The Fermont Iron Property

Champion has an 82.5% direct interest, with Fancamp Exploration Ltd. (TSX VENTURE: FNC) holding 17.5%, in the 608 km2 Fermont Property consisting of 16 strategic claim blocks grouped into three clusters, termed Clusters 1, 2 and 3. Champion previously announced 8 claim blocks with historical Mineral Resources of 694 million tonnes grading 30.4% Iron, but now after 2 of the 8 claim blocks (Bellechasse and Fire Lake North) host current Mineral Resources there are 6 remaining claim blocks that host historical Mineral Resources of 578 million tonnes grading 30.4% Iron (Paquet, 1963; MRNFQ Assessment File GM 13035). The Mineral Resources are strictly historical in nature and are non-compliant to NI 43-101 Mineral Resources and Mineral Reserves standards, and should therefore not be relied upon. A Qualified Person has not done sufficient work to upgrade or classify these historical Mineral Resources as current NI 43-101 compliant.

Fully funded, having raised over $C 20 million since November 2009, Champion is aggressively exploring the Fermont Iron Property, including the ongoing 7,000 m drill campaign on Harvey-Tuttle, with the objective of outlining several 200 to 500 million tonnes lenses. The Fermont Iron Property hosts more than 200 kilometres of iron formation with potential to host Mineral Resources.