Cameo Neighbour Nemaska Lithium Announces Closing of $99 Million Subscription Receipt Financing With Softbank Group

VANCOUVER, British Columbia, April 25, 2018 (GLOBE NEWSWIRE) -- Cameo Resources Corp. (TSXV:CRU) (OTC:CRUUF) (FWB:SY7D) (the “Company” or “Cameo Resources”) is pleased to note that Nemaska Lithium Inc. has closed its previously announced private placement of 88,460,446 subscription receipts at a price of $1.12 per receipt for aggregate gross proceeds of $99,075,700, pursuant to the investment agreement entered into with SoftBank Group Corp. on April 5, 2018. Pursuant to the placement, upon conversion of the receipts, SoftBank will acquire up to 9.9% of Nemaska Lithium's common shares.

Cameo’s CEO, Akash Patel states, “This strategic investment by Softbank is powerful indication that the Whabouchi lithium deposit is of significant merit. Cameo is thrilled to commence Airborne Magnetic Survey on its neighboring WRL property.”

CAMEO RESOURCES CORP.
 “ Akash  Patel”                                
Akash Patel
President

For further information, please contact

Lucas Birdsall
778-549-6714
Email: akashp006@gmail.com
www.cameoresources.com

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.