Richmont Mines Reports Record Third Quarter Production

Richmont Mines Inc. (TSX: RIC) (NYSE: RIC) (“Richmont” or the “Corporation”), reports solid third quarter results from the Island Gold Mine with record quarterly production of 26,659 ounces of gold, at low cash costs1 of $666 (US$532) per ounce. For the nine-month period, the Island Gold Mine produced 76,541 ounces of gold at peer-leading cash costs of $637 (US$487) per ounce, positioning this cornerstone asset to beat annual guidance. (All amounts are in Canadian dollars unless otherwise indicated.)

As quoted in the press release:

“The Island Gold Mine has delivered another record quarter of production at peer leading cash costs, which positions the operation to beat annual guidance for the third consecutive year. During the nine-month period this high quality asset continued to outperform the recently released Preliminary Economic Assessment on all key metrics including tonnes mined and milled, grades and unit operating costs, all of which will support a significant free cash flow stream,” commented Renaud Adams, President and CEO. He continued, “During the quarter, we announced a pivotal transaction with Alamos that is consistent with our commitment to create significant shareholder value. Our shareholders will maintain exposure to the ongoing potential of the Island Gold Mine and benefit from having meaningful ownership in a diversified intermediate producer with a proven and experienced management team.”

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