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Cabo to Drill Superior Diamonds Inc. Ville Marie Project

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 reverse circulation drilling contract by Superior Diamonds Inc. of Sudbury, Ontario. The 20 hole plus drill program commenced on February 10th, 2006. The diamond exploration project is located in the Ville Marie area in the province of Quebec where other diamond bearing kimberlites have been discovered.

For this project Heath & Sherwood will use an environmentally friendly Acker long stroke drill mounted on a Flex Track Nodwell carrier. The drill rig is enclosed with a tower sock that creates a comfortable working environment. The sample cyclone is housed within the drill enclosure allowing the driller and the geologist to coordinate the production and collection of samples. The geologist logs the drill hole as it is being drilled and collects and bags chip samples that will be sent to Overburden Drilling Management’s lab in Ottawa for analysis. Overburden Drilling Management Limited of Ottawa is managing the project.

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 Exchange has not in any way passed upon the merits of this news 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: 02/12/2006