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Cabo appoints J.W. Brad Bond to the Board of Directors

Vancouver, BC – Cabo Mining Enterprises Corp. (“Cabo” or the “Company”) announces the appointment of J.W. Brad Bond to Cabo’s Board of Directors and Bob Lundgren to Advisor to the Board. Both men have extensive experience managing companies committed to strong growth. Mr. Bond will serve as an Independent Director and will chair the Audit Committee. It is anticipated that Mr. Lundgren will be nominated for election to the Company’s Board of Directors at Cabo’s upcoming annual general meeting, but in the meantime he will act as Advisor to the Board.
 
“The additions of Brad and Bob help to strengthen Cabo’s Board as we continue our steady expansion. Their backgrounds and demonstrated success in leading companies during sustained periods of growth will make them valuable members of the Cabo team during this exciting time for our Company,” said Cabo CEO John Versfelt.

Mr. Bond, 56, is the President of Barrier Management, Inc. a private consulting firm that works with growing companies to enhance their long-term value. He is also President of the Hartman Group Canada, a research firm in the health and wellness sector. During his tenure as Chief Executive Officer of Pharmasave Drugs (National) Ltd., the number of franchises across the country nearly doubled and system-wide sales tripled, edging $1 billion.

Mr. Bond also served as Vice-President of Shato Holdings Ltd, President of Keg Restaurants Ltd and was a General Manager of RoyNat Inc. Brad Bond’s board experience includes being the past Chairman of Rx Canada and past Director of the Insurance Corporation of British Columbia. He is currently a Director of the Fraser Health Authority.

Bob Lundgren, 60 is a businessman and Chartered Accountant. He has served as Senior Vice-President, Chief Financial Officer of The Loewen Group Inc., a Canadian public company, from 1985 to 1993. Mr. Lundgren joined The Loewen Group again from late 1998 to 1999 as President to assist in the company’s reorganization. Mr. Lundgren served as a Director of The Loewen Group from 1985 through 1999 and has also served on the boards of numerous charitable organizations.

Cabo also announces today the resignation of current board member Julio Benedetti. Mr. Benedetti has been a valued member of Cabo’s board and will continue as a director of Cabo’s U.S. subsidiary, Cabo Explorations Inc.

Cabo is a drilling services and mineral exploration company headquartered in Vancouver, British Columbia, Canada. The Company provides drilling services through its subsidiaries Heath & Sherwood Drilling (1986) Inc. of Kirkland Lake, Ontario and Petro Drilling Company Limited of Springdale, Newfoundland. 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: 09/21/2004