Champion increases private placement to $4.6-million

2009-12-21 16:09 ET - News Release

Mr. Thomas Larsen reports

CHAMPION MINERALS INCREASES FINANCING TO $4,600,000

Champion Minerals Inc., further to its announcement in Stockwatch dated Nov. 26, 2009, is increasing the amount and working toward the completion of a non-brokered private placement of up to 5,636,364 flow-through (FT) units of Champion at a price of 55 cents per FT unit, as well as up to three million units of Champion priced at 50 cents per unit, for total proceeds of up to $4.6-million. The terms of the private placement were detailed in the Nov. 26, 2009, announcement in Stockwatch and remain unchanged with the exception of the increase in the offering up to 5,636,364 FT units from up to 2,727,272 FT units.

The private placement is subject to regulatory approval. All securities issued pursuant to the private placement will be subject to the applicable statutory, exchange and regulatory hold period.

The net proceeds of the private placement will be used for working capital and to finance the continued exploration programs at the Fermont iron property, and in particular the property's 25-square-kilometre Mammoth zone on the Harvey-Tuttle claim block.

We seek Safe Harbor.