Cabo Exploration Ventures Appoints David R. Robinson as a Director.

VANCOUVER, British Columbia--(BUSINESS WIRE)--March 4, 1997-- Cabo Exploration Ven(VSE:CVE.) Cabo Exploration Ventures Inc. announces that it has appointed David R. Robinson as a director of the Company. Mr. Robinson is a geologist who has spent 11 years working in both the resource and investment business sectors. He recently was appointed director, President and C.E.O. of NASDAQ-listed Brimm Energy Corporation and prior to that appointment was an Executive Vice President of Arakis Energy Corporation for which he arranged U.S. $150 million in financings during 1996. Mr. Robinson has also, in the past, served as a director of VSE-listed Pinewood Resources Ltd. and NASDAQ-listed Delgratia Mining Corp.

In Cuba, exploration within the Trinidad Concession has focused predominantly on the geology of the Amphibolite Complex and its potential for gold, silver and copper. This complex wraps around, and may be folded against, the Escambray Metamorphic Complex for at least 15 kilometres and extends through the Retiro, San Juan and Las Cortinas prospects. Initial geochem and geophysical surveys have identified widespread gold, silver and copper mineralization within multiple vein systems and breccias coinciding with geophysical anomalies.

At the San Juan and Las Cortinas prospects a second phase significantly expanded geophysics program will begin in mid-March following up the recently completed successful first phase program. This next phase of the program will regard the San Juan-Las Cortinas as a continuous prospect with an overall strike length of approximately 9 kilometres.

Detailed chip sampling and geological mapping will continue in the San Juan area where assays of additional chip samples are comparable to those previously announced with over 50 percent of the samples grading better than 1.6 g/t Au and over 20 percent grading better than 11 g/t Au. Approximately 44 percent of the samples exceeded 0.40 percent Cu. The highest value sample contains 158 g/t Au, 106 g/t Ag and 4.31 percent Cu. The length of the San Juan main zone combined with the San Juan zones 1-3 is approximately 1.9 kms, open to the NW and SW.

Retiro and Las Cortinas prospects are similar in geology and mineralization to San Juan. At Retiro, copper and gold values as high as 1 percent Cu and 5 g/t Au have been observed in Amphibolite breccias, small carbonate veinlets and quartz veins over a mineralized zone that is at least 200 metres in strike length. I.P./resistivity anomalies in the southern Retiro grid indicate potential porphyry deposit characteristics. The Las Cortinas prospect shows a predominant amphibolite geology with several granitoid intrusions. Of particular interest is what appears to be a fault zone with multiple injections of very silicified material which contains fine disseminated pyrite and arsenopyrite with grains of gold. Mosca formation marbles sharing the same vein type pattern as the San Juan prospect also occur throughout Las Cortinas and grab samples have produced anomalous gold results up to 3 g/t.

Upon completion of the recently announced private placements, Cabo Exploration Ventures will have in excess of $2,000,000 to carry out its exploration programs in 1997, including an expanded drilling program which is now scheduled to begin mid-May. -0- ON BEHALF OF THE BOARD John A. Versfelt, Chief Financial Officer -0-

The Vancouver Stock Exchange has neither approved nor disapproved of the contents contained herein. Listed in Standard & Poor's.

CONTACT: Cabo Exploration Ventures Inc.

John A. Versfelt, 604/ 681-8899