Champion Minerals Inc. is developing the next major iron ore mine in the Labrador Trough region of Canada. Its flagship Fire Lake North project is currently in the feasibility stage and has over 2.8 billion tonnes of iron mineral resources across four of its seventeen properties in the Fermont Quebec mining camp. A preliminary economic assessment indicates the Fire Lake North project can produce 8.7 million tonnes of concentrate annually for 25 years at a cost of $4 billion with a 41.5% internal rate of return. The region has established infrastructure for rail, power and ports to support future mining development as the area is expected to increase iron ore production to 200 million tonnes annually.

1. Building the Next Major Iron Ore
Mine in the Labrador Trough
Corporate Presentation
April, 2012
FSE: P02

2. FORWARD-LOOKING STATEMENTS
Certain information contained herein regarding Champion Minerals Inc., including
management’s assessment of future plans and operations, may constitute forward-looking
statements under applicable securities law and necessarily involve risks, including but not
limited to risks associated with mining exploration, operating costs, production costs, volatility
of share prices, currency fluctuations, imprecision of resource and reserve estimates,
environmental risks and ability to access sufficient capital from internal and external sources.
As a consequence, actual results may differ materially from those anticipated in any forward
looking statements. Plans, intentions or expectations disclosed in any forward-looking
statements or information should not be read as guarantees of future results or events, and will
not necessarily be accurate indications of whether or when or by which such results or events
will be achieved.
Except as required by law, Champion Minerals Inc., expressly disclaims any intention and
undertakes no obligation to update any forward looking statements or information as conditions
change.
The historical mineral resources mentioned are strictly historical in nature and are non-
compliant to National Instrument 43-101 mineral resources and mineral reserves standards,
and should therefore not be relied upon. A qualified person has not done sufficient work to
upgrade or classify the historical mineral resources as current National Instrument NI-43-101
compliant.
2

3. About Champion Minerals
Advanced iron ore exploration and development projects located in
Canada’s principal iron ore district, the Labrador Trough
Fermont Projects (710 km2)
 17 properties in the Fermont Quebec mining camp
 Flagship Fire Lake North Project-currently in the
Feasibility stage
 Over 2.8 billion tonnes of NI 43-101 compliant iron
mineral resource estimates on 4 of 17 projects
 82.5% direct interest, 3% NSR (C$3 million buyback for
an additional 1% NSR)*
Attikamagen Property (310 km2)
 Champion Minerals holds a 49% interest
 Century Iron Mines Corp. (51% interest) has
option to earn up to a 60% interest
in the property by funding a further $5.5 million in
exploration expenditures by May 2014**
* Fancamp Exploration Ltd. holds remaining 17.5% interest
** CHM 49% / Century Iron Ore Mines 51%; Investment by WISCO of 25% ($60M) and Minmetals of 5% ($12M) 3

4. Quebec’s Next
Major Iron Ore Mine
Fire Lake North (FLN) Development Project
 Nov. 21 2011 PEA indicates ability to produce 8.7 million tonnes of
concentrate per annum for the first 25 years of a 40-year mine life  the first
5 years will average approximately 10 million tonnes of concentrate per annum
 Net Present Value of $4 billion at a discounted cash flow rate of 8% with an
Internal Rate of Return of 41.5% and a payback period of 2.3 years
Established Iron Ore District
 Canada produces 44 mtpy of iron ore concentrate in the southern end of the
Labrador Trough  this is expected to grow to 200 mtpy over the next 10 years if
all proposed development projects are realized.
 Established rail, power and port infrastructure
- Quebec’s Plan Nord: $80 billion investment over the next 25 years in
northern Quebec for various projects including infrastructure projects
- Competitive power rates: ~ $0.04 - $0.045; price to be negotiated in 2012
- Initiative for world-class port facilities underway
Proven Team
 Strengthened advisory board and board of directors includes former
Consolidated Thompson Iron Mines management and officers
4

