also sees substantial potential to enhance the project economics and production profile of Fenn-Gib through near-site exploration. Exploration leverage gives Mayfair an additional lever to create value as the company derisks and advances Fenn-Gib.

Nick Campbell, chief executive officer of Mayfair Gold, commented: "We are excited to enter into this agreement with Plato to expand our landholdings near the Fenn-Gib gold project by more than 65 per cent. All three properties are closely associated with the Porcupine-Destor fault zone, a significant regional structure within the Abitibi greenstone belt that has produced more than 180 million ounces of gold historically. This transaction as well as targets within our current landholdings provide Mayfair with new exploration leverage adjacent to and within hauling distance of the proposed Fenn-Gib mine. Furthermore, the Guibord property facilitates critical access for potential on-site infrastructure supporting our permitting process."

Strategic highlights

The Guibord property (50 per cent):

• Hosts Plato's Silver Fox project;
• Less than five kilometres southeast of McEwen Mining's Grey Fox project and Black Fox mine;
• Contiguous to Fenn-Gib concessions, five kilometres southwest of the deposit;
• 16 contiguous mining claims, two mining leases, covering 275 hectares;
• Highway 572 access to site (western boundary);
• Provides key land access to support Fenn-Gib permitting.

The Guibord property is along strike from McEwen Mining's Grey Fox project and Black Fox mine along the PDFZ. The historic drilling in 1964 was focused on the contact between the Porcupine-Destor metasediments and the ultramafics of the Stoughton-Roquemaure assemblage, targeting a series of potentially gold-bearing alteration zones. Historic drilling in the 1960s tested several areas which returned narrow intervals of high-grade gold mineralization (13.7 grams per tonne gold over 1.22 metres and 47.01 g/t gold over 0.91 metre) and several broad zones of lower-grade gold mineralization (0.59 g/t gold over 30.5 metres and 0.66 g/t gold over 23 metres).

The Marriott property (100 per cent):

• Located 15 kilometres east of the shuttered Holt and Holloway gold mines;
• Located approximately 55 kilometres east of the Fenn-Gib gold project;
• 142 contiguous mining claims, covering 2,728 hectares;
• Highway 101 access to site;
• Early-stage exploration project within trucking distance of Fenn Gib.

The Marriott property is underlain by a series of basalt flows, breccias and hyaloclastites belonging to the Kinojevis assemblage with occasional interflow graphitic sediments occurring between the basalt flows. Gold mineralization at the Holloway mine was closely associated with a geological contact and the PDFZ located between the Kinojevis assemblage and the Stoughton-Roquemaure assemblage and associated structures. An 11-hole 2,858-metre diamond drill program was completed by Plato in 2005. Three of the holes intercepted gold mineralization of more than 1.0 g/t gold.

The Holloway property (100 per cent):

• Located three kilometres east-northeast and east of the Holt and Holloway mines, respectively;
• Located approximately 43 kilometres east of the Fenn-Gib gold project;
• 10 contiguous mining claims covered by a mining lease, covering 156 hectares;
• Highway 101 access to site;
• Early-stage exploration project within trucking distance of Fenn Gib.

The Holloway property is primarily underlain by Kinojevis assemblage iron- and magnesium-rich tholeiitic basalts with the northern margin of the property underlain by Timiskaming-style metasediments bounded by the PDFZ. Historical drilling in 1987 intersected narrow zones of high-grade mineralization reported at 52 to 64 g/t gold over 0.3- to 0.8-metre intervals. The potential for extensions of the Holloway mine mineralization may exist at a depth of 1,000 to 1,200 metres within the property.

Terms of the purchase agreement for the Marriott, Holloway and Guibord properties

Mayfair has entered into an asset purchase agreement with Plato for its 100-per-cent interest in the Marriott properties, its 100-per-cent interest in the Holloway properties and its 50-per-cent interest in the Guibord properties for total consideration of $2.5-million in cash.

The transactions contemplated by the acquisition agreement are subject to customary conditions precedent, including ministerial consent with respect to the transfer of certain mining leases.

On closing, the cash consideration will be paid into escrow and held by an escrow agent. Fifty per cent of the funds will be released from escrow to Plato upon the transfer of the Marriott property, 25 per cent will be released from escrow on the transfer of the Holloway property and the final 25 per cent will be released from escrow on the transfer of the Guibord property.

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 PFS (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, for further information.

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.

This news release references mining projects that are nearby Fenn-Gib and the properties to be acquired by the company. Readers are cautioned that mineralization on nearby properties is not necessarily indicative of mineralization on Fenn-Gib or the properties.

We seek Safe Harbor.