Cabo Drilling Corp.
TSX VENTURE : CBE

Cabo Drilling Corp.

September 29, 2005 21:20 ET

Cabo To Drill For Newstrike

NORTH VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 29, 2005) - Cabo Mining Enterprises Corp. ("Cabo" or the "Company") (TSX VENTURE:CBE) announces that Newstrike Resources Ltd., ("Newstrike") of Toronto, Ontario, has awarded Cabo subsidiary Heath & Sherwood Drilling (1986) Inc. ("Heath & Sherwood") a minimum 5,000 foot drilling contract to drill Newstrike's Holmes Township property located east of Matachewan, Ontario.

Newstrike's Holmes Township property has good road access and Heath & Sherwood will mobilize a BBS-56 drill rig to complete the holes which will vary in depth from 800 to 2000 feet. The project calls for NQ diameter core.

Cabo Mining Enterprises Corp. is a drilling services company headquartered in North Vancouver, British Columbia, Canada. The Company provides services through its subsidiaries Advanced Drilling Ltd. of Surrey, British Columbia; Forages Cabo Inc. of Montreal, Quebec; Heath & Sherwood Drilling (1986) Inc., of Kirkland Lake, Ontario; and Petro Drilling Company Limited of Springdale, Newfoundland. 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 (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.
    Ms. Sheri Barton
    Investor Relations
    (403) 217-5830
    or
    Cabo Mining Enterprises Corp.
    John A. Versfelt
    Chairman, President and CEO
    (604) 984-8894
    (604) 983-8056 (FAX)
    Email: cabo@cabo.ca
    Website: www.cabo.ca