Champion Iron Files Bloom Lake Mine Feasibility Study
March 17, 2017
Champion Iron Files Bloom Lake Mine Feasibility Study
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
Montréal, Québec, Canada: Champion Iron Limited (ASX: CIA, TSX: CIA) (“Champion” or the
“Company”) is pleased to announce the filing on SEDAR of the Feasibility Study for the Bloom Lake
Iron Ore Mine (“Bloom Lake”), the results of which were previously reported by the Company on
February 16, 2017 (the “Release”). Bloom Lake is located near the town of Fermont, in north-eastern
Quebec.
As noted in the Release, t he Feasibility Study demonstrates that recommencing iron ore mining
operations at Bloom Lake is financial ly viable and would be competitive in global iron ore markets
with the potential to be one of the region’s leading long -life iron ore mines . A production restart at
Bloom Lake would be a major contributor to the provincial and national economy.
A copy of the Feasibility Study is available under the Company’s profile on SEDAR at www.sedar.com.
About Bloom Lake
On April 11, 2016, the Company, through its subsidiary, Québec Iron Ore Inc. , acquired the Bloom
Lake assets from affiliates of Cliffs Natural Resources Inc. that were subject to restructuring
proceedings under the Companies’ Creditors Arrangement Act (Canada). Québec Iron Ore Inc. is 63.2%
owned by the Company, with the remaining 36.8% equity interest owned by Ressources Québec,
acting as a mandatory of the Government of Quebec.
The Bloom Lake property is located on the south end of the Labrador Trough, approximately 13 km
north of Fermont, Quebec, and 10 km north of the Mount -Wright iron ore mining operation of
ArcelorMittal Mines Canada. The Bloom Lake Mine is an open pit truck and shovel operation, with a
concentrator. From the site, iron concentrate can be transported by rail, initially on the Bloom Lake
Railway, to a ship loading port in Sept-Iles, Québec.
The Bloom Lake Mine has already been authorized for operation under t he federal and provincial
environmental authorities. The project was subject to an environmental impact assessment process
under Section 31 of the Provincial Environment Quality Act, which led to the first decree issued by
the Quebec government in 2008 authorizing mining activities at the Bloom Lake site.
An updated positive Feasibility Study on Bloom Lak e is available under the Company’s profile on
SEDAR (www.sedar.com).
About Champion
Champion is an iron development and exploration company, focused on developing its significant
iron resources in the south end of the Labrador Trough in the province of Québec. Following the
acquisition of its flagship asset, the Bloom Lake iron ore proper ty, the Company’s main focus is to
implement upgrades to the mine and processing infrastructure it now owns while also advancing
projects associated with improving access to global iron markets, including rail and port
infrastructure initiatives with government and other key industry and community stakeholders.
Champion’s management team includes professionals with mine development and operations
expertise who also have vast experience from geotechnical work to green field development, brown
field management including logistics development and financing of all stages in the mining industry.
For further information please contact:
Michael O’Keeffe, Executive Chairman and CEO at Tel. +1 514-316-4858
David Cataford, VP Engineering at Tel. +1 514-316-4858
For additional information on Champion Iron Limited, please visit our website at
www.championiron.com.
This news release includes certain information that may constitute "forward -looking information" under
applicable Canadian securities legislation. All statements, other than statements of historical facts, included in
this news release that address future activities, events, developments or financial performance constitute
forward-looking information. The use of any of the words "will", "expect", “anticipate”, “intend”, "believe",
"plan", "potential", “outlook”, “forecast”, “estimate” and similar expression s are intended to identify forward -
looking information. Forward-looking information is necessarily based upon a number of estimates and
assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and
other factors which may cause the actual results and future events to differ materially from those expressed or
implied by such forward -looking information, including the risks identified in Champion’s annual information
forms, management’s discussion and analysis and o ther securities regulatory filings made by Champion on
SEDAR (including under the heading "Risk Factors" therein). There can be no assurance that such information
will prove to be accurate, as actual results and future events could differ materially from t hose anticipated in
such forward -looking information. Accordingly, readers should not place undue reliance on forward -looking
information. All of Champion’s forward -looking information contained in this press release is given as of the
date hereof and is b ased upon the opinions and estimates of Champion’s management and information
available to management as at the date hereof. Champion disclaims any intention or obligation to update or
revise any of its forward -looking information, whether as a result of n ew information, future events or
otherwise, except as required by law.