Richmont Mines Inc./ RIC (TOR, NYSE)

1. offizieller Beitrag

    GM-Produzent in Nord-Amerika
    =========================


    WKN 873 817 ISIN CA76547T1066 RIC


    (notiert an AMEX und Börse Toronto, beide: RIC)


    War vor einiger Zeit mit dem Moped in die Mine gefahren.


    Fahr immer noch Moped ( 5,25 Can$ heute 03.12.04)


    Aber was nicht ist, kann ja noch werden.


    habe unten die 2 Monate alte SIEGEL INVESTMENTS.de


    Bewertung eingestellt.


    gogh


    December 03, 2004


    Richmont Mines Exercises Its Option To Acquire 55% Of The Island Gold Project


    MONTREAL--(BUSINESS WIRE)--Dec. 3, 2004--Richmont Mines Inc. (Richmont Mines) (AMEX:RIC) (TSX:RIC) and Patricia Mining Corp. (Patricia Mining) (TSX-V:PAT) are pleased to announce that Richmont Mines has exercised its option to acquire
    a 55% interest
    ============
    in the Island Gold project, located near Dubreuilville, Ontario. Patricia Mining will retain its role as project manager during a transition period, and
    Richmont Mines will become project operator as of January 1, 2005.



    Context


    In September 2003, Richmont Mines and Patricia Mining entered into an option agreement giving Richmont Mines the right to acquire a majority interest in the Island Gold project by investing up to $10 million to bring the project into production. Richmont Mines made a private placement of $1 million in Patricia Mining, and Patricia Mining committed to complete a $2.5 million exploration program to evaluate the resources in the Island deposit (formerly known as the Island zone). This program was completed in October 2004. In November, Patricia Mining submitted a National Instrument 43-101 (NI 43-101) report to Richmont Mines, which then had 90 days to exercise its option.


    NI 43-101 Technical Reports


    After completing its exploration program in 2004, Patricia Mining retained the services of Roscoe Postle Associates Inc. (RPA) to prepare a NI 43-101 report on the Island deposit using a narrow vein interpretation model of the Island deposit. According to this report, the


    indicated resources are 272,000 tonnes at an average grade of 12.3 g/t Au,
    or 108,000 ounces of gold.


    Furthermore, the
    inferred resources are estimated to be 275,000 tonnes at an average grade of 13.1 g/t, representing 116,000 ounces of gold. These resources were estimated using a cutoff grade of 6 g/t Au and high assays were cut to 75 g/t Au.


    In November 2002, a NI 43-101 technical report prepared by Eric Kallio, P. Geo., estimated that the inferred resources for the project's five zones totaled 2,034,000 tonnes at an average grade of 8.3 g/t Au, or 544,190 ounces of gold. Based on a bulk mining approach and using a cutoff grade of 5 g/t Au, one of these zones, the Island zone, contained inferred resources of 515,000 tonnes at an average grade of 7.35 g/t Au, or 121,906 ounces of gold. RPA has not reviewed this report.


    The results of the narrow vein interpretation and the additional data from the most recent exploration program confirmed over 500,000 tonnes of resources and significantly increased the average grade of the Island deposit.
    The Island deposit is still open at depth and along strike.


    Work in progress


    An additional exploration program comprising 4,500 meters of drilling is currently under way to verify the extension of the Island deposit between the depths of 330 and 430 meters and laterally over 200 meters.



    Richmont Mines is currently mobilizing equipment and personnel to the site to prepare for the next phase of work.


    Outlook


    The infrastructures in place represent a considerable advantage with regard to the development of this property.
    The access ramp extending to a vertical depth of 160 meters, the underground drifts, the modern mill with a capacity of 650 tonnes per day


    and the numerous surface buildings will significantly reduce capital needs and lead times.


    Richmont Mines and Patricia Mining are very encouraged with the results of the underground drilling program and are devoted to maximizing the potential of this project and advancing it into Ontario's next gold mine.


    The main work scheduled to be done on the Island Gold project in the months ahead involves extending the access ramp and additional drilling in the Island and Lochalsh zones with the objective of increasing the indicated and inferred resources and advancing the Island Project towards a production decision.


    National Instrument 43-101


    This news release was reviewed and approved by Luke Evans, M.Sc., P.Eng., and Peter Hubacheck, P.Geo., who have been deemed "qualified persons" as defined by National Instrument 43-301 for the assessment of this project. Jules Riopel, M.Sc., the qualified person for Richmont Mines has also reviewed and approved this press release. This news release was jointly prepared by the management teams of both companies, who are entirely responsible for its content. Toronto Stock Exchange and TSX Venture Exchange officials have not reviewed the information in this document and accept no responsibility for the adequacy or accuracy of this news release.


