Champion Minerals Inc.

Champion Minerals Inc.

April 28, 2008 14:35 ET

Champion Minerals Expands Its Iron Property Holdings Through Acquisition of Pterodactyl Claims, Newfoundland

TORONTO, ONTARIO--(Marketwire - April 28, 2008) - CHAMPION MINERALS INC. ("Champion" or the "Company") (TSX VENTURE:CHM) is pleased to announce that the Company has signed a letter agreement to acquire the Pterodactyl Claims consisting of 16 claims in eastern Labrador, adjacent to the Company's wholly-owned Attikamagen Iron Property, located 15 km E-NE of Schefferville, Quebec (the "Acquisition").

Champion has agreed to acquire a 100% interest in the Pterodactyl Claims from an arm's length vendor (the "Vendor"), by the issuance to the Vendor of 100,000 fully paid and non-assessable common shares of the Company. The shares issued pursuant to the Acquisition are subject to the receipt of all required regulatory approvals and will be subject to a four month hold period.

The Pterodactyl Claims represent a strategic addition to the Company's property holdings in Western Labrador. This claim group hosts the favorable Sokoman Formation that is tightly folded and repeats the favorable horizon four times within a 6 square kilometre area. An historical geological report indicates that this folding and structural thickening with associated fracture systems has the potential to host enriched iron ore (Burgess, L.C.N. 1951). The Pterodactyl Claims will become an integral part of Champion's 2008 exploration program.

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 and Quebec. The Company's projects include the Powderhorn and Gullbridge Base Metal Projects located in central Newfoundland, and the Attikamagen Iron Property and the Pterodactyl Claims, located in western Labrador/northeastern Quebec.

The technical content of this press release has been reviewed by Mr. Jeff Hussey, P. Geo., Vice-President Exploration for Champion, and a Qualified Person under the guidelines of National Instrument 43-101.

Statements in this 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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Champion Minerals Inc.
    Thomas G. Larsen
    President & CEO
    (416) 866-2200
    (416) 361-1333 (FAX)
    Champion Minerals Inc.
    Jorge Estepa
    Vice-President and Secretary-Treasurer
    (416) 866-2200
    (416) 361-1333 (FAX)