CABO Drilling CORPORATE PRESENTATION

CABO Drilling 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.

Oct 29, 2013 2

CABO Drilling

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

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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.

Board of Directors

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CABO Drilling History

Acquired five drilling services companies in 2004 and 2005 Revenue bottomed in 2010 at $28.99 million 2012 revenues increased 36% from 2011 to a record of $58.95 million and exceeded 2008’s record revenue of $58.65 million 2013 revenue decreased 28% from 2012 to $42.53 million

100 Drill Rigs 300+ Employees C$23.72 Million Shareholders’ Equity

28.79 38.45

58.65

41.16 28.99

43.42

58.95

42.53

2006 2007 2008 2009 2010 2011 2012 2013

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CABO Drilling Corporate Overview

Key Highlights as at October 29, 2013

Insider Holdings

Share Price: $0.04 52 Week High/Low: $0.09 - $0.035 Shares Outstanding: 78,968,175 Fully Diluted: 85,478,175 Market Cap: $3,158,727

As at June 30, 2013 Working Capital: $13,454,104 Assets: $37,552,278 Liabilities: $13,833,263

Source: Stockwatch

October 29, 2012 – October 29, 2013

President & CEO 6.14% Directors & Management 4.21%

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CABO Drilling Global Presence & Diversified Commodity Exposure

63%

33%

4%

*As a percentage of FY’13 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.

59%

18%

18%

5%

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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CABO Drilling Key Drivers for Exploration

Key Drivers Current discovery rates are

not sustainable, as a general rule – to be sustainable the exploration industry need to find at least 2x as much as is mined

Low conversion rate for Resources to Reserves & Mine conversion rates are very low (not all discoveries turn into mines)

Lag time between discovery and development

Current, and more importantly, future demand for all metals

Sources: *SME, Capital IQ, Federal Reserve, IMF **MineEx Consulting based on data from ABS, NRCan, MLR (China), OECD and MEG SNL

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 2015EU

S$/o

z

8

$20.0+B in 2012

Exploration Expenditures: Global by Commodity**

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 9

CABO Drilling Drill Fleet

100 Total Drill Rigs

27 Conventional Surface

15 Deep Hole Surface

14 Helicopter Support

5 Man Portable

6 Reverse Circulation

27 Underground

6 Geotechnical

11%

17%

2%

70%

Reverse Circulation

Underground

Geotechnical

Surface

FY’13 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 10

CABO Drilling Operations

(CDN $000s except earnings per share) FY2010 FY2011 FY2012 FY2013

EBITDA per Share (Basic)(1) $ 0.03 $ 0.04 $ 0.08 $ 0.05

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

Cash from Operations(2) $ 1,057 $ 1,402 $ 3,348 $ 2,606

Gross Margin % Adjusted(3) 25.3 22.1 22.7 25.1 (1)Net Earnings before interest, tax, amortization, stock based compensation and other items (EBITDA) (2)Before changes in non-cash working capital items (3)Gross margin adjusted to exclude amortization

FY2008 FY2009 FY2010 FY2011 FY2012 FY2013

58.65 C$ millions

41.16

Revenue

28.99

43.42

58.95 42.53

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CABO Drilling Cash Management Focus

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

FY2009 FY2010 FY2011 FY2012 FY2013

4.59 5.74

8.14

12.72 13.54 C$ millions

Working Capital

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CABO Drilling Strong Balance Sheet

(CDN $000s)

June 30, 2013

Cash & cash equivalents $ 134 Current assets $ 22,488 Non-current assets $ 14,930 Total assets $ 37,552 Current liabilities (including current portion of long-term debt) $ 9,168 Long-term debt $ 4,316 Future income tax $ 349 Equity $ 23,719 Total equity and liabilities $ 37,552

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CABO Drilling 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

4th QTR 2013 Ended

June 30, 2013

Revenue $ 13,843 $ 9,161 $ 10,616 $ 8,914

EBITDA(1) as a % of gross revenue

13.2%

6.8%

10.1%

4.8%

EBITDA(1) per Share(2) $ 0.02 $ 0.01 $ 0.01 $ 0.01

Earnings (Loss) after Taxes $ 560 $ (435) $ 20 $ (710)

Earnings (Loss) per Share(2) $ 0.01 $ (0.01) $ 0.00 $ (0.01)

Cash from Operations(3) $ 1,354 $ 331 $ 458 $ 463

Gross Margin %(4) 26.0% 25.8% 25.7% 21.7%

(1) Net Earnings before interest, tax, amortization, stock based compensation and other items (EBITDA) (2) Per Share (Basic) (3) Before changes in non-cash working capital items (4) Gross margin adjusted to exclude amortization expense

June 30, 2013: Working Capital of $13.45 million Assets of $37.55 million Shareholders Equity $23.72 million

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CABO Drilling 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

2013 Achievements

Working capital increased to $13.45 million 59% of drills turning on gold projects Re-structured two Canadian operations to improve margins and profitability

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CABO Drilling 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, man-portable, directional, reverse circulation, geotechnical 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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CABO Drilling 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

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CABO Drilling 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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CABO Drilling 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 evaluating opportunities to acquire an

explosives and blasting services business Blasting services are 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 evaluating opportunities to provide

contract repair and maintenance services to the mining industry

European Expansion

Repair & Maintenance Services

Acquisition of Blasting Services Company

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CABO Drilling 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

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CABO Drilling Relative Size of Contract Drillers

Tier 1

Boart Longyear 1,035

Layne Christensen 750

Major Drilling 736

Tier 2

Foraco 308

Ausdrill 275

Energold Drilling 258

Orbit Garant 214

Cabo Drilling Corp. 100

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CABO Drilling 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

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CABO Drilling PROFESSIONALS TO THE CORE

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