Capella Resources Completes $10,000,000 Financing With Dundee Securities Corporation and Completes Acquisition of Tripple Uranium Resources



    VANCOUVER, B.C., June 29 /CNW/ - CAPELLA RE

SOURCES LTD. (TSX VENTURE:CPS) ("CAPELLA" or the "Company") is pleased to announce that it has completed its previously announced private placement financing with Dundee Securities Corporation ("Dundee") and the previously announced acquisition of Tripple Uranium Resources Inc. ("Tripple"). Completion of Financing The financing consisted of 7,730,000 Flow-Through Common Shares (the "FT Shares") at a price of $1.10 per FT Share for gross proceeds of $8,503,000 and 2,014,600 Units at a price of $1.10 per Unit, each Unit consisting of one common share of the Company and one-half of one transferable common share purchase warrant of the Company at an exercise price of $1.40, exercisable on or before December 29, 2008 (the "Warrants"), for gross proceeds of $2,216,060 (the "FT Shares and the Units collectively called the "Offering"). The total aggregate proceeds for the Offering were $10,719,060. Dundee received a cash commission of $696,738.90, being 6.5% of the aggregate gross proceeds of the Offering. In addition, Dundee received 633,399 broker warrants exercisable for common shares of the Company, being 6.5% of the number of FT Shares and Units sold under the Offering (the "Broker Warrant"). The Broker Warrant is exercisable at a price of $1.27 per common share exercisable on or before December 29, 2008. In the event that the Company's common shares trade at a closing price on the TSX Venture Exchange of greater than $2.20 per share for a period of 20 consecutive trading days from October 30, 2007, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Company. The securities issued in the Offering are subject to a hold period expiring on October 30, 2007. Completion of the Acquisition of Tripple The Company is also pleased to announce that it has completed the acquisition of Tripple. Pursuant to the terms of the acquisition, the Company will issue 0.75 shares of the Company for each outstanding common share and warrant of Tripple. The securities issued in connection with the acquisition of Tripple are subject to a hold period expiring on October 30, 2007. Use of Proceeds from the Offering The gross proceeds from the sale of the FT Shares will be used for Canadian Exploration Expenses (within the meaning of the Income Tax Act (Canada) (the "ITA"), with the Company using its best efforts to ensure that such Canadian Exploration Expenses qualify as a "flow-through mining expenditure" for purposes of the ITA, related to the exploration of the Company's exploration projects acquired via the acquisition of Tripple, having projects located in Nova Scotia, New Brunswick and Newfoundland and Labrador. The Company will renounce such Canadian Exploration Expenses with an effective date of no later than December 31, 2007. The net proceeds from the sale of the Units will be used for exploration activity, acquisitions, and for general working capital purposes. About Capella Resources Ltd. The Company is a publicly traded, junior exploration company with over 20,000 mineral exploration claims covering an aggregate land area coverage of over 1,010,000 acres (407,800 hectares) in Atlantic Canada (Nova Scotia, New Brunswick and Newfoundland and Labrador). The Company holds a 100% interest in the Tinton Gold Project located 15 kilometres west-northwest of the famous and historic Homestake Mine in the Black Hills at Lead, South Dakota. The property consists of 1270 hectares contained in 157 unpatented mining claims. The Company also holds a 100% interest in the Nevada and Dorado Gold and Copper properties located in the Maricunga Gold and Copper District approximately 700 kilometres northwest of Santiago, Chile. The properties are comprised of ten exploration claims and six exploitation claims totaling a cumulative 3,500 hectares in area. For further information, please contact Skyline Investor Relations at Toll Free 1-866-433-3356 or 604-733-3356 or by e-mail at info@skylineir.com. CAPELLA RE

SOURCES LTD. Per: R.A. "Bruce McDonald" R.A. Bruce McDonald, Chairman of the Board This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

For further information:

For further information: Skyline Investor Relations Brian Cole, Toll
Free: 1-866-433-3356 or 604-733-3356 info@skylineir.com

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CAPELLA RESOURCES LTD.

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