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

Highlights of the Katoro Property:

• Recent magnetic survey demonstrates over 65% of the Katoro property has potential to discover mineralized zones throughout possible gold-trappingstructures (Figure 1).

• The most prominent NE-SW trending magnetic lineament in the southern part of the project area has been interpreted as the same mineralized shear zone, consistent with the Buckreef main shear zone,which hosts high-grade gold mineralization.

• The E-W 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 theNyamalimbe gold deposit.

• Several mining and milling operations exist less than 1 kilometer from the Property boundary to the north, south, and west.

• 19.58 km roadaccessible Property, approximately 170 km southwest of Mwanza city, 63 km southwest of Geita Region.

HETAMIS has been engaged to collaborate with Dr. Didas M. Mabula and complete an initial dipole-dipole IP survey on the Property consisting of 58 line-kilometers in 5 grids covering a total area of 3.1855 km2 (Figure 2). The work is anticipated to commence immediately with the goal of fast-tracking the targeting of proposed drill locations. The Company has reviewed the previously announced magnetic survey data collected by HETAMIS in collaboration with SKYPM Solutions Limited and geophysical expert Dr. Mabula and has determined that the Katoro property warrants continued exploration work to delineate drill targets. In collaboration with Dr. Mabula, the Company has determined that approximately 65% of the Katoro property shows structural features that indicate the prospectivity to host gold mineralization. It was determined that with such a large prospective area, that the Company proceed by targeting mainly the northern and central portions of the Property.

Brian Thurston, PGeo, states: "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 now have geophysical confirmation that we are on the Buckreef shear trend which supports our own interpretation. We see the entire property has high-priority zones for follow up with Zone 1 only 550 meters from a known small-scale gold operation involving several mills, and Zone 4 only 600 meters away form a medium-scale gold operation involving both milling and leaching operations."

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Figure 1: Prospective mineralized zones of the Katoro Gold Property generated from the integrated interpretation of the results from the magnetic dataset and known mineralized shear zones in adjacent areas at Buckreef Gold Mine, Nyamalimbe and Iparamasa small-scale deposits.

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Figure 2: Dipole-Dipole Induced Polarization Grids

Simultaneous with the IP program, Cameo intends to continue its aggressive exploration of the identified magnetic structures with further investigations of targeted geochemical sampling, pitting, trenching, and geological mapping. Upon completion of this second phase of exploration Cameo is planning a fast-tracked drill program to evaluate the mineralization potential of the 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.

Director Change

The Company has made updates to its board of directors. Casey Lewis has stepped down from the board. The Company wishes to thank Mr. Lewis for his contributions for the past 2 years.

About Cameo Resources Inc.

Cameo Resources Inc. is a dynamic mineral exploration company dedicated to discovering and developing valuable mineral deposits. Cameo's Katoro property covers 19.58 Km2 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. For more information on Cameo Resources, please visit the website at www.cameoresourcesinc.com.

On behalf of the Board of Cameo Resources Inc.

Souhail Abi-Farrage

Chief Executive Officer and Director 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, 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 Cameo, 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 that are or 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 Exchange has not reviewed, approved or disapproved the contents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.

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