Richmont 2010 Gold Sales Increase 14%

Richmont Mines Inc. (AMEX:RIC) releases 2010 gold sales figures, to provide guidance for gold production levels in 2011, and to update its reserve and resource calculations as of December 31, 2010.

The press release is quoted as saying:

2010 gold sales of 68,123 ounces, up 14% year-over-year and 5% above forecasted 65,000 ounces; Q4/2010 gold sales of 18,591 ounces, a 43% increase over Q4/2009 gold sales of 13,029 ounces; 2011 gold production forecast of 80,000 – 85,000 ounces; Total Proven and Probable reserves of 366,944 gold ounces at December 31, 2010 versus 445,471 gold ounces at December 31, 2009; Updated Wasamac property resource calculation including pending results from the 20,000 metre drilling campaign in 2010 expected to be available by mid-February 2011.

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