For Immediate Release June 20, 2012
North Vancouver, BC Cabo Drilling Corp. (TSX-V: CBE) (“Cabo” or the “Company”) and Nunacor
announce the signing of an Alliance Agreement whereby the parties will work together to seek out
opportunities with exploration and mining companies within the Labrador region. Nunacor is the
development corporation subsidiary of NunatuKavut Community Council (“NCC”), and is responsible for
economic and business development of the NCC.
The Alliance Agreement will facilitate the provision of exclusive drilling contract services by Cabo to the
mining companies with which Nunacor and NCC have cooperation agreements, and with customers and
business partners of Nunacor and NCC within the NuntauKavut territory. The NuntauKavut Territory is
the territory of the southern Inuit people of Labrador Canada and is located in south central Labrador as
far west as the Labrador Trough.
Nunacor and Cabo will carry out their best efforts to provide training and employment opportunities for
the members of NCC, thereby encouraging and assisting with the development and growth of Inuit and
Nunacor privately owned businesses. In addition, Cabo will work to maximize the employment of
available and qualified NCC members, with the objective of advancing NCC members to increasingly
responsible positions in accordance with their qualifications and capabilities.
Working within an alliance with Cabo will enable Nunacor to develop capacity and skill sets within the
exploration and mining sectors and will enable Cabo to more visibly market its drilling services within
the NuntauKavut territory. Furthermore, the alliance is providing Nunacor, NCC and Cabo with revenue
generating and growth opportunities.
“We are very excited to enter into this business relationship with Nunacor,” stated John A. Versfelt,
President & CEO of Cabo Drilling Corp. “This kind of relationship provides benefits to local
communities and businesses as well as corporations and is truly a win-win situation. We look forward to
working closely with Nunacor and NCC, so as to and develop and maintain strong and rewarding
relationships within the NuntauKavut territory.”
“We are so pleased to join with Cabo to increase our business capacity and development opportunities
within our territory,” says Todd Russell, President of NunatuKavut Community Council and Director of
Nunacor. “Our people and communities have and want to contribute to good developments on our lands.
This agreement provides an opportunity to do just that. Cabo is a very reputable company in the industry
and has a strong track record of working with aboriginal groups. This type of partnership is built on
mutual respect and benefit.
About Nunacor
Nunacor is the development corporation subsidiary of NunatuKavut Community Council (“NCC”), and is
responsible for the economic and business development of the NCC. The corporation was established in
2003 by the Labrador Metis Nation (now NunatuKavut). Nunacor offers expertise, stability, reliability
and accountability through its many business partnerships. For more information, visit the Nunacor
website (www.nunacor.com).
About NunatuKavut Community Council.
The NunatuKavut Community Council is a registered, not-for-profit organization that represents the
Southern Inuit of Labrador. It was established in the late 1970s, originally as the Labrador Metis
Association, and later the Labrador Metis Nation. It represents a population of more than 6,000 members
that reside in all areas of Labrador, and throughout Canada.
About Cabo Drilling Corp. (TSX-V: CBE)
Cabo Drilling Corp. is a drilling services company headquartered in North Vancouver, British Columbia,
Canada. The Company provides mining specialty drilling services through its Canadian divisions in
Surrey, British Columbia; Montréal, 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. Further information about the
company can be found on the Cabo website (http://www.cabo.ca) and SEDAR (www.sedar.com).
Media Contacts:
Sheri Barton
Corporate Communications
Cabo Drilling Corp.
604-984-8894 or 403-217-5830
[email protected]
Tara McLean
Executive Assistant to the President
NunatuKavut Community Council
(709) 896-0592 ext. 225
[email protected]
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