(via TheNewswire)

February 5, 2026 – TheNewswire - British Columbia – Cameo Resources Inc. (CSE: MEO , FSE: Z88) (“ Cameo ” or the “ Company ”) is pleased to announce that it has executed a Drilling Services Agreement (the “ Agreement ”) to initiate the first ever drilling campaign on 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 .

Cameo has signed the Agreement with HETAMIS Mineral Services Ltd. (“ HETAMIS ”) of Dar es Salam, Tanzania. HETAMIS offers a comprehensive suite of consulting services that encompass environmental, technical, and operational aspects. Their team has provided consultancy services for all mineral sector-related activities, including geology, mining, mineral processing, and environmental services, delivering high-quality services to their clients.

The Company plans to immediately proceed with phased drilling campaigns on the Katoro property to systematically evaluate the 80 drill targets generated from the geophysical exploration the Company recently concluded. The first phase drill holes were selected through a collaborative process with HETAMIS and Dr. Didas M. Mabula, authors of the Technical Report on the Investigation of Gold Mineralized Zones Using Drone-Mounted Magnetic and Induced Polarization (IP) Dataset at the Katoro-Geita Gold Project, Sukumaland Goldfields, North Tanzania (the “ Technical Report ”). HETAMIS has been tasked with initiating the drill campaign as early as the first or second week of February.

Brian Thurston, PGeo, states: "In only 42 months Cameo has taken unworked virgin ground and scientifically proven that it is a very prospective property to host Buckreef-style gold mineralization. The Company has fast-tracked a drill campaign with 10-15 priority drill targets proposed for phase 1. The team has proven their commitment to shareholders, quickly delivering on this first ever drilling campaign using modern science as a guide. The results from the Technical Report indicate the high prospectivity for gold mineralization to be discovered on the Katoro property. The Company is extremely encouraged by similarities between the Katoro Property and the Tembo Gold Mine ~7km northeast and the Buckreef Gold Mine ~15km northeast.”

The first phase of drilling is planned to consist of between 10-15 drillholes selected from 2 of the 5 areas that were studied in the Technical Report, the 3 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. Additional drilling will 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.

Private Placement

The Company announces that it is undertaking a non-brokered private placement of up to $3,000,000, consisting of 10,000,000 units at $0.30.  Each unit consist of one common share and one half of a common share warrant.  Each whole warrant is exercisable at $0.50 for a period of 2 years from closing.  The Company reserves the right to accelerate the expiry of the warrants if the shares of the Company trade at or above $0.60 for a period of 5 days.

Proceeds will be used for exploration expenses and for general working capital.

Option Grant

The Company has granted 2,000,000 options pursuant to the terms of its incentive stock option plan to directors, officers and consultants. These options are exercisable for 2 years at $0.30 and vest immediately.

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.

  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 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.

Copyright (c) 2026 TheNewswire - All rights reserved.