On April 04, 2024, Mayfair Gold Corp. announced that it has responded to a letter released by Muddy Waters Capital LLC dated April 2, 2024, confirming that Muddy Waters has requisitioned a meeting of shareholders for the purpose of reconstituting the Company?s board of directors. The Company stated that it is reviewing the requisition and will respond within the timeframe set out in applicable legislation and urged shareholders not to take any action.

The Company added that contrary to Muddy Waters? assertion that it hoped to resolve issues with the Company quickly, it has consistently refused to engage in a constructive dialogue with the Company and has insisted that the Board immediately appoint its nominee Darren McLean as a director and chair, despite Darren McLean never having served as a director or officer of a Canadian public company. Further, When the Board indicated its willingness to consider Darren McLean?s candidacy as part of a comprehensive and proactive process to identify suitable candidates for board recruitment, Muddy Waters refused.

In addition, the Board and management remain committed to good governance and value creation and will continue to take actions that they believe are in the best interests of the Company.