Cambria Gold keeps Mt. Margaret, names new director and VP

Cambria Gold Mines Inc. (TSXV: CAMB; OTCQX: CAMVF) has decided to retain its Mt. Margaret copper-gold porphyry deposit in Washington State rather than proceed with a previously announced spinout, according to a company statement.

The Vancouver-based company said it is terminating a binding term sheet with ECC Ventures 4 Corp. (TSXV: ECCF.P), cancelling the proposed spin-out transaction and concurrent financing that had been announced July 7, 2026.

Cambria appointed retired Major General Kim Colloton to its board of directors. Colloton previously served as Deputy Chief of Engineers and Deputy Commanding General for the U.S. Army Corps of Engineers, where she oversaw a $90 billion global portfolio and a workforce of 38,000 people. She currently serves as a non-executive director for Bayan Mining and Minerals Limited, listed on the Australian Securities Exchange.

Cleve Rueckert, formerly announced as Vice President (USA), will serve as Vice President of Corporate Development. Rueckert previously held the role of Vice President and Head of Investor Relations at Barrick Mining Corporation, and prior to that was an Executive Director at UBS covering metals, mining, paper and packaging sectors.

Cambria also announced equity grants totaling 2,800,000 stock options exercisable at $0.90 per share, expiring September 16, 2031, with 25% vesting at grant and additional 25% increments every six months. The company also granted 700,000 restricted share units and 180,000 deferred share units, each vesting equally over three years beginning September 16, 2027.

Mt. Margaret is located approximately 22 km southwest of Randle, Washington. A historical, non-NI-43-101-compliant resource estimate by Duval Corporation from 1980 identified 577 million tonnes grading 0.36% copper, 0.24 g/t gold, 0.011% molybdenum, and 1.58 g/t silver. Cambria stated that a qualified person has not done sufficient work to classify this estimate as current mineral resources or reserves.

You May Also Be Interested In

• Flywire adds ex-GitLab CTO Sabrina Farmer to its board
• Former defense secretary Esper joins LT350 board amid Auddia merger plan
• Tempest Therapeutics names Nancy Freda-Smith to its board