Cambria Gold Mines Announces Commencement of Infill Drilling at the Premier Gold Project and Marketing Services Update
Cambria Gold Mines Announces
Commencement of Infill Drilling at the Premier
Gold Project and Marketing Services Update
Vancouver, British Columbia--(Newsfile Corp. - February 26, 2026) -
Cambria Gold Mines Inc.
(
TSXV:
CAMB) (OTC Pink: AOTVF
) ("
Cambria
" or the "
Company
") is pleased to announce the
commencement of infill drilling at the Company's Premier Gold Project ("
PGP
") in northwestern British
Columbia.
Cambria has planned 27,000 meters of underground and surface diamond drilling to upgrade
resource confidence and to inform development planning as the Company works toward its plan to
restart mining operations. The Company is of the opinion that inadequate drill spacing density was a
major factor in the difficulties encountered at Premier prior to the site entering care and maintenance.
Drilling has commenced at the Premier-Northern Lights ("
PNL
") deposit, proximal to the 2,500 tonne per
day mill facility.
Drilling has commenced from surface and will be closely followed by underground drilling
of the Prew Zone on 12.5 meter centers, targeting high-grade ore shoots that are well-documented by
historic mining operations at the Premier Mine. The drill results will be used to develop detailed internal
mine plans and future Mineral Resource updates (see Figures 1 and 2).
"We are excited to commence this infill drilling program at the Premier Gold Project. The primary
objective of this drilling is to provide the necessary sample spacing and geological confidence to
upgrade Mineral Resources and Reserves, as well as accurately define future mining zones proximal
to the recently commissioned mill facilities,"
said Robert McLeod, President and CEO of Cambria.
"Once delineated, our plan is to blend or batch process ore from these deposits with high-grade ore
trucked from the nearby Red Mountain Deposit."
Drilling is expected to commence at the Big Missouri deposit in the spring.
This work may include infill
drilling of near-surface zones potentially amenable to open pit mining as well as areas with potential for
larger scale open stoping in areas proximal to existing underground workings developed in 2023 and
2024.
Cambria is currently reviewing newly received drill assay results from 2024 and 2025 programs at the
Premier Gold Project; assays were held due to the Company's inability to pay invoices in 2025 prior to
the recent recapitalization. These results are expected to be released shortly and are to be included in
an updated Feasibility Study planned for H2 2026.
Quality Assurance and Quality Control
The Company adheres to CIM Mineral Exploration Best Practices Guidelines for exploration related
activities conducted on its property. Quality Assurance and Quality Control (QA/QC) procedures are
overseen by the Qualified Person.
Analytical testing for core samples from the 2026 drill program will be performed by ALS Canada Ltd. in
North Vancouver, British Columbia and sample preparation will occur at dedicated preparation facilities
operated by ALS Canada Ltd. The entire sample will be crushed to 70% passing 2mm (10 mesh), of
which a 1000 gram split will be pulverized to 85% passing 75 microns (200 mesh). Gold testing will be
determined by conventional fire assay with a 50g charge weight and an atomic absorption finish up to
100ppm (Au-AA26).
A 50 gram fire assay with gravimetric finish will also be completed above 100ppm
(Au-GRA22). Metallic screen analysis may be considered for high-grade gold samples.
Silver and multi-
element analyses will be determined by four-acid digest with an inductively Coupled Plasma OES or
AES finish (ME-ICP61), with ore grade silver being completed by the overlimit four acid digest method
with conventional ICP-AES finish up to 1500 ppm (Ag-OG62) and by 30g fire assay with gravimetric
finish above 1500 ppm (Ag-Gra21).
Cambria will be implementing several changes to the sample preparation and analytical protocols
previously used by Ascot.
For the 2026 field season, the crush split size will be increased from the 250g
split used by Ascot to a 1000g split.
This change will provide a significantly larger and more
representative subsample for pulverization and analysis.
In addition, Cambria will request crush
duplicates and pulp duplicates at a rate of 1 in 20 samples to enable monitoring of subsampling
precision and nugget effect.
