Cameo Completes NI43-101, Initiates Geophysics, And Expands Its Katoro Property In TANZANIA
August 28 - Cameo Resources Inc. (CSE: MEO, FZE: Z88) ("Cameo" or the "Company") is pleased to announce that it has completed an NI43-101 Technical Report and conducted a high-resolution drone magnetic survey for the Katoro Gold Property ("Katoro"), located in the Geita region of the Lake Victoria Goldfields of Tanzania. Furthermore, Cameo has entered into an agreement to acquire the Kempton Gold Property adjacent to Katoro, expanding the Katoro Gold Property by 6.21 square kilometers (km).
Cameo has entered into an Agreement on August 25. 2025 to acquire PL 12902/2024, the Kempton Gold Property ("Kempton"), based on the positive NI43-101 Technical Report (the "Technical Report") it has received on the Katoro Gold Property (Figure 1). The Technical Report will be made available on the Company's website. The Kempton property adjoins the Katoro to the south and covers 6.21 square kilometers (km) 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.
Click Image To View Full Size
Figure 1: PL 12902/2024 Kempton Gold Property.
The Company has expedited recommendations from the Technical Report and has expanded its high- resolution drone magnetic survey, run by HETAMIS Mineral Services Ltd. of Dar es Salam, Tanzania, to include both the Katoro and the Kempton properties using a MagArrow II from Geometrics Canada. A total of 444 line-kilometers have been flown at a 50-meter line spacing. Preliminary processing from the field data shows that the main regional lineament from the Buckreef Gold Mine less than 20 kilometers north-east extends onto and through the Katoro and Kempton Gold Properties as expected. Several secondary east-west structures believed to be the best exploration targets for gold mineralization are observed to crosscut the interpreted primary shear zones (Figure 2).
Figure 2: Katoro and Kempton preliminary Magnetic survey results.
The combined properties now cover 18.73 square kilometers (km) 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.
Brian Thurston, PGeo, states: "The expansion of the Katoro property to include the Kempton Gold Property to the south increases the prospective gold mineralized ground controlled by Cameo up by 50%. For the first time, Cameo is using modern technology to investigate the area and fast-track exploration. Although the field results are preliminary and still need to be processed further, the early results are very encouraging for the possible mineralization potential of this highly prospective property."
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 technical information in this news release.
About Cameo Resources Inc.
Cameo Resources Inc. is a dynamic mineral exploration company dedicated to discovering and developing valuable mineral deposits. For more information on Cameo Resources, please visit the website at www.cameoresourcesinc.com.
On behalf of the Board of Cameo Resources Inc. Phone Number: 1-800-325-1308 For further information contact:
Investor Relations;
Email: IR@cameoresourcesInc.com Phone Number: 1-800-325-1308
Forward Looking Information
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or" should" occur or be achieved. All statements, other than statements of historical fact, included herein, without limitation, relating to the timing for closing the Agreement, or that the Agreement will close at all, are forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a
number of assumptions and estimates that, while considered reasonable by Interra, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements thatareor may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, risks that lease holder will not approve the sale of the Property, risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration results, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Cameo does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
The Canadian Securities Exchangehasnotreviewed, approved or disapprovedthecontents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.
Copyright (c) 2025 TheNewswire - All rights reserved.
