Mr. Michael Marcotte reports

CHAMPION IRON PROVIDES NOTICE OF SECOND QUARTER RESULTS FOR FY2024 WITH CONFERENCE CALL WEBCAST DETAILS

Champion Iron Ltd. will be hosting a conference call and webcast on Oct. 26, 2023, at 9 a.m. (Montreal time)/Oct. 27, 2023, at 12 a.m. (Sydney time) with senior management, during which they will review the company's financial and operational results for the second quarter ended Sept. 30, 2023, of the financial year ending March 31, 2024.

Champion's financial statements and management's discussion and analysis for the second quarter ended Sept. 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.

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:  1-800-076-068

Webcast:  Champion Iron website

Replay overseas:   1-416-764-8677

Replay North America:   1-888-390-0541

Replay pass code:  509012 followed by the pound key

Replay expiration:  Thursday, Nov. 2, 2023, at 11:59 p.m. (Montreal time)/Friday, Nov. 3, 2023, at 2:59 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 iron ore concentrate. In January, 2023, the company announced the positive findings of a study evaluating the upgrade of 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.