Champion Iron Limited Announces Annual General Meeting Voting Results

August 19, 2016

MONTREAL, QC--(Marketwired - August 19, 2016) - Champion Iron Limited (CIA.AX) (CIA.AX) ("Champion") advises that at an Annual General Meeting of the company's shareholders (the "Meeting") which was held in Montreal, Quebec on August 18, 2016, the following resolutions were passed by the requisite majorities by a vote by way of show of hands as follows:

Notes: (1) Represents votes held directly or indirectly by members of Champion's Board of Directors
(2) Represents votes held directly or indirectly by the named individual Director of Champion

At the Meeting the total ordinary shares represented in person or by proxy was 226,246,693 of the 385,934,339 issued and outstanding ordinary shares representing approximately 58.62%.

For further details visit the Company's filings on SEDAR at www.sedar.com.

Jorge Estepa
Corporate Secretary

ABOUT CHAMPION IRON LIMITED

Champion has been working on the development of iron ore deposits in the Labrador Trough for more than 10 years through acquisition of tenements, geological evaluation and development of a Feasibility study (Fire Lake North deposit). The management team has a vast experience from geotechnical work to green field development, brown field management including logistics development and financing of all stages in the mining industry.

Prior to the acquisition of Bloom Lake, the main focus of Champion's activities, holding over 3 billion tons of high quality iron ore resources, was concentrated on the effort to achieve an economical long term access from mine to ship.

Following the acquisition of Bloom Lake the Company's main focus is to implement upgrades to the mine and processing infrastructure it now owns whilst advancing projects associated with improving access to global markets. This includes progressing rail and port infrastructure initiatives with government and other key industry and community stakeholders.

The Government of Québec has granted CAD $20 million for the feasibility study of a new rail linking Fire Lake / Bloom Lake area to the port of Sept-Îles. This study is being managed by Champion, and is expected to be finalised in 2016.

For additional information, please visit our website at www.championiron.com.

This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about planned operations at the Company's projects, including its joint venture projects. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including the risks identified in Champion's annual information forms, management discussion and analysis and other securities regulatory filings by Champion on SEDAR (including under the heading "Risk Factors" therein). There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. All of Champion's forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of Champion's management and information available to management as at the date hereof. Champion disclaims any intention or obligation to update or revise any of its forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

This press release has been prepared by Champion Iron Limited and no regulatory authority has approved or disapproved the information contained herein.