Chart 1: Longitudinal Section - Island Gold Mine Deep: C Zone Deep Estimated Inferred Mineral Resource
At the request of Richmont, RPA has carried out a desktop review of the inferred mineral resources of the Deep C Zone of the Island Gold mine. It is RPA's opinion that this first inferred mineral resource is reasonable, adequately estimated using standard industry practices and that it complies with the NI 43-101 regulation.
Richmont is pleased to announce the following management appointments:
Mr. Rosaire Emond, Eng., has been appointed as Project Manager for the Island Gold Deep project. Mr. Emond holds a Mining Engineer degree from the University of Laval in Quebec, and has over 28 years of project management and mine-building experience with various companies including Placer Dome Canada and Agnico-Eagle Mines Limited.
Mr. Daniel Adam, Geo., Ph.D., has been appointed to the position of Vice-President, Exploration for Richmont Mines. Mr. Adam obtained a Ph.D in Geology from the University of Nancy in France. He has more than 20 years of experience in production and geological exploration, which include numerous positions of varying responsibility at Selbaie Mines.
Ms. Jennifer Aitken, MBA, has been appointed to the position of Manager, Investor Relations. Ms. Aitken holds a Bachelor's degree in Industrial Relations from McGill University, and an MBA from Concordia University's John Molson School of Business. Ms. Aitken has more than five years of communication, sales and marketing experience in addition to six years as a sell-side associate research analyst with a leading Canadian Investment Bank.
Additional details about the Island Gold Mine Property
The 84.4 km2 (8,444 hectare) Island Gold Mine property is located 83 km northeast of Wawa, Ontario. Ore from the Island Gold Mine is processed at Richmont's on-site mill, an 850 tonne per day rated CIP facility. Since beginning commercial production in October 2007, Richmont's 100%-owned Island Gold Mine has produced more than 225,000 ounces of gold. Underground operations are accessed via a ramp, and the mine's infrastructure currently reaches a vertical depth of approximately 400 metres.
About Richmont Mines Inc.
Richmont Mines has produced over 1,300,000 ounces of gold from its operations in Quebec, Ontario and Newfoundland since beginning production in 1991. The Corporation currently produces gold from the Island Gold Mine in Ontario and the Beaufor Mine in Quebec. With extensive experience in gold exploration, development and mining, the Corporation is well positioned to cost-effectively build its Canadian reserve base through a combination of organic growth, strategic acquisitions and partnerships. Richmont routinely posts news and other important information on its website (www.richmont-mines.com).
RPA is a group of engineers and geologists who have provided advice to the mining industry for nearly 30 years. RPA provides services to the mining industry at all stages of project development from exploration and resource evaluation through scoping, prefeasibility and feasibility studies, financing, permitting, construction, operation, closure and rehabilitation. RPA's portfolio of customers includes clients in banking (both debt and equity), institutional investors, government, major mining companies, exploration and development firms, law firms, individual investors, and private equity ventures. RPA offices are located in Canada, the United States, and the United Kingdom (www.rpacan.com).
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