VANCOUVER, British Columbia, June 11, 2018 (GLOBE NEWSWIRE) -- Cameo Resources Corp. (TSX
Venture:CRU) (OTC:CRUUF) (FWB:SY7N) (the “Company” or “Cameo Cobalt”) is very pleased to announce
that spring drilling has commenced on the Company’s Gochager Lake Copper-Cobalt-Nickel property. Final drill positions were
solidified late last week and drilling officially started the afternoon of Friday, June 8th.
CEO, Akash Patel states, “Cameo is very much excited to kick off the Gochager Lake Spring exploration campaign. Cameo Cobalt’s
crew on the ground will complete approximately 750 metres of diamond drilling activities over a three-week drilling campaign. The
initial drillholes of the proposed drill program are designed to confirm and better delineate the massive sulphide, high-grade Ni
and associated Co mineralization in the historical drill holes.”
The Company looks forward to providing additional drilling updates in the coming weeks.
Ian Fraser, BSc., P.Geo., is a qualified person as defined in National Instrument 43-101. He has reviewed and is responsible for
the technical information presented in this news release.
Gochager Lake Copper-Cobalt-Nickel Project
The project, which consists of four claims covering 3,759 hectares, is located in northern Saskatchewan approximately 75 km
north of the town of La Ronge. Historical exploration has identified a semi-massive and massive Ni-Cu deposit with significantly
elevated levels of Cobalt, a vital component in the manufacture of the latest generation of lithium ion batteries.
The Gochager Lake Copper-Cobalt-Nickel project has reported grades of up to 3.92% Nickel, 0.70% Copper and 2.86% Cobalt as
reported by the Saskatchewan government (Mineral Deposit Index #0880). Historical resource estimates (non-NI43-101 compliant) were
generated in 1968 and 1990. The 1968 historic resource for the Gochager Lake deposit calculated 4.3 million tons grading 0.30% Ni
and 0.08% Cu. J.S. Steel, reported in 1990, that vertical and longitudinal sections were constructed from the existing data and a
historic resource with reasonably well-defined limits was defined containing 1,770,000 tonnes at 0.735% nickel-equivalent.
CAMEO COBALT CORP.
“ Akash Patel”
For more information contact:
(778) 549-6714
Or Email:
lucasbirdsall@gmail.com
www.cameocobalt.com
Reader Advisory
This news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking
information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”
and other similar words, or statements that certain events or conditions “may” or “will” occur. In particular, forward-looking
information in this press release includes, but is not limited to, statements with respect to the Company’s proposed acquisition,
exploration program and the expectations for the cobalt industry. Although we believe that the expectations reflected in the
forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot
guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved
will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and
are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ
materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the
results to differ materially from those expressed in the forward-looking information include, but are not limited to: general
economic conditions in Canada and globally; industry conditions, including governmental regulation and environmental regulation;
failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital
on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; liabilities
inherent in water disposal facility operations; competition for, among other things, skilled personnel and supplies; incorrect
assessments of the value of acquisitions; geological, technical, processing and transportation problems; changes in tax laws and
incentive programs; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. Readers
are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We
undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in
our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue
reliance on forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
