Possible Extension Of Iron Creek Trend Onto Twin Peaks Cobalt Project

TORONTO - Champion Electric Metals Inc. has received the final reports and fully processed data for the UAV-based aeromagnetic survey conducted by MWH Geo-Surveys at the Twin Peaks Project, Lemhi County, ID. The principal findings from the Survey support a possible southeasterly continuation along strike of the favourable rocks and structures that host known copper-cobalt mineralization at the Iron Creek Project, which is located adjacent to the Twin Peaks Project.

The new high-resolution magnetics data revealed a sharp discrimination between magnetite-bearing and magnetite-deficient metasedimentary strata in the western portion of the Twin Peaks Project. This magnetic contrast approximates the contact of the Coarse Unit with the overlying Banded Unit of the Apple Creek Formation. The lower portion of the Banded Unit is host to significant copper-cobalt mineralization at the adjacent Iron Creek Project of Electra Battery Materials, including both the Iron Creek resource and the Ruby Zone discovery. Superposition of UAV-based aeromagnetic data at the Twin Peaks Project onto regional USGS aeromagnetic coverage allows recognition of the stratigraphic interval at Twin Peaks Project that is inferred to have the greatest potential to host additional Iron Creek-style copper-cobalt mineralization.

"The apparent southeasterly continuation along strike of the Iron Creek trend adds to our excitement about the potential of the western portion of the Twin Peaks Project," said President and CEO, Jonathan Buick. "Results of our recently completed Phase I program of stream sediment and rock sampling are eagerly anticipated and will likely generate more targets across the property for our Phase II efforts.”

The survey comprises 630 km of east-west flight lines and over 1.4 million readings at approximately one-half metre spacing. Average sensor height was 32 m above ground level and flight line spacing was 50 m. The data have been examined for quality assurance and subjected to additional processing and interpretation.