Vancouver, British Columbia – April 24, 2018 – Cameo Resources Corp. (TSX Venture: CRU) (OTC: CRUUF) (FWB: SY7D) (the “Company” or “Cameo Resources”) is pleased to note that Nemaska Lithuum Inc. has launched an offering of senior secured callable bonds on a private placement basis for proceeds of USD 300-350M.
Nemaska Lithium Inc. holds the Whabouchi Lithium deposit claims, which extend to within 1 km of Cameo’s Montagne Lake Property in central Québec. Nemaska Lithium’s Whabouchi lithium deposit is one of the most important spodumene lithium deposits in the world, both in size and grade. Nemaska Lithium is currently raising funds for the construction and commissioning of its proposed Whabouchi Mine and Shawinigan Plant project.
Cameo’s Whabouchi Regional Lithium (“WRL”) Project in Quebec covers more than 19,000 ha in two blocks on either side of Nemaska’s proposed Whabouchi lithium mine including Cameo’s 4,484 ha Montagne Lake Property immediately to the west of Nemaska’s proposed Whabouchi lithium mine, and the Dumont Property 6 km to the east.
As reported by Nemaska Lithium (news release dated April 20, 2018) the financing transactions contemplated by the aforementioned Bond Offering, the Streaming Agreement, the SoftBank private placement and the Equity Offerings are intended to provide a comprehensive project-financing package for the proposed Whabouchi mine and the Shawinigan plant. Closing of these financing transactions and the release of funds thereunder will be subject to, among other things, the successful marketing and closing of the Bond Offering and Equity Offerings and the execution of definitive agreements in connection therewith, and the receipt of regulatory approvals (including approval of the TSX). Each such financing transaction will be conditional on the completion of one another.
Although Nemaska Lithium’s proposed mine at Whabouchi is proximal to Cameo’s WRL Project, the spodumene lithium mineralization on Nemaska’s ground is not necessarily indicative of similar mineralization on Cameo’s property and Cameo’s qualified person is unable to independently verify the information reported by Nemaska Lithium Inc.
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 presentation of technical information in this news release.
CAMEO RESOURCES CORP.
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.