Champion Adopts New General By-Law No. 1 Including Provisions Requiring Advance Notice of Nominations of Directors, and

Champion Adopts New General By-Law No. 1 Including Provisions Requiring Advance 
Notice of Nominations of Directors, and Majority
Voting Policy 
TORONTO, ONTARIO -- (Marketwired) -- 07/17/13 -- CHAMPION IRON MINES
LIMITED ("CHAMPION" or the "Corporation")
(TSX:CHM)(OTCQX:CPMNF)(FRANKFURT:P02) is pleased to announce that
today it has adopted a new general operating by-law ("New By-law No.
1") which replaces and updates the Corporation's by-law originally
adopted in the 1980's. Champion believes that the adoption of New
By-law No. 1 is good corporate governance since a number of the
changes reflect current industry practice.  
In particular, New By-law No. 1 includes provisions similar to
by-laws and policies recently adopted by a number of other Canadian
public companies requiring advance notice to the Corporation for
nominations of directors by shareholders other than (i) through a
requisitioned meeting or (ii) by way of a shareholder proposal, in
each case pursuant to the provisions of the Business Corporations Act
(Ontario), (the "Advance Notice Provisions"). 
The Advance Notice Provisions are not intended to discourage director
nominations but rather to facilitate orderly and efficient meetings
at which directors are to be elected and to permit shareholders to
register an informed vote by allowing them to receive sufficient
information with respect to all director nominees and reasonable time
for appropriate deliberation. 
The Advance Notice Provisions provide shareholders, directors and
management of the Corporation with a clear framework for nominating
directors in an orderly and fair manner. The Advance Notice
Provisions fix a deadline by which shareholders of common shares of
the Corporation must submit a notice of director nominations to the
Corporation prior to any annual or special meeting of shareholders at
which directors are to be elected and set forth the information that
a shareholder must include in the notice to the Corporation for the
notice to be valid.  
In the case of an annual meeting of shareholders, notice to the
Corporation must be made not fewer than 30 and not more than 65 days
prior to the date of the annual meeting; provided, however, that in
the event that the annual meeting is to be held on a date that is
fewer than 50 days after the date on which the first public filing or
announcement of the date of the annual meeting was made, notice must
be made not later than the close of business on the 10th day
following such public filing or announcement. In the case of a
special meeting of shareholders (which is not also an annual
meeting), notice to the Corporation must be made not later than the
close of business on the 15th day following the day on which the
first public filing or announcement of the date of the special
meeting was made. 
By-Law No. 1, including the Advance Notice Provisions, is effective
immediately and will be placed before shareholders for confirmation
at Champion's annual and special meeting of shareholders to be held
on September 24, 2013. Since the 30 day deadline falls on a weekend,
notice in accordance with the Advance Notice Provisions of persons to
be nominated for election as directors at the September 24, 2013
meeting must be received by the Corporation no later than 5:00 p.m.
(Toronto time) on Monday, August 26, 2013. A copy of the New By-Law
No. 1 will be filed and available under Champion's profile at
www.sedar.com.  
Champion also announces that today the Board of Directors of the
Corporation (the "Board") adopted a majority voting policy which
requires that any nominee for election as a director who receives a
greater number of votes "withheld" from his or her election than
votes "for" such election, promptly tender his or her resignation to
the Board, to be effective upon acceptance by the Board. The
Corporation's Compensation and Nominating Committee will review the
circumstances of the election and make a recommendation to the Board
as to whether or not to accept the tendered resignation. The Board
must determine whether or not to accept the tendered resignation as
soon as reasonably possible and in any event within 90 days of the
resignation. Subject to any restrictions imposed by applicable
corporate or securities laws and regulations, the Board may fill any
resulting vacancy through the appointment of a new director. The
director who has tendered his or her resignation in accordance with
this policy may not participate in any committee or Board votes
concerning such resignation. The policy does not apply in
circumstances involving contested director elections. 
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
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. 
This press release has been prepared by Champion Iron Mines Limited
and no regulatory authority has approved or disapproved the
information contained herein. 
Contacts:
Champion Iron Mines Limited
Thomas G. Larsen
President and CEO
(416) 866-2200 
Champion Iron Mines Limited
Jorge Estepa
Vice President
(416) 866-2200
(416) 361-1333 (FAX)
www.championironmines.com