TORONTO, ONTARIO--(Marketwired - April 9, 2014) - Champion Iron Limited (TSX:CIA)(ASX:CIA) ("Champion") announces with deep regret the passing of Mr. Richard (Dick) Melville Wright on April 5, 2014, after a period of illness. Mr. Wright was an active member of Champion's Board of Directors until his untimely death and his contributions and experience will be missed.

Appointment of Directors and Changes to the Board

Champion announces the appointments of Messrs. Gary Lawler and Andrew Love to its Board of Directors, effective immediately.

Mr. Lawler is a leading Australian corporate lawyer who is currently a partner of Ashurst Australia. He brings a wealth of experience to Champion's Board, having previously acted in a director capacity with both Dominion Mining Limited and Riversdale Mining Limited.

Mr. Love is a Chartered Accountant with more than 30 years experience in corporate recovery and reconstruction in Australia. He has had over 25 years of public company Board experience across a broad range of industry sectors but in particular he has worked in the resources and mining industry. Mr. Love has been a director of both public and private companies in the energy and mining industries and was previously Deputy Chairman of Riversdale Mining Limited.

Champion also announces the resignation of Mr. Niall Lenahan as a Director of the Company, effective immediately. Mr. Lenahan remains Company Secretary-Australia.

With the aforementioned changes Champion's Board is comprised of the following seven (7) members: Michael O'Keeffe (Chairman), Gary Lawler, Andrew Love, Thomas Larsen, Donald A. Sheldon, Paul Ankcorn and James Wang.

Director of the Company Thomas Larsen also serves as Champion's Chief Executive Officer. Champion's other officers are: Miles Nagamatsu (Chief Financial Officer), Alexander Horvath (Chief Operating Officer), Niall Lenahan (Company Secretary-Australia) and Jorge Estepa (Vice President and Corporate Secretary-Canada).

Change in Financial Year End and Reporting Currency

Following the completion of the previously announced business combination with Champion Iron Mines Limited, the Board has determined that it would be more efficient to adopt a financial reporting date corresponding with a 31 March fiscal year end. This change takes effect in the 2014 financial year and accordingly, the Company will be reporting its results for the period ended 31 March, 2014 and annually thereafter.

The Company also reports that, effective immediately, it has adopted Canadian Dollars (C$) as its reporting currency. This change will enable Champion to report its financial results in Canadian currency, which is where its major assets are located.

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