(TheNewswire)
April 15, 2026, BritishColumbia - TheNewswire– CameoResourcesInc.(CSE:MEO, FSE: Z88) (“Cameo” or the “Company”)ispleasedtoannouncethat it has started drill mobilization to initiate the first ever drilling campaign at its 100% owned,19.58 square kilometer, Katoro Gold Property(“Katoro” or the “Property”),located inthe Geita region of the Lake Victoria Goldfields of Tanzania. The Company is also pleased to announce that it has successfully renewed two of its Prospecting Licenses for another three years. The Prospecting Licenses are now valid until March 2029.
The Company plans to immediately proceed with phased drilling campaigns on the Katoro property to systematically evaluate the multiple drill targets generated from the geophysical exploration the Company recently concluded, see press release dated February 5, 2026.
Mr. Brent Strasler, Cameo CEO, states: " With the Prospecting Licenses renewed for another 3 years the Company plans to fast-track this phase 1 drill campaign with 10-15 priority drill targets. The team has proven their commitment to shareholders by delivering on this first ever drill campaign. Using modern science as a guide, Cameo has proven that the Katoro property is prospective to host Buckreef-style gold mineralization. The Company is extremely encouraged by similarities between the Katoro Property and the Tembo Gold Deposit ~7km northeast and the Buckreef Gold Mine ~15km northeast and we look forward to drilling off several of our high-priority northern anomalies.”
The first phase of drilling is planned to consist of between 10-15 drillholes selected from the first of five areas that were tested by induced polarization by the Company, the remaining areas will be tested in subsequent drill campaigns. The first phase drillholes will target the northern project area’s magnetic anomalies with E-W trending magnetic lineaments that are believed to be highly prospective, typical of gold mineralization at the Tembo gold deposit of the Buckreef Gold Mine and theNyamalimbe gold deposit. Coincidental IP anomalies in this area have Chargeability readings as high as 250mV/V believed to represent massive to semi-massive sulphide zones. The Company has sampled massive to semi-massive sulphide material from mining operations less than 1 kilometer from the northern claim border that have returned gold values of 238.74g/t (8.42oz) Au and 169.22g/t (5.97oz)Au. Phase 1 drilling may also target the central property’s intersections of NE-SW and E-W trending magnetic structures that may hold the most potential to discover mineralized zones and possible major gold-trappingstructures. The proposed anomalies are all relatively shallow to a depth of 120 meters which mimic the mineralized depths at Tembo and Buckreef Mines to the northeast.
Qualified Person
Brian Thurston, P.Geo., the Company’s technical advisor and a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the technicalinformationinthisnewsrelease.
About The Katoro Gold Property
The Property covers 19.58 square kilometers situated within the prospective Sukumaland Greenstone Belt within the Lake Victoria Goldfield (LVGF). One of the most important mining sites in Africa, Tanzania’s LVGF holds several multi-million-ounce gold deposits and has ongoing operations by some of the largest gold companies in the world. The concessions have been mined by artisanal miners for some time, evidenced by the multiple shallow pits and trenches showing iron carbonate altered mafic volcanics (basalts) and quartz feldspar porphyry intrusions. Gold is associated with grey quartz veins and stringers that exhibit a pinch and swell characteristic, parallel to the fabric of east-west shear zones. The concessions occur within a broader area that has seen exploration and mining activities by several companies including, TRX Gold Corporation (TSX:TRX), AngloGold Ashanti plc (NYSE:AU), and IAMGOLD Corporation (TSX:IMG).
About Cameo Resources Inc.
Cameo Resources Inc. is a dynamic mineral exploration company dedicated to discovering and developing valuable mineral deposits. Cameo’s Katoro property covers 19.58 Km2 situated within the prospective Sukumaland greenstone belt within the Lake Victoria goldfield (LVGF). One of the most important mining sites in Africa, Tanzania's LVGF holds several multimillion-ounce gold deposits and has continuing operations by some of the largest gold companies in the world. The concessions have not been explored by modern methods until now. Formore informationonCameoResources,pleasevisitthewebsiteatwww.cameoresourcesinc.com.
On behalf of the Board of Cameo Resources Inc.
Mr. Brent Strasler
Chief Executive Officer and Director
PhoneNumber: 1-800-325-1308
Forfurtherinformationcontact:
Investor Relations;
Email: [email protected]
Phone Number: 1-800-325-1308
Forward Looking Information
Thisnewsreleasecontainscertain“forward-lookinginformation”and“forward-lookingstatements” (collectively“forward-lookingstatements”)withinthemeaningofapplicablesecuritieslegislation. Forward-lookingstatementsarefrequently,butnotalways,identifiedbywordssuchas“expects”, “anticipates”,“believes”,“intends”,“estimates”,“potential”,“possible”,andsimilarexpressions,or statementsthatevents,conditions,orresults“will”,“may”,“could”,or”should”occurorbeachieved. All statements, other than statements of historical fact, included herein, without limitation, areforward-lookingstatements.There canbenoassurancethatsuchstatementswillprovetobeaccurate,andactualresultsandfuture eventscoulddiffermateriallyfromthoseanticipatedinsuchstatements.Forward-lookingstatements reflectthebeliefs,opinionsandprojectionsonthedatethestatementsaremadeandarebasedupon anumberofassumptionsandestimatesthat,whileconsideredreasonablebyCameo,areinherently subject to significant business, economic, competitive, political and social uncertainties and contingencies.Manyfactors,bothknownandunknown,couldcauseactualresults,performanceor achievementstobemateriallydifferentfromtheresults,performanceorachievementsthatareor may be expressed or implied by such forward-looking statements and the parties have made assumptionsandestimatesbasedonorrelatedtomanyofthesefactors.Suchfactorsinclude,without limitation, risks that lease holder will notapprovethesaleoftheProperty, risksassociated withpossibleaccidentsandotherrisksassociatedwithmineralexplorationoperations,theriskthat theCompanywillencounterunanticipatedgeologicalfactors,risksassociatedwiththeinterpretation ofexplorationresults,thepossibilitythattheCompanymaynotbeabletosecurepermittingand othergovernmentalclearancesnecessarytocarryouttheCompany'sexplorationplans,theriskthat theCompanywillnotbeabletoraisesufficientfundstocarryoutitsbusinessplans,andtheriskof political uncertainties and regulatory or legal changes that might interfere with the Company's businessandprospects.Readersshouldnotplaceunduerelianceontheforward-lookingstatements andinformationcontainedinthisnewsreleaseconcerningtheseitems. Cameo doesnotassumeanyobligationtoupdatetheforward-lookingstatementsofbeliefs,opinions,projections,orotherfactors,shouldtheychange,exceptasrequiredbyapplicablesecuritieslaws.
TheCanadianSecuritiesExchangehasnotreviewed,approvedordisapprovedthecontentsofthis pressrelease,anddoesnotacceptresponsibilityfortheadequacyoraccuracyofthisrelease.
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