Champion Minerals Inc. Completes $1.68 Million Financing

TORONTO, ONTARIO--(Marketwire - Jan. 13, 2010) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES NOR FOR DISSEMINATION IN THE UNITED STATES.

Champion Minerals Inc. ("Champion" or the "Company") (TSX VENTURE:CHM)(FRANKFURT:P02) announces the completion of its previously announced non-brokered private placement (the "Private Placement") (see Champion's news releases dated December 29, 2009 and January 6, 2010), subject to final TSX Venture Exchange acceptance. An aggregate of 3,500,000 common shares ("Shares") were issued to a Canadian institution at $0.48 per Share for gross proceeds of $1,680,000.

In connection with the Private Placement, the Company paid finder's fees of $134,400 to arm's length parties. The Company also issued 350,000 finder's fee share purchase warrants to arm's length parties, entitling the holders to purchase 350,000 common shares of the Company at a price of $0.60 per common share within eighteen months after the issue date.

The gross proceeds from the Private Placement will be used for working capital purposes and to fund the Company's ongoing exploration programs.

All the securities issued pursuant to this Private Placement are subject to a four (4) month hold period.

About Champion

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

This Press Release contains forward-looking statements, including the use of proceeds of the Private Placement which may involve a number of risks and uncertainties. Actual events or results could differ materially from Champion's forward-looking statements and expectations herein.

Neither IIROC nor the TSX Venture Exchange accepts responsibility for the adequacy or accuracy of this release.