Mr. Souhail Abi-Farrage reports

CAMEO PROVIDES UPDATE FROM ITS INDUCED POLARIZATION SURVEY AT KATORO

Cameo Resources Inc. has completed over 50 per cent of the initial induced polarization geophysical survey previously announced Oct. 8, 2025. The company has engaged Hetamis Mineral Services Ltd. to conduct the IP survey over its 100-per-cent-owned 19.58-square-kilometre Katoro gold property, located in the Geita region of the Lake Victoria goldfields of Tanzania.

Highlights of the IP survey:

• The groundwork has been completed, and raw data collected for over 50 per cent of the initial IP survey on the Katoro property.
• The raw unprocessed data are showing multiple priority targets that are coincident with the previously completed magnetic geophysical survey.
• The depth of the IP targets in the northern part of the project area is similar to the depth of gold mineralization at the Tembo gold deposit of the Buckreef gold mine and the Nyamalimbe gold deposits, essentially presiding near surface within the top 60 metres of weathered bedrock.

Hetamis has been engaged to collaborate with Dr. Didas M. Mabula and complete the initial dipole-dipole IP survey on the property consisting of 58 line kilometres in five grids covering a total area of 3.1855 square kilometres. Three of five grids have been completed, and the raw data captured. The initial data have shown multiple priority targets with high chargeability readings up to 250 millovolts per volt. The company will wait until all field data have been collected and processed to make decisions on drill hole priorities, and fieldwork is anticipated to completed in the next two to three weeks with the goal of fast-tracking the targeting of proposed drill locations.

In collaboration with Dr. Mabula, the company has determined that approximately 65 per cent 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, the company proceed by targeting mainly the northern and central portions of the property.

Brian Thurston, PGeo, stated: "It is exciting to see the initial raw and unprocessed data already indicating the high prospectivity for gold mineralization to be discovered on the Katoro property. We continue to see similarities between the Katoro property and the Buckreef gold mine just 15 kilometres northeast an we now have IP data that suggests depths of potential mineralization comparable to what is known to occur at the Tembo gold deposit of the Buckreef gold mine. We continue to follow good science as it leads toward fast-tracking the inaugural drill program."

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.

About the Katoro gold property

The property covers 19.58 square kilometres situated within the prospective Sukumaland greenstone belt within the Lake Victoria goldfield. 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 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 Corp., AngloGold Ashanti PLC and Iamgold Corp.

About Cameo Resources Inc.

Cameo 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. 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.

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