Cambria Gold Mines to Spin Out Mt. Margaret Copper-Gold Deposit

Vancouver, BC – July 13, 2026 – Leads & Copy – Cambria Gold Mines announced on July 7, 2026, its intention to spin out the Mt. Margaret copper and gold porphyry deposit, located near Randle, Washington State, into a new entity in a transaction with ECC Ventures 4 (ECC4).

The Mt. Margaret Project is situated on patented federal mineral claims, co-owned by Cambria and the U.S. Federal Government's Bureau of Land Management (BLM). Cambria holds a 50% interest in select patented claims centered over the deposit, with the BLM holding the remaining 50%. The property is located on Forest Service land.

In 2025, the U.S. Geological Survey (USGS) designated copper as a Critical Mineral, making related projects eligible for federal investment and streamlined permitting processes.

Rob McLeod, CEO of Cambria Gold Mines, recently met with David Copley, Senior Director for Global Supply Chains at the White House National Security Council (NSC), to discuss the Mt. Margaret project. McLeod also spoke with Jay Martin about Cambria’s restart plan for the Premier Gold Mine in British Columbia.

McLeod described the Mt. Margaret deposit as a substantial copper and gold deposit along the Western Corridor of North America, which had been overlooked by the U.S. mining industry. He noted that the co-ownership status between the BLM and Cambria Gold Mines was a factor in their invitation to meet with Mr. Copley at the White House.

The deposit was first discovered in the 1970s by Duval Mining, which completed 105 drill holes into a copper, gold, silver, and molybdenum porphyry deposit. Work on the project was halted in 1980 due to the eruption of Mount St. Helens.

A historical mineral resource estimate by Duval for the Mt. Margaret deposit totaled 577 million tonnes grading 0.36% copper, 0.24 g/t gold, 0.011% molybdenum, and 1.58 g/t silver. This estimate predates National Instrument 43-101 (NI-43-101) guidelines and is not compliant with current standards. Cambria Gold Mines is not treating this historical estimate as current mineral resources or reserves, and further work would be required to produce a NI-43-101 or S-K 1300 compliant resource.

In 2010, Ascot Resources drilled 10 holes on the deposit, with every hole ending in mineralization. The project features approximately one square kilometer of outcropping mineralization with no strip ratio and is open at depth. McLeod indicated that the deposit's potential high-grade core may not have been fully explored.

McLeod also highlighted the property's accessibility, with a paved road and existing logging roads, eliminating the need for helicopters and allowing for direct drilling operations.

The planned spin-out is expected to enhance shareholder value by allowing independent valuation of the Mt. Margaret Project and providing Cambria shareholders with ownership stakes in two public companies. McLeod stated that the Mt. Margaret deposit represents a unique opportunity for a potential U.S. domestic source of critical minerals.

Cambria and ECC4 intend to complete a brokered private placement financing of up to US$100 million in connection with the transaction.

Following the spin-out, Cambria will continue to focus on its two primary assets in British Columbia’s Golden Triangle: the Premier Gold Project and the Red Mountain deposit. The Premier Gold Project features paved road access, a 2,500 tonnes per day mill, hydroelectric power, and proximity to a deep-water port. Red Mountain is a high-grade underground gold deposit, with plans to blend its mineralization with bulk tonnage from Premier to create a production center.

The scientific and technical information in the news release was reviewed and approved by Blaine Smit, P.Geo., Vice President Exploration for Cambria Gold Mines Inc., who is a Qualified Person under NI 43-101.

Source: Cambria Gold Mines