TORONTO, ONTARIO--(Marketwire - Feb. 22, 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 release dated January 6, 2010), subject to final TSX Venture Exchange acceptance. An aggregate of 1,799,999 units ("Units") were issued at $0.60 per Unit for gross proceeds of $1,080,000. Each Unit is comprised of one common share and one-half of one common share purchase warrant. Each whole warrant (a "Warrant") entitles the holder to purchase one common share at any time within eighteen (18) months after the Warrant issue date, at a price of $0.90. Although the terms of the Private Placement remained identical, the common shares issued in connection with the Private Placement were not issued on a "flow-through" basis as per the Company's January 6, 2010 news release.

In connection with the Private Placement, the Company paid finder's fees of $86,400 to arm's length parties.

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.