5. Capital Structure
Share Data and Cash Position as of March 30, 2012.
Shares Outstanding 105.2 million
Warrants 5.2 million @ C$1.57
(22,260 @ C$1.15 expiring 04/30/2012
2.16 million @ C$1.50 expiring 04/2012
2.22 million @ C$1.50 expiring 10/2013, which are owned
by insiders and advisors.)
Options 12.0 million @ C$1.04
Fully Diluted Shares Outstanding 122.6 million
Market Capitalization C$176.8 million
(based on $1.98 share price)
Cash Position C$41.4 million
Fully Diluted Cash Position C$62.0 million
Management Ownership ~ 7%
Analyst Coverage Canaccord Genuity Paradigm Capital
Desjardins Capital Markets Raymond James
Fraser Mackenzie RBC Capital Markets
Haywood Securities Salman Partners
Jennings Capital Stifel Nicolaus
Macquarie Capital Markets TD Securities
5

6. Experienced Management Team
Over 200 years of combined exploration and mine operations experience
Board of Directors Management Team
Tom Larsen Tom Larsen
Chairman President and CEO
Alexander Horvath, P.Eng. Alexander Horvath, P.Eng.
Director Executive Vice President, Exploration
Jean Depatie, P.Geo. Martin Bourgoin, P. Geo.
Director Executive Vice President, Operations
Ashwath Mehra Jeff Hussey, P.Geo.
Director Executive Vice President, Development
Donald A. Sheldon, LLB., P.Eng. Bruce Mitton, P.Geo.
Director Vice President, Exploration
Paul Ankcorn Jean-Luc Chouinard, P.Eng.
Director Director of Projects
Francis Sauve Miles Nagamatsu, CA
Director Chief Financial Officer
Joseph S. C. Chan Jorge Estepa
Director Vice President, Secretary-Treasurer
Richard Quesnel: Senior Technical Advisor and Head of the Advisory Board
Advisory Board: Richard Quesnel, Mick McMullen, and Doug Bache
Project Finance Advisor: Marc Duchesne 6

7. Why invest in Champion Minerals?
Favourable Operating Champion Minerals’
Environment Competitive Advantage
• Established iron ore • Fermont: 17 iron ore
mining district  the (710 km2) brownfield
Labrador Trough projects
• Favourable tax • Feasibility Stage Fire
environment Lake North Surface
(40% tax rebate on Deposits contain
exploration expenditures) coarse grained
• Access to low-cost power specular hematite 
and close to rail and port  Easier to liberate
infrastructure  Deleterious elements
• Quebec`s Plan Nord  are below industry
$80 billion over the next specifications limits
25 years
• Experienced team of
• Quebec is known to be a project developers and
world class area to mine builders
develop mines
• Upside Potential for
• Unprecedented Iron Ore Growth
Price Range and Forecast
• Several De-Risking
• Skilled Labor Work Force Initiatives Underway
7

8. Attikamagen
Rail Infrastructure
Quebec North Shore & Labrador
Railway (“QNS&L”)
High  QNS&L links to Sept-Iles and Pointe Noire
Voltage
Power  Bloom Lake and QNS&L railways are
Lines considered common carriers
Cluster 1
Cluster 2
 Common carriers allocate capacity on a
first-come, first-serve basis
Fermont
 Fire Lake North PEA Base Case connection
Cluster 3 to Bloom Lake railway requires 94 km of rail
– includes turnaround loop and sidings
 Participation in a private multi user rail
QNS&L solution as an alternative transportation /
Cartier
Rail
Private
Common
haulage option is also under study
Rail
Carrier
Cartier Railway: Linked to Port-Cartier
Three Ports/  Privately owned by ArcelorMittal
Stockpile
Locations  Adjacent to the west of Fire Lake North Proj.
Gulf of St Lawrence
8

9. Multi-User Port Infrastructure
Expanding to Meet Demand
Pointe Noire Multi User Port
 Federal Government announced
$55 million funding or 25% of project
 Completion March 31st 2014
 Phase 1: 50Mtpy $220 million Sept-Iles
 Phase 2: Planning for 100 Mtpy
 Cliffs Resources shipping facility
Pointe Noire
Port of Sept-Iles
 RTZ-IOC shipping facility
Port-Cartier
 ArcelorMittal shipping facility
 $2.1B expansion is underway and China Max ship capacity 300kt
will include concentrator expansion
with port and rail infrastructure
upgrades
 Located 62 km west of Sept-Iles
Courtesy of the Port de Sept Isles
9
9

