Cameo Renews Prospecting Licenses and Mobilizes Drilling Rig
CSE: MEO
FSE: Z88 WWW.CAMEORESOURCESINC.COM
CAMEO RENEWS PROSPECTING LICENSES AND MOBILIZES DRILLING RIG
April 15, 2026, British Columbia – Cameo Resources Inc. (CSE: MEO, FSE: Z88) (“Cameo” or the “Company”) is
pleased to announce that it has started drill mobilization to initiate the first ever drilling campaign at its 100% owned,
19.58 square kilometer, Katoro Gold Property (“Katoro” or the “Property”), located in the Geita region of the Lake
Victoria Goldfields of Tanzania. The Company is also pleased to announce that it has successfully renewed two of its
Prospecting Licenses for another three years. The Prospecting Licenses are now valid until March 2029.
The Company plans to immediately proceed with phased drilling campaigns on the Katoro property to
systematically evaluate the multiple drill targets generated from the geophysical exploration the Company
recently concluded, see press release dated February 5, 2026.
Mr. Brent Strasler, Cameo CEO, states: " With the Prospecting Licenses renewed for another 3 years the
Company plans to fast-track this phase 1 drill campaign with 10-15 priority drill targets. The team has proven
their commitment to shareholders by delivering on this first ever drill campaign. Using modern science as a
guide, Cameo has proven that the Katoro property is prospective to host Buckreef-style gold mineralization.
The Company is extremely encouraged by similarities between the Katoro Property and the Tembo Gold
Deposit ~7km northeast and the Buckreef Gold Mine ~15km northeast and we look forward to drilling off
several of our high-priority northern anomalies.”
The first phase of drilling is planned to consist of between 10-15 drillholes selected from the first of five areas
that were tested by induced polarization by the Company, the remaining areas will be tested in subsequent
drill campaigns. The first phase drillholes will target the northern project area’s magnetic anomalies with E-
W trending magnetic lineaments that are believed to be highly prospective, typical of gold mineralization at
the Tembo gold deposit of the Buckreef Gold Mine and the Nyamalimbe gold deposit. Coincidental IP
anomalies in this area have Chargeability readings as high as 250mV/V believed to represent massive to semi-
massive sulphide zones. The Company has sampled massive to semi-massive sulphide material from mining
operations less than 1 kilometer from the northern claim border that have returned gold values of
238.74g/t (8.42oz) Au and 169.22g/t (5.97oz) Au. Phase 1 drilling may also target the central property’s
intersections of NE-SW and E-W trending magnetic structures that may hold the most potential to discover
mineralized zones and possible major gold-trapping structures. The proposed anomalies are all relatively
shallow to a depth of 120 meters which mimic the mineralized depths at Tembo and Buckreef Mines to the
northeast.
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 The Katoro Gold Property
The Property covers 19.58 square kilometers 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 multi-million-ounce gold deposits and has ongoing operations by some of the largest
gold companies in the world. The concessions have been mined by artisanal miners for some time, evidenced
by the multiple shallow pits and trenches showing iron carbonate altered mafic volcanics (basalts) and quartz
feldspar porphyry intrusions. Gold is associated with grey quartz veins and stringers that exhibit a pinch and
swell characteristic, parallel to the fabric of east-west shear zones. The concessions occur within a broader
area that has seen exploration and mining activities by several companies including, TRX Gold Corporation
(TSX:TRX), AngloGold Ashanti plc (NYSE:AU), and IAMGOLD Corporation (TSX:IMG).
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 Km 2 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.
Mr. Brent Strasler
Chief Executive Officer and Director
Phone Number: 1-800-325-1308
For further information contact:
Investor Relations;
Email: [email protected]
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.