Mr. David McQuaig reports

CELESTE ANNOUNCES COMPLETION OF SALE FROM CONTROL POSITION AND CHANGE OF MANAGEMENT

Celeste Copper Corp.'s sale from control position and change of management that was previously reported in Stockwatch Nov. 17, 2010, have taken effect. In respect of the transaction, Peak Ridge Metal Equity Special Situation Fund (PRMESSF) has sold all of the common shares of the corporation it previously held (8,243,750 shares representing approximately 22 per cent of the 37,022,852 currently issued and outstanding common shares) to a total of eight investors allocated as previously disclosed. Two of the investors are former directors and officers of Celeste (Elmer Stewart and David B. McQuaig). Six other investors at arm's length to Celeste, PRMESSF also participated in the purchase.

Concurrently with the sale of shares outlined above, two directors of the corporation have resigned from the board (Guillermo Salazar and Shondell Sabad) and three new directors have been appointed. The new directors are:

• Mr. McQuaig, a former director, senior officer (chief financial officer), founder and promoter of the corporation. Mr. McQuaig was involved with the corporation from its inception and was a director and officer of Celeste at the time of its initial public offering in 2008, until July, 2009. He again served as a director and CFO of the corporation from Jan. 14, 2010, until March 22, 2010. Mr. McQuaig will serve as CFO and corporate secretary.

• Denis A. Clement, currently a director of CGX Energy Inc., an oil and gas issuer listed on the TSX Venture Exchange. Mr. Clement has 27 years of experience in corporate finance, law and management. He is chairman of DNI Metals Inc. and a director of Azabache Oil & Gas Inc., both TSX-V listed companies. Mr. Clement is also a founder and board member of a number of private oil and gas and mining enterprises. Mr. Clement will serve as chief executive officer and president of the corporation.

• Norman Brewster, a professional geologist, also currently holds directorships for International Mining Corp. (since 2005), Galantas Gold Corporation (since 2002), Iberian Minerals Corp. (since 1998) and Spider Resources Inc. (since 1999). Mr. Brewster is also president and chief executive officer of Cadillac Ventures Inc., and has been a director of Cadillac since 2007.

We seek Safe Harbor.