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Champion Iron Completes Sale of $10 Million Convertible Debenture

MONTREAL, QC–(Marketwired – June 01, 2017) – Champion Iron Limited (ASX: CIA) (TSX: CIA) (“Champion” or the “Company”), is pleased to announce that it has completed the previously announced non-brokered sale of a $10 million unsecured subordinated convertible debenture (the “Debenture”) to Altius Minerals Corporation (“Altius”). The sale of the Debenture is a component of a CDN$40 million debt and equity bridge financing which Champion arranged for its subsidiary Quebec Iron Ore Inc. (“QIO”), in connection with the restart of operations at QIO’s Bloom Lake Iron Mine (“Bloom Lake”), located near Fermont, Quebec. Details of the bridge financing were previously disclosed by Champion on May 18, 2017.