July 2, 2025 – TheNewswire - SURREY, British Columbia – Cameo Resources Inc. (CSE: MEO) (“Cameo” or the “Company”) is pleased to announce that it has completed an initial site visit of the Katoro Gold Properties (the “Properties”) located in the Geita region of the Lake Victoria Goldfields of Tanzania. Geologists visited the Properties and several active mining and milling operations surrounding the properties. Twenty rock samples were taken as part of this review and the samples have been shipped to Canada for analysis.  

 

Highlights of the Katoro Property:

 

• Current mining and milling operations surrounding the Properties less than 1 kilometer from property boundaries to the north, south, and west. 

• Gold bearing quartz vein material from surface in an alluvial setting is the current focus of mining for hundreds of local miners in the area. The company has yet to determine the limits of this type of mineralization observed on the Properties.  

• 12.52 km roadaccessible Properties, approximately 170 km southwest of Mwanza city, 63 km southwest of Geita Region. 

• Located within the Sukumaland Greenstone Belt (SGB”) home for the Buckreef mine along the same strike within Katoro, within the Lake Victoria Goldfields in north-west Tanzania. 

• Regional geophysical and structural settings suggesting an exploration potential for significant gold mineralization within the project areas. 

 

Souhail Abi-Farrage, President & CEO of Cameo, commented: " The Katoro property is uniquely situated in the center of many currently active small scale gold operations. Just 500 meters south of our property boundary a private group has recently completed two large open pits and is in the process of building a mill, a leach pad, and a carbon in leach processing plant. Multiple small privately run mills only 500 meters to the west of our property boundary are in operation exploiting gold rich structures in hard rock less than 100 meters from surface, and small to medium scale mining and processing operations are located less than 800 meters to the north of our property boundary. We are excited to see the results of our initial sampling from this area while we plan a path forward to confirm the mineralization potential of this highly prospective property."

 

 The Katoro Gold Properties

 

The Properties cover 12.52 square kilometers situated within the prospective Sukumaland Greenstone Belt within the Lake Victoria Goldfield (LVGF) (Figure 1). 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).

 

Click Image To View Full Size

Figure 1: LOCATION KATORO GOLD PROJECT of the Lake Victoria GoldField greenstone belts in north-western Tanzania.

   

   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 Cameo Resources Inc.

 

Cameo Resources Inc. is a dynamic mineral exploration company dedicated to discovering and developing valuable mineral deposits. 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, relating to the timing for closing the LOI, or that the LOI will close at all, 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 Interra, 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 that lease holder will not approve the sale of the Property, 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.