As previously disclosed in Cambior's October 6, 2004, final prospectus and its third quarter results press release dated October 21, 2004, Cambior was advised, in the course of conducting its final due diligence, that a judgment had been awarded against CMPSA
on the Pataz claims which comprised a significant portion of current production and mineral reserves of the Poderosa property.
As of June 30, 2004, CMPSA had outstanding bank and creditors' debts of $34.
Cambior looks forward to working with its Peruvian partners to enhance the financial performance of CMPSA, and investing in further exploration and development to delineate additional mineral resources and reserves and expand production over time.
As at June 30, 2004, CMPSA reported proven and probable reserves, estimated at a gold price of $ 350 per ounce, of 563,000 tonnes at a grade of 18.