Mr. Souhail Abi-Farrage reports

CAMEO ANNOUCES $800,000 PRIVATE PLACEMENT

Cameo Resources Corp. has arranged a non-brokered private placement for the sale of up to 26,666,667 units at a price of three cents per unit, raising a total of up to $800,000. Each unit consists of one common share of the company and one share purchase warrant entitling the holder to purchase one additional common share for a period of two years at the exercise price of five cents per share.

The company shall use the proceeds of the offering as follows:

1. $350,000 for redemption of a shareholder loan;
2. $100,000 for corporate expenses (legal, audit, annual general meeting and miscellaneous);
3. $250,000 toward the continuing exploration program on its MEG gold property;
4. $100,000 for unallocated working capital.

Based on the foregoing, and concurrent with the completion of the private placement, the company will apply for its graduation to Tier 2 of the TSX Venture Exchange.

A finder's fee of a combination of cash, shares and/or warrants will be paid to eligible finders in relation to this financing, all in accordance with regulatory policies.

This private placement is subject to approval by the TSX Venture Exchange.