10. Development: Fire Lake North Project
Oil Can Project 6 km
from FLN Concentrator
10

11. 11

12. Fire Lake North Project
Growth through Development
 Preliminary Economic Assessment
indicates a production rate of 8.7 million
tonnes of concentrate per annum for the
first 25 years of a 40-year mine life, average
of approximately 10 million tonnes of
concentrate per annum for the first 5 years
(released November, 2011).
 Net Present Value of $4 billion at a
discounted cash flow rate of 8% with an
Internal Rate of Return of 41.5% and a
payback period of 2.3 years.
 Mineral Resource Estimate: October 6, 2011
Measured and Indicated Resources
of 400.1 million tonnes grading
30.6% total iron
Inferred Resources of 661.2 million
tonnes grading 27.7% total iron
 Feasibility Study underway with several
de-risking initiatives ongoing
See www.championminerals.com for reports maps and assays 12

13. Fire Lake North - Metallurgy
 Coarser grained: At 600 - 700 micron liberation grind size the SiO2 content is
very low (3-4%) allowing for optimization; 2nd Phase tests underway
 SPI tests indicate a relatively softer ore; 2nd Phase of tests underway
 Current Mill Design: Gravity separation
 Deposits of quartz specularite iron ore are typical of the Fermont area
− Coarse liberation grind size; product will be sold as “Sinter Fines”
− 80% of the global iron ore market seeks this product
− Low deleterious elemental levels will help to secure market share
High Grade - Coarse Specular Hematite Typical Quartz-Specular
Hematite-Magnetite Mineralization 13

14. Fire Lake North Development Project
14
14

15. Fire Lake North Development Project
15

16. Fire Lake North Development Project
November 2011 Preliminary Economic Assessment Update – Highlights
Key Results Pre-Tax Basis
Internal Rate of Return (IRR) (8% Discount Rate) 41.5%
Undiscounted Cash Flow US$10.9B
Net Present Value @ 5% Discounted Cash Flow US$5.6B
Net Present Value @ 8% Discounted Cash Flow US$4.0B
Based upon the following Discounted Cash Flow
Net Present Value @ 10% assumptions: US$3.2B
Payback Period (8% Discount Rate) 2.3 Years
 Capital Costs: US$1,368 million (includes rail and port infrastructure)
 Operating Costs: US$51.01 per tonne (average 25 years);
US$39.46 per tonne (average years 1 to 5)
 Price assumptions: US$115 per tonne of concentrate at 65% Fe
 Mine-Life: 40 years (average of 8.7 million tonnes/year for the first 25 years)
 Exchange rate: $1.00 USD to $1.00 CDN
 Total Resources(1): 400 million tonnes grading 30.6% Fe (NI43-101 Measured and Indicated Resources)
661 million tonnes grading 27.7% Fe (NI43-101 Inferred Resources)
 In Pit Resources 921.8 million tonnes grading 28.8% Fe at an 8% cut-off grade
16

17. Fire Lake North Project
Preliminary Economic Assessment Study
OPERATING EXPENDITURES (US$/TONNE OF CONCENTRATE)
COST PARAMETERS AVERAGE 25 YEARS AVERAGE YEARS 1 TO 5
Mining 22.56 12.13
Concentrating, crushing and processing 4.52 3.97
Site infrastructure, sales and general administration 4.40 3.39
Environmental tailings and management 0.29 0.26
Rail transport 15.52 16.14
Port facilities 3.72 3.57
Total 51.01 39.46
Equipment Lease Cost (not included in above total) 1.67 5.17
CAPITAL EXPENDITURES (US$ MILLIONS)
COST CENTRES $ MILLIONS
Pre-stripping of open pit areas 97.5
Concentrator and site infrastructure including loadout facilities 682.3
Railway (62km distance and 94km total including turnaround loop and sidings) 228.8
Port Facilities: Railcar unloading, stacker/reclaimer, conveyors 96.8
Environmental and Tailings Management 27.9
Other Pre Production Costs 34.0
Sub-total 1,167
Contingency 201
Total 1,368 17

