Champion Minerals Inc. is a Canadian-based iron ore exploration and development company with properties located in the heart of Canada’s premier iron ore mining district, the Labrador Trough. Champion Minerals is one of the largest landholders of highly prospective iron ore claims located southwest of Fermont, Quebec and northeast of Schefferville. The company’s flagship project is the Fire Lake North Project and is located close to water, power, roads and railways, which is located in the Fermont iron ore area. This area connects to three ports on the north shore of the St. Lawrence Seaway and is home to major iron producers, such as ArcelorMittal Canada, Cliffs Natural Resources and the Iron Ore Company of Canada.

Thomas Larsen
Chairman of the Board, President and CEO
Mr. Larsen has held the role of President and CEO of Champion Minerals since 2006. He has over 30 years of experience in the investment industry, specializing in corporate finance and management of junior mining companies, raising in excess of $100 million. Prior to joining Champion Minerals, Mr. Larsen held senior executive positions at a number of junior resource companies, where he was also involved in corporate finance and management activities. Currently, Mr. Larsen serves on a number of boards for publicly listed companies in the resource sector. He holds a Bachelor of Economics degree from Queens University.

Alexander Horvath, P.Eng.
Executive Vice President, Exploration and Director
Mr. Horvath joined Champion Minerals as Executive Vice President, Exploration in March 2008, and Director in September 2007, and bringing with him over 28 years of experience in mineral exploration and mining. Since 2006, Mr. Horvath has been President of A.S. Horvath Engineering Inc., an Ottawa-based exploration/mining geological services firm. He has also spent over 20 years with Asarco Inc. and its associated international subsidiaries located in Canada, Portugal and French Guyana, in progressively senior operational roles, where he was involved in managing base and precious metals exploration, mineral resource estimates, feasibility studies, reserve audits and acquisition due diligence reviews. Mr. Horvarth holds a Bachelor of Science degree in Engineering from the University of Toronto.

Martin Bourgoin, P.Geo.
Executive Vice President, Operations
Mr. Bourgoin joined Champion Minerals as Executive Vice President, in December 2007, bringing with him over 25 years of experience in both mining and exploration program management. Since 1999, Mr. Bourgoin has been President of MRB & Associates, a Val D'Or, Quebec based geological consulting firm. Prior to founding MRB & Associates, Mr. Bourgoin worked as Chief Geologist at Sigma Mines, a world class gold mine located in Val D'Or, Quebec and he has also held similar positions with Placer Dome Inc. and Agnico Eagle Mines Ltd. Mr. Bourgoin holds a Bachelor of Science degree in Geology from the University of New Brunswick, and he is a member of the Quebec Professional Geologist Association.

Jeff Hussey, P.Geo.
Executive Vice President, Development
Mr. Hussey was appointed to the position of Executive Vice President, Development in March 2011; he joined Champion Minerals as Vice President, Exploration in February 2008, bringing with him over 25 years of international exploration and mining experience, which includes 19 years with Noranda Inc. and Falconbridge Ltd. (now part of Xstrata Plc). Mr. Hussey also worked at Brunswick Mines, Mines Gaspe, and the Antamina Mine startup in Peru. His previous roles include, senior scientist with the mining group at the Noranda Technology Centre and general foreman, open pits and surface projects, at Raglan Mines, where Mr. Hussey lead Six Sigma optimization projects for the concentrator and surface projects departments. Mr. Hussey holds a Bachelor of Science degree in Geology degree from the University of New Brunswick.

Bruce Mitton, P.Geo.
Vice President, Exploration
Mr. Mitton was appointed to the position of Vice President, Exploration in March 2011; he joined Champion Minerals as Senior Geologist in January 2009, bringing with him over 25 years of mineral exploration experience. His work history includes 10 years with Noranda Inc. (now part of Xstrata Plc), and over 15 years providing geological consulting services to several mining and junior mineral exploration companies in Eastern Canada and Ecuador. Mr. Mitton holds a Bachelor of Science degree in Geology from the University of New Brunswick and is a registered Professional Geoscientist in New Brunswick and in Newfoundland and Labrador. In December 2009, Mr. Mitton successfully completed his Masters Certificate in Project Management through the Schulich School of Business (York University).

