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CABO TO DRILL 5,000 METERS FOR TAGISH LAKE GOLD AT
SKUKUM CREEK
North Vancouver, BC – November 19, 2007 - Cabo Drilling
Corp., (TSX-V: CBE) (“Cabo” or the “Company”) Pacific Division, has
been awarded a 5,000-meter drill contract by Tagish Lake Gold Corp. (TSX-V:TLG)
for diamond drilling underground on its Skukum Creek property.
The program will
focus on diamond drilling the upward and downward extensions of the
Rainbow Two and Berg zones. In addition to increasing the resource in
these zones, the objective of the program is to provide information on
the extensions of these zones to facilitate mine planning. The program
will also test the Rainbow Three zone where sampling in the drift on
the 1300m level has shown significant gold and silver values in this
new zone. (See Tagish Lake Gold’s News Release dated November 1, 2007).
Cabo has mobilized
a tractor mounted coring drill to the project and has commenced the
drilling program, from the exploration cross-cuts driven on the 1,300 m
level this year.
About Tagish Lake Gold Corp. (TSX-V:TLG)
Tagish Lake Gold Corp. explores for and develops high-grade gold-silver
mineral deposits in the Yukon Territory of Canada. The Company is
current focused on its wholly owned, 178 Km2 Skukum Mineral District
located 80 km by road south of Whitehorse. The Skukum Mineral District
hosts the Skukum Creek gold-silver deposit and the Goddell Gully gold
deposit, and has a currently defined measured plus indicated resource
of 1,420,000 tonnes grading 6.8 g/t Au and 131 g/t Ag (MineTech
International Ltd. 2007 Update), and the Mt. Skukum gold deposit.
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; Montréal, 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.-
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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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