    Forward-looking statements


    This news release contains forward-looking statements that include risks and uncertainties. The factors that could cause actual results to differ materially from those indicated in such forward-looking statements include changes in the prevailing price of gold, the Canadian-United States exchange rate, grade of ore mined and unforeseen difficulties in mining operations that could affect revenues and production costs. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be detailed in periodic reports from Richmont Mines Inc. and Patricia Mining Corp.


    AUS SIEGEL INVESTMENT.de (kann man zur täglichen Lektüre sehr


    empfehlen, täglich um 10,00 h gibt es einen neuen Beitrag)


    hier aus September 04


    Analyse 29.09.04 Richmont (NA, Kurs 4,85 C$, MKP 86,4 Mio A$) meldet für das Juniquartal einen leichten Anstieg der Goldproduktion auf 24.166 oz, was einer Jahresrate von etwa 100.000 oz entspricht. Die Produktion in der Beaufor Mine erreichte 17.663 oz bei Nettoproduktionskosten von 298 $/oz. Die Produktion im Hammerdown Projekt, das die Produktion im Mai einstellte, fiel auf 6.503 oz bei Nettoproduktionskosten von 250 $/oz. Bei durchschnittlichen Nettoproduktionskosten von 288 $/oz und einem Verkaufspreis von 400 $/oz fiel die Bruttogewinnspanne von 134 auf 112 $/oz zurück. Der operative Gewinn lag bei 1,9 Mio A$, was einem aktuellen KGV von 11,1 entspricht. Auf der Basis einer jährlichen Produktion von 60.000 oz Zahlen erreicht die Lebensdauer der Reserven 4,2 Jahre und die Lebensdauer der Ressourcen 15,2 Jahre. Richmont berichtet über einige Explorationsprojekte, macht aber keine konkreten Angaben über die Höhe der erschlossenen Ressourcen. Richmont hat mittlerweile alle Vorwärtsverkäufe abgebaut und kann von jedem Goldpreisanstieg in vollem Umfang profitieren. Am 30.06.04 erreichte der Cashbestand 30,1 Mio A$ (37,0 Mio A$) bei einer gesamten Kreditbelastung von 10,5 Mio A$ (8,9 Mio A$). Beurteilung: Richmont präsentiert sich als unspektakulärer mittelgroßer nordamerikanischer Goldproduzent. Enttäuschend verläuft die Gewinnentwicklung. Negativ ist auch die Verschlechterung der finanziellen Position. Positiv sind der hohe Cashbestand und die unspektakuläre Arbeit des Managements. Richmont bleibt eine solide Halteempfehlung. Empfehlung: Halten, unter 4,00 C$ kaufen, aktueller Kurs 4,85 C$, Kursziel 8,00 C$. Richmont wird in Deutschland praktisch umsatzlos in Frankfurt und Berlin-Bremen notiert (vgl. Halteempfehlung vom 15.03.04 bei 5,65 C$).

    at gogh


    Sehr schön, wie du uns hier alles ins Netz reinstellst. Richtig nett von dir.
    Ich dachte du siehst dich vor einem Aktienkauf auf der Hompage um, was die so schreiben. Ich hab da noch im Ohr, dass du dir einbildest, ein Gespür dafür zu haben, wie die Äusserungen einzuordnen sind.


    Und jetzt kommst du uns mit Martin Siegel. :----------------------------------- )




    P.S. Schaut euch mal die Entwicklung von Siegels Fond an. Da werdet ihr sehen, dass ihr mehr oder weniger bei dem seid, wo ihr vor fünf Jahren eingestiegen seid.

    zeitgenosse,

    woher der Hass?
    ==============


    SIEGEL ist in meinen Augen ein Kenner.

    Davon gibt es sicher noch ein paar andere;

    außerdem ist er "der" Pionier.


    Die letzten Wochen hatte er jeden Tag eine

    GM analysiert und das Ergebnis veröffentlicht.

    Ich habe kein Problem damit einzuräumen,

    daß ich jede einzelne sorgfältig gelesen habe.

    Da ich hier eine davon die mir gelungen erscheint


    "vervielfältige", sehe ich es als Ehrenpflicht an,

    sorgfältig die Quelle zu nennen.

