The evolution of the structure and the phase composition of a dispersed mayenite at its interaction with metallic aluminum was studied in a temperature range from 900 to 1400 °C in both argon and air atmospheres. The aluminum loading was varied from 0 to 50 wt%. It was found that the addition of aluminum significantly affects the stability of the mayenite and other calcium aluminate phases within the studied temperature range. The formation of the electride state registered by the appearance of a characteristic electron paramagnetic resonance (EPR) signal from F+-like centers (g~1.994) in an argon atmosphere was shown to take place already at 1150 °C due to an aluminothermic reduction of this material. The super-narrow (Hp-p < 0.5 G) EPR spectra from F+-like centers, which were recently observed for the core–shell structures of the C12A7@C type only, were registered for mayenite for the first time. The results obtained in the present study testify firstly towards the possibility of significantly diminishing the temperatures required for the formation of the electride state in such systems and secondly towards the ability to stabilize the size of small electride nanoparticles within the synthesized calcium aluminate matrix.