LionOre Mining International Ltd.
TSX : LIM
ASX : LIM
LSE : LOR
BOTSWANA : LIONORE

LionOre Mining International Ltd.

May 03, 2007 17:00 ET

LionOre Mining International Ltd.: Initial Response Norilsk Offer

TORONTO, ONTARIO--(CCNMatthews - May 3, 2007) - LionOre Mining International Ltd. (TSX:LIM)(ASX:LIM)(LSE:LOR)(BSE:LIONORE) ("LionOre") has reviewed the press release issued today by OJSC MMC Norilsk Nickel ("Norilsk Nickel") announcing that Norilsk Nickel intends to make an unsolicited offer to purchase all of the outstanding common shares of LionOre at a price of Cdn$21.50 in cash per common share.

The LionOre Board of Directors will review the formal offer from Norilsk Nickel when it is made and will provide LionOre shareholders with a statement as soon as it has completed its analysis of the offer in light of the Support Agreement dated March 25, 2007 between LionOre and Xstrata.

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