Cambria Gold Mines Retains Mt. Margaret Deposit

VANCOUVER, British Columbia, Sept. 17, 2026 /CourierPR/ -- Cambria Gold Mines Inc, a Canadian mining company listed on the TSXV and OTCQX, announced significant changes to its strategic direction and leadership structure. The company decided to retain its ownership in the Mt. Margaret copper and gold porphyry deposit in Washington State, deferring a previously proposed spinout. This decision was made after discussions with strategic partners and feedback from investors, as well as the strong fundamentals for copper prices.

According to Robert McLeod, CEO of Cambria Gold Mines, the company now sees the potential to add substantial value by advancing Mt. Margaret as a significant asset within its portfolio. The Mt. Margaret deposit, covering over one square kilometer of outcropping mineralization, is located in Washington State and is open for expansion in most directions and at depth below 500 meters. The company plans to continue drilling, engineering, and construction advancements at the Premier Gold Mine Complex and the Red Mountain Gold Deposit in the Golden Triangle of British Columbia, providing updates on these projects in the near future.

To support the new vision, Cambria has appointed Kim Colloton, a retired Major General from the U.S. Army, as a director. Colloton brings over 30 years of experience in strategic and enterprise-wide leadership, including roles as the Deputy Chief of Engineers and Deputy Commanding General for the U.S. Army Corps of Engineers. Additionally, Cleve Rueckert, previously announced as Vice-President (USA), will assume the role of Vice-President of Corporate Development. Rueckert, with 20 years of capital markets experience, most recently served as Vice-President, Head of Investor Relations at Barrick Mining Corporation.

Cambria's management team, including Asa East, Vice-President of Exploration (USA), David Thomas, Vice-President Projects (USA), and Orla Abrahams, Manager, Stakeholder Relations (USA), will continue in their current roles. The company is also advancing permit applications and environmental studies to support additional exploration drilling at Mt. Margaret. Early discussions with local communities and county, state, federal, and Tribal representatives are underway to establish open communication and understand stakeholder priorities.

The Mt. Margaret deposit was discovered and actively explored by Duval Corporation from 1971 to 1980, with a total of 20,729 meters of drilling over 105 diamond drill holes. In 2010, Cambria's predecessor, Ascot Resources Ltd., completed 4,880 meters of infill drilling, confirming and expanding the mineralized zones defined by Duval's drilling. A historical mineral resource estimate for the Mt. Margaret deposit, totaling 577 million metric tons grading 0.36% copper, 0.24 grams per tonne gold, 0.011% molybdenum, and 1.58 grams per tonne silver, was completed by Duval. While this estimate is not compliant with current standards, the company is working on modernizing the assessment.

Cambria also announced the granting of incentive stock options and restricted share units to new directors, officers, employees, and consultants. The company granted 2,800,000 stock options and 700,000 restricted share units, with vesting schedules and expiration dates detailed in the release.