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CABO TO DRILL FOR NEWSTRIKE

North Vancouver, BC – Cabo Mining Enterprises Corp. (“Cabo” or the “Company”) (TSX-V: CBE) announces that Newstrike Resources Ltd., (“Newstrike”) of Toronto, Ontario, has awarded Cabo subsidiary Heath & Sherwood Drilling (1986) Inc. (“Heath & Sherwood”) a minimum 5,000 foot drilling contract to drill Newstrike’s Holmes Township property located east of Matachewan, Ontario.

Newstrike’s Holmes Township property has good road access and Heath & Sherwood will mobilize a BBS-56 drill rig to complete the holes which will vary in depth from 800 to 2000 feet. The project calls for NQ diameter core.

Cabo Mining Enterprises Corp. 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 Inc. of St. John’s, Newfoundland; Forages Cabo Inc. of Montréal, 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 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: 09/29/2005