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Champion Minerals Inc.: Champion Minerals Closes Financing

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  Published in Business and Finance on Monday, February 9th 2009 at 9:58 GMT, Last Modified on 2009-02-09 09:59:00 by Market Wire
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TORONTO, ONTARIO--(Marketwire - Feb. 9, 2009) - CHAMPION MINERALS INC. ("Champion" or the "Company") (TSX VENTURE:CHM) announces that it has completed a previously announced non-brokered private placement (the "Private Placement") of 286,000 common shares ("Shares") of Champion at a price of $0.35 per Share for total proceeds of $100,100. The Private Placement is subject to exchange and regulatory approval. Directors of the Company purchased Shares pursuant to the Private Placement. The Shares issued pursuant to the Private Placement are subject to a four (4) month hold period expiring June 10, 2009.

The net proceeds of the Private Placement will be used for working capital and to finance continued exploration programs on Champion's properties.

About Champion Minerals Inc.

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

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.