Cambior successfully completes the offer on Audrey Resources Inc.

MONTREAL--(BUSINESS WIRE)--Oct. 11, 1995--Cambior Inc. (AMEX,ME,TSE:CBJ, CBJ.WTA) ("Cambior") announced that an additional 2,151,697 common shares of Audrey Resources Inc. ("Audrey") were tendered by shareholders of Audrey prior to 11:00 p.m. on October 10, 1995, being the expiry time of the extension of the offer made on September 27, 1995 to acquire all of the outstanding common shares of Audrey.

Cambior has taken up those shares and has made the appropriate arrangements for their payment. Including the common shares already tendered prior to the extension, the total of tendered shares amounts to 10,326,069 or approximately 90.9 percent of all the shares not held by Cambior on the date of the launch of the offer, September 1, 1995.

Cambior is pleased that the shareholders of Audrey have chosen to support Cambior's plan for Audrey to become a privately-held, wholly-owned subsidiary of Cambior. Following this offer, Cambior owns approximately 97.7 percent of all the outstanding common shares of Audrey. Cambior intends to acquire, at the same terms and at the same price, all of the outstanding common shares of Audrey not owned by Cambior and not tendered pursuant to the offer and its extension, pursuant to the compulsory acquisition provisions of section 206 of the Canada Business Corporation Act.

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 Inc., Montreal

Henry A. Roy, 514/878-1484

Robert LaValliere, 514/878-1282

Victoria Putnam, 514/878-3166