NORTH VANCOUVER, May 16 /PRNewswire-FirstCall/ - Cabo Drilling Corp.,
(TSX-V: CBE) ("Cabo" or the "Company") Ontario Division, has signed a
drilling contract with International Millennium Mining Corp. (IMMC) for an
initial 2,500 meters of diamond drilling near the Waldman mine on IMMC's
Cobalt Area Property in Ontario. The purpose of the program is to test
several strong targets identified by a MMI (mobile metal ion) sampling
program completed over the Cobalt Area property. The Company commenced
drilling April 18, 2008.
The location of the drill holes for this initial program was determined
by anomalous MMI results occurring on a grid in Gillies Limit North
Township in close proximity to the Waldman Mine Shaft. The Waldman is one
of a number of former producers located on IMMC's property. Twelve former
mines contiguous to and within 3,000 meters to the east of the IMMC drill
project produced in excess of 100 million ounces of silver, along with
cobalt, copper, and nickel. The drilling program will also pursue base
metal sulphide type mineralization known to occur in the area.
About International Millennium Mining Corp. (TSX-V: IMI)
IMMC is a mineral exploration and development company engaged in the
acquisition and exploration of polymetallic mineral properties in Canada
and the Americas. To date, the Company has acquired and is exploring
mineral properties in British Columbia and Ontario, Canada; Nevada, USA;
and Sonora State, Mexico. Emerging mineral targets include silver, gold,
cobalt, molybdenum, zinc, lead, nickel, copper and platinum group 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; Montreal, 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 Frankfurt Exchange under the symbol:
DHL and 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 (http://www.sedar.com) or by contacting Investor
Relations Mr. Garret Greene 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, Telephone:
(604) 984-8894, Facsimile: (604) 983-8056, e-mail: ir@cabo.ca, web site:
http://www.cabo.ca
SOURCE Cabo Drilling Corp.
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CONTACT:
John A. Versfelt, Chairman, President and
CEO, Telephone: (604) 984-8894, Facsimile: (604) 983-8056,
e-mail: ir@cabo.ca, web site: http://www.cabo.ca
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