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


Champion Bear Resources Ltd. ("Champion Bear" or the "Company") (TSX
VENTURE:CBA) announced today that it has entered into a debt conversion
agreement with Matrix GeoTechnologies Ltd. ("Matrix"), Champion Bear's provider
of geophysical services, pursuant to which it will issue an aggregate of 99,616
common shares at a deemed price of $0.50 per share for past geological services
in the amount of $49,808 rendered to Champion Bear. The shares for debt
settlement is subject to the approval of the TSX Venture Exchange.


All of the common shares issuable under the shares for debt settlement 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 relating to the issuance
of shares pursuant to and completion of a shares for debt settlement 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.