The Last Owner Spent C$538 Million Building This Gold Mine Complex and Still Ended Up in a Rescue Restructuring. A Third Generation Miner From the Town Next Door Is Now Bringing It Back

A 2,500 tonne per day mill already built, a high grade deposit with 544,000 ounces in the Measured category and a US copper gold system co owned with the federal government. The whole company was valued at C$298 million

On behalf of Cambria Gold Mines Inc.

In the 1920s, a young miner went underground at a place called Premier, a few kilometers outside the town of Stewart in northern British Columbia.

Premier was a famous mine. Over its life the complex produced about 2.1 million ounces of gold and 42 million ounces of silver.¹ Generations of Stewart families made their living there.

That miner’s grandson grew up in Stewart, started his career working in the Premier mill in 1991 and later became a geologist at a deposit called Red Mountain, just down the valley.

His name is Robert McLeod. At the end of 2025, he took over as President and CEO of the company that owns both of those deposits, after it had come close to collapse.²

The previous owner had done something remarkable and something disastrous at the same time. It spent about C$538 million since 2021 building a brand new 2,500 tonne per day mill, a tailings facility, a water treatment plant and about 6,300 meters of underground development.³

Then, it ran out of road. Mining difficulties in 2024 led to a shutdown at Premier, the company was forced into a restructuring and its shares were moved to the NEX board before a rescue financing put it back on its feet.⁴

Today, that mill is still standing, waiting for a restart. And on October 15, 2026, the entire company that owns it was valued at about C$298 million,⁵ roughly 40% less than what was spent on the complex in the last five years alone.⁶

Breaking News

Cambria Gold Mines Announces Marketing Agreement with Maximus Strategic Consulting Inc.

Meet the Company Restarting Premier

That company is Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF).

It used to be called Ascot Resources. After the rescue, the new team renamed it Cambria, after the spectacular icefield next to Red Mountain, and set out a very different plan for the business.⁷

Cambria is targeting commissioning of the Premier mill in the fourth quarter of 2027, with production ramping up through 2028.⁸ Management’s stated goal is a “high-grade, hub and spoke gold operation that blends ore from several deposits through that one existing mill.”⁹

If that sounds like a big claim for Cambria at its current size, consider what the previous owners already paid for.

The mill is built. The tailings facility is built. The power line is built, because the Premier Gold Complex sits on British Columbia’s hydro grid, and has road access off Highway 37A.¹⁰

Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) also reports about C$430 million in tax pools from all that spending, which could shelter future income once the mine is running.¹¹

In other words, the hard and expensive part of building a gold mine has largely been done. What is left is the part that went wrong.

There is also plenty of gold to feed that mill. At Premier, Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) reports Indicated resources of about 1.066 million ounces at 8.01 g/t gold plus about 1.18 million Inferred ounces at 7.25 g/t gold.¹²

Add Red Mountain, and the two projects hold more than 3 million ounces of gold resources across all categories, along with millions of ounces of silver.¹³

Resources are not reserves, and the updated feasibility study Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) is preparing will restate them, but the scale is real.

Location matters too. Premier sits in the Golden Triangle, one of the most prolific mining districts in Canada, and the Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) presentation map shows other deposits nearby, including Scottie Resources and Dolly Varden.¹⁴

Cambria Gold describes its four significant deposits as having the potential to scale up over time. Owning a built mill in the district could make the company a natural hub for the region as more projects advance.

Why are investors looking at Cambria Gold Mines?

Building a new gold mine is brutally expensive. One gold restart in Washington State is costing about US$485 million, and new builds can take years. Now imagine skipping most of that. Imagine the mill, the tailings dam, the water plant and the power line are already standing. That is the position Cambria Gold Mines is in right now.

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What Went Wrong the First Time

Cambria’s own presentation lists the mistakes plainly. The mill Cambria inherited was the same size as the 1990s open pit operation and hard to feed, Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) says underground development started far too late and none of the deposits had been drilled tightly enough to support Proven Reserves.¹⁵

Leases and upkeep costs piled up. Most surprising, the previous owner did no work on Red Mountain, its highest grade deposit, after acquiring it in 2019.

