Celeste Copper Announces Intent to Divest Remaining Chilean Claims to Focus on Development of South

Celeste Copper Announces Intent to Divest Remaining Chilean Claims to Focus on Development of South Crofty Mine

Calgary, Alberta CANADA, September 25, 2012 /FSC/ - Celeste Copper Corporation (C - TSX Venture)("Celeste" or the "Company"),wishes to announce it intends to divest its remaining Celeste IV to X claims in Chile by way of either an outright sale or joint venture basis.  The Company has reached the decision that its main focus should be on developing its interest in Cornish Minerals Limited and thus the development of the South Crofty Mine in Cornwall, UK.

Chilean Claims

The Celeste IV to X claims (the "Property") is located 70 km SE from Copiapo, Chile.  It includes an area of 24 square kilometers of mining concessions.  The Candeleria IOCG deposit (reported reserves of approx 400mt) is located approximately 40 kms from the Property on the other side of the Cabeza De Vaca intrusion.Interested parties should contact Celeste directly.

The Property is a non material component of the Company with nearly 100% of management time and efforts being expended on its South Crofty, England property.

South Crofty Mine

As announced by its press release of September 5th, 2012, the Company will shortly be filing an updated National Instrument 43-101 ("NI 43-101") estimate for the Dolcoath section of the South Crofty project (the "Estimate") with an estimation reporting:

* - An inferred resource of 2.47 million tonnes grading 0.46 per cent tin, 0.54 per cent copper and 0.23 per cent zinc (0.68 per cent tin-equivalent);

* - An exploration target of between 6.7 million and 13.5 million tonnes with grades ranging between 1.4 per cent and 1.8 per cent tin in an area east of the Great Crosscourse within the South Crofty mine;

* - An exploration target of between 1.25 million and 2.5 million tonnes with grades ranging between 1.25 per cent and 1.6 per cent tin in the Dolcoath deep and Roskear areas of the South Crofty project.

Celeste has uploaded today a new corporate presentation on the South Crofty project to its corporate website.

The Estimate was prepared by Micromine Consulting Services UK and includes all project exploration drill hole and channel sampling data from exploration completed since 2008 up to February 29th 2012.  The technical report related to the Estimate will be filed within the regulatory required 45 days on SEDAR at http://www.sedar.com and will be posted on Celeste's website.  The Estimate follows on from the initial maiden NI43-101 resource estimation and report titled "National Instrument 43-101 Technical Report for Celeste Copper Corporation, Dolcoath Resource Estimation, South Crofty Mine, Cornwall, England", signed June 17 2011 with an effective date of March 7, 2011.

The exploration targets reported for the South Crofty property are historical, the potential quantity and grade is conceptual in nature, there has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in discovery of a mineral resource.

Qualified Person

Mr. J.N. Hogg, MSc., MAIG, Senior Geologist and Qualified Person with Micromine Consulting Services UK, has reviewed and approve the South Crofty Mine technical information contained in this news release.

About Celeste:

Celeste is a Canadian corporation currently focused on the acquisition of a majority interest in Cornish Minerals Ltd. which controls mining rights in the historic Cornish mining region in Cornwall, England, including the South Crofty Mine as announced in this press release and the press release dated May 25th, 2011.  Celeste has previously secured financial support from a significant strategic investor, Liberty Metals and Mining Holdings, LLC, a subsidiary of Liberty Mutual Group.

Celeste common shares trades on the TSX Venture Exchange under the symbol C.  Celeste's website can be accessed at http://www.celestecopper.com.  ;

For further information, please contact:

David B. McQuaig
Director
403-265-1109
davidmcquaig@shaw.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution Concerning Forward-Looking Information

Certain statements contained in this news release constitute "forward-looking statements" as such term is used in applicable Canadian and US securities laws.  These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.  In particular, there is no certainty that the additional assays from the 2011 and 2012 drilling program or future drill programs or the formalizing next steps will identify additional mineralization or resources and other factors and events described in this news release should be viewed as forward-looking statements to the extent that they involve estimates thereof.  Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans, "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as "forward-looking statements".  Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  Such risks and other factors include, among others, identifying additional resources, availability of capital to fund exploration projects; political, social and other risks inherent in carrying on business in a foreign jurisdiction and such other business risks as discussed herein and other publicly filed disclosure documents.  Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.  There can be no assurance that such statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such statements.  Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release.

Forward looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.

To view this press release as a webpage, please click on the following link:
http://www.fscwire.com/pr/celestecopperseept252012.htm


Source: Celeste Copper Corporation (TSX-V: C) http://www.celestecopper.com
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