Champion Minerals Inc. provided the latest assay results from the Company’s Moire Lake Project, which is strategically located immediately east of and contiguous to ArcelorMittal’s Mont Wright Mine property, and is 8 km south of existing rail transport infrastructure.

Drill hole LM11-12 intersected 503.4 metres grading 31.2% Total Iron on the southeast side of the historic Lac Moire Occurrence. Drill hole, LM11-16, located approximately 400 m northeast and along strike of drill hole LM11-12, intersected 390.1 m grading 27.6% FeT and included an interval of 237.1 m grading 31.5% FeT. Drill hole LM11-09, located approximately 400m northeast of LM11-16, intersected 383.4 m of iron formation grading 30.3% FeT. These three drill holes delineate approximately 1 kilometre of iron formation along strike, with down-hole intersections of 383 m to 503 m (core-length), and confirm the continuity of the iron-rich Sokoman Formation around the thickened southeast fold closure.

Tom Larsen, Champion’s President and CEO commented, “The latest results from our 2011 drill program at Moire Lake further confirm the high grade and continuity of the iron formations present on the property which is strategically located in the Labrador Trough. The combined thickness and assay results from Moire Lake are significant and we expect the new resource estimate will identify a sizeable increase in the historical resource.”

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