Mr. Souhail Abi-Farrage reports

CAMEO COMPLETES ITS INDUCED POLARIZATION SURVEY AT KATORO

Cameo Resources Inc. has completed the field data collection from its initial induced polarization (IP) geophysical survey previously announced Oct. 8, 2025. The company 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 over 3.1855 kilometres of the initial IP survey on the Katoro property.
• The raw unprocessed data from five grids show multiple priority possibly mineralized drill targets that are coincident with the previously completed magnetic geophysical survey.
• The depth of the unprocessed IP targets 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 to 80 metres of weathered bedrock.
• Processed data in a final report showing the highest-priority drill targets are expected within two weeks.

Hetamis has completed its fieldwork and data collection from 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. The data have been handed off to Dr. Didas M. Mabula, who collaborates with Hetimas to provide expert data processing and interpretation. The initial raw data presented to the company has shown multiple targets with high chargeability readings up to 250 millivolts per volt (mV/V). che Company expects to be in receipt of the final report showing the processed data and making recommendations of the highest-priority drill targets.

Brian Thurston, PGeo, states: "The company's goal of targeting mineralization and fast-tracking the inaugural drill campaign is close to completion. By the second or third week of December, the company expects to have priority drill targets selected and to have already begin laying the groundwork for an early January drill program. This will be the first-ever drilling of the Katoro property. It is exciting to see the initial IP results, indicating the high prospectivity for gold mineralization to be discovered on the Katoro property. The company remains very motivated as they continue to see similarities between the Katoro property and the Buckreef gold mine just 15 km northeast. IP results suggested depths of potential mineralization at Katoro comparable to what is known to occur at the Tembo gold deposit of the Buckreef gold mine. The company continues to follow good science as it leads to fast-tracking the inaugural drill program."

The company's goal of fast-tracking the targeting of proposed drill locations.

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 (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 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 Resources 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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