Cameo Resources to Begin Drilling at Katoro Gold Property
British Columbia — February 5, 2026 — Leads & Copy — Cameo Resources Inc. (CSE: MEO, FSE: Z88) has executed a Drilling Services Agreement to begin its first drilling campaign at the Katoro Gold Property in Tanzania.
The company’s Katoro property is 100% owned and covers 19.58 square kilometers. It is located in the Geita region of the Lake Victoria Goldfields of Tanzania.
Cameo signed the Agreement with HETAMIS Mineral Services Ltd. of Dar es Salam, Tanzania. HETAMIS offers a suite of consulting services, including environmental, technical, and operational aspects. They provide consultancy services for mineral sector-related activities, such as geology, mining, mineral processing, and environmental services.
The company plans to begin phased drilling campaigns on the Katoro property to assess the 80 drill targets identified from geophysical exploration. The first phase drill holes were selected 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.
HETAMIS has been tasked with starting the drill campaign as early as the first or second week of February.
Brian Thurston, PGeo, said that in 42 months Cameo has scientifically proven that its unworked virgin ground is a prospective property to host Buckreef-style gold mineralization. He added that the team has fast-tracked a drill campaign with 10-15 priority drill targets proposed for phase 1 and that the company is encouraged by similarities between the Katoro Property and the Tembo Gold Mine (~7km northeast) and the Buckreef Gold Mine (~15km northeast).
The initial drilling phase will involve 10-15 drillholes selected from 2 of the 5 areas studied in the Technical Report. The remaining areas will be tested in later drill campaigns. These drillholes will target magnetic anomalies in the northern project area with E-W trending magnetic lineaments, which are believed to be prospective and 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.
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.
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.
Cameo also announced a non-brokered private placement of up to $3,000,000, consisting of 10,000,000 units at $0.30. Each unit includes one common share and one half of a common share warrant. Each whole warrant is exercisable at $0.50 for two years from closing. The company can accelerate the expiry of the warrants if the shares trade at or above $0.60 for five days.
Proceeds will be used for exploration expenses and for general working capital.
The Company has granted 2,000,000 options to directors, officers and consultants under its incentive stock option plan. These options are exercisable for 2 years at $0.30 and vest immediately.
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.
Cameo Resources Inc. is a mineral exploration company focused on discovering and developing mineral deposits. The Katoro property is in the Sukumaland Greenstone Belt within the Lake Victoria Goldfield.
Souhail Abi-Farrage is Chief Executive Officer and Director of Cameo Resources Inc.
Source: Cameo Resources Inc.
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