Champion Minerals Inc.

Champion Minerals Inc.

March 24, 2008 12:28 ET

Champion Minerals Expands Its Iron Property Holdings in Labrador and Quebec; Appoints Exploration Management Team

TORONTO, ONTARIO--(Marketwire - March 24, 2008) - CHAMPION MINERALS INC. ("Champion" or the "Company") (TSX VENTURE:CHM) is pleased to announce that it has expanded its property holdings adjacent to its wholly-owned Attikamagen Lake Iron Property ("Attikamagen") which is located in Labrador, near Schefferville, Quebec. With the staking of the Lake Attikamagen Extension Claim Block, which consists of 451 claims contiguous to and partially surrounding the 52 claim Attikamagen, Champion's Labrador property holdings have increased to 503 claims comprising 126 km2. On the Quebec side of the Labrador/Quebec border, adjacent to the northern portion of the Attikamagen Extension Claim Block, the Company staked an additional 29 claims, the Lac Sans Chef Quebec Claim Block, comprising 13.7 km2. Collectively, the Attikamagen, Attikamagen Extension Claim Block and Lac Sans Chef Quebec Claim Block cover 139.7 km2 and will be referred to as the Attikamagen Property.

Champion's recently completed airborne geophysics and surface sampling campaign at Attikamagen, in combination with a detailed review of the assessment work in the area led to the decision to stake the properties containing favourable iron formations. Little historical work has been performed on the newly acquired properties, but previous mapping by Hollinger North Shore Exploration Company in 1959 outlined taconitic iron formation and also enriched iron formations in outcrop, the direct shipping ore type that was previously mined in the Schefferville camp during its production era.

Champion is planning to perform detailed surface work and drilling along these favourable horizons, combined with mini-bulk sampling in order to quantify the higher quality iron mineralization at the Attikamagen Property.

Champion is also pleased to announce new appointments to its exploration management team. Mr. Martin Bourgoin, P. Geo. has been appointed Executive Vice President, Operations, Mr. Alexander Horvath, P. Eng, a director of Champion since September 2007, has been appointed Executive Vice President, Exploration, and Mr. Jeff Hussey, P. Geo. has been appointed as Vice President, Exploration. Champion President and CEO, Thomas Larsen, stated, "On behalf of the board of directors and management at Champion, I would like to welcome our new team members and look forward to their contributions in mineral exploration and strategic planning as Champion moves forward with its promising mineral property portfolio."

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 Base Metal Project located in central Newfoundland, and the Attikamagen Property, 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) 866-2600
    Champion Minerals Inc.
    Jorge Estepa
    (416) 866-2600
    (416) 361-1333 (FAX)