CHAMPION IRON REPORTS ITS FY2026 FOURTH QUARTER PRODUCTION AND SALES

About this update from Champion Iron Ltd.

MONTRÉAL, April 29, 2026 /CNW/ - SYDNEY, April 30, 2026 - Champion Iron Limited (ASX: CIA) (TSX: CIA) (OTCQX: CIAFF) ("Champion" or the "Company") reports production results and mining operating expenditures for its financial fourth quarter ended March 31, 2026. Detailed operational and audited annual financial results are scheduled to be released prior to the Company hosting a conference call and webcast on May 28, 2026. Champion's CEO, Mr. David Cataford, said: "Our team remains focused on efficiency and disciplined execution as we advance initiatives to optimize operations, strengthen sales performance and progress our growth projects. Concurrently, our DRPF project remains on schedule, with first sellable commercial production expected in the second quarter of the calendar year. In parallel, the recent closing of the Rana Gruber ASA ("Rana Gruber") transaction marks a significant milestone for Champion. It reinforces our leadership as a low carbon producer of high-purity iron ore while expanding our cash flows, positioning us to capitalize on opportunities to maximize long-term value for our shareholders and the communities in which we operate." Conference Call DetailsChampion will host a conference call and webcast on May 28, 2026, at 9:00 AM (Montréal time) / 11:00 PM (Sydney time) to discuss the results of the fourth quarter and financial year ended March 31, 2026. The conference call details are set out at the end of this press release. 1. Quarterly Highlights Operations and Sustainability Financial Results DRPF Project Update Development and Other Growth Initiatives 2. Bloom Lake Mine Operating Activities The Company performs both its plants' scheduled maintenance in the second and fourth financial quarters, which may create significant quarter-over-quarter variances in production output and mining and processing costs. Bloom Lake produced 3.4 million wmt of high-purity 66.2% Fe concentrate during the three-month period ended March 31, 2026, an 8% increase over the same period in 2025, mainly attributable to higher mill productivity and Fe recovery, partially offset by lower head grade. During the three-month period ended March 31, 2026, the Fe recovery rate increased to 80.6% from 78.3% for the same period in 2025, benefiting from improved performan...

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