Cambiex Acquires an Option on a 50 Percent Interest in the Sultana Copper-Gold Property.

MONTREAL, Quebec--(BUSINESS WIRE)--March 14, 1996--CAMBIEX EXPLORATION (ME, TSE: CBX, CBX.WT) Cambiex Exploration Inc. is pleased to announce that it has entered into an agreement with Cambior Inc. to gradually acquire a 50 percent interest in the Sultana copper- gold property in Idaho. Owned by Cambior since June 1995, the Sultana property covers an area of 600 hectares comprising by 100 mining claims, 24 of which are patented. The property lies about six km west of the town of Mackay, itself located 100 km northwest of Idaho Falls.

A highly oxidized, vertically-dipping skarn zone mineralized with copper and gold occurs within the patented claim block. In the southern part of this zone, previous small-scale mining and drilling (77 vertical holes) have outlined a resource of 16 million tonnes averaging 0.48 percent leachable copper. Gold grades in the 0.5 to 1.0 g Au/t range are indicated from nine assayed drill holes. This represents potential reserves equivalent to 150 million pounds of copper and between 250,000 and 500,000 ounces of gold. This mineral resource lies within only a portion of the skarn zone, which has an average width of 300 meters and has been traced in the past by surface stripping, drilling and underground workings over a distance of 2.0 km. The resource has been identified from surface to a maximum depth of 200 meters and is open in all directions. The deposit could be mined by open pit at a low stripping ratio and the ore could be leached on site. The property lies at the site of the former Empire mine, where 700,000 tonnes grading 3.6 percent Cu, 1.6 g Au/t and 54 g Ag/t were selectively mined over a distance of 1.8 km from 1912 to 1928.

The potential to increase the mineral resource to more than 90 million tonnes is excellent. Surface exploration work, to begin in the second quarter of 1996, will consist of drilling along sections. This work is intended to establish grade and tonnage figures for the deposit. Cambiex has undertaken to finance this work through staged investments of up to US $5 million over a maximum period of 2.5 years in order to acquire up to 50 percent in the property, which will be managed by Cambior out of its Reno office. Should Cambiex decide not to participate further after it has invested US $5 million in the property, its interest will revert to a 30 percent net proceeds royalty.

Only nine short holes were assayed for gold with the following results: -0-

  HOLE #     INTERSECTION           THICKNESS (meters)
               (meters)              & GRADE (g Au/t)

  EX-1          8-18                  9 at 0.55
               29-53                 24 at 1.13

  EX-4         41-56                 15 at 0.58

  EX-6    Scattered intersections           0.3
            (outside of zone)

  EX-7          3-58                 55 at 0.89
             104-113                  9 at 0.48
             210-219                  9 at 1.30

  EX-8          3-12                  9 at 0.58

  EX-9       125-128                  3 at 8.22

  NI-1           1-6                   5 at 0.41
               24-30                   6 at 5.79

  NI-2          3-14                  11 at 0.41

  NI-3          8-29                  23 at 1.68

This agreement is subject to regulatory approval, and portions of the transaction are subject to shareholder approval.

In addition to the above, it should be noted that Guylaine Saucier has resigned from the Board of Directors and has been replaced by Jean Depatie, President of Cambiex.

Cambiex is an exploration company with interests in several properties in North and South America. Cambiex securities trade on the Montreal and Toronto stock exchanges under the symbol CBX.

CONTACT: Cambiex Exploration Inc.

Jean Depatie, [phone]

or

Cambiex Exploration Inc.

Victoria Putnam, [phone]