Coastport Capital Inc.

Coastport Capital Inc.

April 30, 2008 09:00 ET

Coastport and Cornerstone Declare Force Majeure in Ecuador

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 30, 2008) - Coastport Capital Inc. (TSX VENTURE:CPP)(FRANKFURT:C1J), reports that Cornerstone Capital Resources Inc. (TSX VENTURE:CGP), in consultation with the Company, has provided notice of force majeure on the Shyri Project. The Shyri property comprises 15 legally granted concessions in south-central Ecuador encompassing high potential gold prospects and environments. The event of force majeure results from the issuance of the mining mandate by the Constituent Assembly on April 18, 2008, which placed a moratorium on exploration and mineral development activities for up to 180 days.

The declaration of force majeure is a legal requirement under the terms of the Cornerstone - Coastport agreement in order to suspend exploration work and expenditures during the moratorium. The parties will continue to work together to understand the impact of the mining mandate on their plans for the Shyri Project. Cornerstone will continue to represent the interests of the parties in Ecuador and work with the government to develop a new framework for responsible mining.

In a related event, Cornerstone, through its subsidiary Cornerstone Ecuador, S.A. has served notice of force majeure on Sierramin Minera SA, the original owner of two of the Shyri concessions. The terms of that agreement provided for payment of advance royalties to Sierramin on a certain schedule following the completion of the property acquisition. Payments and other obligations will be suspended according to the duration of the event of force majeure.


David Patterson, President

This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at for further information.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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