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

Capella Resources Ltd.

July 17, 2009 09:00 ET

Capella Receives Funds From Exercise of Warrants

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 17, 2009) - CAPELLA RESOURCES LTD. (TSX VENTURE:KPS)(PINK SHEETS:CPSJF) ("Capella" or the "Company") announces that the Company has received a total of $559,089.15 for exercise of warrants issued under the private placement of 12,933,330 units that closed on March 20, 2009 (the "Offering").

All Shares issued on the exercise of warrants issued under the Offering have a hold period expiring July 21, 2009. The proceeds from the exercise of warrants will be used for general corporate working capital and to fund the development of the Company's Lajitas and Nevada gold-copper properties located in the Maricunga Gold and Copper District and approximately 700 kilometres northwest of Santiago, Chile.

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 over 24,750 mineral exploration claims covering an aggregate land area of over 1.04 million acres (422,800 hectares) in Atlantic Canada (Nova Scotia, New Brunswick and Newfoundland and Labrador).

CAPELLA RESOURCES LTD.

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

FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: results of exploration activities and development of mineral properties, fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing, currency fluctuations, general market and industry conditions and other risks disclosed in the Company's filings with Canadian Securities Regulators.

Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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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