Mr. Michael Marcotte reports

CHAMPION IRON APPOINTS RONNIE BEEVOR TO ITS BOARD OF DIRECTORS

Champion Iron Ltd. has appointed Ronnie Beevor to its board of directors, effective immediately.

Mr. Beevor has over 40 years of experience in investment banking and the mining sector, including as chair and non-executive director of several mining companies in Australia and internationally. He is currently chairman of Bannerman Energy Ltd., owner of the large Etango uranium deposit in Namibia, chairman of Felix Gold, which has substantial gold exploration properties in Alaska, and director of Mont Royal Resources, building a dominant position in underexplored greenstone belts in Quebec. Previously, Mr. Beevor served as head of investment banking at Rothschild Australia, chair of EMED Mining, which acquired, developed and operated the Rio Tinto copper mine in southern Spain, and board member of Riversdale Resources, which was acquired by Hancock Prospecting for $800-million (Australian), as well as Talison Lithium, which acquired the Greenbushes lithium mine in West Australia, prior to its acquisition by Tianqi Industry Group for nearly $700-million (Canadian). Mr. Beevor also served on the board of Oxiana Ltd., which developed substantial gold and copper operations in Laos, acquired the Golden Grove polymetallic mine in Western Australia, developed the Prominent Hill mine in South Australia and merged with Zinifex Ltd. to form OZ Minerals, which was recently acquired by BHP Group Ltd. for $9.5-billion (Australian). Mr. Beevor holds an honours degree in philosophy, politics and economics from Oxford University, and is qualified as a chartered accountant in England and Wales.

"We are delighted to welcome Mr. Beevor to our board," said Michael O'Keeffe, Champion Iron's executive chairman. "Mr. Beevor brings decades of valuable experience, including directorship and chairman roles at various successful mining companies. His expertise in finance and the mining sector will complement our already highly qualified board as we continue to deploy our vision to be a leader in the green steel supply chain."

About Champion Iron Ltd.

Champion Iron, 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 year 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. Benefiting from one of the highest-purity resources globally, the company is investing to upgrade half of the Bloom Lake mine capacity to a direct reduction quality pellet feed iron ore with up to 69 per cent iron. 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 shiploading 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 Iron 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 Cluster II portfolio of properties, located within 60 kilometres south of Bloom Lake.

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