Champion Bear acquires Alcona gold property in Dryden area



    (TSX Venture: CBA)

    CALGARY, June 28 /CNW/ - Champion Bear Resources Ltd. ("Champion Bear")
is pleased to announce that it has entered into an agreement to acquire a 100%
interest in four claims (35 units) located in the Sioux Lookout Mining
Division, Ontario and known as the Alcona Gold Property. The property is
located approximately 80 kilometres northeast of Dryden and lies within the
same greenstone formation which hosts Champion Bear's Plomp Farm Gold
Property. The property includes the former Alcona Gold Mine which was active
from 1936 to 1937. It has a 325-foot (99-metre) shaft with levels cut at
180 feet (55 metres) and 305 feet (93 metres). Operations were suspended in
1937, due to depressed markets. Sporadic exploration since the early 1990s has
identified a number of other gold showings on the property.
    Champion Bear paid the owner of the mineral claims $25,000 upon execution
of the agreement and will earn a 100% interest in the property upon paying the
owner $15,000 and incurring $14,000 in expenditures on the property, on or
prior to each of the first, second, third and fourth anniversary dates of the
execution of the agreement. The owner of the mineral claims has retained a 2%
NSR, one-half of which may be purchased by Champion Bear for $1,000,000.
    Prior to completing the acquisition of the property, Champion Bear
engaged Watts, Griffis and McOuat Limited ("WGM") to carry out a due diligence
site visit to characterize the geological environment and confirm the
mineralization. Grab samples were collected by WGM senior geologist J. Smolen
P. Geo., at several trench and outcrop locations along a 300 metre strike
length immediately northwest of the former Alcona mine shaft. See Table 1 -
WGM Grab Sample Locations on Alcona Gold Property.
    Very strong gold and silver values up to 84.2 g Au/t and greater than
100 ppm Ag were encountered in three of the 15 samples. See Table 2 - Assay
Results - WGM Grab Samples on Alcona Gold Property.
    Gold mineralization on the property for the most part is associated with
galena, sphalerite, chalcopyrite and pyrite in quartz veins along a
shear/fault structure between gabbroic meta-sedimentary rocks locally intruded
by diorite and quartz porphyry.

    
           Table 1 - WGM Grab Sample Locations on Alcona Gold Property

    Sample No.      Northing       Easting     Elevation      Sample Location
    ----------      --------       -------     ---------      ---------------
    8976            5547860        597242      376            A1-1
    8977                                                      A1-2
    8978            5547964        597029      378            A2-1
    8979                                                      A2-2
    8980                                                      A2-3
    8981                                                      A2+25mN-01
    8982                                                      A2+25mN-02
    8983                                                      A2+25mN-03
    8984                                                      A2+25mN-04
    8985            5548022        596939      419            A-3
    8986            5548014        596924      416            A-4
    8987            5548108        596804      388            A-5-1
    8988                                                      A-5-2
    8989                                                      A-5-3
    8990            5547853        597337      401            A-7


        Table 2 - Assay Results - WGM Grab Samples on Alcona Gold Property

                  Au-   Au-
           Au     1(1)  2(2)  Ag      Pb      Cu      Zn      Mo   Pt    Pd
    Sam-   ppb    g/t   g/t   ppm     ppm     ppm     ppm     ppm  ppb   ppb
    ple    AR-    FA-   FA-   AR-     AR-     AR-     AR-     AR-  FA-   FA-
    No.    MS     GRA   GRA   MS      MS      MS      MS      MS   MS    MS
    -------------------------------------------------------------------------
                                    greater greater greater        less  less
                                       than    than    than        than  than
    8976    2680  13.6  5.53   59.3   10000   10000   10000   104   0.5   0.5
         greater            greater greater
            than               than    than
    8977   10000  84.2          100   10000    7380     810  13.1     -     -
    8978     512              0.678    67.8     183    51.2  3.89     -     -
    8979     250              0.419      35     159     123  1.58     -     -
    8980     7.7              0.098    13.9     186    33.9  1.12     -     -
    8981     107              0.139    15.4    18.2    21.8  11.8     -     -
    8982     123              0.432    12.5     222    86.5  27.8  39.9  19.5
            less
            than
    8983     0.5               0.07    6.67    55.2    72.1  3.31     -     -
    8984    21.4              0.234    19.1     175    80.2  16.2     -     -
    8985     175              0.655    12.4     280     109  2.68     -     -
    8986     208              0.306    12.7     236    88.2  0.35     -     -
    8987    6140  7.27         19.4    4040     142     726  4.24  54.9  20.8
    8988     217              0.243    27.1    26.9     103  13.9     -     -
         greater            greater
            than               than
    8989   10000  36.3          100    7100    6650     124   675  71.2    35
         greater            greater greater
            than               than    than
    8990   10000  71.7          100   10000    4210    2310  18.3  19.9  10.4
    

    Notes:
    (1) Au-1 refers to the first fire assay received on the samples.
    (2) Au-2 refers to the second fire assay received on the samples.

    Initially, Champion Bear plans to compile all available technical data on
the property. A limited orientation sampling program will then be undertaken
later this summer to help develop a focused exploration program for 2008.
    The grab samples collected by Mr. Smolen were sealed in plastic bags and
delivered by WGM personnel to the Greyhound depot for shipment to Activation
Laboratories in Ancaster, Ontario. All samples were analysed for base and
precious metals using the following assay procedures, AR-MS (Aqua Regia
digestion with Mass Spectrometry) and/or FA-MS (Fire Assay with Mass
Spectrometry), including Zn, Pb, Cu, Ni, Co, Ag, As, Bi, Ba, W, Pt and Pd.
Several samples were selected for whole rock analyses using FUS-ICP (Fusion
with Inductively Coupled Plasma). Five of the higher grade gold samples were
re-assayed using FA-GRA (Fire Assay with Gravimetric finish) to confirm the
gold analyses.
    The QP for the technical aspects of this news release is Joe Hinzer
P.Geo., President of WGM.

    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.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.





For further information:

For further information: Richard D. Kantor, Chairman and President of
Champion Bear Resources Ltd. at Phone: (403) 229-9522 or Fax: (403) 229-9518;
Champion Bear's website is www.championbear.com

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CHAMPION BEAR RESOURCES LTD.

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