Champion bear announces filing of financial statements



Mr. Richard Kantor reports

Champion Bear Resources Ltd. has filed its annual financial statements for the fiscal year ended Dec. 31, 2019, and the interim financial statements for the three months ended March 31, 2020, related management's discussion and analysis, and officer certificates on SEDAR, as required by applicable Canadian securities laws. The Company previously announced that it would miss the filing deadline to file its Financial Statements, the MD&A and the related officer certifications (collectively, the "Filings"). A management cease trade order ("MCTO") was issued by the Alberta Securities Commission (the "ASC"), effective as of June 16, 2020, in connection with the filing delay. Champion Bear is providing this status update in accordance with National Policy 12-203 - Management Cease Trade Orders ("NP 12-203"). The Company confirms as of the date of this news release that there is no other material information concerning the affairs of the Company that has not been generally disclosed. Upon the filing of the Filings, the Company believes that it has satisfied the conditions of the ASC in order to have the MCTO lifted. In the interim, management and other insiders of the Company continue to be subject to a trading black-out policy as described, in principle, in section 9 of National Policy 11- 207 - Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions.

About Champion Bear

Champion Bear is a mineral exploration company focused exclusively on the historically prospective regions of Ontario. The Company's primary targets are platinum group metals, precious metals, and polymetallic base metals deposits. Champion Bear's aim is to create shareholder value through selective property acquisition 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.