Champion Iron Increases Its Interest in the Powderhorn and Gullbridge Base Metal Projects to 100%

Champion Iron Increases Its Interest in the Powderhorn and Gullbridge Base 
Metal Projects to 100% 
TORONTO, ONTARIO -- (Marketwired) -- 07/26/13 -- CHAMPION IRON MINES
LIMITED ("Champion" or the "Corporation") (TSX:CHM) (OTCQX:CPMNF)
(FRANKFURT:P02) is pleased to announce that it has acquired from
Copper Hill Resources Inc. (the "Vendor") the Vendor's remaining 30%
and 49% interests in the Joint Ventures covering the Powderhorn and
Gullbridge base metal projects, respectively, both of which are
located in central Newfoundland.  
Under the terms of the agreement, Champion has issued to the Vendor
1,000,000 common shares from treasury and has agreed to the Vendor
retaining a 1% royalty (the "Royalty") in the Gullbridge Property
subject to the Corporation's right to buy-down the Royalty in its
entirety at any time by electing to either pay the Vendor $1 million
or issue to the Vendor a further 1 million common shares. Champion
was also granted the right of first refusal on any sale, transfer,
mortgage or grant of security interest or any other disposition or
encumbrance in the Royalty, in whole or in part, by the Vendor, at
any time.   
The common shares issued in connection with this agreement are
subject to a resale restriction for four months plus one day from the
closing date.  
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. 
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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