Champion Bear Resources Ltd.

Champion Bear Resources Ltd.

June 15, 2012 16:30 ET

Champion Bear Provides Update on North Range Properties, Sudbury, Ontario

CALGARY, ALBERTA--(Marketwire - June 15, 2012) - Champion Bear Resources Ltd. ("Champion Bear" or the "Company") (TSX VENTURE:CBA) provides an update on the property status of its Hess joint ventures (the "Hess JV") and Ermatinger joint venture (the "Ermatinger JV") located in the North Range footwall of the Sudbury Mining Camp, Ontario. The Company will not participate in the 2012 joint venture exploration work program currently underway by project operator Wallbridge Mining Company Limited. As such, the Company's interest in the projects has been reduced to 48.5% from 50.0% for the Ermatinger JV property and has reverted to a 1.5% royalty for the Hess JV. The Company maintains a 50% carried interest in the Parkin joint venture property located along the Parkin Offset Dyke in northeast Sudbury. Champion Bear continues to focus its exploration efforts on its advanced 100%-held Eagle Rock copper-nickel-platinum-palladium-gold and Plomp Farm gold properties, both located in the Dryden area of northwestern Ontario.

Champion Bear is a mineral exploration company focused exclusively on the historically prospective regions of Ontario. The Company's primary target is platinum group and precious metals and to a lesser extent polymetallic base metal and pegmatite-hosted tantalum deposits. Champion Bear's aim is to create shareholder value through selective property acquisition and joint venture followed by focused exploration emphasizing drilling. The Company has assembled a large land position in the Dryden and Sudbury areas.

This news release contains forward-looking statements concerning plans to locate new mineralization zones, the timing and composition of the exploration and surface work programs to be completed on certain of Champion Bear's mineral properties which are based on Champion Bear's current internal expectations, which may prove to be incorrect. These statements are not a guarantee of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties that are common to junior mineral exploration companies. These risks and uncertainties include, among other things, Champion Bear's need for additional funding to continue its exploration efforts, changes in general economic, market and business conditions; and competition for, among other things, capital and skilled personnel. The Company undertakes no obligation to update or revise any forward-looking statements except as required by applicable securities laws.

No regulatory authority has approved or disapproved the information contained in this news release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Champion Bear Resources Ltd.
    Richard D. Kantor
    Chairman and President
    (403) 229-9522
    (403) 229-9518 (FAX)