Consolidated Fire Lake North

Exploration / development-stage iron ore project in the Fermont area of Quebec, immediately north of ArcelorMittal's Fire Lake mine. The Consolidated Fire Lake North project comprises three deposits: Fire Lake North, Bellechasse and Oil Can. The Fire Lake North reserves and resources are based on the February 2013 PFS technical report (effective date January 25, 2013); Bellechasse resource is based on a December 2009 technical report (effective date November 10, 2009); Oil Can resource is based on an August 2012 technical report (effective date July 1, 2012). All resource and reserve estimates are explicitly disclosed as historical, non-compliant with NI 43-101 or the JORC Code, and should not be relied upon; Champion is not treating them as current. Part of the Company's broader portfolio of exploration and development properties in the Labrador Trough. The Company is subject to limited production payments on Consolidated Fire Lake North.