At Cambria, the new team is attacking every one of those problems directly. Infill drilling at Premier is now being done on 12.5 meter spacing so the company can locate the gold with far more confidence before it mines it.¹⁶ Earlier surface drilling at roughly 25 meter spacing was too wide to model the zones accurately, which the company considers a likely contributor to the past difficulties.¹⁷

Cambria has been open about the water challenge as well. The water treatment plant at Premier struggled with zinc discharge compliance after it was built in 2024, so Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) took over operations with its own staff, brought in consultants and upgraded equipment.¹⁸ Results improved over the two months before the October update.¹⁹

The geology itself has been rebuilt. The old 2021 model was built as grade shells, while Cambria’s new model factors in the quartz and sulfide veins, the breccias and the faults that cut through them.²⁰

That is the kind of unglamorous work that separates a mine that runs from one that stumbles. It is also why the drilling results Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) has reported this year have been worth paying attention to.

Press Releases

The Drill Results Are Backing Up the Plan

In April, Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) reported that a hole into the 602 Zone at Premier returned 17.95 g/t gold over 22 meters, including 552 g/t gold over half a meter, with visible gold in the core.²¹

In June, Cambria Gold reported that underground infill holes at the Prew Zone returned 19.82 g/t gold over 5.0 meters and 483.0 g/t over 1.0 meter.²² July added 24.36 g/t gold over 6.3 meters and 13.17 g/t over 10.6 meters from the same zone.²³

Then came September. Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) reported 166.22 g/t gold and 3,383 g/t silver over 3.1 meters at Premier, including 467 g/t gold and 9,510 g/t silver over 1.1 meters.²⁴

"Ongoing infill drilling is showing strong continuity of high-grade mineralization."

— Robert McLeod, President and CEO, Cambria Gold Mines25

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On the back of those results, Cambria expanded its infill program to 42,000 meters.²⁶ Drilling has also moved to Silver Coin and Big Missouri, where earlier holes returned up to 20.75 g/t gold over 15.9 meters.²⁷

Those two deposits matter for the early years. Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) is modeling Big Missouri and Silver Coin as bulk mineable underground zones with some shallow open pit potential, and plans to blend that tonnage with high grade ore from Premier while Red Mountain is developed.

Over the long run, Cambria is targeting about 1,500 tonnes a day from Red Mountain and 500 from Premier, for 2,000 tonnes a day at high grade.²⁸ That design keeps the mill fed with richer ore than the previous plan, which is the heart of the turnaround.

Individual intercepts are not average grades, and the company reports them as down hole lengths. But together they support the high grade continuity the new plan depends on.

Red Mountain: The Gold Deposit the Last Owner Ignored

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If Premier is the engine room for Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF), Red Mountain is the fuel. Cambria calls it the key to a successful operation, and the numbers quickly explain why the team feels that way.

Red Mountain hosts 544,000 ounces of gold in the Measured category at 8.81 g/t, part of a Measured and Indicated resource of about 783,000 ounces at 7.63 g/t.²⁹ For Cambria, that matters because Measured is the highest confidence category a resource can carry.

The deposit already has production size underground access within 200 meters of surface, and high grade zones reach up to 25 meters in true width at the Marc Zone. Average mineralization thickness is about 15 meters, and only about 1,600 meters of development is needed for the first year of stoping.

The gold occurs, Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) says, as free gold right next to coarse pyrite grains, and the mineralized zones are surrounded by a broad, gold rich halo, with external dilution averaging about 2.1 g/t gold according to the company presentation.³⁰ In plain and practical terms, even the waste rock that gets mixed in when Cambria mines still carries some gold.

Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) says no additional drilling is required at Red Mountain until road access is in place, and the resource is open for expansion in multiple directions.³¹

"It is one of the highest quality undeveloped deposits in Canada."

— Robert McLeod, President and CEO, Cambria Gold Mines32

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The man running Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) knows this rock personally. He was a junior geologist at Red Mountain for Lac Minerals in the early 1990s, long before Cambria existed, and he later led IDM Mining, which took the project through feasibility and its EA and EIS approvals before selling to Ascot in 2019.

The plan is to mine about 2,000 tonnes a day at Red Mountain for eight or nine months of the year, avoiding the deepest winter snow,³³ and Cambria would truck the ore about 50 kilometers through Stewart and Hyder to the Premier mill.³⁴

Getting there requires a road, and that work is under way now. Construction on the roughly 23 kilometer access road began in June, rebuilding a roadbed that dates back to 1910.³⁵

Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) is building it with partners. Red Mountain and Premier sit on Nisga’a Nation Treaty Lands, Nisga’a Growth Corp. is doing environmental monitoring on the road and fisheries offsets aim to improve salmon spawning habitat in the Bear River Valley.³⁶

Over time, Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) is studying an aerial tramline or rope conveyor from Red Mountain to the Bitter Creek valley, after the road.³⁷ It is the kind of long term thinking you would expect from a team planning for many years of operation.

