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Champion Iron Provides Notice of Fourth Quarter and Fiscal Year 2022 Results and Conference Call Webcast Details

Financials

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PRESS RELEASE

CHAMPION IRON PROVIDES NOTICE OF FOURTH QUARTER AND FISCAL YEAR 2022

RESULTS AND CONFERENCE CALL WEBCAST DETAILS

Montréal, May 11, 2022 - Champion Iron Limited (TSX: CIA) (ASX: CIA) (OTCQX: CIAFF) (“Champion” or the “Company”) announces that it

will be hosting a conference call and webcast on May 26, 2022, at 8:30 AM (Montréal Time) / 10:30 PM (Sydney time) with senior

management, during which they will review the Company’s fourth quarter and fiscal year 2022 financial and operational results.

Champion’s audited consolidated financial statements and management's discussion and analysis for the fourth quarter and fiscal year

ended March 31, 2022 will be released prior to the conference call and webcast, and will be available in the “Financial & Regulatory Reports”

section of the Company’s website at www.championiron.com, under the Company’s profile on SEDAR at www.sedar.com and on the ASX

at www.asx.com.au.

A live audio webcast of the conference call will be accessible for a period of 90 days through Champion’s website

at www.championiron.com/investors/events-presentations.

Access to the Conference Call:

Tel. local & overseas: (+1) 416 764 8688

Tel. North America: (+1) 888 390 0546

Tel. Australia: 1800 076 068

Webcast: www.championiron.com/investors

Replay overseas: (+1) 416 764 8677

Replay N. America: (+1) 888 390 0541

Replay pass code: 919862 #

Replay expiration: Thursday, June 2, 2022, at 11:59 PM (Montréal time) / Friday, June 3, 2022, at 1:59 PM

(Sydney time)

About Champion Iron Limited

Champion Iron Limited, through its subsidiary Quebec Iron Ore Inc., owns and operates the Bloom Lake Mining Complex, located on the south end

of the Labrador Trough, approximately 13 km north of Fermont, Québec. Bloom Lake is an open-pit operation with two concentrators that primarily

source energy from renewable hydroelectric power. The Bloom Lake Phase I and Phase II plants have a combined nameplate capacity of 15 Mtpa

and produce a low contaminant high-grade 66.2% Fe iron ore concentrate with the proven ability to produce a 67.5% Fe direct reduction quality

concentrate. Bloom Lake’s high -grade and low contaminant iron ore products have attracted a pr emium to the Platts IODEX 62% Fe iron ore

benchmark. The Company ships iron ore concentrate from Bloom Lake by rail, to a ship loading port in Sept -Îles, Québec, and sells its iron ore

concentrate to customers globally, including in China, Japan, the Middle East, Europe, South Korea, India and Canada. In addition to the Bloom

Lake Mining Complex, Champion owns a portfolio of exploration and development projects in the Labrador Trough, including the Kamistiatusset

Project located a few kilometres south-east of Bloom Lake, and the Consolidated Fire Lake North iron ore project, located approximately 40 km

south of Bloom Lake.

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For further information , please contact:

Michael Marcotte, CFA

Senior Vice-President, Corporate Development and Capital Markets

514-316-4858, Ext. 128

[email protected]

For additional information on Champion Iron Limited, please visit our website at: www.championiron.com.

This press release has been authorized for release to the market by the CEO of Champion Iron Limited, David Cataford.