Cameo Industries Corp. Acquires Saganaga Gold and Silver Project in Ontario - Seite 2

The Saganaga property consists mainly of pillowed mafic flows and massive mafic volcanics intruded by a gabbro plug. In the eastern section of the property the mafic units are commonly interlayered with sedimentary sequences which include volcaniclastics and chemical sediments composed of magnetite-chert banded iron formation. In localized areas, particularly in the eastern portion of the property quartz-feldspar porphyry (QFP) dykes are found to cut the mafic volcanics.

The property contains four historical gold showings: the Powell Zone, Beaver Pond Zone, Minnow Pond Zone, and the Starr Zone. With the exception of the Powell Zone, most gold showings occur along the western contact of the gabbro plug.

Teck Cominco completed a 2,000 m (11 hole) drill program on the Saganaga property (focused on the Starr zone) in 2006 and discovered highly anomalous gold and silver values in areas where the host rock is strongly albitized with high percentages of clotted pyrite. The results of this program indicated a strong correlation between anomalous gold and silver values and areas of weak to strong albite alteration. Mineralization in the project area ranges from iron formation hosted gold in the south-west to pyrite-albite alteration zones and quartz veins with chalcopyrite in the central part and quartz veins hosting high grade gold and silver to the northeast. Benton completed a 2,654m drilling program on the property in 2012 and also intersected high-grade gold intervals at depth in multiple zones.

Figure 1: Saganaga Project Map

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The Acquisition is subject to receipt of all necessary approvals, including the approval of the Canadian Securities Exchange (CSE).

Qualified Person Statement

All scientific and technical information contained in this news release was prepared and approved by Paul Ténière, M.Sc., P.Geo., CEO and Director of Cameo Industries Corp, who is a Qualified Person as defined in NI 43-101.

On behalf of the Board of Directors

CAMEO INDUSTRIES CORP.

Paul Ténière, M.Sc., P.Geo.
CEO and Director
Suite 810 - 789 West Pender Street
Vancouver, BC V6C 1H2
Ph: [phone]
[e-mail]

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Forward-looking Information Statement

This news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to the Company’s proposed acquisition, exploration program and the expectations for the mining industry. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.