The final permit needed to build the road, a Fisheries Act Authorization, arrived on September 21. Cambria is aiming to reach the Bromley Humps area, about 12 kilometers from the highway, by the end of 2026, with the alpine section planned for the 2027 season.³⁸

The Path to the First Gold Pour

Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) has laid out its timeline in public. Underground upgrades at the Premier Northern Lights deposit are due by the end of 2026, Silver Coin development is planned for spring 2027 and all of the mill upgrades are slated for completion during 2027.³⁹

The updated feasibility study Cambria has commissioned, with SLR Advisors as lead author, covers both of the projects and is targeted for the first half of 2027. The company says no additional infill drilling is needed at Red Mountain.⁴⁰

The mill upgrades are specific and modest compared with building from scratch. Cambria plans a new primary jaw crusher, converting an unused clarifier into a pre-leach thickener and adding a fine grinding mill and a second detox tank.

Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) has also bought and commissioned its own underground equipment fleet and hired an entirely new engineering team of professionals, including an experienced underground manager with Golden Triangle experience at the Brucejack Mine.

Why a Restart Can Beat a Build

To see why an existing mill matters so much for Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF), look at what new mines cost in today’s market. Kinross, for example, is spending hundreds of millions of dollars to restart a mill and develop an underground mine in Washington State.⁴¹

Building takes time too. Artemis needed about 22 months to build Blackwater,⁴² and Osisko is targeting first gold at Cariboo in early 2029 after its decision in September 2026.⁴³

Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) is starting from a very different place. The mill is standing, the tailings facility and water treatment plant are in place and kilometers of underground workings already exist.⁴⁴

That is why the timeline Cambria has published is measured in quarters. The work that remains, from mill modifications to underground development and the Red Mountain road, is being done in parallel and targets commissioning in Q4 2027.

Restarts are not risk free, as the previous owner proved. But a restart led by people who understand what went wrong, using infrastructure that is already paid for, is a very different proposition from a greenfield build.

Why the Market May Be Looking at This the Wrong Way

Here is the pattern that matters for Cambria, one that has played out again and again in Canadian gold mining.

A developer like Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) is valued as a risky project while it builds, and then valued as a producer once the gold starts flowing.

At the end of 2022, Artemis Gold was valued at about C$848 million while it was building its Blackwater mine in central British Columbia.⁴⁵ Artemis declared commercial production in May 2025⁴⁶ and by October 15, 2026 the company was worth about C$9.22 billion.

Skeena, which is restarting the past-producing Eskay Creek mine right in the Golden Triangle, was valued at about C$546 million at the end of 2022.⁴⁷ With first production targeted for 2027,⁴⁸ it was worth about C$5.67 billion on October 15, 2026.

G Mining Ventures tells the same story. It was valued at about C$309 million at the end of 2022,⁴⁹ and is now worth about C$13.64 billion (October 15, 2026). The company built its Tocantinzinho mine in Brazil and declared commercial production in September 2024,⁵⁰ the step Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) is now working toward.

Artemis and Skeena show where a successful developer can go, and Osisko Gold, which is building the Cariboo Gold project at Barkerville, is a fellow British Columbia developer that the company could be measured against.

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Osisko made its final investment decision on Cariboo in September and is targeting first gold in early 2029.⁵¹ Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) is targeting mill commissioning more than a year earlier, in the fourth quarter of 2027, with a mill that is already standing.⁵²

None of this guarantees that Cambria will follow the same path. These companies differ in size, reserves and stage. But it shows what the market has paid for developers that reach production.

The US Copper Deposit: A Volcano Put on Hold for 30 Years

If the gold restart were the whole story, Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) would already be worth a close look. But there is a second asset, and McLeod has called it found money in interviews.

