Mr. David Cataford reports

CHAMPION IRON TO HOLD ITS ANNUAL GENERAL MEETING OF SHAREHOLDERS ON AUGUST 30, 2023 (MONTREAL TIME) / AUGUST 31, 2023 (SYDNEY TIME)

Further to the various filings previously made in this regard, Champion Iron Ltd.'s annual general meeting of shareholders will be held on Wednesday, Aug. 30, 2023, at 5 p.m. (Montreal time)/Thursday, Aug. 31, 2023, at 7 a.m. (Sydney time). Information relating to the meeting can be found under the company's filings on SEDAR+, the Australian Securities Exchange and the company's website under the investors section.

The specific details for the meeting are as follows:

Date:  Wednesday, Aug. 30, 2023 (Montreal), Thursday, Aug. 31, 2023 (Sydney)

Time:  5 p.m. (Montreal time); 7 a.m. (Sydney time)

Location:  McCarthy Tetrault LLP 1000 De La Gauchetiere St. West, suite MZ400, Montreal, Que., H3B 0A2

A live audio webcast will be available the day of the meeting and the webcast recording will be accessible through Champion's website.

Access to the webcast:

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

Telephone North America:  1-888-390-0546

Telephone Australia:  1800-076-068

Webcast:  Champion Iron website

Replay overseas:  1-416-764-8677

Replay North America:  1-888-390-0541

Replay pass code:  671382 followed by the pound key

Replay expiration:   Wednesday, Sept. 6, 2023, at 11:59 p.m. (Montreal time), Thursday, Sept. 7, 2023, 1:59 p.m. (Sydney time)

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.