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CLOSING OF PRIVATE PLACEMENT, SHARES FOR DEBT SETTLEMENTS,GOLD PROPERTY ACQUISITION BONUS LOAN AND APPOINTMENTS OF OFFICERS

Further to Cabo Mining Enterprises Corp.’s (formerly “Cabo Mining Corp.”) (the
“Company”) News Release dated November 3, 2003, as part of the its reorganization, the Company is pleased to announce that the following transactions have closed and the securities have been distributed upon receipt of TSX Venture Exchange acceptance thereof: i) a non-brokered private placement totaling $250,000 for 1,250,000 postconsolidated units; ii) Shares for Debt Agreements totaling $340,000; iii) Bonus Shares issued for a loan in the amount of $41,750; and iv) the acquisition of 100% interest in the Electrum Lake Property.
The Company is also pleased to announce the appointment of Brigitte M. McArthur as Corporate Secretary of the Company and the appointment of Seymour Sears as Vice President, Exploration.ON BEHALF OF THE BOARD

“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 Mr. Garett Greene 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: 01/26/2004