It is called Mt. Margaret, a copper, gold and molybdenum porphyry deposit about 22 kilometers southwest of Randle, Washington.⁵³

Duval Mining discovered it in the 1970s and drilled 105 holes by 1980. Then, in 1980, Mt. St. Helens erupted.⁵⁴ According to Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF), roads and bridges were washed out, more than a foot of ash fell in places and work on the project stopped.⁵⁵

Duval had produced a historical estimate of 577 million tonnes grading 0.36% copper and 0.24 g/t gold.⁵⁶

Nobody drilled the deposit again until 2010, when Ascot put in 11 holes that confirmed the historic mineralization and doubled its known depth extent.⁵⁷ One of those holes ran 499.9 meters at 0.34% copper, and another ran 496.0 meters at 0.46% copper and 0.23 g/t gold.⁵⁸

The company says the deposit has more than one square kilometer of outcropping mineralization at surface, and Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) notes it remains open in most directions and below 500 meters.⁵⁹

The ownership is just as unusual. Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) controls 50% of the mineral rights on the patented claims at the heart of the deposit, and the US federal government controls the other 50%.⁶⁰

Cambria has the right to earn 100% of the property, subject to a 1.5% net smelter royalty and a negotiated federal royalty. It also staked about seven square kilometers of new claims around the deposit this year.⁶¹

For Cambria, the timing could hardly be better. The US relied on imports for an estimated 57% of its copper consumption in 2025, up from 45% a year earlier,⁶² and copper was added to the government’s final 2025 list of critical minerals.⁶³

Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) is not alone in seeing potential in Washington State, which is proving it can host modern mining.

In January 2026, Kinross approved about US$485 million to restart its Kettle River mill and develop the Curlew underground mine in the state, with first production expected in 2028.⁶⁴

Natural resources already run deep in the state. Resource extraction accounted for about US$7.2 billion of Washington’s 2024 GDP, and Lewis County, home to Mt. Margaret, is the most active logging region in the state.⁶⁵

The Mt. Margaret valley Cambria is exploring was clear-cut in the 1990s and the deposit has paved road access, nearby power and access to tidewater.⁶⁶

Cambria‘s Mt. Margaret project could have another advantage: the federal FAST-41 permitting process. Designed to cut through lengthy permitting delays, FAST-41 offers qualifying mining projects a more coordinated review process, clearer timelines and a more predictable path toward development.⁶⁷

Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) had planned to spin Mt. Margaret out into a separate US company. In September, the company changed course and decided to keep it, citing the asset’s Tier 1 potential, talks with strategic partners and feedback from its own shareholders.⁶⁸

"We see the opportunity to build an exceptional growth-oriented company at Cambria, anchored by near-term gold production at the Premier Gold Mine Complex in Canada and a potential Tier 1 copper deposit at Mt. Margaret."

— Robert McLeod, CEO, Cambria Gold Mines69

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The US team at Cambria is now advancing permit applications and environmental studies for new exploration drilling.⁷⁰ The first deep holes into a system that is open below 500 meters could be some of the most important news the company ever releases.

The People and the Money Behind the Restart

Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) is not a lone management team hoping for the best. Its largest shareholder is Ccori Apu, a family-owned mining investment group, which holds about 36%.⁷¹

Ccori Apu, Franklin Templeton and the Fiore Group together control over 50% of the company. That is a tight, committed shareholder base for a company of this size.

The rescue itself was substantial. Cambria’s predecessor closed a C$175 million private placement in two tranches by January 27, 2026, part of about C$190 million of equity recapitalization that also included a rights offering.⁷²

Since then, warrant holders have kept writing checks. As of October 5, Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) had received more than C$45.9 million from warrant exercises.⁷³

The board and management have been strengthened too. In September, Cambria added retired Major General Kim Colloton, formerly Deputy Chief of Engineers of the US Army Corps of Engineers, to its board.⁷⁴

It also named Cleve Rueckert, the former Head of Investor Relations at Barrick, as Vice President of Corporate Development.⁷⁵

And in May, Cambria upgraded its US listing to the OTCQX Best Market to make the company easier for American investors to follow.⁷⁶

Gold Has Pulled Back. History Says Pay Attention

There is one more reason the timing is interesting. Gold set a record above US$5,500 an ounce in late January 2026 and closed near US$4,172 on October 15, a pullback of about 25%. Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) cannot control the gold market, but history offers some perspective.

