Champion Iron announces the Departure of Its Chief Financial Officer

Press Release

MONTRÉAL, Aug. 26, 2025 – SYDNEY, August 27, 2025 –  Champion Iron Limited (TSX: CIA) (ASX: CIA) (OTCQX: CIAFF) (“Champion” or the “Company”) announces that its Chief Financial Officer (“CFO”), Donald Tremblay, will be departing the Company shortly prior to the release of the second quarter results of the 2026 financial year. The Company is actively engaged in a search for his successor. In the interim period prior to the nomination of a new CFO, certain of the Company’s executives will have direct oversight of the CFO responsibilities.

Champion’s CEO, Mr. David Cataford, said: “As an integral member of our executive team since 2022, Donald participated in the achievement of several milestones for our Company, including the completion of the Phase II project, an inaugural US$500M senior unsecured notes offering, progression of the Kami project and the ongoing construction of the direct reduction pellet feed project, which remains on track for commissioning as previously disclosed. In addition, Donald strengthened the finance team and oversaw the implementation of improvements to our accounting processes, increasing our efficiency and productivity. A global search is being undertaken for a new CFO. On behalf of the Board of Directors and management, I would like to thank Donald for his contributions over the years. We wish him great success in his future endeavours.”

About Champion Iron Limited

Champion, through its wholly-owned subsidiary Quebec Iron Ore Inc., owns and operates the Bloom Lake Mining Complex located on the south end of the Labrador Trough, approximately 13 kilometres north of Fermont, Québec. Bloom Lake is an open-pit operation with two concentration plants that primarily source energy from renewable hydroelectric power, having a combined nameplate capacity of 15 million wet metric tonnes per year that produce lower contaminant high-grade 66.2% Fe iron ore concentrate with a proven ability to produce a 67.5% Fe direct reduction quality iron ore concentrate. Benefiting from one of the highest purity resources globally, Champion is investing to upgrade half of the Bloom Lake’s mine capacity to a direct reduction quality pellet feed iron ore with up to 69% Fe. Bloom Lake’s high-grade and lower contaminant iron ore products have attracted a premium to the P62 index. Champion ships iron ore concentrate from Bloom Lake by rail, to a ship loading port in Sept-Îles, Québec, and has delivered its iron ore concentrate globally, including in China, Japan, the Middle East, Europe, South Korea, India and Canada. In addition to Bloom Lake, Champion owns the Kami Project located near available infrastructure and only 21 kilometres southeast of Bloom Lake. On July 21, 2025, Champion entered into a definitive framework agreement with Nippon Steel Corporation and Sojitz Corporation to form a partnership for the shared ownership and potential development of the Kami Project. Champion also owns a portfolio of exploration and development projects in the Labrador Trough, including the Cluster II portfolio of properties, located within 60 kilometres south of Bloom Lake.

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