Celeste Copper Corporation

Celeste Copper Corporation

March 30, 2010 09:30 ET

Celeste Announces Extension of Option Pursuant to Exploration Agreement

CALGARY, ALBERTA--(Marketwire - March 30, 2010) - Celeste Copper Corporation (TSX VENTURE:C) ("Celeste" or the "Corporation") announces a 60 day extension of the expiry date for the Option pursuant to the Exploration Agreement and Option (the "Agreement") between Minera Alberta Chile Ltda. ("MACL"), Celeste and Peak Ridge Metal Equity Special Situation Fund. ("PR Metal Equity SSF") dated effective October 17, 2008. On February 12, 2010 the Corporation announced that pursuant to the Agreement that PR Metal Equity SSF fulfilled two of three requirements to earn an 80% interest in the Negrita 1-13 mining concessions.

The third and final requirement of the Agreement is for PR Metal Equity SSF to deposit MACL with $2.8 million by way of loan or similar security. Pursuant to the Agreement, the final condition shall be fulfilled within 60 days of receipt of notification that PR Metal Equity SSF spent $1.0 million, which was on January 21, 2010. As such, the expiry date of this Option is March 22, 2010. Celeste confirms that a 60 day extension will be granted to PR Metal Equity SSF in order to exercise the Option. Effective March 22, 2010, Celeste, MACL and PR Metal Equity SSF executed an agreement to extend the Option. PR Metal Equity SSF has until May 21, 2010 to deposit $2.8 million with MACL otherwise the Option shall expire.

About Celeste:

Celeste is a Canadian corporation currently focused on the exploration of its copper properties located in central Chile. The Corporation is planning to assess other future copper and copper-gold properties for exploration and development opportunities throughout Chile.

Celeste shares trades on the TSX Venture exchange under the symbol C. The Corporation's website can be accessed at www.celestecopper.com.

Forward Looking Statements: This news release contains forward - looking information including but not limited to comments regarding the timing and content of upcoming acquisitions, exploration programs including disclosure regarding possible future events and therefore, involves inherent risks and uncertainties. For any forward looking information given, management has assumed that the analytical results it has received are reliable, and has applied geological interpretation methodologies which are consistent with industry standards. Although management has a reasonable basis for the conclusions drawn, actual results may differ materially from those currently anticipated in such statements. For such statements, we claim the safe harbor.

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.

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