Vancouver, British Columbia--(Newsfile Corp. - July 7, 2026) - Cambria Gold Mines Inc. (TSXV: CAMB) (OTCQX: CAMVF) ("Cambria" or the "Company") and ECC Ventures 4 Corp. (TSXV: ECCF.P) ("ECC4"), a capital pool company incorporated under the laws of British Columbia and listed on the TSX Venture Exchange ("TSXV"), are pleased to announce that they have entered into a binding term sheet effective July 6, 2026 (the "Term Sheet"), whereby Cambria and ECC4 have set forth the anticipated terms upon which the Company will spin-out all of its rights to and interests in the Mt. Margaret copper and gold porphyry deposit (the "Mt. Margaret Project") in a transaction with ECC4 as described below (the "Transaction"). The Transaction is expected to result in a reverse takeover of ECC4 by the business associated with the Mt. Margaret Project, and is intended to constitute the "Qualifying Transaction" of ECC4 pursuant to TSXV Policy 2.4 - Capital Pool Companies.
The Mt. Margaret deposit is a calc-alkaline porphyry deposit hosting high-grade copper, gold, and molybdenum mineralization located approximately 22 km southwest of Randle, Washington State. The Mt. Margaret Project is primarily located on patented federal mineral claims that are held by Cambria in partnership with the United States Federal Government Bureau of Land Management ("BLM") and located on Forest Service land. Through its US entity, Ascot USA Inc. ("Ascot US"), Cambria controls 50% mineral rights of select patented claims centered over the deposit with the BLM holding the remaining 50%, as well as other patents in the area. Cambria also controls 100% interest in 184 lode claims surrounding the property. The Company has been advancing discussions with various US Federal Government Departments, including the BLM, regarding future direction for the deposit.
About Mt. Margaret
This porphyry system was discovered and actively explored by Duval Corporation ("Duval") from 1971-1980, completing a total of 20,729m over 105 diamond drill holes (Taylor, 1980)1. In 2010, Cambria's predecessor, Ascot Resources Ltd., completed 4,880m of infill diamond drilling over 10 holes, which confirmed and expanded the mineralized zones defined by Duval's drilling (See Cambria's News Releases dated October 13, November 3, November 23, and December 1, 2010 and January 12, 2011).
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.