DGAP-News

Champion Iron Mines Limited: Champion responds to CN´s decision to suspend feasibility study on a proposed rail line to serve the Quebec and Labrador iron ore districts - Seite 2

resources in the provinces of Québec and Newfoundland & Labrador. Champion
holds a 100% interest in the Fermont Iron Holdings and a 44% interest in
the Attikamagen Iron Project located in both Québec and Labrador. The
Attikamagen Project is under option to Labec Century Iron Ore Inc.
(´Labec´), a subsidiary of Century Iron Mines Corporation, under which
Labec can earn up to a 60% interest.

Champion´s Fermont Iron Holdings, including its flagship Consolidated Fire
Lake North Project, are located in Canada´s major iron ore producing
district, in close proximity to five producing iron mines, existing
transportation and power infrastructure. Consolidated Fire Lake North is
located immediately north of ArcelorMittal´s operating Fire Lake Mine and
60 km south of Cliffs Natural Resources Inc.´s Bloom Lake Mine in
northeastern Québec. Champion´s management and advisory board includes
mining and exploration professionals with the mine development and
operations experience to build, commission, and operate the future
Consolidated Fire Lake North mine.

For further information please contact:

Thomas G. Larsen, President and CEO
Jorge Estepa, Vice President, Secretary and Treasurer

Tel: [phone].

For additional information on Champion, please visit our website at
www.championironmines.com.

This news release includes certain information that may constitute
´forward-looking information´ under applicable Canadian securities
legislation. Forward-looking information includes, but is not limited to,
statements about planned operations at the Company´s projects, including
its Consolidated Fire Lake North Project. Forward-looking information is
necessarily based upon a number of estimates and assumptions that, while
considered reasonable, are subject to known and unknown risks,
uncertainties, and other factors which may cause the actual results and
future events to differ materially from those expressed or implied by such
forward-looking information, including the risks identified in the
Company´s annual information forms, management discussion and analysis and
other securities regulatory filings by the Company on SEDAR (including
under the heading ´Risk Factors´ therein). There can be no assurance that
such information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
forward-looking information. Accordingly, readers should not place undue
reliance on forward-looking information. All forward-looking information
contained in this press release is given as of the date hereof and is based
upon the opinions and estimates of the Company´s management and information
available to management as at the date hereof. The Company disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events or
otherwise, except as required by law.

This press release has been prepared by Champion Iron Mines Limited and no
regulatory authority has approved or disapproved the information contained
herein.

End of Corporate News

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14.02.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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201459 14.02.2013