Champion Bear Resources Ltd. (”Champion Bear”) has received the final assay results from its recently completed drill program at its Halcyon property located in Parkin Township, northeast of Sudbury, Ontario. Anomalous nickel mineralization ranging from 147 to 611 ppm Ni was encountered at shallow depth in sheared mafic volcanics at or near the intersection of two major structures.

Two diamond drill holes totaling 461.6 metres were drilled to follow-up anomalous nickel mineralization intersected previously by drill hole HAL04-10 (see Champion Bear’s news release dated October 26, 2004) and a nearby induced polarization (IP) geophysical anomaly. HAL-04-10 intersected anomalous nickel assaying up to 2,949 ppm (0.29% Ni) over 3.6 metres within a 21.3 metre section of sulphide-bearing foliated mafic volcanic rocks.

Hole HAL-07-11 (141.6 metres) collared 20 metres southwest of HAL-04-10 hole bearing 045 degrees to undercut the anomalous zone. This hole encountered anomalous nickel values ranging from 148 to 611 ppm Ni for the entire sampled core length (38.8 metres) of foliated mafic volcanic rocks which were intersected from 35.9 to 103 metres. Anomalous mineralization in both holes HAL-04-10 and HAL-07-11 was terminated at the fault bounded Huronian unconformity.

Drill hole HAL-07-12 was collared 5.0 metres northwest of HAL-07-11 at an azimuth of 315 to test for the westerly extension of the anomalous nickel zone and a nearby IP anomaly. This hole drilled in mafic volcanics for its entire length almost parallel to the Huronian unconformity. HAL-07-12 intersected sporadic anomalous nickel mineralization ranging from 147 to 294 ppm Ni in the upper part of the hole between approximately 18.0 to 83.8 metres within foliated mafic volcanic rocks. The source of the IP anomaly is believed to be 2 to 4% pyrite, pyrrhotite and trace amounts of chalcopyrite intersected between 262.1 to 264.0 metres. This section contained geochemically anomalous copper, zinc and nickel ranging from 107 to 119 ppm Cu, 154 to 232 ppm Zn and 145 to 161ppm Ni.

These holes were all drilled within or near the intersection of two fault structures, the projected northeasterly trending extension of the “Whistle Offset Dyke Structure” and the fault bounded northwest trending Huronian sedimentary unconformity. The “Whistle Offset Dyke Structure” hosts the FNX Podolsky zone located about 1.5 kilometres to the southwest and has also been identified on the adjacent “Post Creek” property of Namex Explorations Inc. situated immediately to the south of the Halcyon property. The former Milnet mine lies along the Huronian unconformity approximately three kilometres to the northwest.

Champion Bear intends to undertake a detailed structural analysis and additional geophysical surveys to determine if the anomalous nickel may represent leakage from a deeper or fault displaced source and will also investigate other IP anomalies located along the “Whistle Offset Dyke Structure”.

Core samples were split by hydraulic splitter and sealed in plastic sample bags and were hand delivered to the SGS sample preparation facility located in Garson, Ontario. Once prepared, samples were forwarded directly to the SGS Minerals Services Laboratory in Don Mills, Ontario, an ISO accredited analytical facility.

All samples were analysed using a trace and base metal 32 element package (code ICP12B) including Zn, Pb, Cu, Ni, Co, Ag, As, Bi, Ba and W. Gold was completed by 30 gram fire assay (method FAI303).

The qualified persons responsible for the technical content of this press release are Paul Dunbar (P.Geo), a Senior Associate geologist of Watts, Griffis and McOuat Limited, who supervised the drill program and Joe Hinzer (P.Geo), President of Watts, Griffis and McOuat Limited. Drilling was contracted to Boart-Longyear.

Champion Bear is a mineral exploration company focused exclusively on the historically prospective regions of Ontario. The company’s primary target is platinum group and precious metals and to a lesser extent polymetallic base metal and pegmatite-hosted tantalum deposits. Champion Bear’s aim is to create shareholder value through selective property acquisition and joint venture 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.

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.

This news release contains a forward-looking statement concerning the company’s intention to complete additional exploration on the Halcyon property which is based on Champion Bear’s current internal expectations. This statement is not a guarantee of future performance and undue reliance should not be placed on it. Such forward-looking statement necessarily involves known and unknown risks and uncertainties that are common to junior mineral exploration companies. These risks and uncertainties include, among other things, Champion Bear’s need for additional funding to continue its exploration efforts and changes in general economic, market and business conditions. The company undertakes no obligation to update or revise any forward-looking statements except as required by applicable securities laws.

For further information

Richard D. Kantor, Chairman and President of Champion Bear Resources Ltd., Phone: (403) 229-9522, Fax: (403) 229-9518
Champion Bear’s website is www.championbear.com

Source: Champion Bear Resources Ltd.

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