Capella Resources Ltd.

Capella Resources Ltd.

April 23, 2009 09:30 ET

Capella Commences Drilling on the Nevada Gold Project, Maricunga Gold Belt, Chile

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 23, 2009) - CAPELLA RESOURCES LTD. (TSX VENTURE:KPS)(PINK SHEETS:CPSJF) ("Capella" or the "Company") reports that drilling at its Nevada gold-copper project in northern Chile has commenced. A minimum of 1,200 metres of drilling is planned with three core drill holes. The first hole has reached a depth of 80 metres with drilling progressing well. Weather conditions continue to remain favourable.

The drill program will test a combination of magnetic and induced polarization (IP) geophysical anomalies coincident with intensely altered mineralized surface outcrops.

The Company has contracted Major Drilling Chile S.A. of Santiago, Chile to drill three core holes to depths of up to 400 meters. The program is expected to be completed within five weeks, weather permitting. Drilling in northern Chile can typically be conducted until mid-May, before winter weather sets in.

The Company holds a 100% interest in the Nevada Gold Project subject to a 5% net smelter return royalty. The project consists of seven exploration and exploitation claims comprising approximately 1,900 hectares. Access to the Nevada gold-copper property is by all-weather gravel and paved roads from Copiapo, approximately 160 kilometres to the west. The Nevada gold-copper project drill area lies approximately 10 kilometres south of Kinross's Maricunga gold mine (formerly the Refugio gold mine) and six kilometres north of Exeter's Caspiche gold-copper project. A recently completed power line to the Maricunga gold mine lies three kilometres to the north of project site.

Three, relatively short, drill holes were completed in the early 1990's by Minera Mount Isa Chile S.A. on the Nevada gold-copper property yielding sporadic gold mineralization. Additional information regarding this historic and current data can be found on SEDAR ( or on the Company's website at

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).


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.

Contact Information