The Light Blues number one has failed to agree a new deal with the Irn-Bru Third Division champions and his spell at the club now appears to be over.
McCoist has already recruited former Kilmarnock keeper Cammy Bell although a transfer embargo means he cannot be registered until September 1.
The manager is keen for Scott Gallacher - who turns 24 next month - to go out on loan and that means the search has begun for a challenger for the gloves to Bell.
McCoist told the club's website: "Neil's contract has run out. There was another contract on the table for him - I know [interim chief executive] Craig Mather spoke to his agent - but he hasn't signed it so it looks as though his future will be elsewhere.
"In an ideal world I would like to sign another goalkeeper because I would like Scott Gallacher to go out and play because at this stage of his career it wouldn't do him any good just sitting on the bench.
"He is at an age now where I would like to put him out on loan and there are one or two clubs interested in taking him on-board. Having said that, if he goes on loan he has to play. There is no point in him going to another club and being in the same position as he would be here."
McCoist added: "I know that [head of football administration] Andrew Dickson and Craig Mather are in discussion with the agents of Dorin Goian and Carlos Bocanegra and hopefully we will have news on that in the next few days.
"I would imagine there would be activity between now and the start of the season in terms of players departing whether on loan or permanently because that is the way of things at any football club."
- Sports & Recreation
- Scott Gallacher
- Cammy Bell