Cabo Drilling Corp.
TSX VENTURE : CBE
FRANKFURT : DHL

Cabo Drilling Corp.

May 02, 2011 09:01 ET

Cabo Drilling (Nevada) Corp. Awarded Drill Contract by Curis Resources Ltd.

NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 2, 2011) - Cabo Drilling Corp. (TSX VENTURE:CBE)(FRANKFURT:DHL) ("Cabo" or the "Company") announces that Cabo Drilling (Nevada) Corp. has been awarded a contract for two drill rigs and a minimum of 7,500 feet of drilling at Curis Resources Ltd.'s (TSX VENTURE:CUV) Florence Copper Project, located midway between Phoenix and Tucson and near to the community of Florence, Arizona.

Drilling services will be performed by Cabo personnel utilizing a CS14 Diamond Core Drill along with a Canterra 250 Reverse Circulation Drill.

Cabo offers a full range of drilling services including surface and underground coring, directional and reverse circulation drilling. The Company believes that its flexibility in working with its clients to create successful solutions that meet their drilling requirements will be one of the keys to success in the North American market.

John Versfelt, President and CEO of Cabo Drilling Corp. states, "We are more than pleased to advance our United States presence with the introduction of our drilling services at the Florence Copper Project. An important ingredient of our success is our ability to assist our customers in formulating and implementing efficient and cost effective solutions for their exploration and development drilling challenges."

Cabo's "safety first" culture has gained Cabo numerous industry awards and recognition for operating with safe work practices.

About Curis Resources Ltd.

Curis Resources Ltd. is a mineral exploration and development company, based in Vancouver, Canada and associated with Hunter Dickinson Inc. (HDI). Curis' corporate goal is to acquire and develop high-quality copper properties in progressive jurisdictions around the world, and to become a global leader in in-situ copper recovery (ISCR) production and production technologies. Curis Resources Ltd., 1500-1040 West Georgia St., Vancouver, British Columbia, Canada, V6E 4H8.

About Cabo Drilling Corp.

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; Montréal, Quebec; Kirkland Lake, Ontario; and Springdale, Newfoundland; as well as Cabo Drilling (Nevada) Inc. of the United States; Cabo Drilling (Panama) Corp. of Panama, Republic of Panama; Cabo Drilling Panama-Pacifico Corp. of Panama, Republic of Panama doing business as Cabo Drilling Colombia Corp.; Cabo Drilling Spain S.L. of Sevilla, Spain; Balkan States Drilling SH.P.K. of Tirana, Albania; and Cabo Drilling (International) Inc. The Company's common shares trade on the Frankfurt Exchange under the symbol: DHL and on the TSX Venture Exchange under the symbol: CBE.

ON BEHALF OF THE BOARD

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).

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.
    Sheri Barton
    Corporate Communications
    403-217-5830

    Cabo Drilling Corp.
    Mr. John A. Versfelt
    Chairman, President & CEO
    604-984-8894
    604-983-8056 (FAX)
    ir@cabo.ca
    www.cabo.ca

    For general investor relation inquiries:
    Renmark Financial Communications Inc.
    Barbara Komorowski
    514-939-3989
    bkomorowski@renmarkfinancial.com

    Renmark Financial Communications Inc.
    Dan Symons
    416-644-2020
    dsymons@renmarkfinancial.com