Cameo Resources to acquire Kempton project for shares

Executive Summary

• Cameo Resources Inc. entered into a securities exchange agreement to acquire 100 % of the Kempton Gold Project in Tanzania by issuing 7 million common shares to shareholders of PrivCo at a deemed price of $0.1125 per share.
• The transaction will transfer all of PrivCo’s rights, title and interest in the Kempton property to Cameo upon closing; no new control persons are expected post‑closing.
• This acquisition expands Cameo’s portfolio beyond its Nevada lithium focus into precious‑metal assets, aligning with its strategic goal of growth through strategic acquisitions.

Key Details

• Agreement Date: September 29, 2025.
• Counterparties: Cameo Resources Inc. and 1315418 B.C. Ltd. (PrivCo).
• Consideration: Issuance of 7 million Cameo common shares to PrivCo shareholders at a deemed price of $0.1125 per share.
• Transaction Structure: Securities exchange – Cameo purchases all securities held by PrivCo shareholders; upon closing, Cameo receives 100 % of PrivCo’s outstanding shares and the Kempton Gold Project rights.
• Project Acquired: Kempton Gold Project located in the Geita region of Tanzania.
• Control Persons: No new control persons anticipated after the acquisition.
• Strategic Rationale: Diversifies Cameo’s asset base into precious metals, complementing its existing lithium exploration portfolio in Nevada.

Notable Quotes

(No direct quotes were provided in the release.)