Celeste Clarifies Insider Shareholder
Calgary, Alberta CANADA, June 05, 2012 /FSC/ - Celeste Copper Corporation (C - TSX Venture), ("Celeste" or the "Company") wishes to clarify, further to its management proxy circular filed on SEDAR on May 22, 2012, relating to Celeste's annual meeting on June 6, 2012, that Liberty Metals & Mining Holdings, LLC ("Liberty Metals") is the only shareholder of the Company holding more that 10% of the issued and outstanding common shares. As of the date of the management proxy circular, Liberty Metals beneficially owns 22,222,222 common shares, representing 23.1% of the outstanding common shares on a non-diluted basis, and warrants to acquire up to 11,111,111 common shares.
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
Chief Financial Officer
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
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Source: Celeste Copper Corporation (TSX-V: C) http://www.celestecopper.com
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