Cameo Initiates Induced Polarization Survey To Further Define High Priority Drill Targets At Katoro

Executive Summary

• Cameo Resources has engaged HETAMIS Mineral Services to conduct an initial dipole‑dipole Induced Polarization (IP) geophysical survey over its 19.58 km² Katoro Gold Property in Tanzania.
• The IP program will cover 58 line‑kilometers across five grids (3.1855 km²) and is intended to fast‑track targeting of drill locations following a recent magnetic survey that identified >65% of the property as prospective for gold mineralization.
• Board update: Director Casey Lewis has stepped down after two years of service.

Key Details

• Survey Scope: 58 line‑kilometers of dipole‑dipole IP data collected in five grids, covering a total area of 3.1855 km² on the Katoro property.
• Geophysical Highlights (Magnetic Survey):

• 65% of the property shows structures favorable for gold mineralization.

• Prominent NE‑SW trending magnetic lineament in the south aligns with the Buckreef main shear zone, a known high‑grade gold host.
• E‑W trending lineaments in the north are analogous to those at the Tembo and Nyamalimbe deposits.
• Proximity to Existing Operations: Mining and milling facilities lie within <1 km of the property on the north, south, and west flanks.
• Logistics: Property is road‑accessible (19.58 km), located ~170 km SW of Mwanza and 63 km SW of Geita Region.
• Exploration Plan: Following IP data acquisition, Cameo will pursue additional geochemical sampling, pitting, trenching, and geological mapping, culminating in a fast‑tracked drill program to test identified targets.
• Technical Oversight: Brian Thurston, P.Geo., qualified person (NI 43‑101), reviewed and approved all technical information.
• Board Change: Director Casey Lewis resigned after two years of service; the company expressed gratitude for his contributions.

Notable Quotes

“The findings from the magnetic geophysical work of HETAMIS and Dr. Mabula demonstrate the high prospectivity for gold mineralization to be discovered on the Katoro property… We see the entire property has high‑priority zones for follow up…” – Brian Thurston, P.Geo., Technical Advisor

Materiality Assessment: Non-Material – Positive (operational update with no immediate financial impact).