Cabo Drilling Corp.
TSX VENTURE : CBE

Cabo Drilling Corp.

March 20, 2008 08:00 ET

Cabo Awarded 4,000 Meter Surface Drill Contract by Solitaire Minerals Corp.

NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 20, 2008) - Cabo Drilling Corp. (TSX VENTURE:CBE) ("Cabo" or the "Company") announces that Solitaire Minerals Corp. has awarded a drill contract to the Company's Pacific Division, to complete a 4,000 meter diamond drilling program on Solitaire's Riou Lake Uranium Property, in the Athabasca Basin of Northern Saskatchewan.

The Company commenced diamond drilling on the property during the last week of February utilizing a Boyles 56 coring rig.

Solitaire Minerals has selected several high priority targets, based in part on the interpretation by Activation Laboratories Ltd (Actlabs) of Soil Gas Hydrocarbon (SGH) analyses collected from a grid of soil samples. The drill program will encompass a minimum of 4,000 meters with all drill holes to be collared in a highly altered fault zone on dry land south of Riou Lake and concentrated near the centre of the Soil Gas Hydrocarbon anomalies designated by Actlabs, in conjunction with other geochemistry from the area, as the Primary and Secondary Targets.

About Solitaire Minerals Corp.

Solitaire Minerals Corp. is a diversified junior Canadian mineral exploration company with a specific focus on mineral properties in North America. The Company has assembled a portfolio of precious and base metal exploration prospects in Ontario, Saskatchewan, Alberta, and the North West Territories.

About Cabo Drilling Corp. (TSX VENTURE:CBE)

Cabo Drilling Corp. is a drilling services company headquartered in North Vancouver, British Columbia, Canada. The Company provides mining related and specialty drilling services through its Canadian divisions in Surrey, British Columbia; Montreal, Quebec; Kirkland Lake, Ontario; and Springdale, Newfoundland; as well as Cabo Drilling de Mexico S.A. de C.V. of Hermosillo, Sonora, Mexico; Cabo Drilling (Panama) Corp. of Panama, Republic of Panama; and Cabo Drilling Spain S.L. of Sevilla, Spain. The Company's common shares trade on the TSX Venture Exchange under the symbol: CBE.

ON BEHALF OF THE BOARD

John A. Versfelt, Chairman, President and CEO

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, potential mineral recovery processes and other business transactions timing. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Cabo Drilling Corp.
    John A. Versfelt
    Chairman, President and CEO
    (604) 984-8894
    (604) 983-8056 (FAX)
    Email: ir@cabo.ca
    Website: www.cabo.ca