SCM

Nord Gold N.V. ("Nord Gold") (formerly Severstal Gold N.V. ("Severstal Gold")),
a subsidiary of OAO Severstal ("Severstal") (LSE:SVST)(RT:CHMF), announced today
that it has terminated its agreement with Sacre-Coeur Minerals, Ltd. ("SCM") to
acquire 100% of the issued and outstanding common shares (the "Common Shares")
of SCM that it does not already own.


As disclosed on September 23, 2010, Severstal Gold purchased 3,900,000 common
shares ("Common Shares") of SCM at an average price of CAD$1.5444 per Common
Share for a total cost of $6,023,160.00 on September 22, 2010. Following this
transaction, Nord Gold and its subsidiaries had ownership and control over
7,751,500 Common Shares, representing approximately 19.67% of the issued and
outstanding Common Shares as at September 24, 2010. The additional acquisition
of Common Shares on September 22, 2010 was effected to increase Severstal's
beneficial ownership position in SCM. Severstal Gold entered into a binding
agreement with SCM to acquire 100% of the issued and outstanding Common Shares
that it did not already own, at a price of CAD$1.60 per Common Share, which
agreement was terminated by Nord Gold in accordance with its terms as of
February 11, 2011.


This press release is issued pursuant to National Instrument 62-103 - The Early
Warning System and Related Take-Over Bid and Insider Reporting Issues, which
requires a report to be filed on SEDAR (www.sedar.com) containing additional
information with respect to the foregoing matters. A copy of this report may be
obtained by contacting Sergey Loktionov, Public Relations, OAO Severstal at +7
495 9810910 ext. 6446.


About Severstal

OAO Severstal is one of the world's leading integrated steel and mining
companies with listings in Russia and on the London Stock Exchange. Incorporated
in 1993, the company focuses on high value added and unique niche products. Its
main steel-making assets are in Russia, the United States and Europe.
Severstal's mining assets in Russia and the USA provide the company with strong
self-sufficiency in coking coal and iron ore in Russia, and good
self-sufficiency in coking coal in the USA. In 2009, Severstal produced 16.7
million tonnes of steel.


Nord Gold (formerly Severstal Gold) includes all of Severstal's gold mining
assets and is an established international, pure-gold producer focused on
emerging markets and currently has eight producing mines, two development
projects, five advanced exploration projects and a broad portfolio of early
exploration projects and licenses located across West Africa in Guinea and
Burkina Faso, Kazakhstan and the Russian Federation.




The addresses of Severstal and Nord Gold are:                               
                                                                            
  OAO Severstal                                                             
  2/3 Klara Tsetkin street, RU-127299                                       
  Moscow, Russia                                                            
  Phone: +7 (495) 926 77 66                                                 
  Fax: +7 (495) 926 77 61                                                   
                                                                            
  Nord Gold N.V.                                                            
  Strawinskylaan 3105 Atrium                                                
  1077 ZX Amsterdam                                                         
  The Netherlands                                                           



Forward Looking Statements

This news release contains statements that may be forward-looking statements
regarding future events or the future financial performance of OAO Severstal.
Forward looking statements are identified by terms such as "expect," "believe,"
"anticipate," "estimate," "intend," "will," "could," "may" or "might", the
negative of such terms, or other similar expressions. OAO Severstal wishes to
caution you that these statements are only predictions and that actual events or
results may differ materially. OAO Severstal does not intend to update these
statements to reflect events and circumstances occurring after the date hereof
or to reflect the occurrence of unanticipated events. Factors that could cause
the actual results to differ materially from those contained in forward-looking
statements of OAO Severstal may include, among others, general economic
conditions in the markets in which OAO Severstal operates, the competitive
environment in, and risks associated with operating in, such markets, market
change in the steel and mining industries, as well as many other risks affecting
OAO Severstal and its operations.

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