Champion Bear Commences Drilling.

CALGARY, Alberta--(BUSINESS WIRE)--Sept. 29, 1997--Champion Bear (Alberta Stock Exchange CBA.)

PLOMP FARM

Champion Bear Resources Ltd. (ASE:CBA) (the "Corporation") wishes to announce that a drill program will commence immediately on its wholly owned Plomp Farm gold prospect near Dryden, Ontario. Mineralization at the Plomp Farm is hosted by a quartz-sericite-sulphide schist horizon (alteration zone) that is localized near the contact between metasedimentary rocks and felsic intrusive/volcanic complex, a similar setting to the Hemlo gold deposit and to the nearby Thunder Lake gold deposit currently being developed by the Teck/Corona joint venture partnership.

Three mineralized zones within the main horizon will be targeted by this program on the Plomp Farm. Step-out drilling is planned on the Ardis Zone where in the Corporation's most recent drilling program, as announced by the Corporation on July 18, 1997, Hole PF-76 encountered visible gold and had assay results of 29.990 grams of gold per tonne, over 0.9 meters, which, on a re-run, resulted in 35.11 grams of gold per tonne. The drill program will also include fill-in and step-out drilling on the Main Zone and Main East Zone.

SEPARATION RAPIDS 

In other developments, the Corporation also wishes to announce commencement of an exploration program consisting of geological mapping, lithochemical survey and mobilization of a drill on to its wholly-owned Separation Rapids property located approximately 60 kilometers north of Kenora, Ontario. The area has recently gained economic importance due to the emergence of mineralization characteristics that are comparable to world-class rare-metal pegmatite districts present at the Tanco Mine (80 km to the northeast in Manitoba) and the Bikita Mine in southern Zimbabwe, Africa.

The Separation Rapids property contains several important rare-metal pegmatite bodies that are part of the Separation Rapids pegmatite group as delineated by Dr. Fred Breaks, a geoscientist with the Ontario Geological Survey. These pegmatites contain minerals indicative of a chemically and mineralogically, highly-evolved pegmatite system which is extremely favourable for presence of economically-significant deposits of ceramic-grade petalite (a lithium mineral), tantalum, cesium and rubidium. Such commodities have diversely-important uses in electronics, space-age alloys, rechargeable batteries, ceramics and glass products, the pharmaceutical industry and specialty performance drilling fluids. Ceramic grade petalite and tantalum are currently in particular demand, selling respectively for $270/ton (US) of concentrate and $40/pound (US) (for concentrate that contains 40 percent Ta(2)O(5)). An important drill target is Marko's Pegmatite, the largest body in the Eastern pegmatite subgroup. The zoned dyke contains a core unit that contains up to 95 percent petalite and widespread tantalum mineralization in the form of wodginite, tentalite and microlite. Wodginite is the chief ore mineral for tantalum at the Tanco Mine in nearby Manitoba. An OGS grab sample from Marko's Pegmatite registered 1 percent Ta(2)O(5) the highest value thus far reported in the Separation Rapids area. It is also noted that Dr. Breaks has verified the area's first occurrence of polluoite. Polluoite is very rare and the only known ore mineral for cesium, a metal of economic importance in the production of efficient deep-drilling solutions for the petroleum industry.

A second significant drill target will be Pegmatite #7, from which Dr. Breaks reports further high grade values of 0.22 percent Ta(2)O(5) over 0.5 meters in channel sampling. The analysis was done at the OGS Laboratory by X-Ray Fluorescence methodology. The presence of extraordinary high rubidium contents in K-feldspar, which locally exceed the 3.5 percent analytical limit at the OGS Laboratory indicate that this pegmatite is the most evolved rare-metal pegmatite ever discovered in Ontario.

The Corporation also wishes to announce that, pursuant to an ongoing private placement of common shares, it recently issued 289,459 common shares at the price of $2.25 per share for aggregate consideration of $651,283. The proceeds from this placement will be used to finance the ongoing exploration and development activities on the Corporation's properties.

Certain statements in this Press Release are forward looking. Such forward looking statements involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. In particular, there is no assurance that the Corporation's properties will prove to be commercial, that minerals in commercial quantities exist within the Corporation's properties or that markets for such minerals can be secured.

CONTACT: Champion Bear Resources Ltd.

Richard Kantor, 403/229-9522