Cambria Gold Mines Intersects 98.56 g/t Gold over 8.2 Metres at the Silver Coin Deposit, Premier Gold Project

Cambria reports high-grade gold drill results and signs a US$250,000 marketing deal.

What the company is saying

Cambria Gold Mines Inc. is highlighting new high-grade gold assay results from four infill drillholes at the Silver Coin Deposit, part of the Premier Gold Project in British Columbia. The company emphasizes intervals such as 98.56 g/t Au over 8.2 m (including 794.00 g/t Au over 1.0 m) and 22.62 g/t Au over 4.4 m (including 93.80 g/t Au over 1.0 m), presenting these as evidence of potentially bulk mineable underground widths. Robert McLeod, President and CEO, frames Silver Coin as a priority for underground development in spring 2027 and a key contributor to the planned restart of the 2,500 tonne per day Premier Mill. The narrative stresses the technical rigor of the program, referencing QA/QC protocols, and the operational experience of Bruce McLeod from prior mining in the 1990s. The company also announces a promotional services agreement with Native Ads Inc. for up to twelve months and up to US$250,000, to be paid from working capital, with no securities issued and subject to TSX-V approval. The tone is confident, focusing on both technical progress and future milestones, while operational and economic outcomes remain forward-looking.

What the data suggests

The disclosed drill results are specific, with hole IDs, intervals, grades, and estimated true widths ranging from 68% to 97%. Notable intersections include 98.56 g/t Au over 8.2 m (including 794.00 g/t Au over 1.0 m) in SC26-2714, 22.62 g/t Au over 4.4 m (including 93.80 g/t Au over 1.0 m) in SC26-2710, and 3.75 g/t Au over 20.0 m (including 19.95 g/t Au over 1.0 m) in SC26-2710. The results are from the first 2026 infill drilling at Silver Coin, with over 14,000 metres of additional results pending. The company plans to use Silver Coin and Premier Deposit material as initial feed for the Premier Mill at 2,500 tonnes per day, but this is contingent on further drilling, an updated Mineral Resource Estimate, and a Feasibility Study targeted for H1 2027. The technical disclosure is detailed, including QA/QC procedures, cut-off grades (1 g/t and 10 g/t Au), and sample preparation methods. Financial disclosure is limited to the US$250,000 cost of the Native Ads agreement, with no operational cash flow or balance sheet data provided. The evidence supports technical progress but does not yet demonstrate economic viability or near-term production.

Analysis

The announcement provides detailed and credible assay results from four diamond drillholes, with specific grades, intervals, and methodological notes, which are realised and well-supported. However, much of the narrative focuses on forward-looking statements about underground development (spring 2027), the restart of mining operations, and the completion of a Feasibility Study in H1 2027. These benefits are long-dated, with no immediate operational or financial impact. The claim that Silver Coin is a 'key deposit' for the hub-and-spoke complex is not substantiated with comparative or economic data. The capital intensity flag is triggered by references to restarting the Premier Mill and constructing the Red Mountain Deposit, both of which imply significant future capital outlay with no near-term earnings impact. The tone is optimistic, but the realised progress is limited to technical drilling results, with all major value catalysts (resource update, feasibility, production) still pending.

Risk flags

• ●Project execution risk is high: the transition from promising drill results to an operational mine depends on successful completion of infill drilling, resource estimation, feasibility studies, permitting, and financing. Each step carries technical and regulatory uncertainty, and delays or negative results could materially impact timelines.
• ●Capital intensity risk is present: restarting the Premier Mill and constructing the Red Mountain Deposit will require significant capital outlay. The announcement does not disclose funding sources or committed capital, raising questions about future dilution or financing terms.
• ●Disclosure risk exists: while technical assay data is detailed, there is no information on the company's current financial position, cash balance, or capital structure. This limits the ability to assess funding runway or resilience to setbacks.
• ●Marketing spend risk: the US$250,000 investor awareness agreement with Native Ads Inc. represents a material outlay from working capital for promotional activities, which may not translate into sustainable investor interest or operational progress.

Bottom line

Cambria Gold Mines delivers strong technical drill results at the Silver Coin Deposit, with standout grades and widths that could support future underground mining. The operational narrative is credible at the technical level, but all major value drivers—resource update, feasibility study, and production restart—remain at least several months to over a year away. The company is committing up to US$250,000 for a year-long marketing campaign, which will increase visibility but does not address core project risks or funding needs. Investors should focus on the pending 14,000 metres of drill results and the upcoming resource and feasibility milestones in H1 2027. The most important takeaway is that while the technical results are promising, the timeline to production and cash flow is long, and significant execution and financing risks remain.

