Sacre-Coeur Minerals, Ltd.  Update Regarding Acquisition

SACRE-COEUR MINERALS, LTD. ('Sacre-Coeur?) is pleased to provide
an update regarding the progress toward consummating the proposed
acquisition of Sacre-Coeur by SEVERSTAL GOLD N.V. (the
'Purchaser?) and SEVERSTAL GOLD LLC ('Severstal Gold?),
affiliates of OAO Severstal (LSE: SVST; RT: CHMF), in accordance with
the binding agreement among the parties dated September 21, 2010 as
referred to in their joint press release of September 22, 2010 (the
'Transaction?). Due diligence is still proceeding, together with the
preparation of the required documentation and other steps preparatory to
closing the Transaction, which is subject to the successful completion
of due diligence, court approval, securityholder approval and
satisfaction of customary closing conditions.

The Purchaser has represented that the cash consideration payable to
securityholders of Sacre-Coeur is in place and accordingly, there is no
financing condition to the closing of the Transaction. The Board of
Directors of Sacre-Coeur has approved the Transaction. Union Securities
Ltd. has furnished a fairness opinion in connection with the
Transaction. A further update will be provided at such time as new dates
for the special meeting of the securityholders of Sacre-Coeur and
closing have been set.

About Sacre-Coeur

Sacre-Coeur is engaged in the acquisition, exploration and development
of properties for the potential mining of gold, metals and diamonds in
South America, initially focusing on exploration for gold on its
properties in Guyana. Sacre-Coeur presently has an interest in
approximately 1000 sq. km of mineral properties in Guyana, including the
Million Mountain Property. Sacre-Coeur has offices in Vancouver, Canada
and Georgetown, Guyana. More information about Sacre-Coeur is available
at (www.scminerals.com).

Forward Looking Statements

Certain statements herein constitute forward-looking statements or
forward-looking information within the meaning of applicable securities
legislation, including the statements or information about the
Transaction. Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual results,
performance or achievements of Sacre-Coeur to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements or information.

With respect to forward-looking statements and information contained
herein, we have made numerous assumptions including among other things,
assumptions of our ability to close the Transaction. Although our
management believes that the assumptions made and the expectations
represented by such statements or information are reasonable, there can
be no assurance that a forward-looking statement or information herein
will prove to be accurate.Forward-looking statements and
information by their nature are based on assumptions and involve known
and unknown risks, uncertainties and other factors which may cause our
actual results, performance or achievements, or industry results, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements or
information.Such risks and uncertainties include risks and
uncertainties involved in satisfying the conditions to close the
Transaction.

There can be no assurance that forward-looking statements or
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such statements.Accordingly, readers should not place undue reliance on
forward-looking statements or information.All forward-looking
statements and information made herein, are qualified by this cautionary
statement.

Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.

Sacre-Coeur

Gregory B. Sparks, 604-899-0100

Fax:
604-899-0200

President & CEO

greg@scminerals.com

or

Scott
Young, 604-899-0100

Cellular: 705-888-2756

Fax: 604-899-0200

Corporate
Communications

scott@scminerals.com

or

Irwin
Olian, 604-899-0100

Fax: 604-899-0200

Chairman

tigertail@scminerals.com