CHAMPION IRON REPORTS ITS FY2026 FOURTH QUARTER RESULTS

About this update from Champion Iron Ltd.

MONTRÉAL, May 27, 2026 /CNW/ - SYDNEY, May 28, 2026 - Champion Iron Limited (ASX: CIA) (TSX: CIA) (OTCQX: CIAFF) ("Champion" or the "Company") reports operational and financial results for its financial fourth quarter ended March 31, 2026. Champion's CEO, Mr. David Cataford, said, "This year marks the tenth anniversary of Champion's acquisition of Bloom Lake mine in April 2016, a defining milestone that laid the foundation for our long-term vision. Supported by an engaged workforce, the successful execution of multiple growth projects, and the recent acquisition of Rana Gruber, Champion continues to distinguish itself with customers worldwide as a leading supplier of high-purity iron ore. Beyond our operational achievements, we are proud to create lasting value for all stakeholders through strong partnerships with governments, local communities and First Nations. Although we are near the completion of a multi-year growth capital investment cycle at Bloom Lake, our focus is to protect our financial liquidities in response to the volatile macroeconomic environment and rising fuel and freight prices. Looking forward, our revised dividend policy will align our shareholder returns with our Company's financial capacity." Conference Call Details Champion 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% fo...

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