Champion Iron Mines Limited CPMNF

RE: Financing @ $2.50 - finalized

[ToneStemple1]

Champion Minerals Inc. announces increase in previously announced financing to $30 million

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TORONTO, Jan. 14 /CNW/ - Champion Minerals Inc. (TSX:CHM, FSE:PO2) (the "Company" or "Champion") is pleased to announce that it has amended the terms of the previously announced bought deal private placement with a syndicate of underwriters led by Canaccord Genuity Corp. and including Paradigm Capital Inc., Jennings Capital Inc., Haywood Securities Inc. and RBC Capital Markets (collectively, the "Underwriters"), to increase the size of the offering by an additional 4,000,000 shares of the Company (the "Shares"). Under the amended terms of the offering, the Underwriters have agreed to purchase an aggregate of 12,000,000 Shares at a price of C$2.50 per Share (the "Issue Price"), for aggregate gross proceeds of C$30,000,000 (the "Offering").