Jean-Luc Chouinard, P.Eng.
Director of Projects
Mr. Chouinard joined Champion Minerals as Director of Projects in May 2011, bringing with him over 30 years of experience in mine operation management, mine construction and project development along with consulting expertise. Prior to joining Champion Minerals, Mr. Chouinard worked for major mining companies, such as IAMGOLD Corporation, Breakwater Resources Ltd., Cominco Ltd., Noranda Inc., BP Canada, as well as few junior companies. During his career, he was involved with various engineering and construction projects, pre-feasibility and feasibility studies. More recently, Mr. Chouinard worked on the Essakane construction project in Burkina Faso for IAMGOLD Corporation. Prior to this, he held the role of general manager at the Langlois Mine for Breakwater Resources Ltd. where he was responsible for the mine modernization program and its reopening. Earlier in his career, Mr. Chouinard was also involved in the development of a major open-pit mine at Selbaie Mines from feasibility study to production. Mr. Chouinard holds a Master of Science degree in Mining Engineering from Laval University, Quebec and he is a Professional Engineer registered both in Quebec and British Columbia, Canada.

Miles Nagamatsu, CA
Chief Financial Officer
Mr. Nagamatsu joined Champion Minerals as Chief Financial Officer in March 2006, bringing with him over 30 years of experience in accounting, management, lending, restructurings and turnarounds. Since 1993, Miles has acted as a Chief Financial Officer of public and private companies primarily in the mineral exploration and investment management sectors. For over 25 years, Mr. Nagamatsu has served as volunteer Treasurer and Director of Cystic Fibrosis Canada. He holds a Bachelor of Commerce degree from McMaster University and is a Chartered Accountant.

Jorge Estepa
Vice President, Secretary-Treasurer
Mr. Estepa joined Champion Minerals as Vice President, Secretary and Treasurer in March 2006, bringing with him over 17 years of experience with publicly listed companies in the areas of corporate management, development and investor relations. Prior to joining Champion Minerals, Mr. Estepa served as a senior officer and/or director of several publicly traded resource companies. Mr. Estepa holds a Bachelor of Arts from the University of Toronto.

Development Growth – Fire Lake North Project

The Fire Lake North Project consists of three principal zones of iron ore (the West Limb, East Limb and Don Lake), which contain National Instrument (NI) 43-101 inferred resources estimated at 388Mt grading 29% iron. The goal of the recently completed 21,000-metre 2011 diamond drill program is to increase the quality and quantity of iron ore resources at Fire Lake North. The updated mineral resource for Fire Lake North is expected in the third quarter of 2011. The Fire Lake North Project is located adjacent to the north of ArcelorMittal’s Fire Lake Mine, which contains approximately 500Mt at 30% iron.

In November 2010, Champion released the results of a Preliminary Economic Assessment on the Fire Lake North Project, confirming the technical parameters and positive economics. The project demonstrates a US$0.94 billion NPV at a 10% discount, which is based on an annual concentrate production of seven million tonnes over a 14-year mine life. Drilling from the 2011 diamond drill program will be used to upgrade and expand current resources at Fire Lake North as well as to upgrade the November 2010 Preliminary Economic Assessment, which is expected to be released later in 2011. The updated PEA will aim to demonstrate the potential growth profile for the centralized concentrator concept fed by several satellite open-pit operations.

Advanced Exploration – Fermont Iron Ore Portfolio

Champion Minerals’ portfolio consists of 17 iron-rich properties (approximately 644 square kilometres (km)) in the Fermont iron ore district of northeastern Quebec, 250 km north of the St. Lawrence River port town of Port-Cartier, and centred 60 km southwest of the town of Fermont. This portfolio of properties contain over 1.55 billion tonnes grading 25.4% iron in combined inferred mineral resources at the Fire Lake North, Bellechasse and Harvey-Tuttle projects. With a 60,000-metre drill program underway Champion Minerals aims to significantly expand current resources with the addition of a an upgraded mineral resource estimate at Fire Lake North, and initial NI 43-101 mineral resource estimates at the Moire Lake and the O’Keefe-Purdy projects.