Mr. David Cataford reports

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

Champion Iron Ltd. will be hosting a conference call and webcast on Jan. 31, 2024, at 9 a.m. Montreal time (on Feb. 1, 2024, at 1 a.m. Sydney time), with its senior management, during which the company will review its financial and operational results for the third quarter ended Dec. 31, 2023, of the financial year ending March 31, 2024.

Champion's financial statements and management's discussion and analysis for the third quarter ended Dec. 31, 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 number for local and overseas:  1-416-764-8688

Telephone number for North America:  1-888-390-0546

Telephone number for Australia:  1800-076-068

Webcast:  A webcast will be available on the company's website.

Replay number for overseas:  1-416-764-8677

Replay number for North America:  1-888-390-0541

Replay passcode:  228228 followed by the pound key

Replay expiration:  Wednesday, Feb. 7, 2024, at 11:59 p.m. Montreal time (Thursday, Feb. 8, 2024, at 3:59 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 low-contaminant high-grade 66.2-per-cent-iron iron ore concentrate with a proven ability to produce a 67.5-per-cent-iron direct reduction quality iron ore concentrate. In January, 2023, the company announced the positive findings of a study evaluating the upgrade of half of the capacity of the Bloom Lake mine 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-iron 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 kilometres south of Bloom Lake.