Champion Bear Announces Updated Property Presentations and Election of Directors at Annual General Meeting

Champion Bear is also pleased to announce that at the Company’s Annual General Meeting held on November 19, 2012 in Calgary, Alberta Richard Kantor, President of Champion Bear; David Haig, Q.C.; Mark Stachiw MBA; and Rob Foy P.Geo. were re-elected as directors of the Company.

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.

This news release contains forward-looking statements concerning plans to focus exploration efforts and maximize the value of Eagle Rock and Plomp Farm. 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.

No regulatory authority has approved or disapproved the information contained in this news release.

Neither the 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.

Contact:

Champion Bear Resources Ltd.

Richard D. Kantor

Chairman and President

(403) 229-9522

(403) 229-9518 (FAX)

championbear.com