Champion Iron buys remaining stake in Powderhorn

Champion Iron buys remaining stake in Powderhorn
Ticker Symbol: C:CHM

Champion Iron Mines Ltd. (C:CHM)
Shares Issued 119,901,465
Last Close 7/25/2013 $0.19
Friday July 26 2013 - News Release

Mr. Thomas Larsen reports

CHAMPION IRON INCREASES ITS INTEREST IN THE POWDERHORN AND GULLBRIDGE BASE
METAL PROJECTS TO 100%

Champion Iron Mines Ltd. has acquired from Copper Hill Resources Inc. the
vendor's remaining 30-per-cent and 49-per-cent interests in the joint
ventures covering the Powderhorn and Gullbridge base-metal projects,
respectively, both of which are located in central Newfoundland.

Under the terms of the agreement, Champion has issued to the vendor one
million common shares from treasury, and has agreed to the vendor retaining
a 1-per-cent royalty in the Gullbridge property subject to the
corporation's right to buy down the royalty in its entirety at any time by
electing to either pay the vendor $1-million or issue to the vendor a
further one million common shares. Champion was also granted the right of
first refusal on any sale, transfer, mortgage or grant of security
interest, or any other disposition or encumbrance in the royalty, in whole
or in part, by the vendor, at any time.

The common shares issued in connection with this agreement are subject to a
resale restriction for four months plus one day from the closing date.

(c) 2013 Canjex Publishing Ltd.

About Champion Iron Mines Limited

Champion is an iron exploration and development company with offices in
Montreal and Toronto, and is focused on developing its significant iron
resources in the provinces of Québec and Newfoundland & Labrador. Champion
holds a 100% interest in the Fermont Iron Holdings and a 44% interest in
the Attikamagen Iron Project located in both Québec and Labrador. The
Attikamagen Project is under option to Labec Century Iron Ore Inc.
('Labec'), a subsidiary of Century Iron Mines Corp., under which
Labec can earn up to a 60% interest. Labec has requested a transfer of a
further 4% to increase Labec's holding to 60% under its option agreement
with Champion and to further increase Labec's interest and dilute
Champion's interest pursuant to ongoing exploration programs. Champion is
undertaking its due diligence investigations with respect to the requests.

Champion's Fermont Iron Holdings, including its flagship Consolidated Fire
Lake North Project, are located in Canada's major iron ore producing
district, in close proximity to five producing iron mines, existing
transportation and power infrastructure. Consolidated Fire Lake North is
located immediately north of Arcelor Mittal's operating Fire Lake Mine and
60 km south of Cliffs Natural Resources Inc.'s Bloom Lake Mine in
northeastern Québec. Champion's management and advisory board includes
mining and exploration professionals with the mine development and
operations experience to build, commission, and operate the future
Consolidated Fire Lake North mine.

For further information please contact:

Thomas G. Larsen, President and CEO, or Jorge Estepa, Vice President at
Tel: (416) 866-2200.

For additional information on Champion, please visit our website at
www.championironmines.com.

This press release has been prepared by Champion Iron Mines Ltd. and no
regulatory authority has approved or disapproved the information contained
herein.


End of Corporate News