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Fancamp Exploration Ltd.

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Champion Minerals Executes Definitive Option and Joint Venture Agreement for Fermont Iron Properties, Quebec

TORONTO, ONTARIO, Sep. 1, 2009 (Marketwire) -- CHAMPION MINERALS INC. ("Champion" or the "Company") (TSX VENTURE:CHM)(FRANKFURT:P02)(WKN:A0LF1C) is pleased to announce that the Company has executed a definitive option and joint venture agreement (the "Agreement") with Fancamp Exploration Ltd. and The Sheridan Platinum Group Ltd. (collectively, the "Vendors") in connection with 15 properties optioned pursuant to the Binding Option Agreement between the Vendors and the Company dated May 21, 2008 (refer to the Company's news release dated May 27, 2008), and the optioning of the Penguin Lake Iron Property and right of first refusal on the Lamellee Lake Iron Property, as announced by the Company on May 13, 2009. The terms of the Agreement were detailed in the Company's press releases dated May 13, 2009 and May 27, 2008.

About Champion Minerals Inc.

Champion is an exploration Company focused on discovering and developing significant metal resources in eastern Canada, particularly in Newfoundland and Labrador and Quebec. The Company's projects include the Attikamagen Iron Property, located in western Labrador and northeastern Quebec, the Fermont Iron Property in northeastern Quebec and the Powderhorn and Gullbridge Base Metal Projects located in central Newfoundland.

Statements in this release that are not historical facts are "forward-looking statements" and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these "forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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