CABO TO DRILL UP TO 6,000 METERS FOR MINERA PETAQUILLA S.A.
North Vancouver, BC - March 10, 2008 - Cabo Drilling Corp.
(TSX-V: CBE) (“Cabo” or the “Company”) Panama
division has entered into a contract with Minera Petaquilla, S.A. to
drill a minimum of 6,000 meters on their copper project in the District
of Donoso in Colon Province in the Republic of Panama. Minera
Petaquilla, S.A. is a Panamanian company that holds the Petaquilla
copper concession.
Petaquilla Copper Ltd. currently holds a 52% equity interest in
Minera Petaquilla, S.A. and Inmet Mining Corps holds the remaining 48%
equity interest. Teck Cominco has an option to earn 50% of Petaquilla
Copper's interest in Minera Petaquilla, providing Teck Cominco funds
all of Petaquilla's share of the cost of bringing the project to
production.
The Company will utilize two helicopter support Longyear Model 38
diamond drills on the project. The drills have been mobilized to the
site and drilling has commenced.
About Inmet Mining
Corporation (TSX: IMN)
Inmet is a Canadian-based global mining company that produces copper,
zinc and gold. They have interests in four mining operations in
locations around the world: Cayeli, Pyhasalmi, Troilus and Ok Tedi.
About Teck Cominco Limited
(TSX: TCK.A and TCK.B - NYSE: TCK)
Teck Cominco is a diversified mining company, headquartered in
Vancouver, Canada. Its shares are listed on the Toronto Stock Exchange.
The Company is a world leader in the production of zinc and
metallurgical coal and is also a significant producer of copper, gold,
indium and other specialty metals.
About Petaquilla Copper
Ltd. (TSX: PTC))
Petaquilla Copper Ltd. is a mineral exploration company headquartered
in Vancouver, Canada. Its shares are listed on the Toronto Stock
Exchange under the symbol PTC. The Company holds 52% of Minera
Petaquilla, S.A., a joint venture company developing a world class
copper deposit in the Republic of Panama. Petaquilla Copper also owns
49% of the issued shares of Petaquilla Infrastructure Ltd., a company
incorporated to manage and expedite the development of the power, port
and related infrastructure in support of the Molejon Gold Mine of
Petaquilla Minerals Ltd.
About Teck Cominco Limited
(TSX: TCK.A and TCK.B - NYSE: TCK)
Teck Cominco is a diversified mining company, headquartered in
Vancouver, Canada. Its shares are listed on the Toronto Stock Exchange.
The Company is a world leader in the production of zinc and
metallurgical coal and is also a significant producer of copper, gold,
indium and other specialty metals.
About Cabo Drilling Corp.
(TSX-V: 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; Montr�al, 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”
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) or by contacting Investor Relations Ms. Sheri
Barton at 403-217-5830 or Mr. John A. Versfelt, Chairman, President
& CEO of the Company at 604-984-8894.
The TSX Venture Exchange does not
accept responsibility for the adequacy or accuracy of this
release. 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.-
CONTACT:
John A. Versfelt, Chairman,
President and CEO web site: www.cabo.ca
Telephone: (604) 984-8894
Facsimile: (604) 983-8056
e-mail: ir@cabo.ca
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