Drill baby drill?

On the workbench I have a Spitzer space satellite. One of the assemblies is a laminated series of card to about a 2-2.5mm thickness. I'm to drill two holes where indicated so that another assembly may pass through (sanding to final dimension).



How do you recommend I "drill" the holes? Literally shall I power up the black n decker? Or should I break out a specialty spade knife or use several pointed exacto blades and slowly work my way through?