CBE Cabo Drilling Corp

Cabo Drilling Corp. (TSX VENTURE:CBE)(FRANKFURT:DHL) ("Cabo" or the "Company")
announces that MAN Alaska LLC has awarded Cabo Drilling (Pacific) Corp. a
drilling contract for a minimum of 3,800 meters, in South Central Alaska. The
project is being directed by Nevada Star Resource- Corp. (U.S.), a subsidiary of
Pure Nickel Inc.


The Company used a B2 helicopter to mobilize a S-2 fly drill to the project
location. Upon set-up of the drill Cabo will commence drilling multiple holes of
NQ2 at various elevations. The S-2 fly drills are designed to be easily
transported by helicopter and are versatile and maneuverable for remote multiple
hole drilling. 


Bill Higgins, Cabo Pacific division General Manager states, "Cabo Drilling
believes that flexibility is one of the keys to success throughout North
America. Our ability to access exploration projects with highly maneuverable
drills provides us with the opportunity to work with exploration and mining
companies wherever their projects are located. We offer a full range of diamond
core drilling services using man portable and helicopter fly drills to access
remote sites, small electric and hydraulic underground drills for mine expansion
drilling, or large skid and track mounted drills for deep hole drilling."


Cabo's "safety first" culture has gained Cabo numerous industry awards and
recognition for operating with safe work practices.


About Nevada Star Resource Corp. (U.S.)

Nevada Star Resource Corp. (U.S.) is a subsidiary of Pure Nickel Inc. (TSX:NIC),
a North American exploration and development company with a premium portfolio of
properties. 


About Cabo Drilling Corp. (TSX VENTURE: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 (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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