Champion Iron's Joint Venture Partner Files Preliminary Economic Assessment for the Joyce Lake DSO Deposit in their Attikamagen

Champion Iron's Joint Venture Partner Files Preliminary Economic Assessment for 
the Joyce Lake DSO Deposit in their Attikamagen
Project in the Labrador Trough 
TORONTO, ONTARIO -- (Marketwired) -- 05/10/13 -- CHAMPION IRON MINES
"Company") reports that Century Iron Mines Corporation ("Century")
issued a news release today announcing the filing on SEDAR of a
Preliminary Economic Assessment (the "PEA") for the Joyce Lake Direct
Shipping Ore Deposit (the "Joyce Lake DSO Deposit") located in
Labrador on the Attikamagan Iron Project, a joint venture project of
Champion and Century. The Joyce Lake DSO Deposit is located
approximately 15km northeast of Schefferville, Quebec, in the
Province of Newfoundland and Labrador. 
A copy of the PEA, dated May 8, 2013, is available under Century's
SEDAR profile at and will also be available on
Century's website at No independent qualified
person engaged by Champion has done sufficient work to analyze,
interpret, classify or verify Century's statements regarding the PEA
to determine the accuracy of the technical information announced by
Century. Accordingly, readers are cautioned against attributing those
statements to Champion. Champion is focussed on its Consolidated Fire
Lake North Project and does not consider the Joyce Lake DSO Deposit
or the Attikamagen Project to be a property material to the Company
within the meaning of NI 43-101. 
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 Quebec and Newfoundland &
Labrador. Champion holds a 100% interest in the Fermont Iron Holdings
located in Quebec and a 44% interest in the Attikamagen Iron Project
located in both Quebec and Labrador. The Attikamagen Project is under
option to Labec Century Iron Ore Inc. ("Labec"), a subsidiary of
Century Iron Mines Corporation, 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 Quebec. 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 additional information on Champion Iron Mines Limited, please
visit our website at  
This news release includes certain information that may constitute
"forward-looking information" under applicable Canadian securities
legislation. Forward-looking information includes, but is not limited
to, statements about planned operations at the Company's projects,
including its joint venture projects. Forward-looking information is
necessarily based upon a number of estimates and assumptions that,
while considered reasonable, are subject to known and unknown risks,
uncertainties, and other factors which may cause the actual results
and future events to differ materially from those expressed or
implied by such forward-looking information, including the risks
identified in Champion's annual information forms, management
discussion and analysis and other securities regulatory filings by
Champion on SEDAR (including under the heading "Risk Factors"
therein). There can be no assurance that such information will prove
to be accurate, as actual results and future events could differ
materially from those anticipated in such forward-looking
information. Accordingly, readers should not place undue reliance on
forward-looking information. All of Champion's forward-looking
information contained in this press release is given as of the date
hereof and is based upon the opinions and estimates of Champion's
management and information available to management as at the date
hereof. Champion disclaims any intention or obligation to update or
revise any of its forward-looking information, whether as a result of
new information, future events or otherwise, except as required by
This press release has been prepared by Champion Iron Mines Limited
and no regulatory authority has approved or disapproved the
information contained herein. 
Champion Iron Mines Limited
Thomas G. Larsen
President and CEO
(416) 866-2200 
Champion Iron Mines Limited
Jorge Estepa
Vice President
(416) 866-2200
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