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CHAMPION IRON PROVIDES AN UPDATE ON ITS ONGOING COLLECTIVE AGREEMENT NEGOTIATIONS

Newswire.ca - Mon Feb 5, 4:17PM CST

MONTRÉAL, Feb. 5, 2024 /CNW/ - (Sydney, February 6, 2024) - Champion Iron Limited (TSX: CIA) (ASX: CIA) (OTCQX: CIAFF) ("Champion" or the "Company") announces that its unionized employees represented by the Syndicat des Métallos (the "Métallos"), representing approximately 63% of the workforce at the Bloom Lake mine ("Bloom Lake"), voted against the Company's proposed terms towards a new collective bargaining agreement ("CBA") and voted in favor of a strike action mandate (the "Strike Mandate"). The Strike Mandate enables the Métallos to initiate at any time a strike if the ongoing discussions do not conclude in a new CBA. While negotiations continued over the last few days, including a mediation process, the parties did not come to an agreement in principle for a new CBA.  The Company remains collaborative with the Métallos to find common grounds for a new CBA. The Strike Mandate and ongoing discussions do not impact operations at Bloom Lake at this time.

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