Capella Resources Ltd.

Capella Resources Ltd.

December 14, 2010 09:01 ET

Capella Resources Announces Closing of Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 14, 2010) - CAPELLA RESOURCES LTD. (TSX VENTURE:KPS)(PINK SHEETS:CPSJF) ("Capella" or the "Company") is pleased to announce that it has closed the non-brokered private placement of 5,350,000 units ("Units") at a price of $0.10 per Unit for total gross proceeds of $535,000, as disclosed in the news release issued on November 23, 2010. Each Unit consisted of one common share (a "Share") and one share purchase warrant (a "Warrant"), each Warrant entitling the holder to purchase one common share ("Warrant Share") at a price of $0.225 per Warrant Share until December 14, 2011.

The Company paid a cash finder's fee equal to 5% of the funds raised by the sale of the Units. The Company also issued finder's warrants equal to 5% of the Units sold, with each finder's warrant entitling the holder thereof to purchase one common share at a price of $0.225 until December 14, 2011.

All securities are subject to a four month hold period expiring on April 15, 2011.

Proceeds of the private placement will be used for general working capital purposes.


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

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

Contact Information