Coastal Pacific Mining Corp. has signed a 'Letter Of Intent' (LOI) and formed an exploration joint venture for the area near the towns of Laghey and Ballintra, County Donegal, together with the holder of the prospecting licence for a property in Ireland, Lenagold Limited. The company will pay Lenagold EUR 1 million and spend EUR 9 million over four years on exploration and earn a 60% interest in the property, pursuant to the LOI's terms. Coastal Pacific will additionally allot 2 million shares to Lenagold Limited and an additional 1 million shares and EUR 1 million to Canada Resources Plc, the project manager of the proposed joint venture, under the final joint venture agreement.

Coastal Pacific Mining Corp. announced that the Company will be focussing its exploration program on two separate gold zones within the McNeil Gold Property. The two identified zones for the up and coming exploration programs are the 'Bulls eye' zone, and the 'Isadore-Micmac' Zone. The 'Bulls eye' Zone is located in the north-western portion of the Property and the 'Isadore-MicMac' in the south-eastern to south-central portion of the Property. The Bulls eye zone represents a Copper-Gold system within a Hydrothermal Alteration Pipe identified by a large 350 meter circular magnetic anomaly and coincidental gravity anomaly detailed in 2006 by Warrior Ventures Inc. Two test holes, totalling 500 meters were drilled in 2008 by Warrior Ventures on the Bulls eye Zone and each hole intersected over 200 meters of mineralized alteration. Selected copper-gold assays in each hole ranged from 0.10% CU to 1.02% CU and 100ppb AU to 1049ppb AU.

Coastal Pacific Mining Corp. filed its 20-F on July 29, 2009 for the period ending April 30, 2009. In this report its auditor, Child, Van Wagoner & Bradshaw, PLLC, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Coastal Pacific Mining Signs "Letter of Intent" to Explore for Gold & Rare Earth Elements "REE's" in the Republic of Ireland

Quote: CALGARY, Alberta--(BUSINESS WIRE)--Coastal Pacific Mining Corp. (OTCBB:CPMCF - News)Mr. J.K. Berscht, President of Coastal Pacific Mining Corp. ("CoastalPacific" or the “Company”), is pleased to announce the execution of a"Letter Of Intent" to establish a Exploration Joint Venture ("JointVenture") with Lenagold Limited, holder of the prospecting licence for aproperty in Ireland which is located in the North West of Ireland nearthe towns of Laghey and Ballintra, County Donegal ("Licen...
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Coastal Pacific Identifies Two Gold Zones for Summer Exploration Program within McNeil Gold Property

Quote: CALGARY, Alberta--(BUSINESS WIRE)--Coastal Pacific Mining (OTCBB:CPMCF - News) (the “Company”) announces todaythat the Company will be focussing its exploration program on twoseparate gold zones within the McNeil Gold Property (the “Property”).The two identified zones for the up and coming exploration programs arethe “Bulls eye” zone, and the “Isadore-Micmac” Zone.The “Bulls eye” Zone is located in the north-western portion of theProper...
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