    Dafür lass ich mich gerne schimpfen.


    gogh


    PS:

    Herr Siegel ist übrigens viel weniger von RIC überzeugt als ich.

    Aber da müßte man schon konzentriert selber lesen......

    THOM CALANDRA'S STOCKWATCH
    Rich mining stocks to get richer
    Signs point to 'crisis' shift to precious metals


    ...
    RIC3.70, +0.03, +0.8% ) has the easiest road to travel, by these computations. With three-year median sales growth down 6 percent and a three-year median profit margin of 28 percent, Richmont need only boost sales by 14.8 percent to satisfy this pricing model.
    "Obviously, should margins go up, the required sales will go down," says Resendes, who uses the model as a starting point, sizing up whether a stock is basically cheap, expensive or somewhere in between . "These (gold) companies looked reasonably priced at half their current levels, but very expensive here in terms of what they must deliver," he says.


    ...


    http://www.marketwatch.com/New…1726CBF6B%7D&siteid=mktw&


    [Blockierte Grafik: http://www.richmont-mines.com/english/images/main.jpg]


    http://www.richmont-mines.com/english/f_english.html


    Investor Presentation


    2006.05.17

    May 17, 2006
    Annual General Meeting
    PDF Format - 1004 Ko

    Reporting on voting results
    PDF Format - 6 Ko

    2006.03.14

    March 2006
    PDAC – Toronto
    Format PowerPoint - 1.97 Mo
    Estimated downloading time: 1 mn (high speed connection)


    http://www.richmont-mines.com/english/f_english.html

    Beaufor Mine


    For 2006, Richmont Mines expects to extract 192,000 tonnes of ore at an average recovered grade of 6.65 g/t Au for a production of 40,000 ounces at the Beaufor Mine. Investments of approximately $557,000 have been allocated for the completion of the ramp to a planned vertical depth of 30 metres, which the Company is currently driving, below the lowest level accessible from the shaft, located 610 metres below the surface. This work will allow for the extension of Zone C, where reserves of 50,000 tonnes at an average grade of 9.4 g/t have already been identified. Richmont Mines plans to begin extraction of this ore starting in the middle of 2006. The potential of Zone B, located farther to the south, will also be confirmed by drilling, as will that of Zone C, which is open at depth.


    East Amphi


    Richmont Mines has set the objective of advancing this deposit in production during the fourth quarter of 2005.


    Island Gold


    The Company plans to prepare a reserve calculation, using the data from drilling that will be available in September 2006. In the third quarter of 2006, Richmont Mines plans to restart the mill located on site, which has a capacity of 650 tonnes per day, and to begin processing ore from development. Subsequently, the Company plans for the milling work to continue with the processing of ore from the Island Gold property so as to achieve production during the second half of the year.


    Valentine Lake


    In 2005, an investment of $393,200 was made to complete 1,745 metres of drilling at the Valentine Lake property, located in Newfoundland. In 2004, Richmont Mines had allocated $1,056,283 to this property and identified inferred resources of approximately 920,000 tonnes of ore at an average grade of 8.51 g/t, or 251,600 ounces of gold, which corresponds to the 70% interest that Richmont Mines could eventually obtain. In 2003, Richmont Mines had invested $33,649.

    Richmont Mines earns $473,951 in Q2 2006
    ===================================


    2006-07-28
    =========




    RICHMONT MINES REPORTS NET EARNINGS OF $473,951 FOR THE SECOND QUARTER 2006


    Richmont Mines Inc. reports net earnings of $473,951, or two cents per share for the three-month period ended June 30, 2006, compared with a net loss of $1,170,297 or seven cents per share for the same period in 2005. The difference of $1,644,248 results primarily from the inclusion of $514,166 as tax revenues and the reduction of stock-based compensation in 2006, compared with a tax expense of $428,213 and a further expense of $769,751 for stock-based compensation charges reported in the second quarter of 2005. Cash flow from operations before net change in non-cash working capital items and payment of asset retirement obligations totalled $914,352 in the second quarter of 2006, compared with $713,438 in 2005.


    For the three-month period ended June 30, 2006, gold sales totalled 13,003 ounces, at an average price of $610 (U.S.) per ounce, compared with gold sales totalling 13,223 ounces, at an average price of $438 (U.S.) during the same period in 2005. Although the average production cash cost per ounce went from $334 (U.S.) in 2005 to $542 (U.S.) in 2006, the 39-per-cent increase on the average sale price made it possible to generate earnings during the second quarter of 2006, compared with the loss reported for 2005.

