Cabo Drilling Corp. Awarded Labour Contract at Canadian Zinc's Prairie Creek Minesite

Cabo Drilling Corp. (TSX VENTURE:CBE) ("Cabo" or the "Company") announces that
Cabo Drilling (Pacific) Corp. has been awarded a labour contract for shallow and
deep hole drilling at Canadian Zinc Corporation's Prairie Creek Minesite located
in the Northwest Territories, Canada. 


Under the terms of the contract, Cabo Drilling will provide drill crews and
supervision for 2 skid mounted diamond drill rigs on Canadian Zinc's fly-in
Prairie Creek property. Drilling on this project includes specialty drilling,
with depths of up to 1,900 m and multiple wedges. 


Cabo will work closely with Canadian Zinc to provide consultation and technical
assistance, with respect to drilling techniques and procedures, drilling
operations management, drill equipment requirements, safety and environmental
procedures and policies, down hole products and consumables and drilling
additives. 


"I believe this is a wonderful opportunity for Cabo to work together with the
very professional people of Canadian Zinc to further develop a significant
deposit," stated John Versfelt, Cabo's CEO and President, "we will be sharing
our knowledge and expertise to carry out a safe and environmentally prudent
drilling program, as well as become part of a training team focused on the
communities surrounding Canadian Zinc's Prairie Creek project. This is great!" 


Cabo Drilling offers drilling services to major, mid-tier and junior mining and
exploration companies and provides expertise in projects ranging from
early-stage reconnaissance drilling through to resource definition and advanced
stage mining.


About Canadian Zinc Corporation 

Canadian Zinc Corporation is a Toronto-listed exploration and development
company, trading under the symbol CZN on the Toronto Stock Exchange, under
"CZICF" on the Over the Counter, OTCQB in the US, and under the symbol "SRS" on
the Frankfurt Exchange. The company's primary project is the Prairie Creek Zinc,
Silver, Lead Mine in the Northwest Territories, Canada, with Measured and
Indicated Resources of 5,431,000 tonnes grading 10.8% zinc, 10.2% lead, 160 g/t
silver, 0.31% copper and Inferred Resources of 6,239,000 tonnes grading 14.5%
zinc, 11.5% lead, 229 g/t silver and 0.57% copper.


About Cabo Drilling Corp. (TSX VENTURE:CBE) 

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; Montreal, Quebec; Kirkland Lake, Ontario; and Springdale,
Newfoundland; as well as Cabo Drilling (Nevada) Inc. of the United States; Cabo
Drilling (Panama) Corp. of Panama, Republic of Panama; Cabo Drilling
Panama-Pacifico Corp. of Panama, Republic of Panama doing business as Cabo
Drilling Colombia Corp.; 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, 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)


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.