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Cabo Announces Drilling Contract with Houston Lake Mining Inc.

North Vancouver, BC – Cabo Drilling Corp. (TSX-V: CBE) (“Cabo” or the “Company”) announces that its Heath & Sherwood Drilling Inc. division has been awarded a drilling contract by Houston Lake Mining Inc. of Val Caron, Ontario. The contract is for a minimum of 1,000 metres of diamond drilling on HoustonLake’s 100% owned 635.5 hectare West Cedartree Gold Project located near SiouxNarrows in western Ontario.

The drill program will test the southern and depth extensions of the Angel Hill Gold zone. Startup was during the last week of April 2006 and drills will operate seven days a week until the job is complete. The drill crew has mobilized from Kirkland Lake, Ontario and the camp is located at Sioux Narrows, Ontario.

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.

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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: 05/01/2006