Champion Minerals Inc.

Champion Minerals Inc.

September 08, 2011 07:30 ET

Champion Minerals Appoints Marc Duchesne as Project Finance Advisor

TORONTO, ONTARIO--(Marketwire - Sept. 8, 2011) - Champion Minerals Inc. ("Champion" or the "Company") (TSX:CHM)(FRANKFURT:P02) is pleased to announce that Marc Duchesne has been appointed the Company's Project Finance Advisor, effective immediately. Mr. Duchesne will work closely with Champion's senior management and with Richard Quesnel, recently appointed as Senior Technical Advisor and Head of the Company's Advisory Board.

Mr. Duchesne has over 25 years of senior financial and management experience with major Quebec-based companies, most recently as Senior Vice President of Finance for Consolidated Thompson Iron Mines Inc. ("Consolidated Thompson"), which was acquired by Cliffs Natural Resources Inc. earlier this year. Mr. Duchesne joined Consolidated Thompson in 2006 and actively participated in all phases of its growth including the successful construction and production ramp-up of the Bloom Lake iron ore mine, located in the Labrador Trough in Quebec, Canada. In addition to overseeing financial reporting, controllership and budget planning duties, Mr. Duchesne directed and supervised project capital expenditures during the crucial mine development phase, and additionally, he and the Consolidated Thompson team raised over $850 million in financing, negotiated and concluded a $240 million strategic investment by Wuhan Iron and Steel Company ("WISCO"), one of China's largest steel producers, as well as off-take agreements with WISCO, Worldlink Resources of China and SK Networks Co., a subsidiary of the third largest Korean conglomerate, SK Group.

Mr. Duchesne has also held senior financial positions with other major Quebec-based companies, including Director of Finance for Domtar Inc. and Controller and Director of Corporate Finance for Tembec Inc. Mr. Duchesne is a Chartered Accountant and a Certified Management Accountant.

Thomas Larsen, Champion's President and C.E.O., stated, "We are very fortunate to have been able to attract a very talented and experienced financial professional to our Champion team. Mr. Duchesne's broad experience in corporate and public finance and his recent success in managing project costs and financings at Consolidated Thompson will benefit Champion greatly as we progress our Fermont Projects through development to feasibility and production."

About Champion Minerals Inc.

Champion Minerals is an iron ore exploration and development company, with offices in Montreal and Toronto, focused on developing its significant iron ore resources in the provinces of Quebec and Newfoundland & Labrador. The Company's projects include: the Fermont Holdings in Quebec, jointly held by Champion (82.5% interest) and Fancamp Exploration Ltd. (17.5% interest); and the Attikamagen Iron Property in Quebec and Labrador. Champion's Fermont Property Holdings, including the flagship Fire Lake North Project, are located in Canada's major iron ore producing district among three producing mines. Champion's team and advisory board includes mining and exploration professionals with substantial iron ore expertise to effectively advance the Fire Lake North Project into production.

Please visit Champion's website at

Statements made in this news release that are "forward-looking statements" not historical facts. Readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results may vary materially from those stated herein.

Contact Information

  • Champion Minerals Inc.
    Thomas G. Larsen
    President and CEO
    (416) 866-2200

    Champion Minerals Inc.
    Jorge Estepa
    (416) 866-2200

    Champion Minerals Inc.
    Salisha Hosein
    Director, Investor Relations
    (416) 866-2200
    (416) 361-1333 (FAX)