Champion Minerals Inc. is developing the Fire Lake North iron ore project in the Labrador Trough, Canada's principal iron ore district. The project currently has over 2.2 billion tonnes of iron ore resources and is undergoing a preliminary economic assessment. Champion also holds other exploration properties in the region and is led by an experienced team with over 200 years of combined experience in iron ore exploration and mining. The company aims to become Canada's next iron ore producer by advancing projects located in a region with established infrastructure to support future mining operations.

1. Building the Next Major Iron Ore
Mine in the Labrador Trough
Corporate Presentation
October 2011
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
 The flagship project is Fire Lake North, which is
currently in the development stage
 Over 2.2 billion tonnes of NI 43-101 compliant
iron ore resources
 Champion Minerals holds an 82.5% direct interest,
3% NSR (C$3 million to buyback 1% of NSR)*
Attikamagen Property
 Champion Minerals holds a 100% interest
 Century Iron Mines Corp. has option to earn up to a
60% interest in the property by spending C$13
million by May 2014**
* Fancamp Exploration Ltd. holds remaining 17.5% interest.
** Announced investment by WISCO of 25% ($60M) and Minmetals of 5% ($12M) 3

4. Canada’s Next Iron Ore Mine
Advanced Stage Projects
 Updated mineral resource estimate for Fire Lake North (development project), which
shows Measured and Indicated Resources of 400.1 million tonnes grading 30.6%
total iron and Inferred Resources of 661.2 million tonnes grading 27.7% total iron
 Preliminary Economic Assessment (PEA) update on the Fire Lake North Project is
underway and expected in November 2011
 Latest drill results at the Moire Lake Project included 503 metres grading 31% total iron
− An initial mineral resource estimate at the Moire Lake Project is expected in Q4 2011
Established Iron Ore District
 Canada’s premier iron ore district
 Established rail, power and port infrastructure
- Commitment by Quebec’s Plan Nord to invest $80 billion over the next 25 years
Proven Team
 Strengthened the advisory board and the board of directors to include former
Consolidated Thompson Iron Mines management and officers
4

5. Capital Structure
Share Data and Cash Position as of October 6, 2011.
Shares Outstanding 88.0 million
Warrants 6.9 million @ C$1.50
Options 11.0 million @ C$1.00
Fully Diluted Shares Outstanding 106.1 million
Market Capitalization (based on $1.32 share price) C$84.5 million
Cash Position C$24.5 million
Fully Diluted Cash Position C46.0 million
Debt (Purchase of 17.5% Fermont Interest from C$0.5 million
Sheridan Platinum Group)
Management Ownership ~ 8%
Analyst Coverage Canaccord Genuity
Haywood Securities
Jennings Capital
Paradigm Capital
RBC Capital Markets
Salman Partners

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 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
Advisory Board: Richard Quesnel, Mick McMullen and Doug Bache
Project Finance Advisor: Marc Duchesne
6

7. 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
total global steel production
1,200,000
over the same period.
1,000,000
China
800,000 Japan
Rest of the
600,000 World
400,000
200,000
-
1980 1985 1990 1995 2000 2005 2010
7

8. Comparable Companies Analysis
EV / Contained Fe (US$/t) (EV+Capex) / Contained Fe (US$/t)
8.00
7.14
4.94
4.48
2.06
1.68
1.15
0.29 0.15 0.06
(1) (2) (1) (2)
Labrador Iron Northland New Millenium Champion Adriana Northland Adriana Labrador Iron New Millenium Champion
Mines Resources Capital Minerals Resources Resources Resources Mines Capital Minerals
Note: Share price in exchange currency as at August 12, 2011 market close
(1) Labrador Iron Mines resources of 166Mt at 57.0% Fe includes historical resource estimate of 125Mt at 57.0% Fe which is non-NI 43-101 compliant
(2) Champion Minerals based on attributable resources; includes historical resource estimate of 613Mt at 30.5% Fe (100%) which is non-NI 43-101 compliant
8

