Cameo completes data collection from Katoro survey

Executive Summary

• Cameo Resources Inc. has completed the field data collection for its initial induced polarization (IP) geophysical survey on its 100%-owned Katoro gold property in Tanzania.
• The survey covered 3.1855 square kilometres across five grids, identifying multiple priority drill targets coincident with previous magnetic surveys.
• Initial raw data indicates high chargeability readings (up to 250 mV/V) and suggests mineralization depths similar to nearby producing deposits (Tembo and Nyamalimbe), with a final report and drill target recommendations expected within two weeks.

Key Details

• Survey Completion: Field data collection for the initial IP survey is complete.
• Survey Scope: The survey consisted of 58 line kilometres in five grids, covering a total area of 3.1855 square kilometres.
• Contractor: Hetamis Mineral Services Ltd. conducted the fieldwork.
• Data Processing: Raw data has been handed off to Dr. Didas M. Mabula for expert processing and interpretation.
• Geophysical Findings:
  • Raw unprocessed data from five grids show multiple priority possibly mineralized drill targets.
  • Targets are coincident with previously completed magnetic geophysical survey results.
  • High chargeability readings observed, up to 250 millivolts per volt (mV/V).
  • Depth of unprocessed IP targets is similar to gold mineralization at the Tembo gold deposit (Buckreef gold mine) and Nyamalimbe gold deposits, located near surface within the top 60 to 80 metres of weathered bedrock.
• Timeline: Processed data in a final report showing highest-priority drill targets is expected within two weeks.
• Future Plans: The company expects to select priority drill targets by the second or third week of December and begin groundwork for an inaugural drill program in early January. This will be the first-ever drilling of the Katoro property.
• Property Details: The Katoro property covers 19.58 square kilometres in the Geita region of the Lake Victoria goldfields, Tanzania. It is located near the Buckreef gold mine (15 km northeast).

Notable Quotes

• Brian Thurston, PGeo (Technical Adviser): "The company's goal of targeting mineralization and fast-tracking the inaugural drill campaign is close to completion. By the second or third week of December, the company expects to have priority drill targets selected and to have already begin laying the groundwork for an early January drill program. It is exciting to see the initial IP results, indicating the high prospectivity for gold mineralization to be discovered on the Katoro property."