CHAMPION MINERALS INC. ("Champion" or the "Company") (TSX
VENTURE:CHM)(FRANKFURT:P02) is pleased to announce that with the completion of
$6 million in work expenditures, the payment of $400,000 and the issuance of
1,500,000 common shares of Champion, divided equally between Fancamp Exploration
Ltd. and The Sheridan Platinum Group Ltd. (the "Vendors"), it has completed the
required work commitment, aggregate cash payments of $1 million and the share
issuance of 2.9 million common shares of the Company, pursuant to the Fermont
Option and Joint Venture Agreement dated as of August 31, 2009 (the
"Agreement"). Subject to the Vendor's review of the notice and documentation,
the Company will be deemed to have earned an undivided 65% right, title and
interest in and to all of the claim blocks of the Fermont Iron Property covered
by the Agreement.


With Champion completing its earn-in, a 65%-35% joint venture will be formed
between Champion and the Vendors. Pursuant to the Agreement, the Vendors retain
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.


Warrant Exercise

Champion is also pleased to announce 1,787,500 common shares were issued by the
Company pursuant to the exercise of a series of $0.70 warrants with a June 5,
2010 expiry date. The Company received proceeds of $1,251,250 in connection with
the warrant exercise and the proceeds will be used by Champion for working
capital and to finance continued exploration programs on the Company's
properties.


About Champion Minerals Inc. 

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 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.
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