Coastal Pacific Mining Corp. (OTCBB:CPMCF)

Mr. J.K. Berscht, President of Coastal Pacific Mining Corp. (”Coastal
Pacific” or the “Company”), is pleased to announce the execution of a
“Letter Of Intent” to establish a Exploration Joint Venture (”Joint
Venture”) with Lenagold Limited, holder of the prospecting licence for a
property in Ireland which is located in the North West of Ireland near
the towns of Laghey and Ballintra, County Donegal (”Licensed Property”).

Under the terms set out in “The Letter of Intent” Coastal Pacific will
pay 1 million euro to Lenagold over a four year period and expend 9
million euro over the same period on exploration costs in respect of the
Licensed Property to earn a 60 per cent interest in the Licensed
Property.

Upon finalization of the Joint Venture agreement, Coastal Pacific will
undertake to allot 2,000,000 shares to Lenagold Limited and a further
1,000,000 shares to Canada Resources Plc, as the project manager of the
proposed Joint Venture.

In addition pursuant to the final Joint Venture agreement, it will agree
to pay 1 million euro to Canada Resources Plc as the project manager of
the proposed exploration programme over a four year period.

Recent testing was carried out on the Licensed Property.

Rock samples were gathered and sent for assaying evaluation. Higher than
standard levels were recorded on certain Rare Earth Elements (REEs)
mineralisation.

A competent persons report (43-101) is being prepared. Coastal Pacific
will utilize the information from the report in taking the necessary
steps in the development of this strategically located REE & GOLD –
project in Ireland.

Coastal Pacific, as well as having JV’s in the U.S. and Canada, now
intends to further its’ exploration interests in Ireland with this
Licensed Property which targets Gold-Silver-Copper and REE in County
Donegal.
Coastal Pacific Mining Corp.927 Drury Ave N.E.Calgary,
Alberta T2E 0M3Web: www.coastalpacificmining.comFor
information: info@coastalpacificmining.comCautionary note:The results presented in this press release are exploratory and
historical values do not conform to National Instrument 43-101, however,
they are generally considered reliable according to local industry
standards.FORWARD-LOOKING STATEMENTS: “Safe Harbor” Statement under the Private
Securities Litigation Reform Act of 1995: Statements relating to the
company’s business activities and other statements in this press release
are forward-looking statements within the meaning of the Securities
Litigation Reform Act of 1995. Such statements are based on current
expectations about the Company’s business. Words such as expects,
anticipates, intends, plans, believes, estimates and similar words and
expressions are intended to identify such forward-looking statements.
These statements involve risks that are difficult to evaluate. Actual
results can vary from descriptions herein due to many factors including
changes in metal prices and business conditions; changes in laws and
regulations; problems encountered in exploration and obtaining permits;
changes in the competitive environment; technological advances;
shortages of skilled workers, drill rigs and equipment; the need for
additional capital and other risks listed in the Company’s Securities
and Exchange Commission filings under “risk factors” and elsewhere.
Forward-looking statements speak only as of the date they were made. The
Company does not undertake any obligation to update forward-looking
statements.