NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Celeste Mining Corp. (TSX VENTURE:C) ("Celeste" or the "Company") announces
today that the Board of Directors has elected to terminate Alan Shoesmith as
President and Chief Executive Officer of the Company under the terms of Mr.
Shoesmith's Executive Services Agreement. Mr. Shoesmith will continue to serve
as a director of the Company. Mr. Richard Kelertas has been appointed interim
CEO. 


"We wish to thank Mr. Shoesmith for his service and contributions to the
Company," commented Richard Kelertas, the interim CEO of the Company. 


The Company also announces its decision to review and evaluate cost cutting
measures including but not limited to, temporarily halting its exploration and
development activities at the South Crofty Mine. The strategic review is a
result of deteriorating equity markets, the financial position of the Company,
operational complexities and higher than anticipated exploration and development
expenses at the South Crofty Mine. Management continues to actively engage
strategic partners in an effort to explore alternative funding strategies, which
may include a brokered convertible financing. 


If the Company and its partners cannot agree on such cost cutting measures, the
Company may elect not to contribute further expenditures which could result in
dilution to its interest in the South Crofty Mine. 


ABOUT CELESTE

Celeste is a Canadian corporation currently focused on the acquisition of an
interest in Cornish Minerals Limited (a UK registered company) which controls
mining rights in the historic Cornish mining region in Cornwall, England,
including the South Crofty Mine as announced in a news release dated May 25,
2011. In addition, Celeste continues to assess other tin, copper and copper-gold
properties for exploration and development opportunities.


Celeste shares trade on the TSX Venture Exchange under the symbol C. Celeste's
website can be accessed at www.celestemining.com.


This news release does not constitute an offer for sale of securities in the
United States of America.


Caution Concerning Forward-Looking Information

Certain statements contained in this news release constitute "forward-looking
statements" as such term is used in applicable Canadian and US securities laws.
These statements relate to analyses and other information that are based on
forecasts of future results, estimates of amounts not yet determinable and
assumptions of management. In particular, there is no certainty that the
additional assays from the 2011 and 2012 drilling program or future drill
programs or the formalizing next steps will identify additional resources and
other factors and events described in this news release should be viewed as
forward-looking statements to the extent that they involve estimates thereof.
Any statements that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions or future
events or performance (often, but not always, using words or phrases such as
"expects" or "does not expect", "is expected", "anticipates" or "does not
anticipate", "plans, "estimates" or "intends", or stating that certain actions,
events or results "may", "could", "would", "might" or "will" be taken, occur or
be achieved) are not statements of historical fact and should be viewed as
"forward-looking statements". Such forward looking statements involve known and
unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be materially different
from any future results, performance or achievements expressed or implied by
such forward-looking statements. Such risks and other factors include, among
others, identifying additional resources, availability of capital to fund
exploration projects; political, social and other risks inherent in carrying on
business in a foreign jurisdiction and such other business risks as discussed
herein and other publicly filed disclosure documents. Although the Company has
attempted to identify important factors that could cause actual actions, events
or results to differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events or results not
to be as anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate as actual results and future events could
vary or differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
statements contained in this news release.


Forward looking statements are made based on management's beliefs, estimates and
opinions on the date the statements are made and the Company undertakes no
obligation to update forward-looking statements and if these beliefs, estimates
and opinions or other circumstances should change, except as required by
applicable law.


This news release contains forward-looking statements based on assumptions,
uncertainties and management's best estimates of future events. When used
herein, words such as "intended" and similar expressions are intended to
identify forward-looking statements. Forward-looking statements are based on
assumptions by and information available to the Company. Investors are cautioned
that such forward-looking statements involve risks and uncertainties. Actual
results may differ materially from those currently anticipated. The
forward-looking statements contained herein are expressly qualified by this
cautionary statement.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Celeste Mining Corp.
Richard Kelertas
Interim CEO
+514-717-6256
r.kelertas@sympatico.ca
www.celestemining.com
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