Cambior Inc.: Announcement.

Business Editors

LONGUEUIL, Quebec--(BUSINESS WIRE)--July 1, 2003

Cambior Inc. announces that it agreed in principle with the Government of Guyana to assume the management of the bauxite operations of Linden Mining Enterprises ("Linmine"), located approximately 100 kilometers south of the capital, Georgetown. Cambior will assume, on a contractual basis, the operations as well as the administration and marketing activities of Linmine commencing on or around August 1st, 2003. Cambior has been performing contract mining services since 2000 at Linmine through the use of surplus equipment from Omai Gold Mines Limited which is owned at 95% by Cambior and 5% by the Government of Guyana. Linmine will reimburse Cambior for all of its costs.

This arrangement will have no financial impact to Cambior or Omai Gold Mines Limited.

Cambior is bringing to Linmine more than twelve years of operating experience in the country, and is assisting the Government of Guyana and its people in their attempt to revitalize the once profitable Guyanese bauxite industry. Cambior is also assisting Linmine in obtaining the necessary funding from development agencies for a reinvestment program in its facilities.

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.B", trade on the TSX.

This press release contains certain "forward-looking statements", including, but not limited to, the statements regarding Cambior's management of the Linmine bauxite operations. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements and there can be no guarantee that forward-looking statements in this press-release will materialize. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements include, among other things, the risks referred in Cambior's 2002 Annual Information Form filed with the Securities Commission of all provinces in Canada, and with the United Stated Securities and Exchange Commission, as well as the Toronto Stock Exchange and the American Stock Exchange.