Coastport Capital Inc.

Coastport Capital Inc.

March 24, 2006 16:42 ET

Coastport Capital Inc.: Private Placement Increased to $6,300,000

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 24, 2006) - Mr. David Patterson, President of Coastport Capital Inc. (TSX VENTURE:CPP), announces that its previously announced non-brokered private placement in the amount of $5,400,000 has been increased to $6,300,000. These funds will be raised by the Company issuing a total of 7,000,000 units at a price of $0.90 per unit. Each unit is comprised of one common share and a one-half common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share of Coastport at a price of $1.10 for eighteen months.

The funds raised by way of this private placement will be used for general working capital and the Company's 2006 exploration programs on the Shyri and La Plata projects, located in Ecuador.

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

The private placement is subject to the approval of the TSX Venture Exchange.



David Patterson, President

WARNING: This news release contains forward looking information. The reader is cautioned that assumptions used in the preparation of such information, although considered accurate at the time of preparation, may prove incorrect. The actual results may vary materially from the information provided herein. Consequently, there is no representation by Coastport that actual results achieved will be the same as those forecast.

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

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