• Drill Hole PF18-98 records multiple intersections including 1.0 m at 3.65 g/t Au, combined 6.0 m equal to or greater than 1.0 g/t Au, combined 11.0 m equal to or greater than 0.5 g/t Au and combined 23.0 m equal to or greater than 0.3 g/t Au
• Drill Hole PF18-89 records intersection including 1.0 m at 3.04 g/t Au, combined 4.0 m equal to or greater than 1.0 g/t Au, combined 8.0 m equal to or greater than 0.5 g/t Au, combined 12.0 m equal to or greater than 0.3 g/t Au
• 15 new drill holes of which 12 new drill holes had intersections equal to or greater than 0.3 g/t Au.
• Total new drilling equal to 2,887 m averaging 192.46 m per drill hole

CALGARY, Alberta, Jan. 17, 2019 (GLOBE NEWSWIRE) — CHAMPION BEAR RESOURCES LTD. (CBA.V) (“Champion Bear” or the “Company”) is pleased to announce results from the Q4 2018 Plomp Farm infill drilling program on its 100% owned project located 20 km west of Dryden, Ontario, Canada.

The results for the latest 15 NQ diamond drill holes in the Plomp Farm West deposit are summarized in Table 1 below. The drilling program was designed to collect data predominantly within the top 200 meters of the surface to both fill historical data gaps and complement existing data from 125 drill holes and wedge holes that range as deep as 918 m.  Table 2 provides details of collar location and hole orientation.  A plan view map is attached identifying the Q4 2018 drilling program.

Table 1 – Plomp Farm West Gold Project – Significant Intercepts from 15 Diamond Drill Holes

Table 2 – Plomp Farm West Gold project – Collar Locations for Q4 2018 Diamond Drilling

Sampling consisted of sawing the core in equal halves along the main axis and shipping one of the halves to the Activation Laboratories preparation in Dryden Ontario.  The samples are crushed and pulverized before being sent to Activation Laboratories analytical facility in Thunder Bay Ontario for analysis for gold by fire assay with ICP finish on 50 g aliquot.  All remaining elements were analyzed with an aqua regia digestion and multi-element ICP.  Champion Bear uses a comprehensive QA/QC protocol, including the insertion of blanks, standards and pulp duplicates.

Mr. Todd McCracken, PGeo, Manager-Mining, WSP Canada Inc. is the qualified person (“QP”) under the meaning of Canadian National Instrument 43-101 Standards for Disclosure of Mineral Projects, has reviewed and is responsible for the technical content of this news release.

On Behalf of the Company,

Richard Kantor, Chairman and President

for further information, please contact Champion Bear at +1-403-229-9522.

Champion Bear is a mineral exploration company focused exclusively on the historically prospective regions of Ontario. The Company’s primary targets are platinum group metals, precious metals, and polymetallic base metals deposits. Champion Bear’s aim is to create shareholder value through selective property acquisition followed by focused exploration emphasizing drilling. The Company has assembled a large land position in the Dryden and Sudbury areas, totaling over 16,000 hectares. Additional information about Champion Bear can be found on the Company’s website at www.championbear.com and on SEDAR at www.sedar.com.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events, or developments that the Company believes, expects or anticipates will or may occur are forward-looking information, including statements regarding the realization of the preliminary economic analysis for the Project, expectations of future cash flows, the proposed plant expansion, potential expansion of resources and the generation of further drilling results which may or may not occur. Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the market price of the Company’s securities, metal prices, exchange rates, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes, claims and limitations on insurance coverage and other risks of the mining industry, changes in national and local government regulation of mining operations, and regulations and other matters.. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/da8ee4d0-8883-4cf8-92b4-210708e47327