Cabo Drilling Corp.
TSX VENTURE : CBE

Cabo Drilling Corp.

July 11, 2005 08:45 ET

Cabo to Drill Duck Pond for Aur Resources

NORTH VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 11, 2005) - Cabo Mining Enterprises Corp. (TSX VENTURE: CBE) ("Cabo" or the "Company") announces that its subsidiary Petro Drilling Company Ltd., of Springdale, Newfoundland, has signed a contract to drill up to 7,000 metres for Aur Resources Inc. ("Aur Resources").

Aur Resources is a Canadian based international mining company active in the acquisition, exploration, development and mining of mineral deposits with a strong emphasis on copper. The work is to take place at Aur Resources' Duck Pond copper zinc deposit in central Newfoundland. In addition, Petro is to carry out the grout-sealing of approximately 90 previously drilled holes in the area. The work is currently underway and is expected to continue through September 2005.

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 (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 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