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Armistice contracts Cabo Drilling for 2007 exploration

North Vancouver, BC – Cabo Drilling Corp. (TSX-V: CBE) (“Cabo” or the “Company”) announces that Armistice Resources Corp. has awarded Cabo’s Ontario division, Cabo Drilling (Ontario) Corp., (formerly Heath & Sherwood Drilling Inc.); a contract to drill the first 10,000 feet of a significant exploration program Armistice has planned for this year.

Armistice President and CEO, Todd J. Morgan stated, “We are pleased to be working with a local company that has a solid reputation like Heath and Sherwood Drilling.”

About Armistice Resources Corp. (TSX: AZ)
Armistice Resources Corp. is a Canadian exploration company that owns an advanced exploration underground gold project in North-eastern Ontario located on the prolific Larder lake break. The McGarry project consists of 34 contiguous patented mining claims and licenses of occupation totaling 484 hectares which adjoins the former producing Kerr Addison gold mine which produced in excess of 11 million ounces of gold. The project has been dewatered and the mining contractor is completing rehabilitation work at the site.

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, Sonora, Mexico; Cabo Drilling (Panama) Corp. of Panama, Republic of Panama; and Cabo Drilling Spain S.L. of Sevilla, Spain. The Company’s 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 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 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: 06/11/2007