    2006 OUTLOOK
    During the last few months, the exploration work increased at Beaufor Mine, as new targets were identified with the objective of increasing mineral reserves and resources. During the next few months, approximately 1,500 metres will be drilled in the zone accessible through the ramp at more than 630 metres underground. Based on the data obtained from previous drillings, the grade of the ore located in that zone is higher than average and the zone is accessible for drilling at depth. A high potential exploration zone adjacent to the Beaufor fault will soon be drilled from the surface. Exploration work is also scheduled to take place on adjacent properties, including Courvan.
    As for the East Amphi Mine, a detailed study of zones B North and A3, including a drilling exploration program, will begin in the second half of the year in order to assess the profitability of developing those zones.
    With regards to the Island Gold project, the plant will be brought into production during the third quarter.     At first, the ore from the development will be processed and the ore from the stopes on levels 140 and 190, first used for mining tests at the end of the second quarter, will be milled. The metallurgical results will form part of Technical Report 43-101 to be filed at the end of November 2006 which will also include the calculations for the reserves and resources, based on the drilling data available in [/]September 2006[/B]. The partners in the Island Gold project expect that the advanced exploration project, with resources at an average grade of 11.64 g/t, should be brought into production during the second half of the year. In view of the recent increases in the price of gold to more than US$600 per ounce, the team of geologists will carry out a five million dollar exploration program on various Richmont Mines properties possessing a high potential for discovery, in particular the Francoeur, Wasamac and Fourax properties in Quebec, and the Valentine Lake and Cripple Creek properties in Newfoundland.
    With an experienced and dynamic team, $24,133,276 in working capital as of June 30, 2006, a positive cash flow from operations in the year, and favourable conditions for gold, the Company is well positioned to take advantage of these factors, to successfully complete its projects and to realize various strategic acquisitions.
    Martin Rivard
    President and Chief Executive Officer

    Cadillac Mining Corporation Reports on Project Status


    VANCOUVER, BRITISH COLUMBIA, Aug 2, 2006 (CCNMatthews via COMTEX) -- Cadillac Mining Corporation (CA:CQX) wishes to update shareholders on an extensive drilling program currently in progress on its Cadillac West Project in western Quebec. This initial release is restricted to work conducted on claims held under an option to earn 50% from Richmont Mines Inc.

    Last Update: 3:41 PM ET Sep 7, 2006


    MONTREAL, QUEBEC, Sep 07, 2006 (MARKET WIRE via COMTEX) -- Richmont Mines Inc. (RIC) and Patricia Mining Corp. are pleased to announce start up of the 650 tonnes per day carbon-in-pulp mill at the Island Gold project. The mill will initially begin operations, at a rate of 500 tonnes per day to process a surface stockpile of approximately 30,000 tonnes of mineralized material from underground development and test mining. Technical parameters and metallurgical results as to gold recovery, gold grade reconciliation, milling costs and production rate will be integrated in a NI 43-101 compliant technical report anticipated to be filed at the end of November 2006.
    The underground definition drilling program on the Island Zone is ongoing. The surface exploration program to be included in the NI 43-101 report has been completed. Results of these programs are currently being compiled.
    The Island Gold Joint Venture (Richmont Mines 55% - Patricia Mining 45%) is an advanced underground exploration and development project located 15 km from Dubreuilville (90 km from Wawa) in Northern Ontario.
    Richmont Mines is a gold producer focusing its activities in the Canadian provinces of Ontario, Quebec and Newfoundland. The Company has no long-term debt and has no hedging contracts on gold or currency. The Company has 24.2 million shares outstanding.
    Patricia Mining Corp. is a Canadian exploration and development company about to become Canada's newest gold producer. Patricia's main asset is the Island Gold Project.
    This news release was prepared by the companies' management teams, which assume full responsibility for its content. The TSX Venture Exchange has not reviewed this news release and accepts no responsibility for its veracity or accuracy.

