VANCOUVER,
BC, Feb. 13, 2025 /CNW/ - Mayfair Gold Corp.
("Mayfair", "Mayfair
Gold" or the "Company") (TSXV: MFG) (OTCQX: MFGCF) is
pleased to announce its board of directors has appointed
Drew Anwyll, P.Eng as Mayfair's new Chief Operating Officer
("COO"), effective March 1,
2025.
Mr. Anwyll is a Professional Engineer
(Ontario) with over 30 years of
experience in project and operating in Canada and globally. Mr. Anwyll has
worked extensively with companies including Generation Mining,
Detour Gold, Barrick Gold, and
Placer Dome along with various other junior and intermediate mining
companies in Northern Ontario,
across Canada and internationally.
He is broadly regarded as being technically strong with extensive
operating experience in both open pit and underground operations.
Mr. Anwyll has contributed to or directly lead the start-up,
commissioning and operation of multiple mines.
Most recently, Mr. Anwyll was COO for Generation
Mining where he led the team in Project studies, design and
pre-construction planning; he helped advance the Project
successfully through a joint federal and provincial review panel
for the environmental assessment approval and supported the team
with the permitting process; he also contributed to developing
strong relationships with key indigenous communities. Prior to
this, he was Senior Vice-President – Technical Services and
Vice-President Operations | Mine General Manager at Detour Gold's
open pit gold mine in Northern
Ontario. He held these positions during the critical
construction, commissioning and start-up of the largest gold mine
in Canada.
Nick Campbell,
Chief Executive Officer of Mayfair
stated, "Drew is a key member of the Mayfair team as we shift focus to the design,
development and execution of the Fenn-Gibb Gold Project in
Ontario. He has a proven track
record of advancing mining projects from study and design, through
environmental approvals, permitting and execution on construction
into successful operations. His extensive recent experience on
projects and mines in Ontario
makes Drew particularly suited to lead the technical team as we
advance the Fenn-Gibb gold project. I am very excited for the
opportunity to work together with Drew to unlock the value of
Fenn-Gibb for Mayfair
stakeholders."
Mr. Anwyll commented, "I'm happy to be joining
the Mayfair Gold team and look forward to making contributions and
advancing the environmental approvals and project design quickly
and efficiently. It is a solid Project that, I believe, can be
advanced to operation swiftly."
Mayfair has
granted Mr. Anwyll 350,000 incentive stock options under the
Company's share option plan at an exercise price of $1.85. 1/3 of the options will vest on
March 1, 2026 and 1/36 will vest each
subsequent month thereafter, subject to Mr. Anwyll being actively
employed at the time of vesting. Once vested, the options will
remain exercisable for a five-year term expiring on February 13, 2030.
About Mayfair Gold
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 open pit constrained
mineral resource estimate with an effective date of September 3, 2024 with a total Indicated Resource
of 181.3M tonnes containing
4.313M ounces at a grade of 0.74 g/t
Au and an Inferred Resource of 8.92M
tonnes containing 0.14M ounces at a
grade of 0.49 g/t Au at a 0.30 g/t Au cut-off grade.
Cautionary Notes to U.S. Investors Concerning Resource
Estimates
This news release has been prepared in accordance with the
requirements of the securities laws in effect in Canada, which differ from the requirements of
the U.S. securities laws. In particular, and without limiting the
generality of the foregoing, the terms "mineral reserve", "proven
mineral reserve", "probable mineral reserve", "inferred mineral
resources," "indicated mineral resources," "measured mineral
resources" and "mineral resources" used or referenced in this
presentation are Canadian mineral disclosure terms as defined in
accordance with NI 43-101 under the guidelines set out in the 2014
Canadian Institute of Mining, Metallurgy and Petroleum Standards
for Mineral Resources and Mineral Reserves, Definitions and
Guidelines, May 2014 (the "CIM
Standards"). The CIM Standards differ from the
mineral property disclosure requirements of the U.S. Securities and
Exchange Commission (the "SEC") in Regulation S-K
Subpart 1300 (the "SEC Modernization Rules") under the U.S.
Securities Act of 1933, as amended (the "Securities Act"). As a
foreign private issuer that is eligible to file reports with the
SEC pursuant to the multijurisdictional disclosure
system, the Company is not required to provide disclosure on its
mineral properties under the SEC Modernization Rules and will
continue to provide disclosure under NI 43-101 and the CIM
Standards. Accordingly, the Company's disclosure of
mineralization and other technical information may differ
significantly from the information that would be disclosed had the
Company prepared the information under the standards adopted under
the SEC Modernization Rules.
Forward Looking Information
This news release contains forward-looking
information which reflects management's expectations regarding the
Company's growth, results of operations, performance and business
prospects and opportunities. Forward-looking statements in this
news release include, but are not limited to, statements regarding
the design, development and execution of the Fenn-Gibb Gold
Project, the advancement of the Fenn-Gibb Gold Project to operation
and the timing thereof, the Company's ability to unlock value for
its stakeholders, and the advancing of environmental approvals and
project designs. Forward-looking information is based on various
reasonable assumptions including, without limitation, the
expectations and beliefs of management; the assumed long-term price
of gold; that the Company can access financing, appropriate
equipment and sufficient labour; and that the political environment
where the Company operates will continue to support the development
and operation of mining projects. Should underlying assumptions
prove incorrect, or one or more of the risks and uncertainties
described below materialize, actual results may vary materially
from those described in forward-looking statements.
Forward-looking information is subject to a
variety of risks and uncertainties which could cause actual events
or results to differ from those reflected in the forward-looking
information, including, without limitation, risks and uncertainties
relating to foreign currency fluctuations; risks inherent in mining
including environmental hazards, industrial accidents, unusual or
unexpected geological formations, ground control problems and
flooding; delays or the inability to obtain necessary governmental
permits or financing; risks associated with the estimation of
mineral resources and reserves and the geology, grade and
continuity of mineral deposits; the possibility that future
exploration, development or mining results will not be consistent
with the Company's expectations; the potential for and effects of
labor disputes or other unanticipated difficulties with or
shortages of labor; failure of plant, equipment or processes to
operate as anticipated; actual ore mined varying from estimates of
grade, tonnage, dilution and metallurgical and other
characteristics; the inherent uncertainty of production and cost
estimates and the potential for unexpected costs and expenses, gold
price fluctuations; uncertain political and economic environments;
and changes in laws or policies.
The Company undertakes no obligation to publicly
update or review the forward-looking statements whether as a result
of new information, future events or otherwise, other than as
required under applicable securities laws. The forward-looking
statements reflect management's beliefs, opinions and projections
as of the date of this news release.
Neither the TSX Venture Exchange ("TSXV")
nor its Regulation Services Provider (as that term is defined in
the policies of the TSXV) accepts responsibility for the adequacy
or accuracy of this news release.
SOURCE Mayfair Gold Corp.
