Cambiex announces its 1995 third quarter results.

MONTREAL, QUEBEC--(BUSINESS WIRE)--OCTOBER 19, 1995--CAMBIEX EXPLORATION(ME, TSE:CBX CBX.WT)

Financial results

For the third quarter ended September 30, 1995, the Company incurred a loss of $1,481,600 or $0.06 per share compared to a profit of $5,300 for the same quarter of 1994. Interest income totalled $32,400 and administrative and business development expenses were $117,700 compared to $75,400 and $70,000 respectively. During the quarter, the value of an investment was reduced by $1,396,300 following the sale of Cambiex's interest in the Polo Sur copper project in Chile.

For the first nine months of 1995, Cambiex posted a loss of $1,575,500 or $0.07 per share compared to a loss of $178,900 or $0.02 per share for the same period in 1994. Interest income was $144,700, while administrative and business development expenses amounted to $323,800.

During the third quarter of 1995, investments in exploration totalled $979,500. At September 30, 1995, assets stood at $15,794,500 and cash assets were $977,200. Exploration activities

Exploration activities were pursued on the Dormex property in Quebec, the Annie Laurie, Hamburg and Rye properties in the United States, the Yaou property in French Guiana and the Abancay property in Peru. The results obtained from completed programs and programs in progress have not yet allowed Cambiex to establish any mining potential on these properties. However, on three properties, Dormex, Yaou and Hamburg, promising gold bearing zones were discovered. In order to achieve a better balance of exploration activities, Cambiex decided to orient its efforts towards projects proven to be profitable in the short and medium term. Accordingly, several important properties are under study and Cambiex may make acquisitions or joint venture agreements before the end of the year. In summary, Cambiex is focusing on properties that are in production, development or an advanced stage of exploration. Gold is Cambiex's primary metal of interest, but other products are not excluded: all decisions will be a function of the level of profitability.

Within the framework of its strategy, Cambiex sold its 17.5 percent share in the Polo Sur copper project in Chile to Magma Copper Chile for an amount of US $525,000. Cambiex considers this an appropriate time to realize its share of the value of this asset. The proceeds will mainly be invested in the other gold exploration properties. A 1 percent Net Smelter Return royalty was also retained on production from the property. Cambiex has 17.5 percent of this royalty, while the remaining share goes to Cambior (82.5 percent).

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

CONTACT: Jean Depatie

President and Chief Executive Officer

514/878-3166

Robert LaValliere

Manager, Investor Relations 

514/878-3166 REPEATS: New York 212-575-8822 or 800-221-2462; Boston 617-236-4266 or