Coastport Capital Inc.
TSX VENTURE : CPP
FRANKFURT : C1J

Coastport Capital Inc.

June 12, 2007 18:12 ET

Coastport Capital Inc. Completes $5,135,000 Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 12, 2007) -

NOT FOR DISSEMINATION INTO THE UNITED STATES OF AMERICA OR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Further to the Company's news release dated May 2, 2007, Mr. David Patterson, President of Coastport Capital Inc. (TSX VENTURE:CPP)(FRANKFURT:C1J), announces that it has closed on its brokered private placement led by Canaccord Capital Corp. ("Private Placement") and issued an aggregate 10,270,000 units ("Units") at a price of $0.50 per Unit for gross proceeds of $5,135,000. Each Unit consists of one common share ("Share") and one-half of one share purchase warrant ("Warrant"). Each whole Warrant is exercisable for a period of two years at a price of $0.60 per share.

In connection with the Private Placement, the Company paid a cash commission equal to 8.0% of the gross proceeds and issued Agent's Warrants equal to 10% of the Units sold under the Private Placement. Each Agent's Warrant is exercisable for one common share at a price of $0.60 per share for a period of two years. In addition, a corporate finance fee was paid in cash and Units.

All securities issued with respect to the Private Placement are subject to a hold period expiring October 13, 2007.

Additionally, the previously announced non-brokered private placement in the amount of $2,913,750 is expected to close shortly.

The Company plans to use the net proceeds of this financing primarily for the advancement of the Shyri Project and for general corporate purposes.

ON BEHALF OF THE BOARD OF COASTPORT CAPITAL INC.

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 www.sedar.com for further information.

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

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