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Cabo to Drill Underground at Jersey Emerald for Sultan Minerals Inc.

North Vancouver, BC – Cabo Drilling Corp.’s (TSX-V: CBE) (“Cabo” or the “Company”) Advanced Drilling Ltd. division has been awarded a contract to complete up to 14,000 feet of NQ-2 underground drilling at Sultan Minerals Inc.’s Jersey Emerald Property near Salmo, BC. The drill program is to commence in early February 2007.

The Jersey-Emerald property is host to the historic Jersey Lead-Zinc Mine, British Columbia's second largest lead-zinc producer and the former Emerald Tungsten Mine, Canada's second largest tungsten mine. Year round gravel roads and power lines cross the property and water is plentiful. Underground workings of the historic Jersey and Dodger deposits are in excellent condition allowing for future underground access with little rehabilitation.

About Sultan Minerals Inc.
Sultan Minerals Inc. is a gold, silver and base metals exploration company with a portfolio of mineral properties. Sultan Minerals’ exploration program will focus on an important new discovery made on its Jersey Emerald tungsten, molybdenum and lead-zinc prospect, located near the town of Salmo in southeastern British Columbia. Sultan Minerals Inc. trades on the TSX Venture Exchange under the symbol SUL, and is a member of the Lang Mining Group.

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 subsidiaries Advanced Drilling Ltd. of Surrey, British Columbia; Forages Cabo Inc. of Montréal, Quebec; Heath & Sherwood Drilling Inc., of Kirkland Lake, Ontario; and Petro Drilling Company Limited of Springdale, Newfoundland. The Company’s common shares trade on the TSX Venture Exchange under the symbol: CBE.

ON BEHALF OF THE BOARD

(signed “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.


Last Updated: 02/07/2007