Listed on:    TSXV:CRU    OTC:CRUUF    FWB:SY7N

info@cameocobalt.com

Vancouver, British Columbia – May 13, 2019 – Cameo Industries Corp. (TSX Venture: CRU) (OTC: CRUUF) (FWB: SY7N) (the “Company” or “Cameo”) is pleased to announce the completion of a three-dimensional (“3D”) inversion model of a magnetic anomaly identified on its 100 per-cent-owned Big Mac property. The company previously completed a helicopter-borne magnetic survey over the Big Mac property, located in British Columbia’s prolific Golden Triangle, 16 kilometres northwest of the Eskay Creek mine (see Cameo’s news release dated Sept. 6, 2018).

Interpretation of the airborne magnetic data identified a strong magnetic anomaly stretching more than five kilometres in a generally north-northeast trend across the Big Mac East block claims. This anomaly appears to be up to approximately one kilometre wide and is interpreted to potentially reflect a buried back-arc spreading centre.

The anomaly occurs within Hazelton Group basalts, mapped as Eskay rift fill by government geologists, on a prominent topographic feature referred to as Pillow Ridge; it lays entirely within the Big Mac East block and is located 16 kilometres northwest of the historical gold-producing and silver-producing Eskay Creek mine site.

At Cameo’s request, Campbell & Walker Geophysics Ltd. (“Campbell & Walker”) modeled the magnetics in 3D, leveraging advanced voxel modelling software in order to better determine extents, continuity and probable depth to source.  Campbell & Walker found that the 3D inversion model   indicates the presence of a deep-seated magnetic body below the East block anomaly; further profile by profile analysis suggests there may be surficial expressions of an alteration halo arising from the inferred deep-seated intrusive.  That is, following the unconstrained 3D inversion, Campbell & Walker completed a “classical” parametric magnetic model from the profiles, identifying at least five points worthy of surficial investigation where ‘apophyses’ appear to reach relatively near to the surface, in a halo around the interpreted deep-seated intrusive.  Cameo considers these points especially worthy of field examination and surface geochemical sampling. The 3D model results will strongly support field investigations planned for the approaching field season.

Akash Patel, Chief Executive Officer and a Director of Cameo stated: “Cameo is thrilled to receive such positive results from its Big Mac 3D modelling initiatives and is committed to continuing to advance this high impact Golden Triangle property. The Company looks forward to leveraging the information derived from these initial modeling exercises to hone our exploration focus on the 2019 season”.

BIG MAC GOLD PROJECT

The Big Mac gold project consists of 12 mineral claims covering 9171 hectares in two separate claims blocks situated in the Golden Triangle of British Columbia. This represents the largest claim package in the proximity of Aben Resources’ Forrest Kerr gold project.   The Big Mac East Block (larger of the two blocks) is located between the past-producing Eskay Creek gold and silver mine (16 kms southeast), and Aben Resources’ 2018 drilling (9 kms to the north) which reportedly intersected multiple high-grade gold zones, including 38.7 grams per tonne gold over 10.0 metres (see Aben Resources’ news release dated August 9, 2018).

Qualified Person

Harrison Cookenboo, Ph.D., P.Geo., is a qualified person as defined in National Instrument 43-101.  He has reviewed and is responsible for the technical information in this news release.

 CAMEO INDUSTRIES CORP.

“Akash Patel”   
For more information contact: (778) 549-6714
Or Email: nik@iacinvest.com

www.cameo.industries

 

 

Reader Advisory

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 cobalt 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.

 

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation and environmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; liabilities inherent in water disposal facility operations; competition for, among other things, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, processing and transportation problems; changes in tax laws and incentive programs; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

 

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.