Paulson & Co. Inc.

    TORONTO, June 5 /CNW/ - Paulson & Co. Inc. ("Paulson") announces that as
of June 4, 2007 it held on behalf of onshore and offshore investment funds and
separately managed accounts which as investment advisor it manages and
furnishes investment advice (collectively, the "Funds"), 12,550,000 common
shares of Lionore Mining International Ltd. ("Lionore", TSX:LIM), constituting
approximately 5.66% of the outstanding 221,759,895 common shares. Since April
5, 2007, Paulson acquired, on behalf of the Funds, 9,597,800 common shares of
Lionore. All purchases of Lionore common shares were made through open market
purchases on the Toronto Stock Exchange commencing April 3, 2007. Paulson is
not acting jointly or in concert with any person in connection with Lionore.
    Paulson acquired all of its Lionore shares for investment purposes and
may, or may not, increase or decrease, its ownership of shares of Lionore in
the future, depending on market conditions.

For further information:

For further information: Stuart Merzer of Paulson & Co. Inc. at (212)
956-2221 or e-mail

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