Champion Iron Mines Limited CPMNF

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Champion Iron Mines Limited
TSX:	CHM
OTCQX:	CPMNF
FRANKFURT:	P02
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September 26, 2012

Initial Mineral Resource Announced by Champion Iron's JV Partner for the Hayot Lake Iron Deposit of the Attikamagen Project, Near the Town of Schefferville, Quebec

TORONTO, ONTARIO--(Marketwire - Sept. 26, 2012) - CHAMPION IRON MINES LIMITED (TSX:CHM)(OTCQX:CPMNF)(FRANKFURT:P02) ("Champion" or the "Company") reports that Century Iron Mines Corp. ("Century") issued a news release on September 25, 2012 announcing an initial mineral resource statement for the Hayot Lake Iron Deposit ("Hayot Lake") located in Quebec on the Attikamagan Iron Project, jointly held by Champion and Century. Century reported that Hayot Lake is estimated to contain an Inferred Mineral Resource of 1.723 billion tonnes grading 31.25% Total Iron at a cut-off grade of 20% Total Iron. Century stated that the initial mineral resource statement has been prepared by SRK Consulting (Canada) Inc. ("SRK") in accordance with Canadian Securities Administrators' National Instrument 43-101 "Standards of Disclosure for Mineral Projects" ("NI"43-101"). Hayot Lake is approximately 18.5km northeast of Schefferville, Quebec.

A summary of the Mineral Resource Statement and resource estimation methodology can be found in Century's press release dated September 25, 2012, which is available on their corporate website at www.centuryiron.com and it will also be posted under Century's filings at www.sedar.com. Century stated that the technical data in its news release was verified by the qualified persons (within the meaning of NI 43-101) identified in its news release. Century also reported that SRK's Hayot Lake Mineral resource Technical Report will be filed on SEDAR within 45 days.