OREANDA-NEWS. June 5, 2007. OJSC MMC Norilsk Nickel (“Norilsk Nickel” or the “Company”) today announced that it has received notice that Norilsk Nickel’s proposed acquisition of control of LionOre Mining International Ltd. (“LionOre”) (Toronto Stock Exchange and Australian Securities Exchange symbol:  “LIM”; London Stock Exchange symbol:  “LOR”; Botswana Stock Exchange symbol: “LIONORE”) has been approved by the Australian Federal Treasurer under the Foreign Acquisitions and Takeovers Act 1975 (the “Act”). The Federal Treasurer as the body responsible for the foreign investment review in Australia concluded that Norilsk Nickel’s all-cash offer to the shareholders of LionOre was not contrary to the national interest and, therefore, Norilsk Nickel’s offer is not subject to further review under the Act.

On May 23, 2007, Norilsk Nickel announced its increased all-cash offer to acquire all of the outstanding common shares of LionOre for aggregate cash consideration of approximately Cdn$6.8 billion.  The offer is open for acceptances until 8:00 p.m. (Toronto time) on Monday, June 18, 2007, unless extended or withdrawn.

Full particulars of the offer are set out in the offer and offering circular filed by Norilsk Nickel.  These documents are available on the Canadian Securities Administrator’s web site at www.sedar.com under LionOre’s company profile, and on the Company’s web site at www.nornik.ru/en.