Champion Bear Engages Professional Project Manager and Technical Evaluator to Provide Corporate Advisory Services and Grants Share Options

Calgary, Alberta--(Newsfile Corp. - December 13, 2023) - Champion Bear Resources Ltd. (TSXV: CBA) ("Champion Bear" or the "Company") is pleased to announce that it has entered into a corporate advisory services agreement with Dr. Owen J. Hatton, a seasoned professional boasting over 24 years of international expertise in Ni-Cu-PGM, Cu-Au porphyry, IOCG, shear-hosted Au exploration. Dr. Hatton's career spans pivotal roles at OZ Minerals, Teck Exploration, BHP Billiton, and AMEC underscoring his wealth of experience in project management, technical evaluation, and business development at senior levels across diverse geological terrains.

Dr. Hatton's invaluable background in Cu-Ni/Cu-PGM and Au projects will provide unparalleled geological and technical support as the Company continues to advance its well positioned exploration projects within Ontario, Canada.

Dr. Hatton's involvement under this agreement encompasses:

• Offering strategic counsel to the board on potential transactions related to the Eagle Rock Cu-Ni-PGM project in Ontario.

• Identifying and fostering connections for potential new projects as they arise.

• Providing geological guidance and services upon request.

The Company extends a warm welcome to Dr. Hatton, eagerly anticipating his instrumental contributions to the advancement of its exploration endeavors across Ontario.

As part of Dr. Hatton's compensation the Company has granted him options to acquire 500,000 common shares of the Company. The Company has also granted Richard Kantor, the Company's Chairman and President, options to acquire 1,110,000 common shares and Mike Sweeny, a director of the Company, options to acquire 350,000 common shares. These options were granted at an exercise price of $0.15 per share until December 13, 2028). The options granted to Dr. Hatton vest immediately and the other options vest as to one-third thereof on each of the first, second and third year anniversaries of the date of the grant.

Dr. Hatton is not engaged to provide any "Investor Relations Activities" as such term is defined in the policies of the TSX Venture Exchange.

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. Additional information about Champion Bear can be found on the Company's website at www.championbear.com and on SEDAR+ at www.sedarplus.ca. For further information, please contact: Richard D. Kantor, Chairman and President of Champion Bear at phone: (403) 229-9522.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events, or developments that the Company believes, expects or anticipates will or may occur are forward-looking information, including statements pertaining to plans to create shareholder value through execution of the Company's business plan and regarding the potential development of resources and drilling plans which may or may not occur. Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the market price of the Company's securities, metal prices, exchange rates, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes, claims and limitations on insurance coverage and other risks of the mining industry, changes in national and local government regulation of mining operations, and regulations and other matters. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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