Cabo Drilling Corp.
TSX VENTURE : CBE

Cabo Drilling Corp.

August 08, 2005 08:30 ET

Cabo Signs Contract to Drill Plato Gold Corp. Properties

NORTH VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 8, 2005) - Cabo Mining Enterprises Corp. ("Cabo" or the "Company") (TSX VENTURE:CBE) announces that its subsidiary Heath & Sherwood Drilling (1986) Inc. has signed a contract to drill Plato Gold Corp. ("Plato") properties in Ontario.

The drilling contract calls for 5000 metres of casing and NQ coring on Plato's properties in Guibord and Marriott Townships located east of Matheson, Ontario near Highway 101. This is an active exploration area with many senior, intermediate, and junior companies carrying out exploration programs. Plato Gold's drilling program will test IP anomalies identified during their IP programs carried out since 1997. Cabo is a leading drill contractor with both domestic and international experience.

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 (ww.sedar.com) or by contacting the below.

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

Contact Information

  • Cabo Mining Enterprises Corp.
    Ms. Sheri Barton
    Investor Relations
    (403) 217-5830
    or
    Cabo Mining Enterprises Corp.
    Mr. John A. Versfelt
    Chairman, President & CEO of the Company
    (604) 984-8894
    (604) 983-8056 (FAX)
    Email: cabo@cabo.ca
    Website: www.cabo.ca