Celeste Mining Corp.

TSX VENTURE : C


Celeste Mining Corp.

April 15, 2014 17:20 ET

Celeste Provides Default Status Report

TORONTO, ONTARIO--(Marketwired - April 15, 2014) - Celeste Mining Corp. (TSX VENTURE:C) ("Celeste" or the "Company") announces that it has been granted a Management Cease Trade Order (the "MCTO") by its principal regulator, the Alberta Securities Commission ("ASC"). As previously announced on March 28, 2014, a MCTO application was made by the Company in respect of the late filing of the Company's annual financial statements, accompanying Management's Discussion and Analysis and related CEO and CFO Certifications of annual filings for the financial year ended November 30, 2013 (collectively, the "Required Filings").

The MCTO restricts all trading in securities of the Company, whether direct or indirect, by the Chief Executive Officer, the Chief Financial Officer and the directors of the Company, until such time as the Required Filings have been filed by the Company. All other parties are permitted to freely trade in the Company's securities.

As previously announced, the delay in completing the Required Filings is attributable to the additional time and efforts spent securing an additional injection of working funds for the Company to complete an audit of its financial statements. The Company's board of directors and its management confirm that they are working expeditiously with the Company's auditors to meet the Company's obligations relating to the filing of the Required Filings, and the Company continues to expect to file the Required Filings on or before May 31, 2014.

The Company confirms that it will satisfy the provisions of the alternative information guidelines under section 4.4 of National Policy Statement 12-203 respecting Cease Trade Orders for Continuous Disclosure Defaults, for so long as the Required Filings are outstanding.

The Company confirms that there are no insolvency proceedings against it as of the date of this news release. The Company also confirms that there is no other material information concerning the affairs of the Company that has not been generally disclosed as of the date of this news release.

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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