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September 15, 2011
Champion Minerals' Drillhole LM11-09 Intersects 359m Grading 30% Total Iron at the Moire Lake Project in Cluster 1 of the Fermont Holdings
- Drillhole LM11-10 intersects 249.5m grading 22.3% Total Iron including an interval of 130.7m grading 29.1% Total Iron
TORONTO, ONTARIO--(Marketwire - Sept. 15, 2011) - CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02) ("Champion", or the "Company") is pleased to provide an update of drilling results from the Company's Moire Lake Project in Cluster 1 of the Fermont Holdings in north-eastern Quebec. The Moire Lake Project is strategically located adjacent to ArcelorMittal's operating Mont Wright Mine and Concentrator Complex and 8km south of existing rail transport infrastructure. Drillhole LM11-09 intersected 358.9 metres ("m") grading 30.3% Total Iron ("FeT") on the southeast side of the historic Lac Moire Occurrence(1), confirming the continuity of the iron-rich Sokoman Formation around the southern fold closure. Drillhole LM11-10, located on the southwest side of the historic Lac Moire Occurrence intersected 249.5m grading 22.3% FeT including an interval of 130.7m grading 29.1% FeT. Results from hole LM11-10 successfully validate a historic intersection of 206.1m grading 24.1% FeT including an interval of 143.3m grading 34.1% FeT reported for drillhole QE61(2). Table 1 provides a list of select composite assay results for holes LM11-06A to LM11-10 inclusive.
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TABLE 1 - SELECTED(i) COMPOSITE ASSAY RESULTS (HOLES LM11-06A to LM11-10)
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HOLE
HOLE-ID LENGTH AZIMUTH DIP FROM TO INTERVAL(ii) GRADE(iii)
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metres degrees degrees metres metres metres Total Fe%
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LM11-06A 352 60 -55 3.0 95.7 92.7 17.4
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and 133.0 179.7 46.7 16.8
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and 197.9 232.2 34.3 18.2
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