Cambior Inc.: 21% Increase in Mineral Reserves at Niobec.

Business Editors

LONGUEUIL, Quebec--(BUSINESS WIRE)--Oct. 8, 2002

Cambior Inc. (AMEX:CBJ) (TSX:CBJ), co-owner of the Niobec mine located in the Saguenay Region of Quebec, is pleased to announce a 21% increase in the mineral reserves since the beginning of 2002. The increase in the proven and probable mineral reserves is due to additional drilling results and an updated evaluation which took into account lower production costs and a higher mining recovery; this evaluation was supported by a rock mechanics study performed by independent experts. It is important to note that most of the additional reserves are in the proven category and more than 90% of the mineral reserves are located above the 1450-feet level and can be mined using the current underground infrastructure, thereby reducing the development expenditures required for their extraction.

Proven and probable mineral reserves currently total 22 million tonnes at an average grade of 0.67% Nb2O5, compared to 18.2 million tonnes at an average grade of 0.68% Nb2O5 at the end of 2001.

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                                       Mineral Reserves
                         At June 30, 2002       At December 31, 2001
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Niobec Mine 100%      Tonnes   Average grade    Tonnes   Average grade
                       (000)    % Nb2O5          (000)     % Nb2O5
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Proven reserves      14,595        0.64        11,666         0.65
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Probable reserves     7,371        0.71         6,490         0.72
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Total:               21,966        0.67        18,156         0.68
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According to Mr. Louis P. Gignac, President and Chief Executive Officer of Cambior, "Since it began operating 26 years ago, the Niobec mine has had an excellent history of mineral reserve renewal. We are very happy with this significant increase in reserves and its positive impact on the mine life, which is now close to 18 years at the current mining rate. We are very confident that there is a high probability of expanding this deposit at depth".

Qualified Persons

The mineral reserve estimates were evaluated in accordance with definitions and guidelines adopted by the Canadian Institute of Mining, Metallurgy and Petroleum. Qualified persons responsible for the mineral reserve estimates are Denis Villeneuve, Geologist, Martin Lanctot, Mining Engineer, and Steve Thivierge, Engineering Superintendent, both employed by the Niobec Mine.

The Niobec mine is the only producer of ferroniobium in North America and the third largest producer in the world. The Niobec mine is jointly owned by Mazarin Inc. (50%) and Cambior (50%), who is responsible for the worldwide marketing of the ferroniobium. Ferroniobium is added to steel and various alloys to improve mechanical properties and corrosion resistance.

Cambior Inc. is an international gold producer with operations, development projects and exploration activities throughout the Americas. Cambior's shares trade on the Toronto (TSX) and American (AMEX) stock exchanges under the symbol "CBJ". Cambior's warrants, "CBJ.WT" and "CBJ.WT.B", trade on the Toronto Stock Exchange.

This press release contains certain "forward-looking statements", as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such risks and uncertainties are disclosed under the heading "Risk Factors" in Cambior's 2001 Annual Information Form filed with the securities commissions of all provinces in Canada, and with the United States Securities and Exchange Commission, as well as the TSX and the Amex.