Cabo Drilling Corp.
TSX VENTURE : CBE

Cabo Drilling Corp.

August 14, 2007 09:00 ET

Cabo to Drill 7,000 Meters for Richview Resources Inc.

NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 14, 2007) - Cabo Drilling Corp.'s (TSX VENTURE:CBE) ("Cabo" or the "Company") Ontario division, Cabo Drilling (Ontario) Corp., has entered into a contract with Richview Resources Inc. (TSX:RVR) of Toronto, Ontario to drill 7,000 meters of NQ core on Richview's Thierry Mine property near Pickle Lake, Ontario.

Richview is undertaking the deep drilling program to confirm and validate dip strike continuity of known mineralization to the 3,000-foot level. Cabo will utilize a JKS Boyles BBS-56 diamond drill for the project.

About Richview Resources Inc. (TSX:RVR)

Richview is the sole owner of the past-producing Thierry Mine property in northwestern Ontario. The company is continuing exploration on gold joint venture projects at Pickle Lake (RVR 75%) and at Headway in the Red Lake camp (RVR 15%). Richview is a Canadian company committed to responsible development of natural resources while respecting local environment, community and social interests.

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.

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.
    Ms. Sheri Barton
    Investor Relations
    (403) 217-5830
    or
    Cabo Drilling Corp.
    Mr. John A. Versfelt
    Chairman, President & CEO
    (604) 984-8894
    Email: ir@cabo.ca
    Website: www.cabo.ca