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


Malcolm Todd, Chief Executive Officer of Coastport Capital Inc. (TSX
VENTURE:CPP)(FRANKFURT:C1J) ("Coastport" or the "Company") reports that the
Company has closed its previously announced private placements totalling
$5,750,000. The funds were raised through the issuance of 28,000,000
non-flow-through units ("NFT Units") at a price of $0.125 per NFT Unit, and
15,000,000 flow-through units ("FT Units") at a price of $0.15 per FT Unit. 


Each NFT Unit consisted of one common share and one half of one common share
purchase warrant. Each whole warrant will entitle the holder, on exercise, to
acquire one non-flow-through common share at a price of $0.20 until February 13,
2011, and at a price of $0.30 until August 13, 2011. The shares, and any shares
issued upon the exercise of warrants, issued as part of the NFT Units have a
hold period expiring December 14, 2010. 


Each FT Unit consisted of one common share and one half of one common share
purchase warrant. Each whole warrant will entitle the holder, on exercise, to
acquire one non-flow-through common share at a price of $0.20 until February 19,
2011, and at a price of $0.30 until August 19, 2011. The shares, and any shares
issued upon the exercise of warrants, issued as part of the FT Units have a hold
period expiring December 20, 2010. 


In conjunction with the private placements, the Company has paid finder's fees
of $141,299 and issued 1,050,723 finder's warrants. Of these, 652,400 finder's
warrants are exercisable into one common share at a price of $0.20 until
February 13, 2011 and at a price of $0.30 until August 13, 2011. The remaining
398,323 finder's warrants are exercisable into one common share at a price of
$0.20 until February 19, 2011 and at a price of $0.30 until August 19, 2011. 


ON BEHALF OF THE BOARD OF COASTPORT CAPITAL INC.

Malcolm Todd, Chief Executive Officer