CAPELLA RESOURCES LTD. (TSX-V: CPS) (“Capella” or the “Company”) announces that at its Special Meeting, scheduled for November 28, 2008 (the “Meeting”), shareholders will be asked to consider an ordinary resolution to approve a consolidation of the Company’s common shares on the basis of one (1) post-consolidated share for every ten (10) pre-consolidated shares, or such lesser whole number of pre-consolidated shares as the directors of the Company may determine (the “Consolidation”). If the Consolidation is approved by a majority of shareholders at the Meeting, the directors will have the sole discretion to select the final consolidation ratio and to implement such consolidation, provided that the consolidation ratio (the “Consolidation Ratio”) is no more than one (1) post-consolidated share for every ten (10) pre-consolidated shares, subject to the approval of the TSX Venture Exchange. The Company does not anticipate a name change in connection with the Consolidation.

The Company currently has 66,832,174 issued and outstanding common shares. If the Consolidation is conducted on a ten (10) for one (1) basis, the Company would have approximately 6,683,217 shares outstanding following the Consolidation. The exact number of post-consolidated shares will vary depending on the treatment of fractional shares which will occur when each shareholder’s holdings in the Company are consolidated. Outstanding stock options and warrants would similarly be adjusted by the Consolidation Ratio.

Management of the Company believes that further equity financing is required in order for the Company to fund its current working capital requirements and for future business purposes. It is management’s opinion that the Company’s existing issued and outstanding share capital is not conducive to completing such additional equity financing and that the Consolidation is required in order to attract new equity investment in the Company.

Details of the Consolidation are contained in the Company’s information circular dated October 29, 2008, which will be mailed to shareholders on or before November 3, 2008, and filed on SEDAR (www.sedar.com).

About Capella Resources Ltd.

Capella Resources Ltd. is a publicly traded, junior exploration and mineral development company with a strong portfolio of precious and base metal projects in Chile, USA and Atlantic Canada. The Company has a 100% interest in the Lajitas and Nevada gold-copper properties located in the Maricunga Gold and Copper District and approximately 700 kilometres northwest of Santiago, Chile. The properties comprise ten exploration claims and six exploitation claims totalling a cumulative 3,500 hectares in area. 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 Tinton property consists of 1,270 hectares contained in 157 unpatented mining claims.

The Company also holds over 25,000 mineral exploration claims covering an aggregate land area of over 1.2 million acres (495,264 hectares) in Atlantic Canada (Nova Scotia, New Brunswick and Newfoundland and Labrador).

CAPELLA RESOURCES LTD.

per: “Richard Bachman"

Richard Bachman, Chief Executive Officer, President & Chief Geological Officer

Not for distribution to the United States newswire services or for dissemination in the United States.

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.

Capella Resources Ltd.
Diane Webber, P. Geo, 902-456-4349
Toll Free: 1-877-342-7474
info@capellaresources.com