OREANDA-NEWS. On June 15 2007 OJSC MMC Norilsk Nickel ("Norilsk Nickel" or the "Company") announced that Norilsk Nickel's proposed acquisition of control of LionOre Mining International Ltd. ("LionOre") (Toronto Stock Exchange symbol: "LIM"; London Stock Exchange symbol: "LOR"; Botswana Stock Exchange symbol: "LIONORE"), which was notified in Norway on May 21, 2007, has been approved under the Norwegian Competition Act of 5 March 2004 (the "Act"). The period for review of the offer by the Norwegian Competition Authority has expired on June 12, 2007, without an order from the Authority to submit further information and accordingly, the offer is deemed to be approved and is not subject to further review under the Act, reported the press-centre of  MMC Norilsk Nickel.

Norilsk Nickel continues to work closely with other applicable regulatory authorities in connection with their review of the pending acquisition. Today, Norilsk Nickel announced the extension of the expiration time for its all-cash offer to acquire all of the issued and outstanding shares of LionOre for Cdn$27,50 per share from Monday, June 18, 2007 to 8:00pm (Toronto time) on Thursday, June 28, 2007. Norilsk Nickel expects to mail a formal notice of extension to all LionOre shareholders on or about June 16, 2007.

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 website at www.sedar.com under LionOre's company profile, and on the Company's website at www.nornik.ru/en.