Announcement summary

(TSXV:CAMB; OTCQX:CAMVF) Cambria Gold Mines Inc. announced new assay results from four diamond drillholes totaling 657 metres at the Premier Mining Complex (Premier Gold Project) near Stewart in northwestern British Columbia. Highlight intervals include 98.56 g/t Au over 8.2 m (including 794.00 g/t Au over 1.0 m) in hole SC26-2714, 22.62 g/t Au over 4.4 m (including 93.80 g/t Au over 1.0 m) in hole SC26-2710, 3.75 g/t Au over 20.0 m (including 19.95 g/t Au over 1.0 m) in hole SC26-2710, and 4.55 g/t Au over 10.6 m and 2.32 g/t Au over 30.0 m in hole SC26-2719. Robert McLeod, President and CEO, stated that high gold grades over potentially underground bulk mineable widths at the Silver Coin Deposit make this area a priority for underground development in spring 2027, and that Silver Coin is a key deposit for the hub-and-spoke complex supporting the Premier Mill. The results are the first 2026 infill drilling results from the Silver Coin Deposit, located five kilometers north of the Premier Mill with access via an existing haul road. The northern portion of Silver Coin was mined in the 1990s by Westmin and Tenajon Resources by underground longhole stoping. Cambria’s approach to modeling the Silver Coin deposit is based on operational data and history from Bruce McLeod, who led exploration, development, and mining at Silver Coin in the 1990s. The southern extension is a focus of ongoing infill drilling. Material from Silver Coin, combined with high-grade from the Premier Deposit, is expected to provide the initial feed for Cambria’s 2,500 tonne per day Premier Mill during the restart of mining operations, while construction of the Red Mountain Deposit is completed. Results from over 14,000 metres of drilling at Silver Coin are expected over the next several weeks and will inform an updated Mineral Resource Estimate and Feasibility Study targeted for completion in H1 2027. Infill drilling is anticipated to continue through 2026 and into 2027, with a planned second phase of underground drilling commencing in early 2027. Drill results include: SC26-2710: 22.62 g/t Au over 4.4 m (incl. 93.80 g/t Au over 1 m), 3.75 g/t Au over 20.0 m (incl. 19.95 g/t Au over 1 m, 10.75 g/t Au over 1 m, 11.25 g/t Au over 1 m), SC26-2711: 19.10 g/t Au over 1.0 m, 1.66 g/t Au over 42.0 m (incl. 10.45 g/t Au over 1 m, 11.95 g/t Au over 1.1 m), SC26-2714: 98.56 g/t Au over 8.2 m (incl. 794.00 g/t Au over 1.0 m), 4.61 g/t Au over 16.0 m (incl. 10.67 g/t Au over 5.0 m), 3.10 g/t Au over 7.4 m, 2.54 g/t Au over 6.0 m, SC26-2719: 2.32 g/t Au over 30.0 m, 4.55 g/t Au over 10.6 m (incl. 15.25 g/t Au over 1 m, 13.7 g/t Au over 1 m). Estimated true widths range from 68% to 97% of reported intervals. Composites for significant intersections were calculated using a 1 g/t Au cut-off grade and maximum 3 metres of consecutive internal waste, with “including” results at a 10 g/t Au cut-off grade. All samples were obtained from NQ sized drill core, prepared at ALS in Terrace, BC, and analyzed by ALS Canada Ltd. using fire assay and ICP methods, with overlimit samples re-analyzed by gravimetric finish. Sampling and storage activities are conducted at the company’s secure facility in Stewart, British Columbia. Blaine Smit, P.Geo., Vice President Exploration, reviewed and approved the technical information and visited the 2026 drilling operations. Cambria Gold Mines also entered into an agreement with Native Ads Inc. to provide investor awareness and promotional services for up to twelve months, for a total cost of up to US$250,000, including setup costs, content development, management services, search engine marketing, native ad placement, display ad placement, content distribution, and content placements, to be paid from general working capital. The company may renew or terminate the agreement at its discretion, and Native Ads will not receive any securities as compensation. The engagement is subject to TSX-V approval.

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