NEW YORK, July 20, 2006 (PRIMEZONE) -- Mayfair Mining & Minerals, Inc. (OTCBB:MFMM) (Frankfurt:M1M) wishes to inform its shareholders the reasons for the change of symbol to MFMME. The E is assigned to a trading symbol when the company misses the deadline for a filing with the SEC. The company wishes to assure that every effort has been and is being made to finalise its audited accounts for the year ended March 31, 2006. The company expects to complete this process within seven days and once the accounts are filed, the stock symbol will revert to MFMM.
The company is pleased to announce that it has changed its auditors and been accepted as a client by Chantrey Vellacott DFK, of London, England. Chantrey Vellacott DFK is a long-established provider of accounting, taxation and related advisory services. Their roots go back to 1788, making them one of the oldest firms of chartered accountants in the U.K. The company has also retained the services of Deloitte, of Lusaka, Zambia to carry out the required audit services in that country.
The main reason for the delay in filing has been the rapid growth of the company during the past year and the requirement for more specialised audit requirements now that the company has established its administrative office in England and has growing operations in Africa, whilst being listed on the OTCBB exchange in the U.S.
The company's principals are again in Madagascar at this time and further developments and announcements of continuing corporate activity in this country are expected within the coming months.
On behalf of the Board of Directors,
Clive de Larrabeiti, CEO & President.
SAFE HARBOR STATEMENT
This news release may include forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, the Company's analysis of opportunities in the acquisition and development of various mining project interests and certain other matters. These statements are made under the "Safe Harbour" provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward looking statements contained herein. Forward-looking statements involve risks and uncertainties. Words such as "will," "anticipates," "believes," "plans," "goal," "expects," "future," "intends" and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks described in this press release. Such risks include, but are not limited to terrorist activities that may affect our business or the economy in general; lack of success in mining activities; the prices of metals and gemstones; lack of funds to conduct mining activities; increase in costs of production; changes in governments, laws, rules and regulations; and similar risks. For further information about the Company, please refer to its materials filed with the Securities and Exchange Commission and available on the SEC website at www..sec.gov.