The Giants led Collingwood all day at Spotless Stadium on Saturday until Josh Thomas' goal 23 minutes into the final term helped the Magpies steal an 11.9 (75) to 9.13 (67) victory.
There was undoubted disappointment in the GWS rooms afterwards, but also a steely acknowledgement that the third-year club is well and truly on its way.
Patton, who ruptured the ACL in his right knee for the second time last weekend against Melbourne, committed to a further two years on Friday, extending his contract until the end of 2017.
And Cameron said it indicated his club is moving in the right direction as it strives to climb the AFL ladder.
"It's fantastic," he said of Patton's new contract.
"The last month we've been talking with Jon and his management group and obviously there's disappointment with the injury last week.
"But to have him re-commit and for our club to re-commit just shows that we're here for the long-term.
"He's a 12, 15-year player for our footy club. He's going to be a premiership player for our footy club.
"For him to actually commit during the week was just outstanding and I'm rapt for him.
"He'll come out of this second reconstruction bigger and better and he's the sort of player down the line that will help us get over the line in these close games."
Pushed a little further on his premiership comment, Cameron joked: "I better (win one) or I won't be here."
But there was no laughing matter when he stated where his young side needed to improve to take the next step.
The Giants have won five games in 2014, having claimed just three victories over their first two years combined, but have fallen just short in a number of other matches this season.
Winnable games against clubs the calibre of Hawthorn, Essendon and now Collingwood ended with narrow GWS defeats and Cameron feels learning how to close out games is the next challenge for his group.
"We need to find a way to win those close games because we're going to be in a lot of them next year," he said.
"We're really bridging the gap, we're coming and we're coming fast.
"But for us as a young club, we need to find a way to win those close games.
"You can clearly see the boys are flat, but the supporters and our members and the people involved in our footy club can see the general
improvement.
"I see it, I think everyone else does, and they're disappointed to lose a game like that.
"But it's great to be involved in close games."
The Giants close out their third season with an away clash against the Western Bulldogs next Sunday.
Twitter: @AFL_JD