Capella Resources Ltd.

Capella Resources Ltd.

June 02, 2009 09:00 ET

Capella Updates on Lajitas Gold-Copper Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 2, 2009) - CAPELLA RESOURCES LTD. (TSX VENTURE:KPS)(PINK SHEETS:CPSJF) ("Capella" or the "Company") reports that Company geologists have completed mapping and sampling of new road cuts at its Lajitas gold-copper project in northern Chile during May 2009. Additionally, geologists completed logging and re-logging of Lajitas drill core which was drilled during November and December 2008 and includes drill holes LJ-08008, LJ-08010 and LJ-08011. Drilling on the Lajitas gold-copper project was suspended in December 2008 due to funding and is scheduled to be restarted in October 2009 after the Chilean winter.

The newly sampled road cut is 480 meters in length and lies approximately one kilometre south-southwest on structural trend with Drill Hole LJ-08011 which intersected 261 meters continuous gold mineralization grading 0.91 grams per tonne (g/t) gold as previously reported in the Company's news release of April 1, 2009. The road cut exposed altered dacite porphyry with grey "Maricunga type" quartz veins, silicification, clay, and iron oxides similar to the mineralization observed in LJ-08011. Analytical results from the road sampling are expected in late June. Examination of drill core yielded a change in the characterization of rock types noted within the drill holes, especially those with extensive alteration and oxidation with the ratio of dacite porphyry to tuffaceous wall rock increasing to 2:1 in LJ-08011. Gold mineralization is hosted dominantly in dacite porphyry and to a lesser degree in volcanic wall rock.

Drill hole LJ-08008 was collared 500 metres southeast of LJ-08011 and drilled to a depth of 360 metres, penetrating fresh un-altered dacite porphyry with weak pyrite and trace chalcopyrite mineralization and yielding no significant assay results. The core was analysed for gold and copper.

Drill hole LJ-08010 was collared 700 metres south of LJ-08011 and drilled to depth of 488 metres where the hole intersected a fault zone resulting in the loss of hole. LJ-08010 penetrated clay altered dacite porphyry with weak pyrite mineralization and increasing chalcopyrite toward the bottom of hole. To date, no significant gold values have been encountered and the hole has not been assayed for copper at this time. LJ-08010 was drilled to the northwest and was designed to test the south-western extension of the historic gold resource area near LJ-08010. It is believed that the mineralization noted in the bottom of LJ-08010 represents the south extension of mineralization intersected in LJ-08011. Unfortunately, due to the loss of LJ-08010, the drill test was not completed through the mineralized zone.

The Lajitas gold-copper project is located approximately 12 kilometres southeast of the Marte-Lobe gold deposit that was recently acquired by Kinross and lies 18 kilometres east of Andina Minerals' Volcan gold deposit. The Lajitas gold-copper project is subject to a 5% net smelter return royalty and the Company has the option to reduce the same to 2% by paying the royalty holders a cash payment of US$3,000,000 (for further information, see the Company news release of November 3, 2008, available at

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.

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