CALGARY, ALBERTA–(Marketwire – Aug. 20, 2010) –

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

For more information, please contact

Coastport Capital Inc.
Malcolm Todd
Chief Executive Officer
(403) 237-5700
(403) 264-7401 (FAX)
www.coastportcapital.com