CHM Champion Minerals Inc.

CHAMPION MINERALS INC. (TSX VENTURE:CHM)(FRANKFURT:P02) ("Champion" or the
"Company") wishes to announce the new National Instrument ("NI") 43-101 Mineral
Resources Estimates (the "Mineral Resources") for the Fire Lake North Property
(the "Property") will be released prior to the end of September 2010, which will
coincide with the start-up of the next drilling campaign on the Property. 


The new Mineral Resources will integrate the 2010 winter drill campaign results
which yielded intersections of 171 metres grading 36.2% Total Iron (drill hole
FL10-21), 134 metres of 38.3% Total Iron (FL10-6), and 198 metres of 38.3% Total
Iron (drill hole FL10-24) (refer to the Champion news releases dated May 4, 2010
and May 18, 2010). The 2010 winter drill campaign was centered on the East Limb
and West Limb target areas which together with the Don Lake target, have already
yielded Inferred Resources(i) of 288.2 million tonnes grading 27.5% Total Iron
(refer to the Champion news release dated November 19, 2009).


Jeff Hussey, P. Geo., Champion's VP Exploration, stated, "Champion's Technical
Team has completed the compilation, synthesis and geological modeling of the
2009-2010 drill hole database and has forwarded the model to P&E Mining
Consultants (Brampton, Ontario), authors of the 2009 Mineral Resources Estimates
at the Fire Lake North and Bellechasse Claim Blocks, to calculate the new
Mineral Resources. We are of the opinion the widths and extent of the iron
mineralization encountered in the 2010 winter drilling may have a significant
impact on the new Mineral Resources. This iron oxide mineralization is composed
of the Fermont-style of mineralization known as "Quartz Specularite''. The
intersections contain a higher grade central portion that is generally above 40%
and very coarse grained 3 to 5 millimetre crystals, and it is this
mineralization being submitted for metallurgical testing. We look forward to the
new estimates." 


Mr. Hussey added, "Recent fieldwork identified a large quartz specularite
outcrop in the Northeast Zone that will be mapped, sampled and used for a bulk
sample location. The Northeast Zone shows promising upside. Champion will be
drilling again at Fire Lake North and the campaign will consist of a staged
15,000 metre drill program, designed to delineate the Northeast Zone and upgrade
currently defined Mineral Resources towards Measured and Indicated Resources(i)
as we advance the Property through the Preliminary Economic Assessment stage
towards Feasibility under the guidance of BBA Inc., an independent
Canadian-based consulting engineering firm with international operations.
Permitting is underway for the camp and drill hole set-ups."


Champion continues to explore the other Cluster 2 claim blocks, including the
ongoing 7,000 m drill campaign on Harvey-Tuttle, with the objective of outlining
several 200 to 500 million tonne lenses. The Fire Lake North iron formations
continue on the adjacent Bellechasse Claim Block where Champion previously
outlined Inferred Resources and when combined with the Fire Lake North estimate
total 503.3 million tonnes grading 28.0% Total Iron in Inferred Resources(i),
all in close proximity to ArcelorMittal's road-rail infrastructure and Fire Lake
Mine (341 million tonnes grading 33.4% Iron) that supplies ore to the Mont
Wright Mine and Concentrator Complex located approximately 50 km to the north.


(i) Inferred Resources are part of a National Instrument 43-101 Mineral Resource
for which the estimated quantity and grade of a deposit, or a part thereof, that
is determined on the basis of limited sampling, but for which there is
sufficient geological information and a reasonable understanding of the
continuity and distribution of metal values to outline a deposit of potential
economic merit. There is no guarantee that further exploration will upgrade the
Inferred Resources to Indicated and/or Measured Resources. Indicated Resources
are part of a National Instrument 43-101 Mineral Resource for which the
estimated quantity and grade of that part of a deposit for which the continuity
of grade, together with the extent and shape, are so established that a reliable
estimate of grade and tonnage can be made. Measured Resources are that part of a
National Instrument 43-101 Mineral Resource for which the estimated quantity and
grade of that part of a deposit for which the size, configuration and grade have
been well established by observation and sampling of outcrops, drill holes,
trenches and mine workings. 


The Fermont Iron Property 

Champion now has an 82.5% direct interest, with Fancamp Exploration Ltd. (TSX
VENTURE:FNC) holding 17.5%, in the 385 km2 Fermont Property consisting of 16
strategic claim blocks grouped into three clusters, termed Clusters 1, 2 and 3.
Champion previously announced 8 claim blocks with historical Mineral Resources
of 694 million tonnes grading 30.4% Iron, but now after 2 of the 8 claim blocks
(Bellechasse and Fire Lake North) host current Mineral Resources, there are 6
remaining claim blocks that host historical Mineral Resources of 578 million
tonnes grading 30.4% Iron (Paquet, 1963; MRNFQ Assessment File GM 13035). The
Mineral Resources are strictly historical in nature and are non-compliant to NI
43-101 Mineral Resources and Mineral Reserves standards, and should therefore
not be relied upon. A Qualified Person has not done sufficient work to upgrade
or classify these historical Mineral Resources as current NI 43-101 compliant. 


About Champion Minerals Inc. 

Champion is an exploration Company focused on discovering and developing
significant metal resources in eastern Canada, particularly in the provinces of
Quebec and Newfoundland & Labrador. The Company's projects include the
Attikamagen Iron Property in northeastern Quebec and western Labrador, the
Fermont Iron Property in northeastern Quebec, and the Powderhorn/Gullbridge Base
Metal Projects in central Newfoundland. Please visit Champion's website at
www.championminerals.com. 


Fully funded, having raised over $C20 million since November 2009, Champion is
aggressively exploring the Fermont Iron Property with the aim of converting the
iron mineralization to fully compliant Mineral Resources.


The technical information in this news release was prepared, revised and
approved by Jeff Hussey, P. Geo., VP Exploration of the Company and Jean
Lafleur, P. Geo., Director and Technical Advisor to the President and CEO of
Champion. Both individuals are Qualified Persons under NI 43-101 standards. 


Statements made in this news 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.

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