18. Fire Lake North Project Schedule
Development, Construction, and Production
2011 2012 2013 2014 2015
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Diamond Drilling
Scoping Study
Feasibility Study
Environmental / Social Studies
Community Consultation
Permitting
Construction
Production
18

19. Moire Lake Project
Initial Mineral Resource Estimate: March 29, 2012
 Mineral Resource Estimate:
Arcelor Mittal Property Boundary
 Indicated Resources -164 million
tonnes grading 30.5% Total Iron
 Inferred Resources - 417 million
tonnes grading 29.4% Total Iron
 DDH LM11-12: 503 m @ 31% total iron
 Kilometric Synform with Hematite and
Magnetite outcrops at surface
A’  Adjacent to ArcelorMittal Mont Wright Mine
A
500
meters
19
19

20. Moire Lake Project
Infrastructure: Adjacent to rail (8km), road, and power
500
meters
20
20

21. Oil Can Project
Exploration Upside
 The 2011 drill program returned long magnetite-hematite iron formation up
to 546 metres in length
 The 400 metre spaced drill program is now complete, Mineral Resource
Estimate Q1 2012
SELECTED* COMPOSITE ASSAY RESULTS
HOLE-ID HOLE LENGTH AZIMUTH DIP FROM TO INTERVAL** GRADE***
metres degrees degrees metres metres metres Total Fe%
OC11-02 594 310 -45 188.53 590.03 401.50 30.7
including 246.86 460.40 213.54 33.1
OC11-05 545.00 020 -45 241.56 545.00 303.44 34.7
including 407.24 538.00 130.76 36.5
OC11-08 616.00 180 -50 67.00 612.73 545.73 33.7
Including 67.00 509.34 442.34 36.4
* Selected Composite Assay Results are stated only for results recently received. The Selected Composites are
not necessarily representative of the average grade or thickness of the mineral zones or potential resource.
** Intervals are down-hole lengths and not true widths of the mineral zones.
*** Grades are calculated from Total Fe% sample assays completed by ALS Chemex Laboratories using the
“High Grade/Ores Method” and XRF analysis.
21

22. Oil Can Project
Exploration Upside
9800N
 Up to 546m 33.7% total iron
 Initial Mineral Resource
Estimate: Q1 2012
 Billion tonne potential
 Potential for low strip ratio < 1 : 1
CENTRAL
 Bench width  100- 350m
5800E
To view a larger more detailed version of this map please visit:
http://www.championminerals.com/vns-site/page-oil_can.html
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23. Oil Can Project South & East Zones
Exploration Upside Section 9800N (Facing North)
South Zone
OC11-05
OC11-07 East Zone
OC11-08
303.4m @ 34.7% OC11-02 OC11-19
Ovb OC11-01
incl. 130.8m @
36.5%
Assay Pending
545.7m @ 33.7% IF
incl. 442.3 @
IF 36.4% 190.0m @
30.6%
197.2m @ 26.8%
401.5m @ 30.7%
incl. 145.5 @
incl. 213.5 @
28.1%
33.1%
200 metres
23

24. Oil Can Project Central Zone
Exploration Upside (Facing Northwest)
OC11-14 OC11-16
OC11-03
191.7m @ OC11-10
28.2% Ovb
311.4m @ 27.6%
incl. 269.0m @
29.2%
224.0m @ 28.1%
incl. 140.0m @ 472.2m @ 28.0%
30.0%
IF incl. 119.6m @
35.2%
200 metres
24

25. Oil Can Project North Zone
Exploration Upside Section 5800E (Facing East)
OC11-12 OC11-13 OC11-15
OC11-04
141.5m @ 29.2%
OC11-09 Ovb
221.2m @ 25.0%
incl. 128.9m @
28.7%
Assays Pending 179.5m @ 32.8%
IF
414.1m @ 25.1%
incl. 139.0m @
29.5% 472.2m @ 28.0%
incl. 119.6m @
35.2%
200 metres
25

