Attikamagen Iron Formation and Project

The Property is comprised of 52 mineral exploration claims in western Labrador, located 15 km E-NE of Schefferville, Quebec. Recent work in 2007 completed by Champion consisted of an airborne geophysical survey at Attikamagen, as well as a preliminary surface mapping and sampling program. The surface sampling program was completed to ground reference samples for correlation with the geophysical data.

The airborne magnetic response correlates well with surface geological mapping, and is useful in delineating the magnetite iron formation and wall rock contacts in talus or overburden covered areas where there is an absence of bedrock exposure. The total field and first vertical derivative magnetic data indicates a series of NW-SE trending strongly magnetic horizons linked with the iron formations and have a surface expression ranging in true thickness from 150 to 500 meters. The mineralization may extend over 8 km beneath shallow overburden based on the magnetic response, with dips ranging from near vertical to 80� to the NE.

Although not compliant with current 43-101 resource estimation standards, these types of iron formations can be estimated volumetrically by utilizing a combination of sampling and magnetic survey responses to estimate mineral resources with remarkable accuracy on a tonnes per vertical meter basis. Exploration drilling is required primarily to determine the extent and iron grades of the iron formations and provide samples for metallurgical testing.

The average total iron content from 21 grab samples taken by Champion in 2007 was 37.7% within a range of 22.60% to 49.30%. Some 11 samples contain 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.

The 2008 exploration program and scoping studies will be supervised by Mr. Jeff Hussey, P. Geo., Champion's Vice-President Exploration. The information contained in this release was prepared and revised by Mr. Jean Lafleur, P. Geo., Director and Technical Advisor to the Champion Minerals. Both individuals are Qualified Persons under National Instrument 43-101 standards.

About Champion Minerals Inc.

Champion is a junior exploration Company focused on discovering and developing significant metal resources in eastern Canada, particularly in Newfoundland-Labrador. The Company currently has two properties, the Powderhorn Base Metal Project located in central Newfoundland, and the Attikamagen Lake Iron Property, located in eastern Labrador.

For further information please contact:

Thomas G. Larsen, President and CEO or Jorge Estepa, Vice President
(416) 866-2200 (tel) or (416) 361-1333 (fax)