Celeste Copper Announces Private Placement.

Celeste Copper Announces Private Placement.

Calgary, Alberta CANADA, October 11, 2012 /FSC/ - Celeste Copper Corporation (C - TSX Venture)("Celeste" or the "Company"),announces that the Company intends to undertake a non-brokered private placement of up to 10,000,000 units, each unit being made up of one common share and one half of a common share purchase warrant ("Unit") at a price of $0.05 per Unit for total gross proceeds of up to $500,000 (the "Offering").  Each whole common share purchase warrant ("Warrant") shall entitle the holder to acquire one common share of the Company at a price of $0.10 per share for a period of 24 months following the date of closing of the Offering.

It is anticipated that management and insiders will participate in the private placement for a minimum of 10% of the Units.

Additionally Celeste's strategic investor Liberty Metals and Mining Holdings, LLC, a subsidiary of Liberty Mutual Group has pre emptive rights that grant it the right to take up to 47% of the offering if exercised in full.

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 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/celesteoct112012.htm


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