Mr. David Cataford reports

CHAMPION IRON PROVIDES NOTICE OF FIRST QUARTER RESULTS FOR FY2024, CONFERENCE CALL WEBCAST DETAILS, AND ANNUAL MEETING OF SHAREHOLDERS DATE

Champion Iron Ltd. will be hosting a conference call and webcast on July 28, 2023, at 9 a.m. (Montreal time)/11 p.m. (Sydney time) with senior management, during which it will review the company's financial and operational results for the first quarter ended June 30, 2023, of the financial year ending March 31, 2024.

Champion's financial statements and management's discussion and analysis for the first quarter ended June 30, 2023, will be released prior to the conference call and webcast, and will be available in the financial and regulatory reports section of the company's website, under the company's profile on SEDAR and on the Australian Securities Exchange website.

A live audio webcast of the conference call will be accessible for a period of 90 days through Champion's website.

Access to the conference call:

Telephone local and overseas:  1-416-764-8688

Telephone North America:  1-888-390-0546

Telephone Australia:  1800-076-068

Webcast:  see company's website

Replay overseas:  1-416-764-8677

Replay North America:  1-888-390-0541

Replay passcode:  757974 followed by the number sign

Replay expiration:  Friday, Aug. 4, 2023, at 11:59 p.m. (Montreal time)/Saturday, Aug. 5, 2023, at 1:59 p.m. (Sydney time)

Champion also confirms that its annual meeting of shareholders will be held on Aug. 30, 2023, at 5 p.m. (Montreal time)/Aug. 31, 2023, 7 a.m. (Sydney time), and that the last date for director nominations will be July 19, 2023, by 3 a.m. (Montreal time)/5 p.m. (Sydney time). Additional information regarding the annual meeting of shareholders will be announced prior to the event.

About Champion Iron Ltd.

Champion, through its wholly owned subsidiary Quebec Iron Ore Inc., owns and operates the Bloom Lake mining complex, located on the south end of the Labrador Trough, approximately 13 kilometres north of Fermont, Que. Bloom Lake is an open-pit operation with two concentrators that primarily source energy from renewable hydroelectric power. The two concentrators have a combined nameplate capacity of 15 million tonnes per annum and produce a low-contaminant high-grade 66.2-per-cent Fe iron ore concentrate with a proven ability to produce a 67.5-per-cent Fe direct reduction quality concentrate. In January, 2023, the company announced the positive findings of a feasibility study evaluating upgrading one-half of the Bloom Lake mine capacity to a direct reduction quality pellet feed iron ore and approved an initial budget to advance the project. Bloom Lake's high-grade and low-contaminant iron ore products have attracted a premium to the Platts IODEX 62-per-cent Fe iron ore benchmark. The company ships iron ore concentrate from Bloom Lake by rail, to a ship loading port in Sept-Iles, Que., and has sold its iron ore concentrate to customers globally, including in China, Japan, the Middle East, Europe, South Korea, India and Canada. In addition to Bloom Lake, Champion owns a portfolio of exploration and development projects in the Labrador Trough, including the Kamistiatusset project, located a few kilometres southeast of Bloom Lake, and the Consolidated Fire Lake North iron ore project, located approximately 40 km south of Bloom Lake.