Mr. Souhail Abi-Farrage reports

KATORO FINAL TECHNICAL REPORT GENERATES 80 HIGH PRIORITY DRILL TARGETS

Cameo Resources Inc. is now in receipt of the technical report on the investigation of gold mineralized zones using drone-mounted magnetic and induced polarization (IP) data set at the Katoro-Geita gold project, Sukumaland goldfields, North Tanzania. The technical report provides detailed interpretation of magnetic and induced polarization surveys performed 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 technical report:

• Integrated interpretation of the geophysical results has determined five distinct mineralized zones identified in the project area detected at varying depths ranging from a few metres below the surface to approximately 100 metres;
• These zones appear to extend west and/or east beyond the boundaries of the project area and/or surveyed blocks, indicating additional potential areas for gold mineralization;
• These zones depict three significant trends aligned with the magnetic lineaments interpreted as faults and/or shear zones with the most-dominant east-west trend mirroring the Tembo gold deposit of Buckreef gold mine;
• The prospective mineralized zones are characterized by moderate to high chargeability values of up to 250 mV/V (millivolts per volt), and generally low-intermediate resistivity values of approximately 10 metres to 700 metres. The zones are presumed to be associated with disseminated sulphides and gold mineralization within the Precambrian rocks and quartz veins found within shear zones.
• High chargeability values in the prospective zones indicate potential areas likely to host sulphide-rich gold mineralization.
• A total of 80 drill holes were proposed for drilling in the project area to explore potential mineralized zones.

The company plans to directly proceed with phased drilling campaigns at its Katoro property to systematically evaluate the massive amount of drill targets generated from this maiden geophysical exploration work. A 10- to 15-drill-hole drill program is presently being designed to evaluate the first two of the five mineralized zones. The company has solicited bids from several qualified drilling contractors in Tanzania and expects to lock in a contract shortly with drilling anticipated as quickly as early February.

Brian Thurston, PGeo, states: "The company's goal of targeting mineralization and fast-tracking a drill campaign is now close to completion with 80 priority drill targets having been generated in only four months on the property. The team has proven their commitment by quickly delivering on this first ever drilling of the Katoro property 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 and the company is extremely encouraged as they continue to see similarities between the Katoro property and the Tembo gold mine approximately seven km northeast and the Buckreef gold mine approximately 15 km northeast."

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. (Toronto Stock Exchange: TRX), AngloGold Ashanti PLC (New York Stock Exchange: AU) and Iamgold Corp. (TSX: IMG).

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 (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.

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