Mr. Neil Simon reports

CELESTE CLOSES $250,000 PRIVATE PLACEMENT

Celeste Copper Corp. has completed a non-brokered private placement to raise $250,000 through the issuance of units made up of one common share and one common share purchase warrant at a price of 10 cents per unit. Each whole warrant will be exercisable for a price of 15 cents per share for a period of two years from the date of closing.

The private placement was subscribed for by one institution.

The corporation paid finders' fees totalling $22,600 and issued 200,000 non transferable warrants to Gillford Capital Inc., a financial services group based in Toronto, Ont. Each non-transferrable warrant entitles the holder to purchase one common share at a share price of 10 cents per share until March 29, 2013.

In accordance with applicable securities legislation, securities issued pursuant to the offering are subject to a hold period of four months plus one day from the date of completion of the private placement.

The proceeds of the private placement will be used to pay current liabilities, continuing exploration work and general working capital. The private placement is to an arm's-length party and will not create a new insider or control person. The private placement is subject to final approval of the TSX Venture Exchange.