April 17, 2000…Breakwater Resources Ltd. (TSE-BWR)

Breakwater Resources Ltd. is pleased to announce that it has arranged financing to complete the purchase of Cambior Inc.’s (“Cambior”) 100% interest in the Bouchard-Hébert and Langlois zinc/copper mines for US$48 million (Cdn$70 million).

The financing, established through a syndicate of banks including The Bank of Nova Scotia, Standard Bank London Limited, Société Général (New York), and National Bank of Canada, includes three facilities amounting to US$48.0 million, the purchase price for the two mines. The facilities include:

1) an increase of US$10.0 million to the Company’s US$35.0 million revolving credit facility;

2) an increase of US$24.0 million to the Company’s non-revolving term loan repayable quarterly until March 31, 2004; and

3) a US$15.0 million one-year non-revolving facility repayable one year from the closing of the transaction.

On March 31, 2000 Cambior announced that it had encountered mechanical problems with the SAG mill at the Bouchard-Hébert mine which resulted in a temporary shut down of the mill. The problem and the required corrective action were identified, and work to repair the mill is underway. As a result the closing of the purchase transaction, which was originally anticipated to occur by April 17, 2000, will be delayed.

Breakwater Resources Ltd. is a mineral resource company engaged in the acquisition, exploration, development and mining of base metal and precious metal deposits in the Americas and North Africa. Breakwater has four producing zinc mines: the El Mochito mine in Honduras; the El Toqui mine in Chile; the Nanisivik mine on Baffin Island in Canada; and the Bougrine mine in Tunisia. In 1999, Breakwater’s mines produced 383 million pounds of zinc, 24 million pounds of lead, 2.1 million ounces of silver and 4,900 ounces of gold. Breakwater also owns the Caribou mine in New Brunswick, Canada that is currently on care and maintenance pending higher zinc prices. Once the transaction with Cambior is finalized, the Company will have six operating mines with a combined annual contained metal production of 550 million pounds of zinc, 18 million pounds of copper, 27 million pounds of lead, 30,000 ounces of gold and 2.5 million ounces of silver.

This press release includes certain forward-looking statements. All statements, other than statements of historical fact included herein, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

For further information please contact:

René R. Galipeau

Executive Vice President and Chief Financial Officer

416-363-4798 Ext. 260

Gordon F. Bub

Chairman and Chief Executive Officer

416-363-4798 Ext. 264