Announcement • 20h
Cambria Gold Mines Reports First Results from Premier Underground Infill Drilling and Additional Surface Drilling Results At Premier Gold Project Cambria Gold Mines Inc. has announced the first results from the underground infill program at the Prew Zone and additional surface drilling results from the 602 Zone at the Premier Gold Project, located in northwestern British Columbia. Two underground and one surface drills are currently active on site. Results from a total of 15 underground drillholes and nine surface drillholes are reported herein, with results including: 19.82 g/t Au over 5.0 m (incl. 45.88g/t Au over 2.0 m) in hole P26U-0003 at Prew Zone; 14.96 g/t Au over 6.3 m (incl. 24.50 g/t Au over 3.0m) in hole P26U-0007 at Prew Zone; 11.38 g/t Au over 7.0 m (incl. 26.56 g/t Au over 2.9 m) in hole P26U-0008 at Prew Zone; 7.24 g/t Au over 9.0 m (incl. 12.93g/t Au over 3.0 m) in hole P26U-0016 at Prew Zone; 483.0 g/t Au over 1.0 m in hole P26U-0011 at Prew Zone; 9.82 g/t Au over 12.2 m (incl. 15.62 g/t Au over 4.0 m) in hole P26-2694 at 602 Zone. Drilling at the Premier-Northern Lights Deposit, Prew Zone in 2026 has been planned as closely-spaced delineation drillholes on average 12.5m centres from underground platforms to support development planning as the Company works toward a potential restart of operations. Cambria is of the opinion that the previous surface drilling at 25m average spacing was too wide to allow for accurate modelling of mineralized zones. Results from the ongoing 2026 infill program have been positive, with continuity of mineralization defined, especially within a primary quartz-breccia sulfide domain traceable in previous drilling and the underground workings. High-grade gold mineralization was encountered in this domain at the "310 Face" by the last underground development round blasted in 2025, prior to the mine being placed on care and maintenance. Mineralization at the Prew Zone consists of quartz-breccia with infilling sulfide mineralization, and in some cases includes visible gold. Close drill spacing is also proving effective in the modelling of post-mineral faults which offset and affect the orientation of mineralized zones in the Prew Zone. In addition to the underground drilling at Prew, results from an additional nine completed drillholes were received from the 602 Zone of the PNL deposit. These infill holes were drilled from surface due to limited underground access options. The 602 Zone mineralization consists of similar quartz-sulfide cemented breccias and veins to that seen at Prew and could be accessed in the future with additional underground development. Cambria anticipates the underground drill program at Prew Zone to continue into early Third Quarter 2026. Surface drilling is planned to transition to the Silver Coin and Big Missouri deposits in early July 2026 when summer access opens. The Company intends to complete a total of 27,000m of infill development drilling this year across the Premier Project deposits. \ Composite Calculations for Significant Intersections Composites for significant intersections were calculated using a 1g/t gold (Au) cut off grade and maximum 3m internal waste. "Including" results are reported at a 10g/t Au cut off grade with maximum 3m internal waste. The Company maintains a rigorous sampling and QA/QC procedure for the 2026 drill program. Core samples are prepared at the ALS preparation lab in Terrace, BC. The samples are dried and then crushed to specifications of 70% passing 2mm. Crushed samples are riffle split to 1000g and pulverized to 85% passing 75µm. Analytical work for all results is completed by ALS Canada Ltd. which maintains an internal quality assurance and quality control (QAQC) program and is ISO:17025 certified for the analytical methods used in this release. Pulp splits are sent directly from the Terrace preparation facility to the ALS Canada Ltd. geochemistry laboratory facility in North Vancouver for analysis. Each sample is analyzed for gold by conventional 50g fire assay with atomic absorption finish (Au-AA26) and multielement analysis by four-acid digest with an ICP finish (ME-ICP61). Samples over 100ppm gold are re-analyzed by an overlimit 50g fire assay with a gravimetric finish (Au-GRA22). Samples over 100ppm silver are re-analyzed with an ore grade method (ME-OG62) which is a four-acid digest method followed by an ICP-AES finish (up to 1,500ppm). Samples over 1,500ppm silver trigger the overlimit silver fire assay method (Ag-GRA21) which uses a 30g aliquot and gravimetric finish. Sampling and storage activities are conducted at the Company's secure facility in Stewart, British Columbia. The Company maintains a QAQC program that includes the submission and review of coarse blank materials to monitor contamination and certified reference materials to assess analytical accuracy. Core duplicates, crush duplicates and pulp duplicates are used to infer sampling precision and nugget effect. 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 "Qualified Person" as defined under National Instrument 43-101. To verify the information related to this news release, Mr. Smit visited the 2026 drilling operations to review and discuss logging, sampling, and shipping procedures with responsible site staff, and reviewed and discussed assay and QA/QC results with responsible company personnel. Price Target Changed • Jun 04
Price target increased by 7.4% to CA$2.43 Up from CA$2.27, the current price target is an average from 3 analysts. New target price is 92% above last closing price of CA$1.27. Stock is down 72% over the past year. The company is forecast to post a net loss per share of CA$0.31 next year compared to a net loss per share of CA$13.40 last year. New Risk • Jun 03
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Shareholders have been substantially diluted in the past year (over 11x increase in shares outstanding). Revenue is less than US$1m. 
