Champion Iron Limited is temporarily shutting down operational activities at its Bloom Lake mine in response to forest fires north of its operations. In the evening of July 12, 2024, the community of Labrador City, located approximately 20 kilometres from Bloom Lake, was ordered to evacuate. With the forest fires now only a few kilometres from Bloom Lake and to prioritize the safety of its employees, the Company initiated its emergency response protocol and is gradually evacuating its workforce.

Champion is collaborating with local and regional authorities and mobilized teams, including its fire brigade, to mitigate the impact of the forest fires on its infrastructure and initiated preventive measures to protect higher risk facilities. The Company expects to provide additional information as the situation evolves.