Champion Bear Announces Equity Offering

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES.


Champion Bear Resources Ltd. (TSX VENTURE:CBA)("Champion Bear" or the "Company")
announced today that it intends to complete a private placement for up to
3,000,000 common shares of the Company at a price of $0.25 per share for total
gross proceeds of up to $750,000, subject to receipt of all applicable
regulatory approvals.


Champion Bear intends to use the proceeds of the offering for its exploration
programs on its wholly-owned Eagle Rock Cu-Au-Pt-Pd Property located near
Dryden, Ontario and for general corporate purposes. At the Eagle Rock Property,
Champion Bear intends to complete a High-Resolution Airborne Magnetics (HRAM)
Survey and ground surveys prior to undertaking a diamond drill program to test
new and existing targets associated with the Campbell Zone sulphide trend. Rob
Foy, P.Geo., a qualified person, of Foy Geological Services, Champion Bear's
consulting geologist, will be overseeing the exploration programs.


It is anticipated that a director of the Company is expected to purchase common
shares under the private placement. Such participation would be considered to be
a "related party transaction" as defined under Multilateral Instrument 61-101
("MI 61-101"). The transaction will be exempt from the formal valuation and
minority shareholder approval requirements of MI 61-101 as neither the fair
market value of any shares issued to or the consideration paid by such person
will exceed 25% of the Company's market capitalization.


All securities issuable under the private placements will be subject to a hold
period of four months and one day from the closing date. 


This news release shall not constitute an offer to sell or the solicitation of
any offer to buy the securities in any jurisdiction. The securities offered have
not been and will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act"), and may not be offered or sold
within the United States or to, or for the account or benefit of, U.S. persons
except in certain transactions exempt from the registration requirements of the
U.S. Securities Act. 


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.


This news release contains forward-looking statements concerning the completion
of the private placement, the use of proceeds of the private placement and the
timing and composition of the exploration programs to be completed on certain of
Champion Bear's mineral properties which are based on Champion Bear's current
internal expectations, which may prove to be incorrect. These statements are not
a guarantee of future performance and undue reliance should not be placed on
them. Such forward-looking statements necessarily involve 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, changes in general
economic, market and business conditions; and competition for, among other
things, capital and skilled personnel. The Company undertakes no obligation to
update or revise any forward-looking statements except as required by applicable
securities laws.


No regulatory authority has approved or disapproved the information contained in
this news release.

Champion Bear Resources (TSXV:CBA)
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