    Last Update: 3:41 PM ET Sep 7, 2006


    MONTREAL, QUEBEC, Sep 07, 2006 (MARKET WIRE via COMTEX) -- Richmont Mines Inc. (RIC) and Patricia Mining Corp. (Patricia Mining) (CA: PAT) are pleased to announce start up of the 650 tonnes per day carbon-in-pulp mill at the Island Gold project. The mill will initially begin operations, at a rate of 500 tonnes per day to process a surface stockpile of approximately 30,000 tonnes of mineralized material from underground development and test mining. Technical parameters and metallurgical results as to gold recovery, gold grade reconciliation, milling costs and production rate will be integrated in a NI 43-101 compliant technical report anticipated to be filed at the end of November 2006.
    The underground definition drilling program on the Island Zone is ongoing. The surface exploration program to be included in the NI 43-101 report has been completed. Results of these programs are currently being compiled.
    The Island Gold Joint Venture (Richmont Mines 55% - Patricia Mining 45%) is an advanced underground exploration and development project located 15 km from Dubreuilville (90 km from Wawa) in Northern Ontario.
    Richmont Mines is a gold producer focusing its activities in the Canadian provinces of Ontario, Quebec and Newfoundland. The Company has no long-term debt and has no hedging contracts on gold or currency. The Company has 24.2 million shares outstanding.
    Patricia Mining Corp. is a Canadian exploration and development company about to become Canada's newest gold producer. Patricia's main asset is the Island Gold Project.
    This news release was prepared by the companies' management teams, which assume full responsibility for its content. The TSX Venture Exchange has not reviewed this news release and accepts no responsibility for its veracity or accuracy.

    Patricia Mining Corp. Announces Drill Results


    TORONTO, ONTARIO, Sep 12, 2006 (CCNMatthews via COMTEX) -- Patricia Mining Corp. (CA:PAT) is pleased to announce the latest assay results from the 2006 underground drilling program at the Island Gold Project near Wawa, Ontario. This project is a joint venture operation with Richmont Mines Inc.


    http://www.marketwatch.com/New…teid=mktw&sid=40154&symb=


    Patricia Mining Corp. Announces Surface Exploration Drill Results


    TORONTO, ONTARIO, Sep 14, 2006 (CCNMatthews via COMTEX) -- Patricia Mining Corp. (CA:PAT: news, chart, profile) is pleased to announce the latest assay results from the 2006 surface drilling program at the Island Gold Joint Venture near Dubreuilville, Ontario. This project is a joint venture operation with Richmont Mines Inc.


    http://www.marketwatch.com/New…teid=mktw&sid=40154&symb=

    Last Update: 9:24 AM ET Oct 26, 2006


    MONTREAL, QUEBEC, Oct 26, 2006 (MARKET WIRE via COMTEX) -- For the three-month period ended on September 30, 2006, Richmont Mines (CA:RIC) (RIC) reported a net loss of $437,952, or $0.02 per share, compared with a net loss of $1,389,743, or $0.07 per share, in 2005. The difference of $951,791 is mainly due to more than a 100% increase of ounces of gold sold, compared with the same quarter in 2005, as well as an increase in the average selling price in 2006. Cash flow from operations totalled $400,086 for the third quarter of 2006, compared with $250,040 in 2005. During the period of three months ended on September 30, 2006, 10,653 ounces of gold were sold at an average price of US$611, compared with an average price of US$438 for 4,931 ounces of gold sold for the same period in 2005.
    For the nine-month period ended on September 30, 2006, Richmont Mines recorded net earnings of $716,446, or $0.03 per share, compared with a net loss of $2,459,493, or $0.14 per share, in 2005. The $3,175,939 difference is mainly due to the recovery of future mining and income taxes of $2,589,537 in 2006. Cash flow from operations generated funds of $2,578,666, compared with the use of funds of $994,198 in 2005. During the nine-month period ended on September 30, 2006, 35,764 ounces of gold were sold at an average price of US$599 per ounce, compared with 30,594 ounces of gold at an average price of US$437 for the same period in 2005.


    ...


    OUTLOOK
    Richmont Mines is currently focusing on the advancement of the Island Gold project in order to bring it into production.
    The Beaufor Mine continues to be operated and many exploration targets will be examined during the upcoming months. At the East Amphi Mine, the B2 Zone continues to be operated and exploration work is planned for the Fourax property, located approximately two kilometers from the mine in the Malartic mining camp. Richmont Mines soon expects to begin work in the Francoeur Mine sector, mainly in the West zone.
    InnovExplo was mandated to evaluate the overall potential of the Valentine Lake property in Newfoundland, and it concluded that the geological nature of the property was sufficient to justify further geological and structural studies and recommended additional exploration work on the property. Up to now, 17 zones of interest have been identified and certain zones will be examined during the fourth quarter of 2006 and further recommendations will follow.
    Richmont Mines, which can count on working capital of $20,191,944 as of September 30, 2006, and having neither long-term debt nor forward sales contract on gold and currency, is in a good position to take advantage of the current favourable market conditions. It intends to complete its current projects, to evaluate potential projects and to proceed with strategic acquisitions to secure the Company's growth.
    Finally, on behalf of our team, we salute the exceptional contribution of the Honorable Gilles Loiselle, who has been a director with our Company for 10 years and who is now leaving his position as Director. We wish him the best of luck in all of his well-deserved retirement projects.
    Martin Rivard, President and Chief Executive Officer

