ONTARIO NEWS RELEASE: Ontario Designates Fourth Major Project Under ‘One Project, One Process’

TORONTO – Today, Minister Stephen Lecce announced the Ontario government is fast-tracking Mayfair Gold Corporation’s Fenn-Gib Gold Project under the ‘One Project, One Process’ (1P1P) framework, marking the fourth project to be designated since 1P1P was launched last October. As part of its plan to protect Ontario workers and communities in the face of U.S. tariffs, the government is unlocking the full potential of the province’s metals and mining sector, with this project marking another key step in building a fully integrated and self-reliant mining supply chain. The Fenn-Gib Gold Project represents a $450 million capital investment and is expected to create 250 good-paying long-term jobs, 450 additional construction jobs and add $3 billion to the province’s GDP.

“For too long, permitting delays stood in the way of getting Ontario’s resources to market,” said Stephen Lecce, Minister of Energy and Mines. “One Project, One Process is singlehandedly changing that — cutting duplication by half and delivering a one-stop shop for mining permitting including for Mayfair Gold’s Fenn-Gib project that will create 700 jobs and add $3 billion to our GDP. To compete, we must be the best, which is why our government is planning to further accelerate permitting this fall, to get mines built faster, unlocking billions in investment to create more good-paying jobs right here at home. From second slowest jurisdiction to open a mine in the world to emerging as one of the best in the industrialized world, our government is challenging the status quo so that we emerge as the strongest and a more sovereign energy powerhouse.”

Located approximately 17 kilometres east of Matheson in the Timmins gold district, the Fenn-Gib Gold Project will have an initial mine life of 15 years once operational with a new open-pit gold mine and an on-site processing facility with associated mine infrastructure. Mayfair Gold’s preliminary economic assessment estimates on-site gold processing capacity of approximately 4,800 tonnes per day and an indicated gold resource of approximately 4.3 million ounces. Project engineering is currently underway, with subsequent permitting and site preparation expected to continue through 2028. Construction and commissioning are planned between 2028 and 2030, with production targeted to begin in 2030.

“The One Project, One Process designation is an important milestone for the Fenn-Gib Gold Project and reinforces Ontario’s commitment to responsible, investment-ready mining development,” said Drew Anwyll, P.Eng., Chief Executive Officer of Mayfair Gold. “This framework provides greater coordination and predictability as we advance Fenn-Gib through permitting and development, helping move the project closer to construction and the significant employment and economic opportunities it can create for the region.”

Through 1P1P, Ontario is cutting red tape, streamlining approvals and making it easier to get mining projects off the ground. These efforts are delivering results helping Ontario rise to become second in the world for mining investment according to the Fraser Institute. These efforts, combined with continued legislative reforms introduced this Fall will provide greater certainty for industry and ensure Ontario remains one of the most competitive and attractive places in the world to invest and build.

Ontario is Canada’s top mineral producer, generating $14.2 billion worth of minerals in 2025. The province’s previously outdated, fragmented permitting system caused delays of up to 15 years to open a mine – holding back investment, job creation and access to critical and strategic minerals. The 1P1P framework is a coordinated, whole-of-government approach to streamline permitting approvals, end bureaucratic delays and attract global investment. Through 1P1P, the Ministry of Energy and Mines acts as a single point of contact to coordinate all necessary provincial approvals and Indigenous consultation to reduce government review time by 50 per cent. This will provide operators and investors the certainty and predictability needed to get new mines open faster and secure Ontario’s position as a global leader in responsible, fast-tracked mining development.

The Crown’s duty to consult obligation remains fully upheld under 1P1P. The new framework provides a more coordinated, transparent and timely approach to project reviews and consultation with Indigenous communities. Ontario continues to encourage meaningful Indigenous participation in the mining sector through employment, training, community benefits and equity partnerships. Mayfair Gold is committed to engaging with Indigenous communities on baseline studies, site planning, and future opportunities as the project advances.