Pullbacks like this have happened before inside long gold bull markets. Gold fell about 45% in the mid 1970s before setting new records by 1980, and dropped roughly 30% in 2008 before reaching new highs in 2011.⁷⁷

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A gold developer like Cambria is not the same as the metal, and nobody can call the bottom of a correction. But a company with a mill already built and a restart planned for late 2027 is positioned to bring ounces to market in whatever gold environment comes next.

What Comes Next for Cambria

The next fifteen months are packed with milestones that can move the story from promise to proof.

Red Mountain road. Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) is aiming to reach Bromley Humps by the end of 2026.
More drill results. Initial infill results from Silver Coin were expected in October 2026, with drilling continuing through year end.
Underground development. Upgrades at Premier Northern Lights are due by the end of 2026, with Silver Coin development planned for spring 2027.
Updated feasibility study. Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) is targeting the first half of 2027.
Mill commissioning. Targeted for the fourth quarter of 2027, with ramp up through 2028.
Mt. Margaret permitting. Applications and environmental studies for new drilling are being advanced.

The Bottom Line

Somebody already spent more than half a billion dollars building this gold mine complex. The company that owns it today was valued at a fraction of that in mid October.

Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) has a mill, a permitted project at Premier, a Measured high grade resource at Red Mountain with its EA and EIS approvals, a road under construction and a team led by a man whose family has worked these deposits for three generations.

It also holds a US copper gold porphyry that a volcano put on hold for three decades, with the right to earn 100%, at a time when US copper import reliance has jumped to an estimated 57%.

Developers like Artemis and Skeena were valued at well under a billion dollars at the end of 2022. Cambria is targeting its own restart in the fourth quarter of 2027.

For investors who want to be watching before that happens, now is the time to put Cambria Gold Mines Inc. (TSXV:CAMB) (OTCQX:CAMVF) on the radar.

Why are investors looking at Cambria Gold Mines?

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footnotes:
[1] https://cambriagold.com/wp-content/uploads/Cambria-Corporate-Presentation-Sept-18.pdf [2] https://cambriagold.com/news/ascot-announces-closing-of-the-first-tranche-of-private-placement-changes-to-leadership-and-creditor-restructuring/ [3] https://capital10x.com/wp-content/uploads/2026/09/Cambria-Gold-Mines-Initiation-CAPITAL10X.pdf [4] https://cambriagold.com/news/ascot-resources-announces-key-elements-of-2026-vision-proposes-name-change-to-cambria-gold-mines-inc-and-updates-restructuring/ [5] https://finance.yahoo.com/quote/CAMB.V/ [6] https://cambriagold.com/wp-content/uploads/Cambria-Corporate-Presentation-Sept-18.pdf [7] https://cambriagold.com/news/ascot-resources-announces-key-elements-of-2026-vision-proposes-name-change-to-cambria-gold-mines-inc-and-updates-restructuring/ [8] https://cambriagold.com/news/cambria-gold-mines-announces-development-and-construction-update-at-red-mountain-and-premier-gold-projects-additions-to-engineering-team-and-warrants-exercised-to-date/ [9] https://cambriagold.com/news/ascot-resources-announces-key-elements-of-2026-vision-proposes-name-change-to-cambria-gold-mines-inc-and-updates-restructuring/ [10] https://cambriagold.com/wp-content/uploads/Cambria-Corporate-Presentation-Sept-18.pdf [11] https://cambriagold.com/wp-content/uploads/Cambria-Corporate-Presentation-Sept-18.pdf [12] https://cambriagold.com/wp-content/uploads/Cambria-Corporate-Presentation-Sept-18.pdf [13] https://cambriagold.com/wp-content/uploads/Cambria-Corporate-Presentation-Sept-18.pdf [14] https://cambriagold.com/wp-content/uploads/Cambria-Corporate-Presentation-Sept-18.pdf [15] https://cambriagold.com/wp-content/uploads/Cambria-Corporate-Presentation-Sept-18.pdf [16] https://cambriagold.com/news/cambria-gold-mines-announces-development-and-construction-update-at-red-mountain-and-premier-gold-projects-additions-to-engineering-team-and-warrants-exercised-to-date/ [17] https://cambriagold.com/news/cambria-gold-reports-first-results-from-premier-underground-infill-drilling-including-19-82-g-t-au-over-5-0-meters-and-483-0-g-t-au-over-1-0-meters-at-prew-zone/ [18] https://cambriagold.com/news/cambria-gold-mines-announces-development-and-construction-update-at-red-mountain-and-premier-gold-projects-additions-to-engineering-team-and-warrants-exercised-to-date/ [19] https://cambriagold.com/news/cambria-gold-mines-announces-development-and-construction-update-at-red-mountain-and-premier-gold-projects-additions-to-engineering-team-and-warrants-exercised-to-date/ [20] https://cambriagold.com/wp-content/uploads/Cambria-Corporate-Presentation-Sept-18.pdf [21] https://cambriagold.com/news/cambria-gold-mines-intersects-17-95-g-t-au-over-22-0-m-including-552-0-g-t-au-over-0-5-m-from-premier-mine-infill-drilling/ [22] https://cambriagold.com/news/cambria-gold-reports-first-results-from-premier-underground-infill-drilling-including-19-82-g-t-au-over-5-0-meters-and-483-0-g-t-au-over-1-0-meters-at-prew-zone/ [23] https://cambriagold.com/news/cambria-gold-mines-announces-24-36-g-t-au-over-6-3-meters-from-prew-zone-announces-start-of-infill-drilling-at-big-missouri-and-silver-coin-deposits/ [24] https://cambriagold.com/news/cambria-gold-mines-announces-166-2-g-t-au-and-3383-g-t-ag-over-3-1-meters-at-premier-and-expanded-drilling-program/ [25] https://cambriagold.com/news/cambria-gold-mines-announces-166-2-g-t-au-and-3383-g-t-ag-over-3-1-meters-at-premier-and-expanded-drilling-program/ [26] https://cambriagold.com/news/cambria-gold-mines-announces-166-2-g-t-au-and-3383-g-t-ag-over-3-1-meters-at-premier-and-expanded-drilling-program/ [27] https://cambriagold.com/news/cambria-gold-mines-reports-results-from-2024-2025-drilling/ [28] 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https://www.kitco.com/news/article/2026-06-24/golds-28-correction-painful-history-suggests-bull-market-isnt-over

