Cameo Resources outlines gold targets at Katoro

Mr. Brian Thurston reports CAMEO DEFINES HIGH PRIORITY GOLD TARGETS Cameo Resources Inc. has received the final report from the high-resolution drone magnetic survey conducted over its 100-per-cent-owned, 19.58-square-kilometre Katoro gold property, located in the Geita region of the Lake Victoria goldfield of Tanzania. Highlights of the Katoro mag survey: There is potential for gold-mineralized structures on the entire Katoro property, which now also includes the merged Kempton property. The southern and northern parts of the project area are strongly affected by faults or shear deformations particularly along the northeast-southwest- and east-west-trending magnetic lineaments and, therefore, could likely host potential gold-mineralized structures. The most prominent northeast-southwest-trending magnetic lineament in the southern part of the project area has been interpreted as the potential mineralized shear zone, consistent with the Buckreef main shear zone, which hosts high-grade gold mineralization. The east-west-trending magnetic lineaments in the northern part of the project area are highly prospective for gold mineralization, typical of gold mineralization at the Tembo gold deposit of the Buckreef gold mine and the Nyamalimbe gold deposit. The intersections of these northeast-southwest- and east-west-trending structures may hold the most potential to discover mineralized zones and possible major gold-trapping structures in the project area. Brian Thurston, PGeo, stated: "The findings from the magnetic work of Hetamis and Dr. Didas Mabula demonstrate the high prospectivity for gold mineralization to be discovered on the Katoro property. We now have geophysical confirmation that we are on the Buckreef shear trend, which is exactly what we expected. We can now see the entire property has high-priority zones for follow-up, with Zone 1 only 550 metres from a known small-scale gold operation involving several mills and Zone 4 only 600 metres away form a medium-scale gold operation involving both milling and leaching operations." The magnetic survey to delineate the prospective mineralized structures on the property was carried out in mid-August, 2025, by Hetamis Mineral Services Ltd. in collaboration with SkyPM Solutions Ltd. and Dr. Didas M. Mabula. The survey employed a drone-mounted Geometrics MagArrow magnetometer with a GEM GSM-19 magnetometer as a base station to map the subsurface structures. Comparing the deformation intensity based on magnetic lineaments in the project area, the southern part of the project area shows prominent northeast-southwest-trending lineament patterns while the northern part displays the east-west-trending magnetic lineament. These two sets of magnetic lineaments are consistent with known faults and shear zones, which control gold mineralization at the Buckreef gold mine less than 20 kilometres northeast and in several small-scale gold deposits adjacent to the project area. This indicates that the project area is strongly affected by faults or shear deformations and therefore, could likely host potential gold-mineralized structures. The northeast-southwest-trending magnetic lineaments are consistent with the general trends of the Buckreef main shear zone while the east-west-trending magnetic lineaments are consistent with the Rwamagaza shear, which controls gold mineralization at the Tembo gold deposit of the Buckreef gold mine and the small-scale gold deposit at Nyamalimbe, the closest gold deposits to the project area. Such structural correlations imply that the project area may contain significant gold deposits at depth. Cameo intends to continue its aggressive exploration of the identified magnetic structures with further investigations of targeted geochemical sampling, pitting, trenching, geological mapping and induced polarization geophysics. Upon completion of this second phase of exploration, Cameo is planning a fast-tracked drilling programs to evaluate the mineralization potential of the property. Qualified person Brian Thurston, PGeo, the company's technical adviser and a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, has reviewed and approved the technical information in this news release. Private placement Cameo announces that it has closed a private placement with the issuance of 3,420,667 units of the company at a price of 15 cents per unit for gross proceeds of $513,100.05. Each unit consists of one common share of the company and one share purchase warrant, whereby each share purchase warrant is convertible into an additional share at an exercise price of 30 cents per warrant share. Each warrant will expire on Sept. 24, 2027, being the date that is two years following the date of issuance. The expiry date is subject to acceleration in the event the closing price of the company's common shares on the Canadian Securities Exchange is equal to or greater than 50 cents for a period of 10 consecutive trading days at any time after that date which is four months following the date of issuance, in which case the expiry date of the warrants shall automatically accelerate and the warrants will expire on that date which is 30 days from the date of notice of such acceleration event. In connection with the private placement, the company is not paying any finders' fees. Proceeds from the private placement are intended for exploration activities and general working capital purposes. All securities issued in connection with the private placement are subject to a statutory hold period expiring Jan. 24, 2026, being the date that is four months and one day from the date of issuance. About Cameo Resources Inc. Cameo Resources is a dynamic mineral exploration company dedicated to discovering and developing valuable mineral deposits. Cameo's Katoro property covers 19.58 square kilometres 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. We seek Safe Harbor.