CHAMPION MINERALS CONDUCTS AIRBORNE GEOPHYSICAL SURVEY AND SURFACE SAMPLING ON ATTIKAMAGEN LAKE IRON PROPERTY NEAR SCHEFFERVILLE, QUEBEC

The total field and first vertical derivative magnetic data indicates a series of NW-SE trending strongly magnetic horizons. Field investigation confirms that these strong magnetic responses correlate well with the iron formations and have a surface expression ranging in true thickness from 150 to 500 meters. The mineralization can be visibly traced on surface over a minimum strike length of 5.5 km, with dips ranging from near vertical to 80� to the NE. The magnetic responses indicate the total strike length may extend over 8 km beneath shallow overburden cover.

The magnetic signature varies from non-magnetic to strongly magnetic. Past operators in the region attribute the magnetic lows to higher grade and softer iron oxides. The accepted theory of the origin of these softer iron oxides is that they are younger laterites formed from an older siliceous iron formation, rich in magnetic magnetite. Concentration of the iron is believed to be the result of weathering and groundwater interaction. The process leaches out the silica and concentrates iron as hematite-limonite, the non-magnetic component. Any future exploration on the Property should focus on determining the extent and grade of this material, since it would have a positive impact on economic scenarios of the mineralization.

A total of 2l surface grab samples were taken from the magnetic horizons. These samples were sent to ALS-Chemex Laboratory in Val-d'Or, Quebec. Samples were analyzed for total iron content and 24 additional major and minor elements using the XRF spectrometry (ME-XRF11). The average total iron content was 37.7% within a range of 22.60% to 49.30%.There are 11 samples with more than 40% total iron within the upper range of 40.30% to 49.30%.  Champion plans to complete metallurgical beneficiation testing on samples to determine whether a marketable concentrate can be produced from the Property.

Based upon the recent airborne geophysical survey, in combination with the robust demand and dramatic price increase for iron feed stocks, management is of the opinion that the Attikamagen Lake Iron Property warrants much more rigorous evaluation and exploration. Near term exploration work will include a detailed evaluation of the "taconites" over the 8 km strike length, from surface to 150 m vertical depth, in combination with advanced metallurgical testing.

Mr. Jean Lafleur, P. Geo., Director and Technical Advisor to Champion Minerals Inc., and the Company's Qualified Person under National Instrument 43-101 standards, prepared the technical information in this news release.