Celtic Minerals Ltd. announces private placement



    
    Trading Symbol:  CME:TSX-VEN
    Shares Outstanding: 75,825,676
    

    CALGARY, Jan. 8 /CNW/ - Celtic Minerals Ltd. (CME: TSX-VEN) has filed its
intention to conduct a non-brokered private placement offering. This offering
will consist of up to 10,000,000 units of the company at a price of $0.10 per
unit, for gross proceeds of up to $1.0 million. Each unit will comprise of one
common share of the company and one-half of one share purchase warrant. Each
whole share purchase warrant will entitle the holder to acquire an additional
common share of the company at a price of $0.15 for a period of 24 months from
the closing date.
    Celtic has previously indicated management's intention to evaluate a
select number of projects in SE Asia, which have been identified through
industry contacts. Proceeds from the transaction will be allocated for general
corporate purposes and the further assessment of a potential prospect in Laos.
    Under the terms of the financing, Celtic may compensate parties with
finders' fees payable in cash and securities for the placement of securities
in accordance with TSX Venture Exchange policies.
    The closing of the private placement is anticipated to occur on or before
January 31, 2009. The private placement is subject to the receipt of all
required regulatory approvals. All of the shares issued pursuant to the
offering and shares which may be acquired upon the exercise of the
compensation warrants will be subject to a hold period of four months from the
date of closing.
    Celtic encourages the public to visit its website at
www.celticminerals.com for updated information on its properties or to email
us at info@celticminerals.com to be added to Celtic's e-mail list for press
releases and updates.

    
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.
    

    %SEDAR: 00005786E




For further information:

For further information: Kevin Flaherty, Chairman and CEO, Celtic
Minerals Ltd., Phone: (403) 261-2890, Fax: (403) 265-2223,
kevin@celticminerals.com; Paul Lipoth, Celtic Minerals Ltd., Phone: (403)
261-2890 x.233, Fax: (403) 265-2223, paul@celticminerals.com

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CELTIC MINERALS LTD.

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