11:53 AM EST - Champion Minerals Inc. : said it reached an agreement with Sheridan Platinum Group Ltd. enabling Champion to buy the Vendor's 17.5% interest in the Joint Venture among Champion, the Vendor and Fancamp Exploration Inc. covering 16 iron-rich mineral concessions in the Fermont Iron Ore District of north-eastern Quebec. Champion currently owns a 65% interest in the Joint Venture and, on completion of the acquisition of this additional 17.5%, Champion would increase its ownership to 82.5%. Fancamp retains the other 17.5% interest. The Vendor and Fancamp also retain a 3% royalty, which may be reduced to 2% by paying $3 million. Champion Minerals Inc.
shares V.CHM are trading even at $0.90.
