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Rainy
Lake Tribal Contracting Ltd. and Cabo Drilling (Ontario) Corp.
Awarded Drill Contract by Brett Resources Inc.
North Vancouver, BC - Cabo
Drilling Corp. (TSX-V: CBE)
("Cabo" or the "Company") announces that Brett
Resources has awarded Rainy Lake Tribal Contracting Ltd. and joint
venture partner Cabo Drilling (Ontario) Corp. a drilling contract for a
minimum of 30,000 meters on the Hammond Reef Gold Deposit, near
Atikokan Ontario, Canada. The Brett Resources flagship project is
located in the Sawbill Bay- Marmion Reservoir area approximately 170
kilometers west of Thunder Bay, Ontario, and roughly 23 kilometers northeast
of the town of Atikokan, Ontario.
Through collaborative efforts Rainy
Lake Tribal Contracting Ltd. and Cabo Drilling (Ontario) Corp. formed a
joint venture to bring the First Nation's communities into the drilling
services industry, thereby providing First Nation members and local
residents professional training, employment and economic opportunities.
"The Cabo Drilling Corp. joint
venture is a prime example of our efforts to partner with private
businesses to develop new revenue streams for the First Nation
communities", states Economic Development Corporation advisor Tony
Marinaro. "Our goal is to develop mutually beneficial and
sustainable business relationships that will open up economic and
employment opportunities for the Fort Frances area First Nation
communities."
Cabo Ontario Division Manager, Blaine
Pullen, states," The Hammond Reef drilling project is an excellent
pilot project for our First Nation joint venture to demonstrate our
ability and commitment to produce the most highly trained, safety
motivated quality drilling services in the industry."
About Brett Resources Inc. Brett Resources Inc.'s primary objective is
the recognition, acquisition and development of quality precious metal
resources. Brett has assembled a portfolio of precious and base metal
projects in the Americas. Brett is presently focused on expanding gold
resources at its Hammond Reef Gold Deposit, near Atikokan, Ontario. www.brettresources.ca
About Rainy Lake Tribal Contracting,
Ltd. Rainy Lake Tribal
Contracting, Ltd. is a wholly owned aboriginal general contracting
company specializing in road construction, site development, forestry,
transportation, sand gravel and aggregates as well as diamond core
drilling in the mining sector. www.rainylaketribalcontracting.ca
About Cabo Drilling Corp. 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, Mexico; Cabo Drilling
(Panama) Corp. of Panama, Republic of Panama; Cabo Drilling Spain S.L.
of Sevilla, Spain; Balkan States Drilling SH.P.K. of Tirana, Albania;
and Cabo Drilling (International) Inc. The Company's common shares
trade on the Frankfurt Exchange under the symbol: DHL and on the TSX
Venture Exchange under the symbol: CBE. www.cabo.ca
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 Sheri Barton, Corporate Communications at 403-217-5830 or
Mr. John A. Versfelt, Chairman, President & CEO of the Company at
604-984-8894. For general investor relation inquiries you may also
contact Renmark Financial Communications Inc. Barbara Komorowski: bkomorowski@renmarkfinancial.com
or Dan Symons: dsymons@renmarkfinancial.com
at Tel: 514-939-3989 or 416-644-2020.
* * * *
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.
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