Champion Minerals Announces Financing

Wed. January 21, 2009; Posted: 03:45 PM

TORONTO, ONTARIO, Jan 21, 2009 (Marketwire via COMTEX) -- CHM | Quote | Chart | News | PowerRating -- CHAMPION MINERALS INC. ("Champion" or the "Company") (TSX VENTURE:CHM) announces that it intends to complete a non-brokered private placement (the "Private Placement") of up to 428,571 common shares ("Shares") of Champion at a price of $0.35 per Share for total proceeds of up to $150,000. The Private Placement is subject to exchange and regulatory approval. Directors of the Corporation intend to purchase Shares pursuant to the Private Placement. All securities issued pursuant to the Private Placement will be subject to the applicable statutory, exchange and regulatory hold period.

The net proceeds of the Private Placement will be used for working capital and to finance continued exploration programs on Champion's properties.

About Champion Minerals

Champion is a junior exploration Company focused on discovering and developing significant metal resources in eastern Canada, particularly in Labrador and Newfoundland and northeastern Quebec. The Company's projects include the Powderhorn and Gullbridge Base Metal Projects located in central Newfoundland, the Attikamagen Iron Property, located in western Labrador and northeastern Quebec, and the Fermont Iron Property in northeastern Quebec.

Statements in this release that are not historical facts are "forward-looking statements" and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these "forward-looking statements.

SOURCE: Champion Minerals Inc.

Champion Minerals Inc. Thomas G. Larsen President and CEO (416) 866-2200 (416) 361-1333 (FAX) Champion Minerals Inc. Jorge Estepa Vice President (416) 866-2200 (416) 361-1333 (FAX) Website: www.championminerals.com

For full details for CHM click here.

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