Implementation of half core duplicates by Cambria will replace the former
practice of quarter-core duplicates implemented by Ascot.
Changes to the fire assay method will also be
implemented; the fire assay charge weight will be increased from 30g (Au-AA23) to 50g (Au-AA26) for
the 2026 season to improve variance.
Overlimit fire assays will also be increased to 50g, from Au-
GRA21 to Au-GRA22.
The analytical methods for silver and multielement data will remain as established
by Ascot.
A new source of coarse blank material has been identified for the 2026 program, to replace
the carbonate-rich blank material used by Ascot in prior years.
Cambria Gold Mine's QA/QC protocols for the 2026 drill program will continue to include the insertion of
certified reference material (standards), coarse blanks and field duplicates within the sample stream.
A
program of secondary lab checks will be implemented with an accredited laboratory to confirm initial
results.
Cambria's drill core will be cut in-half with a diamond saw, with one-half placed in sealed bags and
shipped to the laboratory and the other half retained on site. Chain of custody is maintained from the drill
to the submittal into the laboratory preparation facility.
Figure 1: Plan map showing 2026 primary infill drilling target areas at the Premier-Northern
Lights deposit
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4267/285410_225cabf064e39b28_001full.jpg
Figure 2: Example of planned underground infill drilling at Prew Zone at Premier-Norther
Lights
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4267/285410_225cabf064e39b28_002full.jpg
Qualified Person and Technical Information:
The scientific and technical information within this news release has been reviewed and approved by
Blaine Smit, P.Geo. VP Exploration for Cambria Gold Mines Inc.
Mr. Smit is a non-independent
"Qualified Person" as defined under National Instrument 43-101.
Marketing Services
Cambria announces that it has entered into a six-month social media consulting services agreement with
Triomphe Holdings Ltd., doing business as Capital Analytica ("
Capital Analytica
"), an arm's-length
service provider, in accordance with the policies of the TSX Venture Exchange and applicable securities
laws. Under the agreement, Capital Analytica will provide social media consulting and related investor
awareness services for a total fee of $150,000 payable in two equal installments over the six-month
term. The agreement includes an option to renew for an additional six-month term at a rate of $75,000,
unless terminated earlier in accordance with its terms. Capital Analytica has no direct or indirect interest
in the Company or its securities and has no current intention or right to acquire any such interest during
the engagement, other than the potential grant of stock options in the future.
In addition, the Company has engaged the services of ICP Securities Inc. ("ICP") to provide automated
market making services, including use of its proprietary algorithm, ICP Premium™, in compliance with
the policies and guidelines of the TSX Venture Exchange and other applicable legislation. ICP will be
paid a monthly fee of C$7,500, plus applicable taxes. The agreement between the Company and ICP
was signed with a start date of February 26, 2026, and is for four (4) months (the "Initial Term") and shall
be automatically renewed for subsequent one (1) month terms (each month called an "Additional Term")
unless either party provides at least thirty (30) days written notice prior to the end of the Initial Term or an
Additional Term, as applicable. There are no performance factors contained in the agreement and no
stock options or other compensation in connection with the engagement. ICP and its clients may acquire
an interest in the securities of the Company in the future. ICP has no direct or indirect interest in the
Company or its securities and has no current intention or right to acquire any such interest during the
engagement, other than the potential grant of stock options in the future
ICP is an arm's length party to the Company. ICP's market making activity will be primarily to correct
temporary imbalances in the supply and demand of the Company's shares. ICP will be responsible for
the costs it incurs in buying and selling the Company's shares, and no third party will be providing funds
or securities for the market making activities.
Both the engagement of Capital Analytica and ICP remain subject to the approval of the TSX Venture
Exchange.
About Cambria Gold Mines
Cambria Gold Mines is a Canadian mining company headquartered in Vancouver, British Columbia,
and its shares trade on the TSX-V under the ticker CAMB and on the OTCID under the ticker AOTVF.
