Champion Bear Completes 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 has completed the private placement of
3,000,000 common shares of the Corporation at a price of $0.25 per share for
total gross proceeds of $750,000.


Champion Bear intends to use the proceeds of the offering to explore and advance
the Company's base and precious metals projects in Ontario, which include the
Eagle Rock and Plomp Farm properties near Dryden, Ontario as well as the Iron
Mask property, Hess and Ermatinger joint ventures in the Sudbury Mining Camp.


A director of the Company purchased common shares under the private placement.
Such participation is considered to be a "related party transaction" as defined
under Multilateral Instrument 61-101 ("MI 61-101"). The transaction is 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 exceeds 25% of the Company's market
capitalization.


All securities issuable under the private placement 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 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.

Champion Bear Resources (TSXV:CBA)
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