Capella Resources Ltd.
TSX VENTURE : KPS
PINK SHEETS : CPSJF

Capella Resources Ltd.

June 16, 2010 09:00 ET

Capella Announces Non-Brokered Private Placement to Raise Up to $2,025,000

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 16, 2010) - CAPELLA RESOURCES LTD. (TSX VENTURE:KPS)(PINK SHEETS:CPSJF) ("Capella" or the "Company") is pleased to announce that it is proceeding with a non-brokered private placement of up to 20,000,000 units (the "Units") at a price of $0.1025 per Unit for total proceeds of up to $2,025,000 (the "Offering"). Each Unit will consist of one common share in the capital of the Company (a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of $0.135 per Common Share for a period of 24 months from the closing of the Offering.

The Units will be made available by way of private placement exemption to accredited investors (as such term is defined in National Instrument 45-106 – Prospectus and Registration Exemptions) in Canada and the Units may be offered in other jurisdictions where they can be issued on a private placement basis, exempt from any prospectus, registration or other similar requirements.

Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The Company may pay up to the maximum allowable finder's fee on the Offering in cash, Common Shares, Warrants or a combination of thereof.

The proceeds from the Offering will be used for general exploration expenditures and general working capital purposes.

About Capella Resources Ltd.

Capella Resources Ltd. is a publicly traded, junior exploration and mineral development company with a strong portfolio of precious and base metal projects in Chile, USA and Atlantic Canada. The Company has a 100% interest in the Lajitas and Nevada gold-copper properties located in the Maricunga Gold and Copper District and approximately 700 kilometres northwest of Santiago, Chile. The properties comprise ten exploration claims and six exploitation claims totalling a cumulative 3,500 hectares in area. The Company holds a 100% interest in the Tinton Gold Project located 15 kilometres west-northwest of the famous and historic Homestake Mine in the Black Hills at Lead, South Dakota. The Tinton property consists of 1,270 hectares contained in 157 unpatented mining claims.

The Company also holds 3,839 mineral exploration claims covering an aggregate land area of over 71,558 hectares in Atlantic Canada (Nova Scotia, New Brunswick and Newfoundland and Labrador).

CAPELLA RESOURCES LTD.

per:

Richard Bachman, President, Chief Executive Officer & Chief Geological Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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