Cabo Drilling Corp.
TSX VENTURE : CBE

Cabo Drilling Corp.

July 19, 2005 18:41 ET

Cabo Sub Moves Drill to Copper Ridge Yukon Olympic Property

NORTH VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 19, 2005) - Cabo Mining Enterprises Corp. (TSX VENTURE:CBE) ("Cabo" or the "Company") announces that its subsidiary Advanced Drilling Ltd. has been selected to provide additional drilling services to Copper Ridge Explorations Inc. ("Copper Ridge"). The Company has moved its drilling equipment from Copper Ridge's Lucky Joe Property, 40 kilometres south of Dawson City, where it has completed a 1,200 metre drill program, (see Cabo's July 7, 2005 announcement) to Copper Ridge's Yukon Olympic property where a minimum 600 metre core drill program has begun.

The target at Yukon Olympic is an iron oxide copper-gold deposit. The program will include three drill holes to test the Blackstone gravity target (see Copper Ridge's July 5, 2005 announcement). The Yukon Olympic property is located 130 km north-northeast of Dawson in the north central Yukon and is accessible either by road along the Dempster Highway or by helicopter from Dawson.

Cabo Mining Enterprises Corp. is a drilling services and mineral exploration company headquartered in North Vancouver, British Columbia, Canada. The Company provides drilling 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's mineral exploration properties are 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).

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