Cabo Drilling Corp.

Cabo Drilling Corp.

November 19, 2007 09:00 ET

Cabo to Drill 5,000 Meters for Tagish Lake Gold at Skukum Creek

NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 19, 2007) - Cabo Drilling Corp., (TSX VENTURE:CBE) ("Cabo" or the "Company") Pacific Division, has been awarded a 5,000-meter drill contract by Tagish Lake Gold Corp. for diamond drilling underground on its Skukum Creek property.

The program will focus on diamond drilling the upward and downward extensions of the Rainbow Two and Berg zones. In addition to increasing the resource in these zones, the objective of the program is to provide information on the extensions of these zones to facilitate mine planning. The program will also test the Rainbow Three zone where sampling in the drift on the 1300m level has shown significant gold and silver values in this new zone. (See Tagish Lake Gold's News Release dated November 1, 2007).

Cabo has mobilized a tractor mounted coring drill to the project and has commenced the drilling program, from the exploration cross-cuts driven on the 1,300 m level this year.

About Tagish Lake Gold Corp.

Tagish Lake Gold Corp. explores for and develops high-grade gold-silver mineral deposits in the Yukon Territory of Canada. The Company is current focused on its wholly owned, 178 Km2 Skukum Mineral District located 80 km by road south of Whitehorse. The Skukum Mineral District hosts the Skukum Creek gold-silver deposit and the Goddell Gully gold deposit, and has a currently defined measured plus indicated resource of 1,420,000 tonnes grading 6.8 g/t Au and 131 g/t Ag (MineTech International Ltd. 2007 Update), and the Mt. Skukum gold deposit.

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.


John A. Versfelt, Chairman, President and CEO

Further information about the Company can be found on the Cabo website ( and SEDAR (

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.
    Ms. Sheri Barton
    Investor Relations
    (403) 217-5830
    Cabo Drilling Corp.
    Mr. John A. Versfelt
    Chairman, President & CEO
    (604) 984-8894
    (604) 983-8056 (FAX)