Profile: Richmont Mines Inc (RIC.A)

RIC.A on American Stock Exchange

9 Feb 2016
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Richmont Mines Inc. (Richmont), incorporated on February 12, 1981, is principally engaged in activities related to the acquisition, exploration, development and operation of mineral properties. As of December 31, 2014, the Company operated three gold mines (the Beaufor and Monique mines in Quebec and the Island Gold Mine in Ontario) and was engaged in the development of the extension of its Island Gold Mine operations.

Quebec Division

The Company's Beaufor Mine property and the W Zone Mine, along with other adjacent properties, such as Pascalis, Perron, Colombiere, Courvan and Perron Blocks 2 and 3, are located approximately 20 kilometers northeast of the town of Val-d'Or in the Abitibi-East county, in the Province of Quebec. The property, which includes the mineral reserves and resources of the Beaufor and W Zone mines, consists of a range of adjacent mining rights subdivided into four projects: Perron, Beaufor, Pascalis and Colombiere. As of December 31, 2014, the projects consisted of three mining leases, one mining concession and 23 claims covering a total area of 591 hectares. The mineralized zones, including the mineral reserves and mineral resources, underground infrastructure and the waste pad are located on mining concession 280 PTA of the Beaufor property, mining lease 750 of the Pascalis property, and mining leases 858 and 1018 of the Perron property.

The Monique Mine is located 25 kilometers east of Val-d'Or, in the province of Quebec. The Company's property is located approximately 10 kilometers east of the Beaufor Mine and 50 kilometers from the its Camflo Mill. As of December 31, 2014, the Monique property consisted of 17 claims and one mining lease covering a total area of 546.16 hectares. The Company's Monique property covers the northern part of lots 38 to 45 in Range VIII and the southern part of lots 36 to 45 in Range IX of the Louvicourt township.

Ontario Division

The Company's Island Gold Mine is located approximately 83 kilometers northeast of Wawa, Ontario in the Sault Ste. Marie Mining Division. Dubreuilville, Ontario is approximately 10 kilometers northwest of the Island Gold Mine. As of December 31, 2014, the Island Gold property was divided into nine parts and consisted of 216 patented, leased and staked claims totaling 7,696 hectares. The Company's Island Gold property consists of Kremzar, Lochalsh, Goudreau, Goudreau/JMW, Island Gold, Edwards, Ego, Salo and Argonaut.

Company Address

Richmont Mines Inc

161 ave Principale
P: +1819.7972465
F: +1819.7970166

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