Audrey Resources Inc. and the board of directors recommends acceptance of the offer by Cambior Inc.

MONTREAL--(BUSINESS WIRE)--Sept. 8, 1995-- The Board of directors of Audrey Resources Inc. (the "Corporation") hereby announces having approved the content and the sending of a circular recommending to the holders of common shares of the Corporation, other than Cambior Inc.

("Cambior") and its affiliates, acceptance of the Offer dated September 1, 1995 by Cambior to acquire all of the issued and outstanding common shares (the "Shares") of the Corporation not already owned by Cambior, in exchange, at the option of the holder, for either (i) a cash payment of $1.40 for each Share or (ii) one common share of Cambior for each tranche of 10.5 Shares deposited pursuant to the Offer.

In making this recommendation, the Board of directors of the Corporation based itself upon a number of factors, including:

1. the Independent Valuation of the Shares made by Coopers & Lybrand/Laliberte Lanctot, dated August 30, 1995, which concludes that, in their opinion, the fair market value, as at June 30, 1995, of the Shares is in the range of $1.15 to $1.32 per Share;

2. the Fairness Opinion of Wood Gundy Inc., dated September 7, 1995, in which they conclude that in their opinion, as at such date, the Offer is fair, from a financial point of view, to the minority shareholders; and

3. the report of the Independent Committee of the Board of directors of the Corporation, dated September 7, 1995, which also concludes that the Offer is fair, from a financial point of view, to the minority shareholders, on the strength of the factors which it deemed relevant in the circumstances, including the fact that the minority shareholders are given the opportunity to receive a cash payment for their Shares or, at their option, to continue to maintain an indirect interest in the Corporation's assets by exchanging their Shares for participating shares of Cambior, thereby also obtaining, in the latter case, an interest in Cambior's more diversified portfolio of mining assets.

The Directors' Circular, which contains a copy of the Fairness Opinion of Wood Gundy Inc. and more details on the recommendation of the Board of directors, will be mailed to the shareholders of the Corporation on September 8, 1995.

The Offer by Cambior is open for acceptance until 11:00 pm (Montreal time) on Monday, September 25, 1995, unless withdrawn or extended.

CONTACT: Robert LaValliere, 514/878-3166