Coastport Capital Inc.
TSX VENTURE : CPP
FRANKFURT : C1J

Coastport Capital Inc.

June 08, 2007 17:48 ET

Coastport Capital Inc.: Private Placement Increased to $2.8 Million

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 8, 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 28, 2007, Mr. David Patterson, President of Coastport Capital Inc. (TSX VENTURE:CPP)(FRANKFURT:C1J), announces that the previously announced non-brokered private placement in the amount of $2,000,000 has been increased. The Company will now issue a total of 5,727,500 units at a price of $0.50 per unit for gross proceeds of $2,863,750.

Each Unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at an exercise price of $0.60 per common share for 24 months from the date of closing (the "Warrants"). However, if over a period of 20 consecutive trading days between the date that is 4 months following the closing date and the expiry of the Warrant, the daily close price of the common shares on the TSX-V exceeds $1.20 on each of those 20 consecutive days, the Company will give written notice to the holders of the Warrants that the Warrants will expire at 4:00 p.m. (Vancouver time) on the 30th day following the giving of notice unless exercised by the holders prior to such date.

Finders' fees and commissions will be payable in connection with the private placement.

The Company plans to use the net proceeds of this financing primarily for advancement of its projects in Ecuador and for general corporate purposes.

The private placement is subject to TSX Venture Exchange approval.

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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