26. Milestones
Fire Lake North Definition Drilling Ongoing
Updated PEA on Fire Lake North Completed
Initial NI 43-101 Mineral Resource Estimate for Oil Can Project
Q2 2012
(adjacent to Fire Lake North Project)
Metallurgical results at Fire Lk. North, Moire Lk. & Oil Can Projects Q2 2012
Marketing Study Q3 2012
Fire Lake North Feasibility Study Q3 2012
Fire Lake North Construction Start Q4 2013
Fire Lake North Production 2015
26

27. Why Invest in
Champion Minerals?
 Fire Lake North NPV: $4 Billion @ 8% DCF
 Adjacent Oil Can shows great promise and plans are
underway to develop it; Metallurgical tests underway…
 17 Brownfield Projects (710 km2) near 5 operating mines
 Experienced Team: Exploration, Development, Construction,
Commissioning, & Operations Management
 Financed through to feasibility; Favourable tax environment
 Quebec`s Plan Nord
 Access to power and close to rail and port
 Multi User Port is planned ; Trans-Shipping is an option
 Several Railway options are under study
 Iron Price Range and Forecasts is Unprecedented
 Several De-Risking Initiatives Underway
27

28. Thank You
28
28

29. Exploration Projects
Coarse Grained
Specular Hematite
Fire Lake North Exploration Camp
29

30. O’Keefe Purdy Project
Exploration Upside
30

31. Advanced Exploration
Bellechasse Project Harvey Tuttle Project
 NI 43-101 Inferred Resource Estimate:
 NI 43-101 Inferred Resource Estimate: 215Mt @
717Mt @ 25% iron; magnetite rich
29% Iron; Magnetite Rich iron formation
 Historical Resources increased from 91Mt  Intersected multiple significant iron formation
remaining upside potential. intervals in 2010 drill program
 Adjacent to Hwy 389; 10km from Fire Lake North  Total of 13,165m of drilling completed
 Synform Geometry is good for Open Pit  Less than 50% of the kilometric scale
magnetic anomalies have been tested
 Metallurgical tests underway
 Located 25 km NW of Fire Lake North
 Within conveying distance from Fire Lake
North planned concentrator (20-30km)
31

32. Labrador Trough Annual Production
Iron Ore Production Upside
Company Current Annual Projected
Production Annual Forecast
IOC/RTZ 17 mtpy 26 mtpy1
ArcelorMittal 13 mtpy 24 mtpy2
Cliffs Natural Resources 12 mtpy 28 mtpy
(Wuhan)
Labrador Iron Mines 2 mtpy 5 mtpy
Adriana Resources (Wuhan) 0 50 mtpy
New Millennium (Tata) 0 27 mtpy
Century Iron Mines (Wuhan) 0 ~20 mtpy
Champion Minerals 0 ~18 mtpy
Alderon Iron Ore Corp. 0 ~8 mtpy
Total current and forecasted 44 ~ 200 mtpy
production
1. Possibility of expanding production up to 50 mtpy
2. Possibility of expanding production to 50 mtpy
32

33. Global Steel Production Shows
Continued Demand for Iron Ore
1,600,000
1,400,000 China’s CAGR* is 9.88% over
the last 30 years vs. 2.30% for
1,200,000
total global steel production
over the same period.
1,000,000
China
800,000
Japan
600,000 Rest of the
World
400,000
200,000
-
1980 1985 1990 1995 2000 2005 2010
Source: World Steel Association website
* Compound annual growth rate
33

34. Iron Ore Types
Coarse Grained Specular Hematite
Direct Shipping Ore
Magnetite Rich Taconite Coarse Grained Specular Hematite 34
34

35. Fermont Iron Ore District
(“FIOD”)
Historically the Fermont and
Labrador Camps have
produced 33 Mta
RTZ/IOC = 17 Mta
ArcelorMittal = 13 Mta
Wabush = 3 Mta
For 30-40 years pre 2003
the price per tonne
concentrate was
$25- $30/ tonne
Current 3 year moving
average is $130/ tonne
2012 Spot Price averaged
~$170/tonne
35