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Cabo Drilling Corp. Awarded Drill Contract by Ber Alb Sh A

Cabo Drilling Corp. (TSX-V: CBE) (“Cabo” or the “Company”) announces that Ber Alb SH A, which is part of the Ekin Maden Group located in Istanbul, Turkey, has awarded Cabo Drilling Corp. – Albania Branch, located in Tirana, Albania, a drilling contract for a minimum of 4,000 meters.

The underground project is split between the Lac Rosh Mine and the Munella Mine, which are located in the northeastern Albania mountain region, within the administrative borders of Fush Arrez County in Puke Province.  Drilling will consist of 4,000 + meters of NQ/BQ drilling and will be divided between the two mines. Anticipated drilling depth of holes will range from 100 meters to a maximum length of 300 meters.

Cabo’s Albania General Manager Terry Aimone states, “We are pleased to join the Ber Alb team as the drilling services contractor at both of their Albania mines.  We look forward to bringing our excellent safety record to the well organized and modern Lac Rosh Mine and the excellent safety procedures established at the Munella Mine.  This is another step forward toward our goal of becoming well recognized as one of the foremost, securely established, safety first and dependable drilling contractors throughout Europe.”

About Ekin Maden group (Ber Alb Sh A)
Since its inception as a metal trading company in 1982, Ekin Maden has focused on the trade of non-iron metals and mineral concentrates of copper, zinc and lead. Ekin Maden also started to sell lump chrome ore, chrome concentrates and manganese ore in 2010.  

Nesko Metals is part of the Ekin Maden group, and is located at San.A.S., Buyukdere Cad. USO Center Kat:11 Maslak, Istanbul, Turkey.

About Cabo Drilling Corp.
Cabo Drilling Corp. is a drilling services company headquartered in North Vancouver, British Columbia, Canada.  The Company provides mining related and specialty drilling services through its Canadian divisions in Surrey, British Columbia; Montréal, Quebec; Kirkland Lake, Ontario; and Springdale, Newfoundland; as well as Cabo Drilling de Mexico S.A. de C.V. of Hermosillo, Mexico; Cabo Drilling (Panama) Corp. of Panama, Republic of Panama; Cabo Drilling Colombia Corp.; Cabo Drilling Spain S.L. of Sevilla, Spain; Balkan States Drilling SH.P.K. of Tirana, Albania; and Cabo Drilling (International) Inc.  The Company’s common shares trade on the Frankfurt Exchange under the symbol: DHL and 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 Sheri Barton, Corporate Communications at 403-217-5830 or Mr. John A. Versfelt, Chairman, President & CEO of the Company at 604-984-8894.  For general investor relation inquiries you may also contact Renmark Financial Communications Inc. Barbara Komorowski: bkomorowski@renmarkfinancial.com or Arash Shahi: ashahi@renmarkfinancial.com at Tel: 514-939-3989 or 416-644-2020.

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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: 09/02/2010