MONTRÉAL, April 11,
2022 /CNW/ - Champion Iron Limited (TSX: CIA)
(ASX: CIA) (OTCQX: CIAFF) ("Champion" or the "Company") announces
that its Chief Financial Officer ("CFO"), Natacha Garoute, will be departing the Company
following the 2022 fiscal year end results. The Company is actively
engaged in a search for her successor. In the event of an interim
period prior to the nomination of a new CFO, the Company's
executive team and finance department will have direct oversight of
the CFO responsibilities.
Champion's CEO, Mr. David Cataford, said: "As an
integral member of our executive team since 2018, Natacha
participated in the achievement of several milestones for our
Company over the recent years, including our Phase II expansion
project which remains on track for completion as previously
disclosed. A global search is being undertaken for a new CFO. On
behalf of the Board of Directors and management, I would like to
thank Natacha for her contributions over the years. We wish her
great success in her future endeavours."
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 a
concentrator that primarily sources energy from renewable
hydroelectric power. The Bloom Lake Phase I plant has a nameplate
capacity of 7.4 Mtpa and produces a low contaminant high-grade
66.2% Fe iron ore concentrate and proved
its ability to produce a 67.5% Fe direct reduction quality
concentrate, which has attracted a premium 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 ongoing
construction to complete the Bloom Lake Phase II project, 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.
Forward-Looking information
This press release includes certain information that may
constitute "forward-looking information" under applicable
securities legislation. All statements, other than statements of
historical facts, included in this press release that address
future events, developments or performance that Champion expects to
occur, including statements related to the search for a successor
CFO, nominating a new CFO, oversight of the CFO responsibilities
and the Phase II expansion project and its completion schedule, are
forward-looking statements. Forward-looking statements are
statements that are not historical facts and are generally, but not
always, identified by the use of words such as "plans", "expects",
"is expected", "budget", "scheduled", "estimates", "continues",
"forecasts", "projects", "predicts", "intends", "anticipates",
"aims", "targets" or "believes", or variations of, or the negatives
of, such words and phrases, or state that certain actions, events
or results "may", "could", "would", "should", "might" or "will" be
taken, occur or be achieved. Although Champion believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such forward-looking statements involve
known and unknown risks, uncertainties and other factors, most of
which are beyond the control of the Company, which may cause the
Company's actual results, performance or achievements to differ
materially from those expressed or implied by such forward-looking
statements. Factors that could cause the actual results to differ
materially from those expressed in or implied by forward-looking
statements include those factors discussed in the section entitled
"Risk Factors" of the Company's 2021 Annual Information Form and
the risks and uncertainties discussed in the Company's management's
discussion and analysis for the year ended March 31, 2021, both available on SEDAR at
www.sedar.com, the ASX at
www.asx.com.au and the Company's website
at www.championiron.com. There can be no
assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
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 based 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 new
information, future events or otherwise, except as required by
law.
This press release has been authorized for release to the
market by the CEO of Champion Iron Limited, David Cataford.
SOURCE Champion Iron Limited