9. Why Champion Minerals?
Favourable Operating Champion Minerals’
Environment Competitive Advantage
• Established iron ore • Portfolio of 17 iron ore
mining district  the properties
Labrador Trough (brownfields to development)
• Favourable tax • Development-stage Fire
environment Lake North Project
(40% tax rebate on exploration contains coarse grained
expenditures) specular hematite 
• Access to low-cost easy to liberate
power and close to rail − Close to surface
and port infrastructure − No/low deleterious elements
• Government • Team of experienced
investment in northern project developers and
Quebec  Plan Nord mine builders
9

10. 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  Common carriers allocate capacity on a
Cluster 2 first-come, first-serve basis
 Fire Lake North connection to Bloom Lake
Cluster 3 rail will require 62 km of new rail (November
2010 Preliminary Economic Assessment)
 Alternative transportation/haulage options
Cartier
QNS&L include pipeline, which requires significantly
Private
Rail higher capital expenditures
Common
Rail
Carrier
Cartier Railway: Linked to Port-Cartier
Three Ports/  Privately owned by ArcelorMittal
Stockpile
Locations  Adjacent to west of Fire Lake North
St Lawrence Seaway
10
10

11. Multi-User Port Infrastructure
Expanding to Meet Demand
Port of Sept-Iles
 RTZ-IOC shipping facility
Pointe Noire
 Cliffs Natural Resources shipping
facilities Sept-Iles
 New multi-user port to be expanded
in two phases: phase one
expansion of 40-50 Mtpy and phase Pointe Noire
two expansion of 100 Mtpy
Port-Cartier
 ArcelorMittal shipping facility
 $2.1B expansion is underway and
will include concentrator expansion
with port and rail infrastructure
upgrades China Max ship capacity 300kt
 Located 62 km west of Sept-Iles
Courtesy of the Port de Sept Isles
11
11

13. Fermont Project Resource Base
Current NI 43-101 Compliant Resources
1000 947
900
Over 2.2 billion tonnes of
NI 43-101 compliant iron ore resources
800
700 661
600
Measured and
Indicated (M&I)
500
400
400 Inferred
300 * 15 % cut-off grade
215
200
100
0
Project Bellechasse Fire Lake North Harvey Tuttle
Location Quebec, Canada Quebec, Canada Quebec, Canada
Grade 28.7% 30.6% (M&I) 23.2%
27.7% (Inferred)
Mineralization Magnetite Specular Hematite Magnetite
Historical 91 Mt @ 30.0% Iron 41 Mt @ 31.0% iron n/a
Resources 13

14. Development
Activities
Fire Lake North Project

15. Fire Lake North Project
Growth through Development
 Champion’s flagship development project;
published a Preliminary Economic
Assessment (PEA) study in November 2010
based on 6,000 metres of drilling
− PEA indicates ability to produce 7 million
tonnes of concentrate per annum over a 14-
year mine life
− Approximately 26,000 metres of drilling
have been completed at Fire Lake North
since the November 2010 PEA
 Recent mineral resource update announced
− 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
 Metallurgy indicates coarse-grained ore with
liberation grind size similar to RTZ/IOC and
ArcelorMittal operations
15

16. Fire Lake North - Metallurgy
 High grade and coarse grained deposits with higher grade zones (See Below Left)
 Gravity separation is the typical beneficiation technique in the Fermont
mining camp; magnetic separation is not included in the current mill design
 Deposits of quartz specularite iron ore are typical of the Fermont area
− Coarser grind (-850 microns / -20 mesh) (0.85mm) means that this product will
be sold as sinter feed that comprises 80% of the global iron ore market.
− The low deleterious element levels should command a premium price.
Above: High Grade - Coarse Specular Above: Typical Quartz-Specular
Hematite Hematite-Magnetite Mineralization 16

17. Fire Lake North Development Project
PEA update will include 26,000 metres of additional drilling
 The new interpretation versus the initial PEA block model and open-pit outline; contains
increased in-pit resources and will likely reduced strip ratios.
Hornblende
Iron Fm.
Lean Iron Fm.
Marble
Basement
November 2010
PEA
Open Pit Outline 100 m
November 2010 PEA
New geological interpretation Sub-Vertical Zones were
from 2011 drilling for PEA update interpolated
Looking North
East Pit area: Section 2600 N
17

