Mayfair Gold Graduates to OTCQX

VANCOUVER, British Columbia, June 30, 2022 (GLOBE NEWSWIRE) -- Mayfair Gold Corp. (“Mayfair” or the “Company”) (TSX-V: MFG; OTCQX: MFGCF) today announced that its common shares have commenced trading on the OTCQX Best Market (the “OTCQX”) under the ticker symbol MFGCF effective today, June 30, 2022. The OTCQX is the highest market tier of OTC Markets on which more than 11,000 U.S. and international securities trade. Trading on OTCQX enhances visibility and accessibility of Mayfair Gold to U.S. investors.  The Company’s common shares are continuing to trade on the TSX.V under the symbol MFG.

Mayfair Gold President and CEO Patrick Evans commented: “We are pleased to begin trading on the OTCQX Market, which will improve market information, transparency, liquidity and ease of trading in Mayfair Gold securities. Accessibility for investors in the United States to participate in our success at the Fenn-Gib gold project in Northeast Ontario is a priority for Mayfair Gold. We are nearing completion of an 80,000-meter infill and expansion drill program designed to increase the Fenn-Gib deposit beyond the current plus 2 million ounce indicated resource (see “About Mayfair Gold Corp” below). Combined with the exceptional gold recovery results reported from recent metallurgical testing, this work program positions Fenn-Gib as one of the highest quality gold projects in Ontario.”

The OTCQX provides value and convenience to U.S. investors, brokers and institutions seeking to trade Mayfair Gold. The OTCQX is OTC Markets Group’s premier market for established, investor-focused U.S. and international companies. To be eligible, Mayfair Gold has demonstrated that it meets high financial standards, follows best practice corporate governance, demonstrates compliance with U.S. securities laws, and is current with its disclosures.

About Mayfair

Mayfair 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. An updated open-pit constrained NI 43-101 resource estimate (Source: “NI 43-101 Technical Report Fenn-Gib Project, Ontario, Canada” dated February 5, 2021, authored by JDS Energy and Mining, Inc. and Kirkham Geosystems Ltd.) reported a total Indicated Resource of 70.2M tonnes containing 2.08M ounces at a grade of 0.921 g/t Au and an Inferred Resource of 3.8M tonnes containing 75,000 ounces at a grade of 0.618 g/t Au. The deposit has a strike length of approx. 1.25km with widths ranging up to 300m. The gold mineralized zones remain open at depth and along strike to the east and west. Recently completed metallurgical tests confirm that the Fen-Gib deposit can deliver robust gold recoveries of up to 94%.

For further information contact:

Patrick Evans, President and CEO

Email:

Phone: (480) 747-3032

Web:

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.