Champion Minerals to initiate and complete report on mineral

Friday, 18 Sep 2009

Champion Minerals Inc announces that it has engaged P&E Mining Consultants Inc to initiate and complete a National Instrument 43-101 Technical Report on mineral resource estimates following the 2009 drilling program on the nearly contiguous Bellechasse and Fire Lake North Claim Blocks of the Fermont Iron Property.

Brampton based P&E Mining Consultants Inc is a well established geological and mine engineering firm specializing in the areas of NI 43-101 geological reports, mineral resource estimate technical reports, preliminary economic analysis and pre feasibility studies. In addition, they are affiliated with major Toronto-based consulting firms for the purposes of joint venturing with them in completion of definitive feasibility studies.

Their experience covers precious and base metals, uranium, nickel, molybdenum, cobalt, PGMs and iron for both underground and open pit deposits using the latest software packages. P&E staff and their 16 associates have experience in geological interpretation, 3-D geologic modeling, technical report writing, resource and reserve estimates, property evaluations, mine design, production scheduling, operating capital cost estimates and metallurgical engineering. P&E has worked on more than 85 projects worldwide.

Mr Thomas Larsen president & CEO of Champion said that "We are pleased to be associated with Mr Eugene Puritch and Dr Wayne Ewert and their team at P&E Mining Consultants Inc. The commissioning of the mineral resource estimates report is the first of several the Company intends on producing in the coming year as we continue to drill for iron resources in both the Fermont and the Schefferville areas. This NI 43-101 report evaluates the significant iron ore potential from Bellechasse and Fire Lake North Projects, part of 16 claim blocks totaling nearly 300km2 assembled over the last 18 months in the Fermont Iron Ore District. Further exploration and drilling will continue to validate the historic work and potentially delineate and/or increase the historical mineral resources into current NI 43-101 Mineral Resources. We continue to evaluate the large magnetic anomalies present within the 16 claim blocks at Fermont of this prized land holding in iron ore country."

Champion controls under option from Fancamp Exploration Limited and Sheridan Platinum Group Limited a land package of approximately 300km2 in 16 strategic claim blocks in 3 clusters from which 8 claim blocks host historic mineral resources of 694.4 million tonnes grading 30.4% iron refer to Champion news release dated September 1st 2009 and May 27th 2008.