Coastport Capital Inc.
TSX VENTURE : CPP
FRANKFURT : C1J

Coastport Capital Inc.

October 16, 2007 09:00 ET

Coastport Capital Inc.: Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 16, 2007) - David Patterson, President of Coastport Capital Inc. (TSX VENTURE:CPP)(FRANKFURT:C1J), announces that after review of technical data on the La Plata Project, and an assessment of upcoming financial obligations required to keep the Company's interest in good standing, the Company has decided not to pursue the option to earn a 70% interest in the La Plata Project, located in Ecuador.

The Company had the option to earn a 70% interest in the La Plata Project, from Cornerstone Capital Resources Inc.

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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