CABO Drilling CORPORATE PRESENTATION

CABO Drilling

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FORWARD LOOKING STATEMENTS

Certain information set forth in this presentation contains forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Such forward-looking information and statements are based on current expectations, estimates and projections about global and regional economic conditions as well as industries that are major markets for Cabo Drilling Corp. The Company does not guarantee that any of the forward looking statements will materialize and accordingly the reader is cautioned not to place reliance on these forward-looking statements.

CABO Drilling

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Serving the International Mining & Mineral Exploration Communities

FOCUSED ON DELIVERING THE BEST VALUE FOR ALL OF OUR CLIENTS IN NORTH AMERICA, CENTRAL AMERICA AND EUROPE

Cabo Division

Cabo Field Operation

CABO Drilling

John A. Versfelt, Chairman, President, Chief Executive Officer & Director Mr. Versfelt has over 31 years experience providing leadership, management consulting, chief financial office, administration

and paralegal/regulatory services to private and public companies. Serving in a variety of roles as a Managing Director, Chief Executive Officer and Chief Financial Officer for the Company over the last 21 years, he has been responsible for strategic planning, corporate development and finance, administration and accounting, and legal and regulatory compliance. Terry Aimone, BSc. P.Eng., General Manager, Europe Operations & Director Mr. Aimone started his career as a mining consulting engineer followed by 17 years in the U.S. banking sector, working in

mine project financing. He has extensive experience in the mineral drilling industry as the current General Manager, Europe Operations, the former General Manager, Mexico Operations and past managing director of Heath & Sherwood Drilling. He brings a strong mix of technical, financial and management expertise to the Company. Peter Freeman, Director Mr. Freeman has extensive experience in public markets, finance and compliance. His experience includes six years as

Director of Markets and Compliance at the OFEX Market (now PLUS). In 2005, he joined Loeb Aron & Co as a director and head of compliance and advisory services for their London, England, based, mining corporate finance house. Mr. Freeman has been a director of two public companies admitted to the AIM market (OFEX Holdings plc and Capital Lease Aviation plc). Tom Oliver, Director After a 25 year career in real estate development, primarily in the Vancouver, BC area, Mr. Oliver served as Business

Administrator for a national church organization for 5 years. He is currently the CEO of a number of private corporations and, in addition, acts as a consultant in financial administration and management. Robert W. Schellenberg, CPA, Director Mr. Schellenberg is a Certified Public Accountant, Vice President and owner of Schellenberg & Evers, P.C. in Grand Rapids,

Michigan. He has extensive experience in valuations, employee benefit plans, financial planning, individual and corporate taxation and litigation support, business planning, performance measures, mergers, acquisitions and arbitration.

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Board of Directors

CABO Drilling

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History

Acquired five drilling services companies in 2004 and 2005 Revenue bottomed in 2010 at $28.99 million and reached a record of $58.95 million in 2012 2011 revenues increased 50% from 2010 to $43.42 million 2012 revenues increased 36% from 2011 and exceeded 2008’s record revenue of $58.65 million

104 Drill Rigs 500+ Employees C$24.0 Million Shareholders’ Equity

28.79 38.45

58.65 41.16

28.99 43.42

58.95

2006 2007 2008 2009 2010 2011 2012

CABO Drilling

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Corporate Overview

Key Highlights as at May 31, 2013

Insider Holdings

Share Price: $0.05 52 Week High/Low: $0.115 - $0.04 Shares Outstanding: 78,968,175 Fully Diluted: 85,473,175 Market Cap: $3,948,409

As at March 31, 2013 Working Capital: $13,840,527 Assets: $39,333,546 Liabilities: $14,996,843

Source: Stockwatch

June 1, 2012 – May 31, 2013

President & CEO 5.97% Directors & Management 4.21%

CABO Drilling Global Presence & Diversified Commodity Exposure

69%

29%

2%

*As a percentage of FY’12 Revenue

Canada & US

Latin America

Europe

Kirkland Lake Gold Inc. Anglo American Exploration (Canada) Ltd. Osisko Mining Corporation Century Iron Ore Mining Corp. New Gold Inc.

60% 15%

11%

14%

Gold Copper

Iron Other Base Metals

Minera Panama SA (First Quantum) Cliffs Natural Resources Inc. Goldcorp Inc. Red Eagle Mining Corporation Capstone Mining Corp.