Cambria is the 100% owner of the Premier Gold mine and Red Mountain Gold Project which are located
on Nisga'a Nation Treaty Lands, in the prolific Golden Triangle of northwestern British Columbia. For
more information about the Company, please refer to the Company's profile on SEDAR+ at
www.sedarplus.ca
or visit the Company's web site at
www.cambriagold.com
.
On behalf of the Board of Directors of Cambria Gold Mines Inc.
Robert McLeod
President, CEO and Director
For further information contact:
Email:
Phone: 778-725-1060
and:
Sam Brezden
Email:
Phone: 236-838-1840
Or visit:
https://cambriagold.com/
Cautionary Statements
:
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Cautionary Statement Regarding Forward-Looking Information
All statements and other information contained in this press release about anticipated future events
may constitute forward-looking information under Canadian securities laws ("forward-looking
statements"). Forward- looking statements are often, but not always, identified by the use of words
such as "seek", "anticipate", "believe", "plan", "estimate", "expect", "targeted", "outlook", "on track"
and "intend" and statements that an event or result "may", "will", "should", "could", "would" or "might"
occur or be achieved and other similar expressions. All statements, other than statements of historical
fact, included herein are forward-looking statements, including statements in respect of the ability of
the Company to accomplish its business objectives and the intentions described herein; and future
plans, development and operations of the Company. These statements involve known and unknown
risks, uncertainties and other factors that may cause actual results or events to differ materially from
those anticipated in such forward-looking statements. Forward-looking statements include, but are not
limited to, statements regarding: the previous factors that resulted in difficulties encountered at
Premier; anticipation and timing and release of the proposed updated Feasibility Study;
commencement and timing of drilling at the Big Missouri deposit; anticipated timing of release of
previous drill assay results; implementation of changes to sample preparation and analytical
protocols and the subsequent results; receipt of the TSX Venture Exchange approval of the Capital
Analytica and ICP agreements; the anticipated benefit of the services of Capital Analytica and ICP,
risks relating to negative operating cash flows of the Company; business and economic conditions in
the mining industry generally; fluctuations in commodity prices and currency exchange rates;
environmental compliance; risks related to outstanding debt; uncertainty of estimates and projections
relating to development, production, costs and expenses, and health, safety and environmental risks;
uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral
deposits; the need to obtain additional financing to finance operations and uncertainty as to the
availability and terms of future financing; social media and reputation; negative publicity; human
rights; business objectives; shortage of personnel; health and safety; the possibility of delay in future
plans and uncertainty of meeting anticipated program milestones; claims and legal proceedings;
information systems and cyber security; internal controls; violation of anti-bribery or corruption laws;
competition; tax considerations; compliance with listing standards; enforcement of civil liabilities;
financing requirement risks; market price volatility of the common shares; uncertainty as to timely
availability of permits and other governmental approvals; the need for exchange approval, and other
regulatory approvals and other risk factors as detailed from time to time in Cambria's filings with
Canadian securities regulators, available on Cambria's profile on SEDAR+ at
www.sedarplus.ca
including the Annual Information Form of the Company dated March 24, 2025 in the section entitled
"Risk Factors". Forward-looking statements are based on assumptions made with regard to:
the
estimated costs associated with the care and maintenance plans; the tax rate applicable to the
Company; future commodity prices; the grade of mineral resources and mineral reserves; labor and
materials costs increasing on a basis consistent with the Company's current expectations, the ability
of the Company to convert inferred mineral resources to other categories; the ability of the Company
to reduce mining dilution; the ability to reduce capital costs; the ability of the Company to raise
additional financing; currency exchange rates being approximately consistent with current levels,
compliance with the covenants in Cambria's credit agreements; exploration plans; and general
marketing, political, business and economic conditions. Forward-looking statements are based on
estimates and opinions of management at the date the statements are made. Although Cambria
believes that the expectations reflected in such forward-looking statements and/or information are
reasonable, undue reliance should not be placed on forward-looking statements since Cambria can
give no assurance that such expectations will prove to be correct. Cambria does not undertake any
obligation to update forward-looking statements, other than as required by applicable laws. The
forward-looking information contained in this press release is expressly qualified by this cautionary
statement.
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