GMR

Richmont Mines Inc. (TSX:RIC)(NYSE Amex:RIC), ("Richmont" or the "Company") is
pleased to announce that it has entered into an option agreement (the
"Agreement") with Globex Mining Enterprises Inc.
(TSX:GMX)(FRANKFURT:G1M)(OTCQX:GLBXF), ("Globex") to acquire a 100% interest in
5 claims (the "Property") adjacent to Richmont's Wasamac property. All dollar
figures are in Canadian dollars unless otherwise noted.


Martin Rivard, President and CEO of Richmont Mines commented: "We are pleased to
announce an option agreement with Globex, to explore the eastern extension of
our Wasamac property which contains resources in excess of 1,000,000 ounces of
gold. Our 35,000 metre drilling program on Wasamac in 2011 is progressing well,
and our objective with the addition of this new land package is to begin
exploration work this summer to evaluate the potential of gold mineralization on
the eastern extension of the Wasa Shear Zone over a 1.3 km strike length on the
newly optioned ground."




--------------------------------------------------------------------------
                                  TABLE 1                                 
                      SUMMARY OF THE OPTION AGREEMENT                     
--------------------------------------------------------------------------
                                 Cash       Work Commitment               
Date               (in CAN$ millions)    (in CAN$ millions)     RIC Shares
--------------------------------------------------------------------------
May 2011                         $0.5               $1.0(1)               
--------------------------------------------------------------------------
November 2012                    $0.5               $1.0(1)               
--------------------------------------------------------------------------
May 2014                         $2.0               $1.0(2)        500,000
--------------------------------------------------------------------------
TOTAL                            $3.0                  $3.0        500,000
--------------------------------------------------------------------------
                                                                          
1.  Must be completed over a period of 18 months.                         
2.  Must be completed over a period of 12 months.                         



Under the terms of the Agreement, detailed in Table 1 above, Richmont paid
Globex $500,000 in cash upon signing of the Agreement. To maintain the option,
the Company will pay Globex an additional $500,000 in cash 18 months following
the signing of the Agreement. Richmont must incur $1.0 million in expenditures
on the Property over the next 18 months and incur an additional $1.0 million
(for a cumulative amount of $2.0 million) on or before 36 months following the
signing of the Agreement. To exercise its option to acquire the claims, Richmont
must then pay Globex $2 million in cash and issue 500,000 common shares 36
months after the signing date of the Agreement, after which Globex will transfer
100% of its interest in the Property to Richmont. Richmont will then have to
incur an additional $1.0 million in expenditures on the Property (for a
cumulative amount of $3.0 million) within a 12 month period. The Company can
abandon its right to exercise the option on the 5 claims at any time by
providing Globex with a written notice to this effect 30 days prior to the date
of such cancellation, after which Richmont would have no additionnal obligation
to Globex.


In the event that Richmont exercises the option, a 3% Gross Metal Royalty
("GMR") will be payable to Globex for gold and other metals produced from the
Property. Moreover, in the event that Richmont exercises its option, the Company
will pay Globex an annual advance royalty of $50,000 as of the 48th month
following the date of the signing of the Agreement. This advance royalty will
continue to be paid until the Property attains commercial production, at which
time the total advance royalty amount paid to Globex will be credited against
any applicable GMR royalty payments.


Claim Details

The 5 claims under the Agreement cover a total area of 2.07 km2 (207 hectares),
and are adjacent to the eastern boundary of Richmont's Wasamac property. These
claims are less than 15 km west of Rouyn-Noranda, Quebec, and are approximately
10 km east of the Company's Francoeur Mine. The potential for gold from surface
to the -200 metre elevation on the Wasa Shear Zone was tested by previous
owners, and no significant results were obtained. The objective of Richmont is
to verify the potential presence of mineralized zones similar to those observed
on the Wasamac property at deeper elevations.


Link to Chart 1: Geographic location of optioned claims package:
http://media3.marketwire.com/docs/Richmont_ENG_0509.pdf 


About Richmont Mines Inc.

Richmont Mines has produced over 1,200,000 ounces of gold from its operations in
Quebec, Ontario and Newfoundland since beginning production in 1991. The Company
currently produces gold from its Island Gold and Beaufor mines, and is advancing
its Francoeur Mine to production, which will increase Richmont's production to
100,000 ounces of gold on an annual basis. With extensive experience in gold
exploration, development and mining, the Company is well positioned to
cost-effectively build its North American 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).


Forward-Looking Statements

This news release contains forward-looking statements that include risks and
uncertainties. When used in this news release, the words "estimate", "project",
"anticipate", "expect", "intend", "believe", "hope", "may" and similar
expressions, as well as "will", "shall" and other indications of future tense,
are intended to identify forward-looking statements. The forward-looking
statements are based on current expectations and apply only as of the date on
which they were made.


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 revenue and
production costs. Other factors such as uncertainties regarding government
regulations could also affect the results. Other risks may be set out in
Richmont Mines' Annual Information Form, Annual Reports and periodic reports.

(TSXV:GMR)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024

(TSXV:GMR)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024