Mr. Thomas Larsen reports

CHAMPION IRON MINES RECEIVES FINAL COURT APPROVAL FOR ARRANGEMENT WITH MAMBA MINERALS

The Ontario Superior Court of Justice (Commercial List) has issued a final order approving Champion Iron Mines Ltd.'s previously announced plan of arrangement with Champion, Mamba Minerals Ltd. and 2401397 Ontario Inc. (subsequently renamed Champion Exchange Ltd.).

The arrangement is expected to close on Monday, March 31, 2014.

As previously announced, as at closing of the arrangement, Mamba will change its name to Champion Iron Ltd. and its ordinary shares (whether currently issued or issued as part of the arrangement) will trade on both the Toronto Stock Exchange and the Australian Securities Exchange, thus providing the resulting iron ore company with access to both the Canadian and Australian capital markets, and the shareholders of the combined entity with the ability to trade their ordinary shares on either stock exchange.

We seek Safe Harbor.