Mr. Neil Simon reports

CELESTE ANNOUNCES PRIVATE PLACEMENT

Celeste Copper Corp. has arranged a non-brokered private placement to raise $250,000 through the issuance of units, made up of one common share and one-half of a 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 18 months from the date of closing. Celeste will pay an 8-per-cent commission and issue broker warrants equal to 8 per cent of the total number of units sold to an arm's-length agent for the placement.

The proceeds of the private placement will be used to pay current liabilities, for 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 approval of the TSX Venture Exchange.