CBE Cabo Drilling Corp

Cabo Drilling Corp. (TSX VENTURE:CBE)(FRANKFURT:DHL) ("Cabo" or the "Company")
announces that it's Eastern European branch, located in Tirana, Albania, has
commenced drilling a contract with a minimum of 1,000 meters at the Albanian
Bulqiza Chromite Project, owned by the Empire Mining Corporation of Canada.


The project is located in Northeast Albania, about 40 km from the capital, and
within the Bulqiza-Batra Licence, 5 km southeast of the orebody hosting the
Bulqiza and Batra mines.


Cabo's Albania General Manager Terry Aimone states, "We are pleased to commence
with this confirmation phase of drilling at the Thekna Gallery. We believe our
expertise, ingenuity, and ability to customize equipment will prove to be a
significant asset to both the Thekna Gallery development team and the drilling
program. This is another step forward toward our goal of becoming well
recognized as one of the foremost, securely established, safety first and
dependable drilling contractors anywhere in Europe."


The Company has deployed an Atlas Copco U-6 electric diamond drill to perform
the multiple 300 meter deep core holes.


About Empire Mining Corporation 

Empire Mining Corporation is focused on value-added opportunities with the
principal projects located in the most historically productive areas of Albania
and Turkey.


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; Montreal, Quebec; Kirkland Lake, Ontario; and Springdale,
Newfoundland; as well as Cabo Drilling (Nevada) Inc. of the United States; Cabo
Drilling (Panama) Corp. of Panama, Republic of Panama; Cabo Drilling
Panama-Pacifico Corp. of Panama, Republic of Panama doing business as Cabo
Drilling Colombia Corp.; 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.


ON BEHALF OF THE BOARD

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).


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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