Champion Minerals Inc.
TSX VENTURE : CHM

Champion Minerals Inc.

December 24, 2007 12:02 ET

Champion Minerals Inc. Announces Financing

TORONTO, ONTARIO--(Marketwire - Dec. 24, 2007) -

NOT FOR DISSEMINATION IN THE UNITED STATES

CHAMPION MINERALS INC. ("Champion" or the "Company") (TSX VENTURE:CHM) announces that it intends to proceed with a non-brokered private placement of up to 1,250,000 Flow-Through common shares (the "FT Shares") to be issued on a "flow-through" basis under the Income Tax Act (Canada) at a price of 60 cents per FT Share, for gross proceeds to the Company of $750,000 (the "Private Placement"). The Company intends to use the proceeds from the Private Placement to finance continued exploration on the Company's properties in Newfoundland and Labrador. All securities to be issued pursuant to this Private Placement will be subject to a four-month plus one day hold period.

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.

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)
    or
    Champion Minerals Inc.
    Jorge Estepa
    Vice-President
    (416) 866-2200
    (416) 361-1333 (FAX)
    Website: www.championminerals.com