CHM Champion Minerals Inc.

CHAMPION MINERALS INC. ("Champion" or the "Company") (TSX VENTURE: CHM)(FRANKFURT: P02) is pleased to announce it has engaged BBA Inc. ("BBA") to commence a Preliminary Assessment Study of the Bellechasse and Fire Lake North Iron Prospects ("Bellechasse" and "Fire Lake North") from the Fermont Iron Property. The Preliminary Assessment Study is expected to be completed by Q4-2010. BBA is an independent Canadian consulting engineering firm operating internationally. Its team is composed of highly-qualified experts in several engineering disciplines including mining, metallurgical processes and construction management. BBA has produced a preliminary assessment work and feasibility studies, and detailed engineering at Consolidated Thompson Iron Mines ("CLM") Bloom Lake Mine located 40km north of Bellechasse and Fire Lake North.

On November 19, 2009, Champion announced the results of a National instrument ("NI") 43-101 Technical Report on Mineral Resources from Bellechasse and Fire Lake North carried out by P&E Mining Consultants Inc. ("P&E"). P&E estimated a combined 503.3 million tonnes grading 28.0% Iron in the Inferred Mineral Resources(i) category divided as follows: 215.1 million tonnes grading 28.7% Iron at Bellechasse and 288.2 million tonnes grading 27.5% Iron at Fire Lake North.

Mr. Thomas Larsen, President and CEO of Champion stated, "With Champion recently completing more than 7,000m of a 15,000m planned drill program, we are taking the Fermont Iron Property to the next level with BBA initiating the Preliminary Assessment Study at Bellechasse and Fire Lake North, and we eventually anticipate initiating similar studies for the Harvey-Tuttle Claim Block. We believe Harvey-Tuttle has the potential to ultimately host resources in excess of 1 billion tonnes of iron for which an economic evaluation could eventually justify a standalone type operation."

Mr. Steeve Fiset, President and CEO of BBA Inc stated, "BBA is pleased that Champion Minerals has retained our services recognizing our firm's expertise in the iron ore industry. BBA's team will assist Champion in developing its Preliminary Assessment Study using its experience in developing large projects and its knowledge of the regional conditions in the largest iron ore camp in Canada."

The Fermont Iron Property

Champion has under option a land package of 384.6 km2 in 16 strategic claim blocks grouped into 3 clusters comprising the Property. Champion had 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 a current MRE, there are 6 remaining claim blocks that host historical Mineral Resources of 578 million tonnes grading 30.4% Iron (Paquet, 1963; Ministere des ressources naturelles et de la faune Quebec 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.

The Company is currently in the second year of an option agreement (the "Agreement") with Fancamp Exploration Ltd. (TSX VENTURE: FNC) and the Sheridan Platinum Group Ltd. (the "Vendors") on the Property. Pursuant to the Agreement, Champion can earn a 65% interest in all 16 claim blocks within the Property by expending C$6 million in staged exploration and development work expenditures, making cash payments totalling C$1 million, and issuing 2.9 million shares, all over a 4-year period, with the Vendors retaining a 3% Net Smelter Returns royalty, one third of which may be purchased by Champion for C$3 million. The Agreement also includes a right of first refusal on the Lamelee Lake Claim Block. Once Champion has completed its earn-in, a 65-35 joint venture would be formed between Champion and the Vendors.

About Champion Minerals

Champion is an exploration Company focused on discovering and developing significant metal resources in eastern Canada, particularly in the provinces of Quebec and Newfoundland & Labrador. The Company's projects include the Attikamagen Iron Property in northeastern Quebec and western Labrador, the Fermont Iron Property in northeastern Quebec, and the Powderhorn/Gullbridge Base Metal Projects in central Newfoundland. Please visit Champion's website at www.championminerals.com.

The technical information in this news release was prepared by Jean Lafleur, P. Geo., Director and Technical Advisor to the President and CEO of Champion, and is a Qualified Person under NI 43-101 standards.

(i) Inferred Mineral Resources are that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from drill holes and outcrops. There has been insufficient exploration to define any of the resources as Indicated or Measured Mineral Resources and there is no guarantee that further exploration will upgrade the Inferred Mineral Resources to Indicated or Measured Mineral Resources. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of Inferred Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.

The statements made in this news release that are not historical facts are "forward-looking statements" and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these "forward-looking" statements.

Neither the 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 news release.

Contacts: CHAMPION MINERALS INC. Thomas G. Larsen President and CEO (416) 866-2200 CHAMPION MINERALS INC. Jorge Estepa Vice-President (416) 866-2200 www.championminerals.com