Celeste Copper Corporation

Celeste Copper Corporation

May 21, 2010 17:12 ET

Celeste Announces Extension of Option Pursuant to Exploration Agreement

CALGARY, ALBERTA--(Marketwire - May 21, 2010) - Celeste Copper Corporation (TSX VENTURE:C) ("Celeste" or the "Corporation") announces an additional 60-day extension of the expiry date for the option pursuant to the Exploration Agreement with Option to Purchase (the "Agreement") between Minera Alberta Chile Ltda. ("MACL"), Celeste and Peak Ridge Metal Equity Special Situation Fund ("PR Metal Equity SSF"), dated of October 17, 2008. On March 22, 2010, the Corporation announced that a 60-day extension has been granted to PR Metal Equity SSF. Since then, the Corporation has entered into discussions with PR Metal Equity SSF regarding a Memorandum of Understanding for the transfer of a number of mining claims.

Effective May 21, 2010, Celeste, MACL and PR Metal Equity SSF have executed an agreement to extend the expiry date for the option pursuant to the Agreement.

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.

Contact Information

  • Celeste Copper Corporation
    Shondell Sabad
    Chief Executive Officer and Director
    Celeste Copper Corporation
    Tomasz Kedzierski
    Chief Financial Officer