Vancouver-based Ascot Resources on Tuesday announced plans to change its name to Cambria Gold Mines, as it outlined key strategic priorities for 2026 and provided an update on its restructuring process.

Cambria Gold Mines, named after the icefield located adjacent to Red Mountain, reflects a new vision for the company, said president and CEO Robert McLeod.

The rebrand comes as Ascot recently completed the final stages of its refinancing and debt restructuring and closed a private placement.

Central to Ascot’s restart strategy is the rapid development of the Red Mountain project, located east of Stewart, which is expected to supply the majority of mill feed to the recently commissioned 2 500 t/d mill at the Premier gold project.

Red Mountain hosts measured and indicated resources of about 3.2-million tonnes at an average grade of 7.63 g/t gold for 783 000 oz and is considered suitable for longhole stoping, with existing underground workings.

The company plans to blend Red Mountain ore with high-grade mineralisation from the Premier–Northern Lights deposit and potentially bulk-mineable material from the Big Missouri deposit.

Work to advance permitting of the Red Mountain access road began in late 2025, including consultation with the Nisga’a Nation, with the aim of trucking mineralised material to the Premier mill.

Ascot’s 2026 programme is expected to include construction of the Red Mountain access road, subject to approvals, infill drilling at the Premier–Northern Lights deposit, advancement of exploration and mining permits, upgrades to water treatment infrastructure, and updates to feasibility studies in the second half of the year.

“Management has been rapidly developing key permitting, geological and engineering elements to develop the Premier and Red Mountain deposits with the goal of a high-grade, hub and spoke gold mining operation to feed the recently constructed mill," said McLeod.

Meanwhile, Ascot has also amended its agreements with Sprott Private Resource Streaming and Royalty, extending the stream buydown window to December 2028 and settling missed royalty deliveries through the issuance of shares and warrants.

In addition, the company has received approval for its listing to be reactivated on the TSX-V, transferring from the NEX board. Trading has resumed under the symbol AOT.