1. 201311| championironmines.comFSE: P02

2. Champion Iron Mines Champion Iron Mines 43-101 43-101 2 3. Fermont (755 km2) 121 201327 51NI 43-101 9.10+ 41.85 100%, 1500.5%NSR 2.5%NSRAttikamagen (310 km2) 1731.3%2002 DSO Attikamagen2%NSR()31. Champion Cartier Iron7Cluster365 2. 2013 3 25 "Champion" 3. 20131033 4. CFLN 20132720 930 59808%33(IRR) 30.9%3.4Fermont 4700 102 - - 50004 5. 201311. 1.1347,000,000$3.00 (20150517) Fancamp 15,000,000 $0.25 (20150717) Baotou7,000,000 15,000,000 22,000,000 834$1.00 168,085,609 0.25 )34001500 / ~ 26.7%5 6. 200 Tom Larsen* Donald A. Sheldon, LLB., P.Eng.* Alexander Horvath, P.Eng.* William Harding Francis Sauv Harry Burgess, P.Eng. Paul Ankcorn James Wang Tom Larsen Miles Nagamatsu Alexander Horvath, P.Eng. Martin Bourgoin, P.Geo. Beat Frei Jeff Hussey, P.Geo. Jean-Luc Chouinard, P.Eng., M.Sc. Bruce Mitton, P.Geo. Jorge Estepa Katrina Chua & Doug Bache; Jrome Cliche6 7. Champion? Champion Fermont 12Brownfield (755 km2) 40% CFLN 51 , 7 8. (NI 43-101) Consolidated Fire Lake North15 FeT% FeT%FLN - West* FLN - East* FLN - Don Lake Bellechasse Oil Can - Oxide Oil Can - Mixed *24 3 035.4 34.2 21.4405 262 5232.6 29.6 26.5----35.071931.03,56727 1,215329 192 188 215 972 924 2,821 FeT% 30.9 28.7 25.3 28.7 33.2 24.1 28.8Other Fermont Holdings Mineral Resource Estimates @ 15% FeT cut-off Harvey-Tuttle Moire Lake 947 27 5,09535.0164 88330.5 30.923.2417 4,18529.4 27.65136 35004000 Oil Can 160020008 9. (QNS&L): CFLN PEA Base CaseBloom 62 32 14CFA1 94 Champion 310 QNS & Links Sept-Iles Pointe Noire Bloom LakeQNS&L Cartier : Mont Wright Port-Cartie Fire Lake Mt. Wright Arcelor Mittal 9 10. Pointe Noire CFLN1820143 31 5000$220M 25% Sept-Iles 1/ RTZ-IOC Pointe Noire Pointe NoirePointe NoireCartier ArcelorMittal China Max 30 21: 62 Courtesy of the Port de Sept les10 11. 11 12. 161 kV 12 13. CFLN 20132- 20132 30.9% (IRR), 8% 1 $905%$478%$3310%$268% 3.4 : 2 3 (MRE) $13.944 (Fire Lake North & Pointe Noire) $34.58/(20); $27.99/(15 115 /62%(1-5) 110 /62%(6-20) 19.6 1:1 2:74:1 20 1.56:1 (13); 2.02:1 (15) : 693.5 31.5% (NI43-101) : 521.6 30.5% (NI43-101), 15% 464.632.4%15%; 39.9 %1. 2. 3. Champion66%62%513 14. ( / ) 201-5 18.8912.76,,4.383.89,4.053.660.130.124.805.422.342.1434.5827.99(113360)6.227.40(59260)3.257.2944.0542.68 () Pointe NoireIndirect Costs687.7Pointe Noire158.253.2,,,(EPCM)106.5140.5133.7FLN114.61,394.4 (100%200.013.4213.41,607.914 15. 2011 2012 2013 2014 2015 2016 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 , Moir Lake Oil Can Oil Can : 15 16. 2013272000/(3500)(2400) 201319 15% 6.935, 31.5% (FeT) 5.216, 30.1% (FeT)CFLN www.championironmines.com16 17. - 201281 40 850-206566% 66(Fe), 0.52%2% 5% 0.141 17 18. : 1 (NI 43-101) : = 34.7% (0%$18,4413.95%$9,4004.18%$6,4654.3210%$5,0814.428%$587M1.9: . AG mill1 3152.175 CFLNOil Can . 18 19. 19 20. 20 21. Oil Can 11 9.7233.2% 15% 9.24- 2011545 400 To view a larger more detailed version of this map please visit: http://www.championironmines.com/vns-site/page-oil_can.html21 22. Moire : 2012329 : Arcelor Mittal Property Boundary 1.6430.5% 4.1729.4% DDH LM11-125.0331% A ArcelorMittal Mont-WrightA 500 meters22 23. Moire Bloom Lake(8),500 meters23 24. Oil Can 9800() ) OC11-05OC11-07 OC11-08OvbOC11-02OC11-19OC11-01IF 197.2m @ 26.8% incl. 145.5 @ 28.1%IF303.4m @ 34.7% incl. 130.8m @ 36.5% 545.7m @ 33.7% incl. 442.3 @ 36.4%163.1m @ 30.5% 401.5m @ 30.7% incl. 213.5 @ 33.1%190.0m @ 30.6%200 metres24 25. Oil Can ()OC11-14OC11-16 OC11-03OC11-10Ovb191.7m @ 28.2% 311.4m @ 27.6% incl. 269.0m @ 29.2%224.0m @ 28.1% incl. 140.0m @ 30.0%IF 472.2m @ 28.0% incl. 119.6m @ 35.2%200 metres25 26. Oil Can 5800 () OC11-12OC11-13OC11-15OC11-09221.2m @ 25.0% incl. 128.9m @ 28.7%292.5m @ 25.8% Incl. 113.8m @ 30.4%OC11-04OvbIF328.9m @ 31.5% incl. 111.1m @ 32.9%141.5m @ 29.2% Incl. 179.5m @ 32.8% 414.1m @ 25.1% incl. 139.0m @ 29.5%200 metres26 27. Champion?$33 8%2013212(755),5 51NI43-101Oil Can :,18.9628.7%661000 527 28. 28 29. www.championironmines.com FSE: P0220 Adelaide Street East, Suite 301, Toronto, ON M5C 2T6| 416 866 220029 30. .30 -193 -229 -215 9.88 -265 -307 2.30. * -296 -294 -3041800IRON ORE IN MILLION TONNES (Mt)1600 14001200 1000-163.2 -186.678.9-220 80.6 139.365.8Supply Demand includes Chinas domestic requirements based on its CAGR Other Countries Production (min. 62% FeT) South Africa Production (min. 62% FeT) India Production (min. 62% FeT)800Canada Production (min. 62% FeT)600Brazil Production (min. 62% FeT)400Australia Production (min. 62% FeT) Total Iron Ore Supply (including