In the center of Winter's Breath Lake in northern Howling Fjord, you will find a maiden encased in ice. She is the guardian of an ancient sword and waits there for the blade's new bearer to free her.
South of here, overlooking the exit to the Crystal Vice, you will find Lord Everblaze. Kill him, take his everburning ember, and use it to set the maiden free. Prove your worth and earn the weapon that she has guarded for so long, <name>.
The blade is as fine as the squire said it would be, but where did he find out about it? No matter; it will serve its new owner well. Perhaps it's only fair that Ironforge's grand champion be the one to wield it.
After completing "The Valiant's Challenge", the following quests open up allowing players to repeat the valiant stage of daily quests (steps six and seven) for the other factions with which they have not yet earned the right to champion: