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Sale of mineral properties

NORTH VANCOUVER, B.C. – Cabo Mining Enterprises Corp. (TSX-V:CBE) (“Cabo” or the “Company”) today announced that the business concerning the approval of the sale of properties from Cabo to International Millennium Mining Corp. (the “Transaction”) detailed in the Company’s Information Circular, dated as at November 9, 2005, for the Company’s Annual and Special Shareholders Meeting to be held December 15, 2005 (the ‘Meeting”) will not be dealt with at the Meeting and will instead be dealt with at either an adjournment of the Meeting or a new special meeting to be called by the Company.

This item is being delayed to ensure that Shareholders have all necessary information required for them to make an informed decision before voting on the Transaction. It is anticipated that additional information regarding this Transaction will be mailed to Shareholders and posted on www.sedar.com within the next ten (10) days.

The balance of the Meeting business will be carried out at the time and place specified in the Meeting materials.

Cabo is a drilling services and mineral exploration company headquartered in North Vancouver, British Columbia, Canada. The Company provides drilling services through its subsidiaries Heath & Sherwood Drilling (1986) Inc. of Kirkland Lake, Ontario, Petro Drilling Company Limited of Springdale, Newfoundland, Stratacan (Quebec) Inc., of Montreal, Quebec, and Advanced Drilling Ltd. of Surrey, British Columbia. Cabo’s mineral exploration properties are located near Cobalt, Kenora, and Sudbury Ontario, Canada. The Company’s common shares trade on the TSX Venture Exchange under the symbol: CBE

ON BEHALF OF THE BOARD

(signed “John Versfelt”)

John A. Versfelt

Chairman, President and CEO

* * * *

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: 12/13/2005