Cambria Gold Mines plans to spin out its Mt. Margaret copper-gold project in Washington into a separate public company, unlocking value for shareholders while advancing a potentially significant U.S. critical minerals asset.
Canada, 13th Jul 2026 – Global Stocks News – Sponsored content disseminated on behalf of Cambria Gold Mines. On July 7, 2026, Cambria Gold Mines (TSXV: CAMB; OTCQX: CAMVF) announced that it intends to spin out the Mt. Margaret copper and gold porphyry deposit, located 22 kilometers southwest of Randle, Washington State.
Cambria and ECC Ventures 4 (ECC4) have entered into a binding term sheet anticipating that Cambria will spin-out all of its rights to and interests in the Mt. Margaret copper and gold porphyry deposit in a transaction with ECC4.
The Mt. Margaret Project is primarily located on patented federal mineral claims that are held by Cambria in partnership with the US Federal Government Bureau of Land Management (BLM), on Forest Service land. Cambria controls 50% mineral rights of select patented claims centered over the deposit with the BLM holding the remaining 50%.
In 2025, the U.S. Geological Survey (USGS) added copper to the official list of Critical Minerals, making related projects eligible for federal investment and streamlined permitting.
Rob McLeod, the CEO of Cambria Gold Mines, recently met with David Copley, Senior Director for Global Supply Chains at the White House National Security Council (NSC).
After returning from meetings with Copley in Washington, D.C., McLeod sat down with Jay Martin to discuss the Mount Margaret copper project and Cambria’s restart plan for the Premier Gold Mine in British Columbia.
“We found a unicorn in the dusty back offices of what was Ascot Resources and is now Cambria Gold,” reported McLeod in the Jay Martin interview. “It’s a substantial copper and gold deposit along the Western Corridor of North America.
Somehow, this extraordinary deposit was completely under the radar of the US mining industry. One of the reasons we were promptly invited to the White House to meet with Mr. Copley was the co-ownership status between the US Bureau of Land Management and Cambria Gold Mines.
This deposit was discovered in the 1970s by Duval Mining. They drilled 105 drill holes into a copper, gold, silver and molybdenum porphyry deposit. In 1980, a volcano, Mount St. Helens, erupted just south of that deposit. That halted work on the project.”
Note: A historical mineral resource was completed by Duval for the Mt. Margaret deposit, totaling 577Mt grading 0.36% Cu, 0.24 g/t Au, 0.011% Mo, and 1.58 g/t Ag (Taylor, 1980)(1). This historic estimate predates the implementation of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI-43-101”) guidelines and is not compliant with currently accepted reserve and resource classifications as set forth by the Canadian Institute of Mining and Metallurgy, August 20, 2000 (CIM Guidelines) or the United States Securities and Exchange Commission’s Regulation Subpart 1300 of Regulation S-K (“S-K 1300”). Furthermore, uncertainty regarding cut off grade, metal prices, modelling methodology, or other parameters and assumptions used in the Duval work could impact the reliability of the historic estimation. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and the Company is not treating the historical estimate as current mineral resources or mineral reserves. Further work including quality assurance / quality control procedures, geological modelling, and assay certificate and collar validation by a Qualified Person would be required to produce a NI-43-101 or an S-K 1300 compliant resource. There are no guarantees that this additional work would confirm the historical resource estimate defined by Duval.
“Over the years, the project changed hands,” continued McLeod. “In 2010, Ascot Resources drilled 10 holes on the deposit to confirm the historic resource and to test it to depth. Every hole ended in mineralization. There’s about one square kilometer of outcropping mineralization. That’s important because you don’t have a strip ratio. It’s not kilometers deep like many new copper discoveries, and it’s wide open to depth.
In the 1970s, there was an accepted geological theory that the highest-grade copper mineralization was in the philic zone, which is a halo around the potassic core. We now know that the potassic core can have the best grades. So, we haven’t drilled the high-potential core of this system yet.”
“A paved road gets you right onto the property,” added McLeod. “Logging roads from the 1990s still crisscross the property. I spent so much of my career working in the mountains of Northwestern BC, Alaska, the Yukon and Nunavut. It’s an advantage to be able to work in an area where we don’t need helicopters. You can just drive up and start drilling.”
The spin-out will provide Cambria shareholders with an ownership stake in two separate public companies and is expected to increase shareholder value by allowing capital markets to ascribe value to the Mt. Margaret Project independently of Cambria’s British Columbia assets.
“With over one square kilometer of copper-gold-silver-molybdenum mineralization at surface, that is open for expansion in most directions and at depth below 500 meters, the Mt. Margaret deposit represents a unique opportunity for a potential US domestic source of critical minerals,” stated McLeod in the July 7, 2026 press release. “We are assembling a strong, experienced and diverse management team to responsibly advance this deposit.”
In connection with the Transaction, Cambria and ECC4 intend to complete a brokered private placement financing for gross proceeds of up to US$100 million
Post spin-out, Cambria will remain focused on its two lead assets in BC’s Golden Triangle, on Nisga’a Nation Treaty Lands.
The Premier Gold Project has paved road access, a 2,500 tonnes per day mill, grid-connected hydroelectric power, and proximity to a deep-water port. Multiple deposits include Premier, Silver Coin, Big Missouri, Dilworth, and Martha Ellen.
Red Mountain is a high-grade underground gold deposit, located approximately 15 kilometres northeast of Stewart, BC. The plan is to blend high-grade Red Mountain mineralization (75%) with bulk tonnage mineralization from Premier (25%) to create a hub & spoke production center.
The scientific and technical information within this news release was reviewed and approved by Blaine Smit, P.Geo. Vice President Exploration for Cambria Gold Mines Inc. Mr. Smit is a non-independent “Qualified Person” as defined under NI 43-101 – Standards of Disclosure for Mineral Projects.
1 Taylor, J.D., 1980, Margaret project status report: Duval Corporation report (unpublished). Available in the Washington Department of National Resources Archives.
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