Cabo Drilling Corp.
TSX VENTURE : CBE

Cabo Drilling Corp.

September 08, 2005 16:40 ET

Cabo Awarded Drilling Contract from Altius Minerals Corporation and JNR Resources Inc.

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 8, 2005) - Cabo Mining Enterprises Corp. (TSX VENTURE:CBE) ("Cabo" or the "Company") announces that its subsidiary Petro Drilling Company ("Petro) has been awarded a drilling contract with Altius Minerals Corporation and JNR Resources Inc.

The awarded drilling contract is for 1000 metres of core drilling at Altius Minerals Corporation and JNR Resources Inc.'s Rocky Brook uranium property. (See Altius's press announcement of Aug. 17, 2005). The Rocky Brook property is approximately 11,000 hectares in size and covers the northeast margin of the Carboniferous Deer Lake Basin of western Newfoundland.

Due to the requirement to drill a large number of short holes, Petro has developed a highly mobile, track mounted drill rig, specifically for this project. Petro is the most experienced diamond drilling contracting firm in the province of Newfoundland and Labrador.

Cabo Mining Enterprises Corp. is a drilling services company headquartered in North Vancouver, British Columbia, Canada. The Company provides services through its subsidiaries Heath & Sherwood Drilling (1986) Inc., of Kirkland Lake, Ontario; Petro Drilling Company Limited of Springdale, Newfoundland; Stratacan Inc. of St. John's, Newfoundland; Forages Cabo Inc. of Montreal, Quebec; and Advanced Drilling Ltd. of Surrey, British Columbia. Cabo also holds interests in mineral exploration properties located near Cobalt, Kenora, and Sudbury, Ontario, Canada. The Company's common shares trade on the TSX Venture Exchange under the symbol: CBE.



ON BEHALF OF THE BOARD

(signed "John A .Versfelt")

John A. Versfelt
Chairman, President and CEO


Further information about the Company can be found on the Cabo website (http://www.cabo.ca) and SEDAR (www.sedar.com).

The Exchange has not in any way passed upon the merits of this news release. 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.

Contact Information

  • Cabo Mining Enterprises Corp.
    John A. Versfelt
    Chairman, President and CEO
    (604) 984-8894
    (604) 983-8056 (FAX)
    or
    Cabo Mining Enterprises Corp.
    Sheri Barton
    (403) 217-5830
    Email: cabo@cabo.ca
    Website: www.cabo.ca