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PRESIDENT S UPDATE

Vancouver, BC - Cabo Mining Enterprises Corp. (“Cabo” or the “Company”) (TSX-V:CBE) today announces that as part of its ongoing Investor Relations Program to establish closer ties with its shareholders; it will be providing a President’s update on the Company’s website www.cabo.ca.

The purpose of this update is to increase awareness of the Company’s activities in general and to give shareholders and interested parties clear concise information. The Company anticipates that it will produce quarterly updates.

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 and Stratacan (Quebec) Inc. of St. Julie, Quebec. Cabo is also anticipating the closing of the acquisition of the Advanced Drilling Group of Companies (Surrey, British Columbia) by January 31, 2005. The Company’s mineral exploration properties
are located near Cobalt, Kenora, and Sudbury, Ontario, Canada. Its common shares trade on the TSX Venture Exchange under the symbol: CBE.

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: 01/27/2005