Cambior Inc. - Substantial Increase in Mineral Inventory at Metates.

MONTREAL--(BUSINESS WIRE)--Sept. 27, 1995--Cambior is announcing a substantial increase in mineral inventory at the Metates gold project in Mexico. The mineral inventory estimate has increased to over 430 million tonnes at 1.0 g/t of gold equivalent representing 14.1 million ounces of gold equivalent in situ.

Since Cambior began its involvement in this project in 1993, intensive exploration work has taken place and the new estimate is now based on a total diamond drilling of 47,000 meters in 137 holes over a 100 m x 100 m grid pattern. The breakdown of the revised mineral inventory is detailed in the following table:

____________________________________________________________
                         MINERAL INVENTORY
_____________________________________________________________
Mineral Inventory                Grade (g/t) Contained Ounces
                                 ____________________________

430 million tonnes Gold equivalent  1.0        14.1 million
at cut-off of
 0.7 g/t              Gold         0.75        10.5 million
Gold Equivalent      Silver        18.6         260 million
_____________________________________________________________

Strategic Impact

Mr. Louis P. Gignac, President and Chief Executive Officer, stated, "The results of the advanced exploration program have confirmed the immense potential of the project with a mineral inventory of over 14 million ounces of gold equivalent. Due to the refractory nature of the ore, we are pursuing extensive metallurgical testing in order to devise an efficient process to economically recover the precious metals and define the feasibility of the project. We expect to complete a prefeasibility study by the beginning of 1996."

Geology

The Metates project consists of one exploration and four exploitation concessions covering an area of over 47 square kilometers. Since Cambior became involved in early 1993, an extensive exploration program has been completed and two mineralized zones - the Main Zone and the North Zone - have been defined.

The geology of the Metates project area consists of folded sediments intruded by a sill-like igneous body; both of which are unconformably overlain by younger volcanic rocks. Most of the gold and silver mineralization is disseminated or in thin sulfide veinlets consisting of micron-sized gold present within pyrite, sphalerite, galena, and other sulfides, within both the igneous and sedimentary rocks.

Project

The Metates project is located in northwestern Durango state, Mexico, about 160 kilometers northwest of the city of Durango, in the municipality of Santiago Papaswuiro. The property is situated in rugged terrain, at an altitude ranging from 600 to 2,600 meters above sea level, and the development of this project would require important investments in related infrastructures.

Cambior's joint venture agreement with Industrias Luismin, S.A. de C.V. currently provides that Cambior can acquire a 50 percent interest in the Metates project (i) by spending US $9 million and producing a feasibility study by April 1997, or (ii) by spending US $15 million and producing a feasibility study by April 1998. Cambior can increase its interest to 70 percent if it provides the required project financing at Luismin's option.

Cambior has invested a total of US $9.4 million, as of June 30, 1995, on this advanced project and has budgeted a further US $2.2 million for the remainder of 1995. For the second half of 1995, the focus of additional work will be the continued investigation of various metallurgical processes to extract the gold and silver from the refractory ore. Processes under investigation include bio-oxidation, pressure oxidation and roasting of concentrates, and various chemically-based sulfide oxidation recovery methods. The objective is to define a metallurgical process which results in an economical recovery of gold, silver and other metals.

The prefeasibility study is expected to be completed by early 1996 and would be followed by the completion of a full feasibility study within the following year.

Cambior is a major gold producer with operating and exploration activities in North and South America. Cambior's shares and warrants are listed on the Montreal and Toronto stock exchanges and on the American Stock Exchange (AMEX) in the United States under the symbols CBJ and CBJ.WTA.

CONTACT: Cambior

Henry A. Roy, 514/878-1484

Robert LaValliere, 514/878-1282

Victoria Putnam, 514/878-3166