Champion Minerals Inc.

Champion Minerals Inc.

May 16, 2008 18:05 ET

Champion Grants Stock Options

TORONTO, ONTARIO--(Marketwire - May 16, 2008) - CHAMPION MINERALS INC. (TSX VENTURE:CHM) ("Champion" or the "Company") announces that it has set a price of $0.70 per share for the grant of stock options to acquire up to 325,000 common shares of the Company (the "Stock Options"). The Stock Options have been granted to officers and consultants of the Company. Each Stock Option entitles the holder thereof to acquire one common share of the Company at an exercise price of $0.70 per common share prior to the close of business on May 16, 2013. The grant of the Stock Options is subject to regulatory approval.

The Company has also reduced the finder's fees paid to arm's length parties in connection with its recently-announced Attikamagen Option and Joint Venture Agreement to 100,000 common shares.

About Champion Minerals

Champion is a junior exploration Company focused on discovering and developing significant metal resources in eastern Canada, particularly in Newfoundland-Labrador. The Company's projects include the Powderhorn and Gullbridge Base Metal Projects located in central Newfoundland, and the Attikamagen Property, located in western Labrador/northeastern Quebec.

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
    (416) 866-2200
    (416) 361-1333 (FAX)