*  
       

 Cambior, Inc. ("Cambior") sold its 100 % interest in Cambior de Mexico, S.A. de C.V., Cambior's Mexican holding company, to Glamis Gold Ltd. ("Glamis") in May, 2000 but retained a second operating company Cambior Suaqui Verde S.A. de C.V. and is reviving an interest in some of its old properties as of 1Q03.

Cambior Inc.              [CBJ:TSE]  [CBJ:AMEX]

Santo Nino Property, Chihuahua. A 14,000 ha property in the Sierra Madre of SW Chihuahua.  Work by Cambior on the property in 1998 and 1999 defined a significant rock chip gold anomaly that was subsequently drill tested. The core drilling program consisted of five holes, for a total of 1,525 m, and was completed in November 1999. These holes were spaced 200-400 m apart along a 1.4-kilometre, east-west drill fence in an effort to partially test a large, volcanic-hosted, high-sulfidation epithermal system and the concomitant gold anomaly. The rock chip gold anomaly forms an arcuate band that is 2,500 m in length and approximately 400 m in width. An area characterized by extensive soil cover and scattered exposures of barren volcanic rock lies internal to the arcuate gold anomaly. Prior to Cambior's campaign, the property had never been drilled. Each drill hole cut gold-bearing Tertiary volcanic rocks that are extensively altered to silica-alunite and variable amounts of vuggy silica, with four of the holes intersecting more than 200 m of this alteration. The depth of oxidation approaches 300 m in these four holes. The core was split and one half of the core was sampled at two-m intervals. These samples were sent to Bondar Clegg's facilities in Hermosillo for assay. The best results were obtained from hole 99-03, which cut multiple mineralized intervals:

Hole No.* Angle From To Interval(m) Au(g/t) Ag(g/t)       Comments

99-03            90       0       14     14               2.96       ----             poor degree recovery; oxide

                                112   118     6               6.96       ----             oxide

                                120   122     2               1.26       ----             oxide

                                252   254     2               1.31       ----             oxide

                                292   294     2               14.73    252             mixed oxide/ sulfide

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* Please refer to Table 1 (published in original press release available on Cambior's website)  for a summary of the drilling results for the five holes.

Hole 99-03 is collared outside of the surface gold anomaly and within the area characterized by extensive soil cover. The nearest hole to 99-03 lies 340 m to the east, and this hole is angled to the east, away from 99-03. Cambior holds an option to purchase a 100 % interest in the property and has invested approximately $450,000 to date. The exploration work completed has resulted in the discovery of a large, high-sulfidation epithermal system with the demonstrated capacity to host gold mineralization of significant grade. The mineralized zones intercepted in hole 99-03 are open in all directions. Further exploration work will be planned after results from a soil sampling program and preliminary metallurgical work are received and compiled. 

Press Release11Jan00

WATER UNDER THE BRIDGE: 

Glamis also purchased from Cambior a crusher system originally acquired by Cambior for use at the Cerro San Pedro Project in Mexico. Cambior received cash proceeds of $9.5 million from Glamis of which $7 million is attributed to the shares of Cambior de Mexico and $2.5 million to the crushing plant. Cambior de Mexico's assets include 50 % of Minera San Xavier, S.A. de C.V., which owns the Cerro San Pedro gold and silver project in San Luis Potosi; 100 % of Cambior Metates, S.A. de C.V., which owns a 50 % interest in the Metates gold project ion the State of Durango; and 100 % of Cambior Exploracion, S.A de C.V., which holds interests in a variety of gold exploration projects in Mexico. Proceeds from the sale will be used to reduce Cambior's obligations to its financial creditors.

Press Release 9May00

Latest Press Releases

Cerro San Pedro, SLP a 340 ha advanced Au-Ag property explored by Metallica Resources, Inc.  Environmental Impact Permit received for mine plan in March, 1999. It is a go. Final positive bankable feasibility received Feb. '97 from Kilborn-SNC Lavin of Denver defined possible open-pit mining of 10 MT/yr at stripping ratio of 1.47:1 and annual Au production of 150,000 oz along with 4 million oz Ag. Permits and project financing are expected by year-end with development during 1998 and commercial production targeted for 4Q98. Estimated capital cost of $64.5 M dollars and average eAu cost of $169 over 8-yr mine life. Annual production target at 143,000 oz Au and 3.8 M oz Ag. MBD reports .... at a total of around $23.8 million excluding debt financing Cambior got half of Cerro San Pedro for $20 an oz. (Frank do you mean oz equivalent? Ounces of exactly what -did they get the Ag for free?). Reserve base in mid-1998 is 56M tonnes at 0.57 gpt Au, 21.8 gpt Ag (1.7M equivalent ounces).

LAMR April, 1998
LAMR February, 1998
LAMR December, 1997
MBD December, 1997

Metates Project, Durango covers 47 sq km in 5 concessions and is a 50/50 JV with Luismin. Located in San Juan de Camerones District in Mpio. Santiago Papasquiaro 160 km WNW of Durango City and 100 km E of Culiacan. A 100m grid drilling program in 1993-1995 has defined a mineral inventory of 14.1 million ounces eAu from material grading 0.03 opt. this comes from roughly 434 M tonnes at 0.75 gpt Au and 18.6 gpt Ag based on a 0.7 gpt cutoff (1.01 gpt Au equivalent). Feasibility was initially expected to be completed by 1Q97. Column tests indicated recoveries for both Au and Ag in the range of 60-70% after 50-60% oxidation of the sulfides. Metal prices plummeted and due to continued weakness in the gold market in 1997 project expenditures were curtailed and limited to advancing the metallurgical testing. Testing continued in 1998 to evaluate the potential recovery of Zn during the bio-oxidation. With an improving market Metates would have eventually required the construction and operation of a pilot plant before a final feasibility could have been completed. At December 31, 1998 the economic value of the Metates Project no longer justified the capitalization of its costs and the project was written off by Cambior to the tune of around $14M. it now has fallen 100% back to Luismin.

WWWinfo
Annual Report 1998 Year End Financial
MBD June, 96
MBD May, 96
DREGS 6Nov95
GSN 17May95

La Reyna Project, Sinaloa. Option to earn a 50% interest from Aurizon Mines Ltd. Located 30km SE of Mazatlan near Concordia. Geological resource calculated at 33 M tonnes at 0.5% Cu and 0.42 gpt Au (using 0.25% Cu as cutoff). This includes 40 new holes drilled by Cambior totaling 7,200m.

GCN #195 11 Oct95

Azulita Cu-Au Property, Sinaloa. Located north of La Reyna property. Optioned 4000 ha Azulita I Concession from Canmex Minerals Corporation in March, 1996 on a 75% earn-in.(Old prospector thinks this has passed on to the next guy)

GCN #57 20Mar96

Regional Exploration JV in Northern Mexico with Cameco Corporation in 1995 resulting in Au targets to be tested in 1996. (Camecio is in there on there own now so this relation may have come to an end)

CMH 1996-1997