Donnybrook Energy Inc

Published : April 30th, 2008

and Cornerstone Declare Force Majeure in Ecuador

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Keywords :   Ecuador | Gold | Market |

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Coastport Capital Inc.
TSX VENTURE:CPP
FRANKFURT:C1J
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April 30, 2008
Coastport and Cornerstone Declare Force Majeure in Ecuador
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 30, 2008) - Coastport Capital Inc. (TSX VENTURE:CPP)(FRANKFURT:C1J), reports that Cornerstone Capital Resources Inc. (TSX VENTURE:CGP), in consultation with the Company, has provided notice of force majeure on the Shyri Project. The Shyri property comprises 15 legally granted concessions in south-central Ecuador encompassing high potential gold prospects and environments. The event of force majeure results from the issuance of the mining mandate by the Constituent Assembly on April 18, 2008, which placed a moratorium on exploration and mineral development activities for up to 180 days.

The declaration of force majeure is a legal requirement under the terms of the Cornerstone - Coastport agreement in order to suspend exploration work and expenditures during the moratorium. The parties will continue to work together to understand the impact of the mining mandate on their plans for the Shyri Project. Cornerstone will continue to represent the interests of the parties in Ecuador and work with the government to develop a new framework for responsible mining.

In a related event, Cornerstone, through its subsidiary Cornerstone Ecuador, S.A. has served notice of force majeure on Sierramin Minera SA, the original owner of two of the Shyri concessions. The terms of that agreement provided for payment of advance royalties to Sierramin on a certain schedule following the completion of the property acquisition. Payments and other obligations will be suspended according to the duration of the event of force majeure.

ON BEHALF OF THE BOARD OF COASTPORT CAPITAL INC.

David Patterson, President

This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com for further information.


The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

CONTACT INFORMATION:

Coastport Capital Inc.
David Patterson
President
(604) 684-0561
Fax: (604) 602-9311
Email: info@coastportcapital.com
Website: www.coastportcapital.com

INDUSTRY: Manufacturing and Production - Mining and Metals

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Data and Statistics for these countries : Ecuador | All
Gold and Silver Prices for these countries : Ecuador | All

Donnybrook Energy Inc

CODE : DEI.V
ISIN : CA2580111052
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Donnybrook Energy is a silver and gold exploration company based in Canada.

Donnybrook Energy holds various exploration projects in Ecuador.

Its main exploration properties are LA PLATA and LA PLATA VMS in Ecuador.

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Financings of Donnybrook Energy Inc
8/20/2010Private Placements Close
8/5/2010Additional Private Placement
7/14/2010$2,000,000 Private Placement
6/20/2007Completes $2,913,750 Private Placement
6/13/2007Completes $5,135,000 Private Placement
6/8/2007Private Placement Increased to $2.8 Million
Project news of Donnybrook Energy Inc
9/6/2012: Bigstone 13-33 Well Production Tubing Installed
5/28/2012Donnybrook Provides the Results of Independent Resource Stud...
1/27/2012: Bigstone Drilling & Operations Update
Corporate news of Donnybrook Energy Inc
4/16/2013Donnybrook Announces Closing of Asset Exchange and Arrangeme...
3/28/2013Donnybrook Announces Details of Anticipated Distribution of ...
2/25/2013Donnybrook Announces Agreement to Sell Simonette and Resthav...
8/1/2012: Montney Operations Update
4/10/2012: Bigstone and Simonette Montney Operations Update
2/29/2012Donnybrook to Spud Third Extended Reach Horizontal Montney W...
2/16/2012Donnybrook Continues to Prove Up Simonette Liquids Rich Mont...
2/2/2012Announces Conveyance of Assets
9/2/2011Enters Into Participation and Farm-Out Agreement
8/26/2011to Reorganize into Two Companies: Donnybrook Energy Inc=2E a...
8/25/2011Spuds Bigstone Horizontal Montney Well; Simonette Montney Lo...
6/22/2011: Deep Basin, West Central Alberta Update
4/13/2011: Deep Basin Operations Update
3/14/2011=2E: Resthaven-Simonette Montney Operations Update Bigstone ...
7/24/2010Financing Increased
6/30/2009has entered into a definitive purchase agreement
4/30/2008 and Cornerstone Declare Force Majeure in Ecuador
4/25/2008 Ecuador Update
1/21/2008Corporate Update
6/7/2007Provides a Review and Update of Interpreted Geophysical Resu...
5/28/2007Announces an Increase to the Overallotment Option Relating t...
5/28/2007Announces $2,000,000 Financing
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