    Last Update: 9:32 AM ET Oct 26, 2006


    Oct 26, 2006 (Dow Jones Commodities News via Comtex) -- DOW JONES NEWSWIRES
    For the three-month period ended on Sept. 30, Richmont Mines Inc. (RIC) reported a net loss of C$437,952 or 2 Canadian cents a share, compared with a net loss of C$1.4 million or 7 Canadian cents a share a year earlier.
    The improved results from the latest quarter are mainly due to more than a 100% increase of ounces of gold sold, compared with the same quarter in 2005, as well as an increase in the average selling price in 2006.
    Cash flow from operations totaled C$400,086 for the third quarter of 2006, compared with C$250,040 in 2005.
    During the latest quarter, 10,653 ounces of gold were sold at an average price of US$611, compared with an average price of US$438 for 4,931 ounces of gold sold for the same period in 2005.
    Richmont Mines, Montreal, is a gold-mining company.

    Last Update: 1:55 PM ET Oct 30, 2006


    ST. JOHN'S, NEWFOUNDLAND AND LABRADOR, Oct 30, 2006 (MARKET WIRE via COMTEX) -- New Island Resources Inc. (CA:NIS: news, chart, profile) (New Island) of St. John's, NL is pleased to announce that it has entered into an agreement with Crew Gold Corporation (CA:CRU: news, chart, profile) (OSE: CRU)(FWB: KNC)(OTCBB: CRUGF)(Crew) for the sale of the Nugget Pond gold processing facilities situated on the Baie Verte Peninsula in Newfoundland. Under the terms of the agreement, Crew has purchased the facilities by issuing three million shares to New Island having a current market value of approximately $6,750,000. Crew's primary interest in these facilities is to process ore from its gold deposits in Greenland. It has, however, agreed to process, at commercial rates, ore mined on the Nugget Pond mineral licences retained by New Island.


    ...


    Prior to closing the sale agreement with Crew, New Island acquired the assets from Richmont Mines Inc. (CA:RIC) (RIC) (Richmont) which it held under an option agreement signed in 2005. In exercising its option, New Island paid the purchase price of $2,500,000 less a $250,000 deposit made at the time of acquiring the option. New Island financed the purchase with the proceeds of a credit facility of US$2,250,000 provided by Auramet Trading LLC (Auramet). This facility provides a bridge loan for six months bearing interest at 10% per annum secured by the 3,000,000 Crew shares and may be prepaid without penalty. A closing fee of 4% of the facility amount and 40,000 Crew shares will be paid to Auramet.

    Last Update: 4:01 PM ET Oct 30, 2006


    MONTREAL, QUEBEC, Oct 30, 2006 (MARKET WIRE via COMTEX) -- Richmont Mines (CA:RIC) (RIC) is pleased to announce it has received from New Island Resources Inc. a final cash consideration of CAN$2,250,000 to complete the sale of the Nugget Pond property and gold mill located on the Baie Verte Peninsula in Newfoundland. This sale results in Richmont Mines being released from all reclamation and other liabilities relating to this property and the $843,659 letter of credit held by the Government of Newfoundland and Labrador to guarantee reclamation will be returned to Richmont Mines in the next few days. In addition of a cash deposit of CAN$250,000 received on the signing of the option in October 2005, Richmont Mines also received 1,000,000 shares of New Island Resources.
    Richmont Mines is a gold producer listed on the Toronto Stock Exchange (TSX) and the American Stock Exchange (AMEX) under the symbol RIC. The Company focuses its activities on the exploration, the development and the operation of underground gold mines in the Canadian provinces of Quebec, Ontario and Newfoundland. Richmont Mines currently owns tow mines in operation, one advanced exploration project and several exploration properties.
    Contacts: Richmont Mines Inc. Julie Normandeau Investor Relations 514-397-1410 514-397-8620 (FAX) http://www.richmont-mines.com
    SOURCE: Richmont Mines Inc.

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