Celeste Completes acquisition of 25% interest in Cornish Minerals Limited

Celeste Completes acquisition of 25% interest in Cornish Minerals Limited

Calgary, Alberta CANADA, July 10, 2012 /FSC/ - Celeste Copper Corporation  (C - TSX Venture), ("Celeste" or the "Company") is pleased to announce that on June 30,2012, pursuant to a previously announced earn-in agreement, it has acquired an initial 25% equity interest in Cornish Minerals Limited.

As announced on May 25, 2011, the earn-in agreement (the "Agreement") provides Celeste the right to acquire up to a 100% interest in Cornish Minerals Limited ("Cornish UK"), a corporation existing under the laws of England  which, through an wholly owned subsidiary corporation, owns the property and assets known as the South Crofty Mine, located in the tin/copper district at Pool, near Redruth, Cornwall in England.

Celeste has an ongoing drill program underway at the Company's Cornish Minerals project with encouraging drill results as reported on July 5, 2012 showing continuity of mineralization and strong grades of tin and copper. The company expects further assay results to be issued as they are received throughout the year.

Alan Shoesmith, Celeste's Chief Executive Officer, stated, "We are pleased to have completed this stage of the earn-in agreement. Also, when you combine this milestone with the very encouraging drill results continuing to be produced,  the Cornish Minerals project is evolving into a potentially significant tin project exciting our management team as we evaluate the Company's progression toward a production decision."
  
ABOUT CELESTE

Celeste is a Canadian corporation currently focused on the acquisition of an interest in Cornish Minerals Limited which controls mining rights in the historic Cornish mining region in Cornwall, England, including the South Crofty Mine as announced in a news release dated May 25, 2011. In addition, Celeste continues to assess other tin, copper and copper-gold properties for exploration and development opportunities.

Celeste 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:

Investor Cubed Inc.                David B. McQuaig
Neil Simon                         Chief Financial Officer
647-258-3311                       403-265-1109
nsimon@investor3.ca                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

This news release contains forward-looking statements and information within the meaning of applicable U.S. and Canadian securities laws including with respect to closing of the transaction and the timing of receiving results from Celeste's ground exploration and field program in Chile.  Words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "estimate" and similar terminology are used to identify forward-looking statements and information.  Such statements and information are based on assumptions, estimates, opinions and analysis made by management of Celeste in light of its experience, current conditions and its expectations of future developments as well as other factors which they believe to be reasonable and relevant.  Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements and information.  Risks and uncertainties that may cause actual results to vary include but are not limited to: the conditional nature of the transaction, including the requirement for approval of the transaction by the TSX Venture Exchange; uncertainties relating to the availability and costs of financing needed to complete the transaction; exploration costs varying significantly from estimates; delays in the exploration and development of, and/or commercial production from, the properties in which Celeste has an interest; the speculative nature of mineral exploration and development, including the uncertainty of reserve and resource estimates; operational and technical difficulties; success of future exploration and development initiatives; competition; inability to obtain, or delays in obtaining, necessary permits and approvals from government authorities; fluctuations in foreign exchange rates; as well as other risks and uncertainties which are more fully described in Celeste's annual and quarterly Management's Discussion and Analysis and other filings made by Celeste with Canadian securities regulatory authorities and available at www.sedar.com.

Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable laws, Celeste disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.  Although Celeste believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.



Celeste Copper Corporation,
Suite 497, 1811 4th St SW,
Calgary, Alberta, T2S-1W2

To view this press release as a web page, click onto the link below:
www.usetdas.com/PR/celeste10072012.htm




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