Cambiex Announces its Second Quarter Results.

MONTREAL--(BUSINESS WIRE)--Aug. 14, 1997--CAMBIEX (ME, TSE: CBX; ME, TSE: CBX.WT) -- Cambiex Exploration Inc. incurred a loss of $93,700 for the period ended June 30, 1997, compared to a loss of $116,100 for the same period in 1996.

For the second quarter of 1997, interest income amounted to $40,400 and corporate administrative expenses were $134,000 compared to $16,600 and $132,700 respectively for the corresponding quarter in 1996.

For the second quarter of 1997, investments in exploration projects amounted to $772,000. The Company's assets total $17,493,400 including $11,506,400 for exploration projects. At June 30, 1997, cash and short-term investments amounted to $3,724,000.

SULTANA COPPER-GOLD PROPERTY - IDAHO

Early in 1997, Cambiex announced a geological resource of 15 million tonnes at 0.42 percent copper and an additional resource of 8 million tonnes at 0.45 percent copper and 0.5 g Au/t. The drilling program is now completed and we are presently compiling the results in an effort to evaluate the mineral inventory on the project. Results will be announced shortly.

Cambiex has the option to acquire an interest of up to 50 percent in the copper-gold bearing Sultana property by funding US $5 million in expenditures over a period of 30 months. Cambiex earned, during the second quarter, a 30 percent interest in the project by reaching the US $2 million expenditure level. The remainder of the property is owned by the project's operator, Cambior Inc.

JARWATUNA GOLD PROPERTY - PERU 

During the second quarter Cambiex signed an agreement with the Peruvian company Sociedad Minera de Responsabilidad Limitada Jarwatuna to acquire 100 percent of its gold property, situated in the Arequipa region of Southern Peru, close to the Pacific Ocean. Over a period of 36 months, Cambiex must make progressive payments totalling US $200,000 of which US $30,000 must be paid in the first year. A royalty of 1.5 percent of net smelter returns (NSR), following the start up of commercial production, is included in the agreement but may be repurchased for US $500,000 at Cambiex's discretion. This agreement is subject to regulatory approval.

The Jarwatuna property shows a strong quartz-sericite alteration zone with 2 percent disseminated pyrite. This zone, more than four kilometers long and half a kilometer wide, is associated with a dioritic intrusion in metamorphosed sedimentary rock. The interior of the altered zone is occupied by an important network of quartz veins and veinlets distributed in the form of a stockwork. The main veins were already mined for their gold content before the arrival of the Spaniards. Small tunnels are still visible today where the grades of the mined ore were very high: from 5 to 115 g Au/t over thicknesses varying between 0.20 and 0.60 metres. Low copper grades accompany the gold mineralization.

The most recent reconnaissance surveys on the property were performed in 1993 and 1996 when 149 channels and 60 sediment samples were collected. The results returned interesting gold values including 0.13 g Au/t over 40 metres and 0.6 g Au/t over another 40 metres. Given the high degree of leaching of the outcrops, these values are considered very significant. There were also other excellent gold values such as 3.3 g Au/t over 5 metres and 4.6 g Au/t over 3 metres. The copper values range from 360 to 5,100 ppm. The geologic structure seems to indicate an orebody of potentially economic grade, mineable by open pit. The initial exploration costs are expected to be modest.

YAOU AND DORLIN GOLD PROPERTIES - FRENCH GUIANA 

Cambiex, Cambior Inc. (Cambior), Guyanor Ressources S.A. (Guyanor) and Golden Star Resources Ltd. (Golden Star) announced on July 25, 1997, measured and indicated gold resources at the Yaou and Dorlin projects in French Guiana of 19.7 million tonnes grading 1.8 g Au/t representing 1.15 million ounces of gold in situ, including 11.2 million tonnes grading 2.2 g Au/t at Yaou and 8.5 million tonnes grading 1.3 g Au/t at Dorlin. The measured and indicated resources are part of a larger, estimated mineralized inventory, or geologic resource, at both projects of approximately 35 million tonnes grading 1.6 g Au/t, including 18.2 million tonnes grading 2.0 g Au/t at Yaou and 16.8 million tonnes grading 1.2 g Au/t at Dorlin.

Cambior is currently funding exploration under an agreement which allows Cambior to earn a 50 percent interest in each property by spending a total of US$11 million. Under a separate agreement, Cambiex has a right to earn 30 percent of Cambior's interest in Yaou and Dorlin.

The current estimates for Yaou are based on results from 181 diamond drill holes, totaling 30,869 meters, 14,849 meters of auger drilling and approximately 13 kilometers of trenching. The current estimates for Dorlin are based on results from 72 diamond drill holes, totaling 9,639 meters, 1,485 meters of augering and approximately 1,000 meters of trenching. The measured and indicated resource estimations were completed using the inverse distance squared technique, five meter benches and a 45 degree pit slope, hard rock and soft rock mining and processing costs based upon experience elsewhere in the Guiana Shield, 90 percent gold recoveries and a US $400 gold price. The estimations were also determined using a gold price of US $350 per ounce, resulting in an approximately 12 percent decline in measured and indicated resources at Yaou and an approximately 20 percent decline in measured and indicated resources at Dorlin.

At Yaou Central 3,000 meters of infill drilling is planned to better define and extend the known deposits. Augering and trenching are planned to better define the near surface potential of the known deposits as exploration continues on the three other known anomalous areas on the Yaou property with a focus on the Tomantoni target 5 kilometers north of Yaou Central.

At Dorlin, approximately 10,000 meters of core drilling is planned and will include both infill drilling to better define known ore zones and stepout drilling to expand them laterally. Trenching and augering is also planned to continue evaluation of the near surface potential of the Nivre area as well as on the Jadfar and Dartagnan intrusive targets to the north and west of the Nivre system.

We hope to be in a position by the end of the year with a combined measured and indicated resource base for both projects that justifies initiating prefeasibility studies with an objective of moving into final feasibility in 1998. The recent announcement by local authorities regarding the construction of a road through the interior of French Guiana beginning in 1998 is particularly important for Yaou and Dorlin. The proposed route from Cayenne to Saul and west to Maripasoula will bring the road in close proximity to both projects, thereby significantly reducing the infrastructure costs that would be associated with the projects.

Cambiex is an exploration company with interests in properties in French Guiana, Latin America, the United States (Nevada and Idaho) and Canada. Cambiex common shares (CBX) trade on the Montreal and Toronto stock exchanges.

CONTACT: Exploration Cambiex Inc.

Pierre D. Chenard, 514/878-3166

514/878-3324 (fax)

or

Exploration Cambiex Inc.

Victoria Putnam, 514/878-3166

514/878-0635 (fax)