18. Fire Lake North Development Project
November 2010 Preliminary Economic Assessment – Highlights
Key Results Pre-Tax Basis
Net Present Value @ 5% US$1.64B
Net Present Value @ 10% US$0.94B
Internal Rate of Return 24.8%
Payback on Initial Capital @ 5% 2.8 Years
Based upon the following assumptions:
 Capital Costs: US$754 million (+ US$137 million, 20% contingency)
 Operating Costs: US$41.69 per tonne
 Price assumptions: US$81.40 per tonne of concentrate at 65% Fe
 Mine-Life: 14 years at 7 million tonnes/year (In Pit Resources Only)
 Exchange rate: $1 USD to $1.10 CDN
 Total Resources(1): 388 million tonnes grading 29% Fe (NI43-101 Inferred Resources)
 In Pit Resources: 250 million tonnes grading 30.5% Fe in two pits
(1) Total Resource used a 15% Fe cut-off 18

19. Fire Lake North Timeline
Development to Production Project Schedule
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
 PEA update expected November 2011; objective is to increase mine life (to
20+ years) and to reduce the strip ratio and associated operating expenses
 Grinding tests are underway to better quantify concentrator production rate
 Optional infrastructure studies on-going
19

20. Exploration Activities and Development
Milestones
Updated PEA on Fire Lake North November 2011
Initial NI 43-101 Mineral Resource Estimate for Moire Lake Q4 2011
Drilling at O’Keefe Purdy Project (hematite target) Ongoing
Metallurgical testing at Fire Lake North, Bellechasse, Harvey
Ongoing
Tuttle, Moire Lake, O’Keefe Purdy and Oil Can Lake projects
Feasibility study on Fire Lake North Q2 2012
20

21. Why Invest in Champion Minerals?
Government investment in northern Quebec  Plan Nord
Advanced-stage Fire Lake North development project 
positive economics
Portfolio of 17 iron ore properties in established iron ore
mining district
Team of experienced project developers and mine builders
Good cash position  fully funded into 2012
Favourable tax environment
Access to low-cost power and close to rail and port
21

22. Thank You
22
22

23. APPENDIX:
Exploration
Activities
2011 Exploration Program

24. 2011 Exploration Program
Focused on resource definition and expansion at Fire Lake North
2011 Exploration Drilling
Project 2011 Development Plan 2011 Joint Venture Budget ($)
Program (metres)
Fire Lake North 21,000 MRE, PEA/FS 9,450,000
Moire Lake 9,600 MRE, PEA 4,320,000
Bellechasse 5,000 MRE, PEA 2,250,000
Harvey-Tuttle Deferred to 2012 -- --
O’Keefe -Purdy 10,000 MRE, PEA 4,500,000
Oil Can Lake 8,000 MRE 3,600,000
Midway 3,000 MRE 1,350,000
Hope Lake Deferred to 2012 -- --
Claire Lake Deferred to 2012 -- --
56,600 25,470,000
 Drilling from the 2011 drilling programs will be used to conduct Mineral
Resource Estimates (MRE), to update the Preliminary Economic
Assessments (PEA) on Fire Lake North and to define the scope for a
Feasibility Study (FS)
24

25. 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
 Intersected multiple significant iron
 Historical Resources increased from 91Mt formation intervals in 2010 drill program
remaining upside potential.
 Total of 13,165m of drilling completed
 5,000-metre drill program underway  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)
25

26. O’Keefe Purdy Project: Drilling Underway
Exploration Upside
• Historical Resources of 51 Mt @ 37% Iron
• Potential to double resources minimally with deposits listed above and
obvious untested iron formation strike length
• 2011 exploration program (3 drill rigs):10,000 metres of drilling planned
26

27. Moire Lake Project
Exploration Upside
• Recent drill results included 503 metres
grading 31% total iron
Arcelor Mittal Property Boundary
•
N
Potential to significantly increase resources
• Completing a 10,400 metre program
• Mineral resource estimate due Q4 2011
• Surface outcrops of hematite
A A’
Arcelor Mittal Property Boundary
Moire Lake Property Boundary
Hole LM11-04: 27.9% Fe / 158.2 m
Includes
30.5% Fe / 130.2 m
500 Historical
meters Interpretation
New
Hole LM11-05: 25.0% Fe / 167.4 m Interpretation
Includes
28.9% Fe / 133.5 m
200 27
metres