Mayfair Gold is a junior gold exploration and development company with a single asset: the Fenn-Gib gold project in northeast Ontario, Canada. Mayfair Gold acquired Fenn-Gib in December 2020 from Lake Shore Gold for US$11M in cash plus a 1.0% net smelter returns royalty. The project has not reached commercial production. Mayfair Gold's work at Fenn-Gib focuses on exploration drilling, geological studies, engineering, and permitting — the steps required to advance a mineral property toward mine construction and eventual production. The company recently completed a Pre-Feasibility Study on Fenn-Gib, a key milestone toward a construction decision. Mayfair Gold generates no revenue and funds its activities through equity issuances, deploying that capital into drilling, technical studies, and permitting. The company's ability to advance Fenn-Gib depends on its ability to raise financing, which is heavily influenced by gold prices and investor sentiment toward the junior mining sector. The ultimate payoff would come from either building and operating a gold mine at Fenn-Gib and selling gold production, or selling or joint-venturing the project to a larger mining company once sufficient value has been demonstrated.