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6) This document contains forward-looking information and forward-looking statements within the meaning of applicable Canadian and United States securities legislation, (collectively, “forward-looking statements”), which reflect management's expectations regarding Cambria Gold Mines Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Cambria Gold Mines Inc.’s industry; (b) market opportunity; (c) Cambria Gold Mines Inc.’s business plans and strategies; (d) services that Cambria Gold Mines Inc. intends to offer; (e) Cambria Gold Mines Inc.’s milestone projections and targets; (f) Cambria Gold Mines Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Cambria Gold Mines Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Cambria Gold Mines Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Cambria Gold Mines Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Cambria Gold Mines Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Cambria Gold Mines Inc.’s ability to enter into contractual arrangements with additional parties; (e) the accuracy of budgeted costs and expenditures; (f) Cambria Gold Mines Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Cambria Gold Mines Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Cambria Gold Mines Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Cambria Gold Mines Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Cambria Gold Mines Inc.’s business operations (e) Cambria Gold Mines Inc. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, Cambria Gold Mines Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Cambria Gold Mines Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Cambria Gold Mines Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Cambria Gold Mines Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Cambria Gold Mines Inc. or such entities and are not necessarily indicative of future performance of Cambria Gold Mines Inc. or such entities.

8) The technical information contained in articles and videos produced for this campaign has been reviewed and approved by Mr. Blaine Smit, P.Geo. at Cambria Gold Mines Inc. as the Qualified Person for the Company as defined in National Instrument 43-101.

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The Last Owner Spent C$538 Million Building This Gold Mine Complex and Still Ended Up in a Rescue Restructuring. A Third Generation Miner From the Town Next Door Is Now Bringing It Back

A 2,500 tonne per day mill already built, a high grade deposit with 544,000 ounces in the Measured category and a US copper gold system co owned with the federal government. The whole company was valued at C$298 million

Breaking News

Meet the Company Restarting Premier

What Went Wrong the First Time

Press Releases

The Drill Results Are Backing Up the Plan

Red Mountain: The Gold Deposit the Last Owner Ignored

The Path to the First Gold Pour

Why a Restart Can Beat a Build

Why the Market May Be Looking at This the Wrong Way

The US Copper Deposit: A Volcano Put on Hold for 30 Years

The People and the Money Behind the Restart

Gold Has Pulled Back. History Says Pay Attention

What Comes Next for Cambria

The Bottom Line

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