Coastport Capital Inc.
TSX VENTURE : CPP

Coastport Capital Inc.

March 27, 2006 19:01 ET

Coastport Capital Inc.: Private Placement Increased to $6,547,500

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 27, 2006) -

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

Further to the Company's news release dated March 24, 2006, Mr. David Patterson, President of Coastport Capital Inc. (TSX VENTURE:CPP), announces that the previously announced non-brokered private placement in the amount of $6,300,000 has been amended. The Company will now issue a total of 7,275,000 units at a price of $0.90 per unit for gross proceeds of $6,547,500 (the "Financing"). The Financing will be comprised of a non-brokered private placement in the amount of $5,535,000 and a brokered private placement with Canaccord Adams (the "Agent") in the amount of $1,012,500. The Company has granted the Agent an over allotment option equal to 10% of the units offered under the brokered private placement, exercisable at any time prior to closing of the offering. 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 and commissions will be payable in connection with the private placement.

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

ON BEHALF OF THE BOARD OF

COASTPORT CAPITAL INC.

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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