NEW & EXTENDED CONTRACTS FOR CABO DRILLING IN MEXICO
North Vancouver, BC - December 20, 2007 - Cabo Drilling
Corp. (TSX-V: CBE) (“Cabo” or the “Company”)
Mexico division, Cabo Drilling de Mexico S.A. de C.V., has been awarded
contracts to complete an approximate 7,000 meters of core drilling in
Mexico.
The Company has
commenced a 4,000 meters minimum, drill program for High Desert Gold Corp.
(TSX: HDG) at High Desert’s flagship Mexican gold property,
Canasta Dorada, located in the Sonoran Gold Belt in Mexico. The
drilling is part of a planned 40-hole drill program. The Company is
utilizing a BBS-37 conventional drill for this job.
In addition,
SilverCrest Mines Inc. (TSX: SVL) has added 2,000 to 3,000 meters of
drilling to its existing 4,000 meter contract with the Company
extending its Santa Elena Project drilling program into 2008. The Santa
Elena Project is located approximately 150 kilometers northeast of
Hermosillo, Sonora, Mexico.
Mexico is growing
increasingly attractive for mining and exploration, not only because of
its political and financial stability, but also because the Mexico
Geological Survey continues to improve the country's geological
knowledge base and accessibility to it. In addition, updated mining
regulations have completely opened the mining sector to foreign and
domestic investment.
The Company
continues to focus its efforts in Mexico where these favourable
exploration and mining conditions exist, as well as improved
opportunities to drill all year round, minimizing shut down costs, due
to weather conditions.
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.
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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