You need to remove the old thermal paste, clean the CPU and heatsink surfaces and put in some new paste. You also need to check if the cooler assembly fits snugh over the CPU, and that nothing is lose or broken in the cooler bracket. Also make sure the cooler fan is running at normal speed. Every component in the CPU cooler is as important as the thermal paste; if anything is not as it should it will not do the job and the CPU can overheat in much less than 30-40 seconds.
You have a 775 socket system and if you have not serviced the cooler assembly it's probably way overdue for some attention.