COASTAL PACIFIC MINING CORPORATION
927 DRURY AVENUE, NE
CALGARY, ALBERTA
T2E OM3
July 5, 2012
U.S. Securities and Exchange Commission
100 F Street, N.E.
Washington, D.C. 20549
Attention: Tia L. Jenkins
Senior Assistant Chief Accountant
Office of Beverages, Apparel and Mining
RE: Coastal Pacific Mining Corporation (the “Company”)
Form 20-F for fiscal year ended April 30, 2011
Filed November 15, 2011
Response dated May 31, 2012
File No. – 000-53617
Dear Ms. Jenkins:
Further to your letter of June 27, 2012 in regard to the above noted Company filing, we hereby respond as follows:
Form 20-F for the fiscal Year Ended April 30, 2011
Note 6. Stockholders’ Equity, page F-11
Comment:
| 1. | We note your response to comment 2 in our letter dated April 30, 2012. Please provide draft disclosure to be included in future filings that discloses in Note 2 your accounting policy for share-based payment arrangements issued in exchange for the receipt of goods or services as defined in ASC 505-50. |
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Response:
Our proposed disclosure for our accounting policy is:
Note 2. Summary of Significant Accounting Policies:
Share based payment arrangements
The Company follows the guidance provided in ASC 505-50 – Equity Based Payments to Non-Employees (“ASC 505-50”) in respect to the valuation of shares issued for receipt of goods or services rendered.
Engineering Comments
Comment:
| 2. | We note your response to comments 7, 10, and 12 regarding a discussion of your environmental permits, exploration plans/budgets, and sample collection/assaying procedures at your exploration properties. Please confirm to us you will include a similar discussion in your future filings. |
Response:
We confirm that we will include a similar discussion in our future filings regarding the discussion of our environmental permits, exploration plans/budgets, and sample collection/assaying procedures at our exploration properties in all future filings requiring such disclosure.
Comment:
| 3. | We note your response to comment 9 in which you made the changes to your maps. Please provide copies for our review with your response. |
Response:
We have amended our drawings as detailed in our prior response to comment 9. We have appended copies of our maps for your review with this response.
The Company acknowledges that:
| · | The Company is responsible for the adequacy and accuracy of the disclosure in the filing; |
| · | staff comments or changes to disclosure in response to staff comments do not foreclose the Commission from taking any action with respect to the filing; and |
| · | the Company may not assert staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States. |
We trust the above is satisfactory. Please advise if you require us to file an amended Form 20-F in order to reflect these changes or, as we are currently finalizing our Form 20-F for the period ended April 30, 2012, or whether we should just ensure that we enact all of the required changes into the upcoming April 30, 2012 filing.
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Should you further, please do not hesitate to contact the undersigned.
Yours truly,
/s/ Joseph Bucci
Joseph Bucci
President
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