DRI Xiana Mining, Inc.

CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02) ("Champion", or "the Company")
is pleased to present an update on the Fermont Property Holdings development and
exploration program. Following up on the successful 2010 exploration campaign,
which saw substantial increases in NI 43-101 compliant resources (see Champion's
press releases of February 28th and March 7th, 2011), Champion is focusing on
increasing and upgrading the Fire Lake North Project's Inferred Resources to the
Measured and Indicated Resource category, in preparation for a Feasibility study
anticipated in Q2 2012.


An update to the November 2010 Preliminary Economic Assessment (PEA) study on
the Fire Lake North Project is underway by BBA Inc. and scheduled for completion
in Q3 2011. This update will evaluate extending the mine life from the 14 years
that was previously reported, towards a 25 year mine life by increasing the
total iron resources available in the area.


To better define and increase the total iron resources at Fire Lake North, four
drill rigs are drilling on 200 m vertical section spacing to better define the
full potential and upgrade the mineralization for the proposed East Limb and
West Limb open pits. The November 2010 PEA reported that two designed open pits
contained 250 million tonnes of In-Pit Resources. The Don Lake deposit is also
being evaluated (using two drill-rigs) with the goal of defining a third in-pit
iron resource on the property. In addition, the Bellechasse deposit, which is 10
km northwest of Fire Lake North, will be drilled during the second quarter of
2011. It is anticipated that the iron resources at Bellechasse will also be
incorporated into the updated PEA Report. In May, 2011 two drills will be added
to the Fermont exploration program to increase the overall drilling rate.


Champion is studying the option of integrating the Fire Lake North and
Bellechasse Projects by conveying mill feed from both projects to a central
concentrator. Benchmark studies of current conveyor technology have been
initiated by BBA Inc.


Additionally, the Harvey-Tuttle and O'Keefe-Purdy Projects are scheduled for
both exploration drilling and metallurgical testing in 2011. Harvey-Tuttle hosts
deposits with open pit potential, and O'Keefe Purdy has 20 km of untested iron
formation strike length. The economic iron mineralization that will potentially
be outlined could improve the economies of scale for the Fermont Property
Holdings and thereby reduce overall operating expenditures. 


The bulk handling studies using conveyors will examine incorporating feed from
these potential projects to the Fire Lake North concentrator. A second option
could be another stand-alone operation, separate from the Fire Lake North
complex. The viability and advantages of both options will be investigated,
giving Champion flexibility going forward. The 60,000 metres of diamond-drilling
planned in the Fire Lake North area will help to ascertain whether 1 or 2
concentrator complexes are needed. 


Tom Larsen, President and CEO stated, "The exploration potential at O'Keefe
Purdy is tremendous and it has not been tested for decades. Limited historic
drilling returned up to 90 metres of iron mineralization. A surface showing
composed of high-grade, coarse-grained, massive, specular hematite is the
priority target. Historical metallurgical tests on this showing reported good
results, and it will be sampled and tested again this year. An initial drilling
campaign of 10,000 m is planned for this summer to test the 20 kilometers of
iron formation strike length." 


Two drills are also currently validating the Lac Moire Historical Resource of
101 million tonnes grading 30.5% iron, located adjacent to ArcelorMittal's Mt.
Wright mine and mill complex. The objective is to fully delineate this deposit
and test the metallurgical quality to determine if there is sufficient material
for conventional gravity and magnetic separation. 


Direct Reduced Iron ("DRI") technology is also being considered as a new
technology for Lac Moire. The DRI process produces an equivalent to scrap iron
grading over 90% iron. The DRI processing of iron ore is performed by using a
reducing gas produced from natural gas or coal. This process does not use
conventional separation methods including the more costly gravity and magnetic
separation methods nor does it require pelletizing infrastructure. This reduces
the capital expenditures required and thus requires less iron resources to
justify an economically viable operation. Lac Moire is located within 10 km of
the Bloom Lake railway. 


SGS Lakefield is currently carrying out specific gravity and metallurgical tests
designed to measure concentrate quality for the Bellechasse and Harvey-Tuttle
Projects and results are expected in the next quarter. 


Along with Champion's development project plans, described above, several
initiatives to meet with the Quebec Provincial Government, the Sept-Iles Port
Authority, and the Quebec North Shore & Labrador Railway are being scheduled now
that Champion has outlined a significant resource base and is now at the
development phase. 


BBA Inc. will be completing the Fire Lake North PEA update study and is also
assisting Champion with engineering support in this transition phase towards
development. Roche Limited Consulting Group was contracted in February 2011 to
complete an Environmental Baseline study as a first phase of an Environmental
and Social Impact Study (ESIS) that is required for final feasibility. A
successful environmental audit visit by the Provincial Government
representatives was also completed in February.


Regional infrastructure expansion studies are underway by several government
agencies and industry participants to quantify the increasing demands on
infrastructure associated with the iron ore mining boom in the Labrador Trough.
Champion will participate in and support these initiatives to secure capacity
for future production as the PEA and feasibility studies progress. 


About Champion Minerals Inc. 

Champion is an exploration and development company focused on discovering and
developing significant iron ore resources in eastern Canada, particularly in the
provinces of Quebec and Newfoundland & Labrador. The Company's projects include
the Fermont Iron Holdings in Quebec, jointly held by Champion, with an 82.5%
interest and Fancamp Exploration Ltd., holding a 17.5% interest, the Attikamagen
Iron Project in Quebec and Labrador, and the Powderhorn / Gullbridge Base Metal
Projects in central Newfoundland. 


(i) The current Mineral Resource estimates were calculated using the Canadian
Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral
Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing
Committee on Reserve Definitions and adopted by CIM Council December 11, 2005. 


The technical information in this news release was prepared, revised and
approved by Jeff Hussey, P. Geo., Executive VP Development and Alex S. Horvath,
P. Eng., Executive VP Exploration of the Company both individuals are Qualified
Persons under NI43-101 standards. 


Please visit Champion's NEW website at www.championminerals.com.

Statements made in this news 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.

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