Cabo’s clients include:

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Metals Price Overview

The macro environment has positively impacted prices of precious metals in the past few years: Financial instability in EU Easy monetary and fiscal

policy globally Inflation uncertainty will

have an impact on gold prices

Base metal prices closely

correlated to industrial production Strong industrial production

figures and forecasts suggest strong base metals price performance in 2014

Source: SME, Capital IQ, Federal Reserve, IMF

52%

22%

11%

5% 10%

Gold Copper Iron Ore Nickel Others

Global inventories for key base metal are expected to decline in 2013

Global production for key

commodities are expected to increase in 2013

World Exploration Budgets by Commodity - 2011

Three-Year Avg. Trailing Gold Price

$406 $487

$582 $725

$848

$1,024

$1,258

$1,442

$1,634 $1,677 $1,700

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

2005 2006 2007 2008 2009 2010 2011 2012 2013E 2014E 2015E

US$

/oz

CABO Drilling Market Environment

Global mining exploration market was worth $22 BB in 2012 38% Y/Y increase over

2011 Well above 2008 peak

levels McKinsey forecasts a 5.6%

compounded annual growth rate (“CAGR”) in spending from 2013 to 2017, from $16 BB to $21 BB

High commodity prices

attracted significant risk capital for mining exploration and development activities in 2012, which was reduced significantly in 2013; however, 2014 could be a turnaround year like 2005

$3 $4

$6

$9

$12

$15

$9

$12

$16

$22

$16

$19 $17 $18

$21

$0

$5

$10

$15

$20

$25

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013e 2014e 2015e 2016e 2017e

US$

Bill

ion

Worldwide Exploration Budget 2003 – 2017E

4.9

15.5

25.6

16.4

44.7

33.4 31.3

28.3

$0

$5

$10

$15

$20

$25

$30

$35

$40

$45

$50

2005 2006 2007 2008 2009 2010 2011 2012

Tra

nsac

tion

Val

ue (U

S$B

B)

0.6

1.1

1.3

0.8

1.3

1.9

1.5

1.1

0

0.2

0.4

0.6

0.8

1

1.2

1.4

1.6

1.8

2005 2006 2007 2008 2009 2010 2011 2012

Num

ber

of E

quity

Issu

es (0

00's)

Source: SME, Capital IQ

CABO Drilling

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Drill Fleet

104 Total Drill Rigs

27 Conventional Surface

15 Deep Hole Surface

18 Helicopter Support

5 Man Portable

6 Reverse Circulation

27 Underground

6 Geotechnical

9%

15%

2% 76%

Reverse Circulation

Underground

Geotechnical

Surface

FYE’12 Revenue Mix

Drill Rig Age* 30.5%

4.2%

21.1%

17.9% 16.8%

9.5%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

< 10 10 < x < 15 15 < x < 20 20 < x < 25 25 < x < 30 > 30

*Does not take into account 70% of drills that have been rebuilt

CABO Drilling

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Operations

(CDN $000s except earnings per share) FY2009 FY2010 FY2011 FY2012

EBITDA per Share (Basic)* $ 0.08 $ 0.03 $ 0.04 $ 0.09

Earnings (Loss) per Share (Basic) $ (0.02) $ (0.03) $ (0.01) $ 0.02

Cash from Operations** $ 2,060 $ 1,057 $ 1,402 $ 3,722

Gross Margin % Adjusted*** 26.7 25.3 22.3 22.7 *Net Earnings before interest, tax, amortization, stock based compensation and other items (EBITDA) **Before changes in non-cash working capital items *** Gross margin adjusted to exclude amortization (Gross margin to date for fiscal 2013 (excluding amortization) is 25.8%)

FY2008 FY2009 FY2010 FY2011 FY2012 FY2013(Est)*

58.65 C$ millions

41.16

Revenue

28.99

43.42

58.95

43.50*

CABO Drilling

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Cash Management Focus

Capital expenditures are controlled Stable working capital Continuing to implement field cost control systems Secure new credit facilities for growth

FY2008 FY2009 FY2010 FY2011 FY2012

7.28 4.59 5.74

8.24

12.72 C$ millions

Working Capital

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Strong Balance Sheet

(CDN $000s)

March 31, 2013

Cash & cash equivalents $ 340 Current assets $ 23,399 Non-current assets $ 15,595 Total assets $ 39,334 Current liabilities (including current portion of long-term debt) $ 9,898 Long-term debt $ 4,695 Future income tax $ 404 Equity $ 24,337 Total equity and liabilities $ 39,334

CABO Drilling

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2013 Quarterly Results

(CDN $000s except earnings per share)

1st QTR 2013 Ended

Sep 30, 2012

2nd QTR 2013 Ended

Dec 31, 2012

3rd QTR 2013 Ended

March 31, 2013

Revenue $ 13,843 $ 9,161 $ 10,616

EBITDA as a % of gross revenue 13.2% 6.8% 10.1%

EBITDA per Share (Basic)* $ 0.02 $ 0.01 $ 0.01

Earnings after Taxes $ 560 $ (435) $ 20

Earnings per Share (Basic) $ 0.01 $ (0.01) $ 0.00

Cash from Operations** $ 1,354 $ 331 $ 458

Gross Margin %*** 26.0% 25.8% 25.7%

*Net Earnings before interest, tax, amortization, stock based compensation and other items (EBITDA) **Before changes in non-cash working capital items ***Gross margin adjusted to exclude amortization expense March 31, 2013:

Working Capital of $13.84 million Assets of $39.33 million Shareholders Equity $24.34 million

CABO Drilling

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Objectives and Achievements

Expand effective capacity per drill

Establish and maintain long term relationships with our clients Build and maintain a highly cost effective organization Retain skilled workers and enforce high safety standards Increase community training programs and expand community

relationships Enforce higher environmental standards 2012 Achievements

Increased overall revenue by 36% Increased international revenues by 93% 60% of drills turning on gold projects Strengthened the Company’s client base with long-term and multi-drill contracts Reorganized debt & improved balance sheet

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Prepared for Future Growth

Cabo Drilling is in a position to move forward despite the stressed global financial and economic environment

High capital expenditures in fiscal 2006-2008 and 2011 have positioned Cabo to respond to market changes in 2014

Offering a variety of drilling services – including deep hole, conventional surface, helicopter support and underground drilling. Cabo is equipped to provide drilling services to its customers in each of its global areas, regardless of location, terrain, geology, depth to target or environmental considerations

Cabo can “migrate” to meet market demands and needs and has the ability and expertise to shift equipment and personnel to match changing market conditions

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The Cabo Advantage

Raving Fans

Raving Fans is an initiative to deliver consistent high-quality services based on customers’ needs

Cabo is committed to building relationships with its customers – discovering how we can meet and exceed our customers’ requirements for each drill project

Human Resources

Employee Relations Strategies Retention Strategies Training! Training! Training! Tapping the International Talent Pool Health and Safety Plans Fitness for Work Program

Retaining qualified staff enables Cabo to provide the results its customers demand and deserve

CABO Drilling

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Key Differentiators: Safety and Community Support

Safety First Culture Cabo is committed to keeping safety front and

center through education, engineering and enforcement of best practices Cabo provides all employees with extensive

safety training prior to starting any job and follows up with weekly safety meetings Cabo’s comprehensive approach towards safety

and health on the job has resulted in a continued improvement in its safety performance

Cabo - Communities Cabo has entered into alliance agreements with a

number of Canadian aboriginal bands, which provides Cabo with significant competitive advantages in winning contracts with clients such as Goldcorp, First Quantum (Inmet), and Galway Cabo is committed to a culture of sensitivity and

responsibility to the aboriginal communities in which it operates Cabo facilitates aboriginal community

participation in its drilling programs, including: Hire local workers and provide training and

skills development opportunities Allocate available jobs throughout the

community and provide mentoring Provide assistance to clients in regard to local

customs and values Utilize local services and suppliers

0.00

5.00

10.00

15.00

20.00

25.00

2012201120102009200820072006200520042003

Freq

(Per

200

,000

man

-hou

rs)

Total Medical Aid Frequency Lost Time Injury Frequency

Injury Frequency

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Near-term Growth Opportunities

Expansion into Europe began in 2007 in Spain

and continued into Albania in 2008 Cabo is currently in negotiations with potential

clients in Portugal, Greece, Bulgaria, and Serbia Additional drill capacity may be required in

these regions in 2014

Cabo is in early discussions to acquire an

explosives and blasting services business Blasting services are highly complementary to

drilling services and would allow Cabo to diversify into road/bridge construction, commercial demolition and general contracting to smooth out the impact of economic cycles

Cabo is in discussions to acquire several small

drilling services companies in the USA, Ontario and certain Africa nations With the downturn in the mineral drilling

services sector, several accretive opportunities are available to create significant value

Cabo is evaluating opportunities to provide

contract repair and maintenance services to the mining industry

European Expansion

Acquisition of Drilling Operations

Acquisition of Blasting Services Company

Repair & Maintenance Services

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Mission Statement

To be the first choice for mineral exploration, mining & geotechnical customers by offering the best value in the drilling services industry

To partner with our clients and the community, fostering a culture of sensitivity and responsibility to the communities and environment in which we work.

To be the first choice among employees by offering the most stable, safe and rewarding workplace in the drilling services industry

To be the first choice for investors by consistently generating superior value and providing excellent corporate governance to shareholders and stakeholders

CABO Drilling

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Relative Size of Contract Drillers

Tier 1

Boart Longyear 1,200

Layne Christensen 750

Major Drilling 700

Tier 2

Foraco 308

Ausdrill / Bandrill 275

Energold Drilling 244

Orbit Garant 219

Cabo Drilling Corp. 104

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Summary

Expanding global market presence

Focused on long-term growth in the mineral drilling services sector through exposure to mid-tier and major mining and exploration companies

Revolutionary approach to customer service

Improved operational efficiencies

Increased capacity per drill

CABO Drilling

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PROFESSIONALS TO THE CORE