Richmont Mines' Exploration Drilling Continues to Intersect Significant Gold Mineralization at Island Gold Both Laterally and at Depth and Intersects 9.71 g/t Over 8.00 Metres at the Kremzar Mine Regional Target - Seite 2

(http://files.newswire.ca/1459/Figure_2_Eng.pdf) )

Exploration drilling in 2015 discovered that the favourable Island
Gold mineralized structure extends to the east of the main deposit
area above the 1,000 metre level. The current drilling program
successfully demonstrates the potential to increase the resource
inventory to the east, as well as the potential for vertical
extensions of the previously defined resource blocks in the Extension
1 and Extension 2 areas of the mine. The focus remains on further
identifying the potential to extend the Phase 1 mine life in this
area to the east, along strike of the main deposit and above the
1,000 metre level.

The planned 56,000 metre lateral exploration program is expected
to be completed in the second quarter, with approximately 46,800
metres completed to date. Drilling is being conducted from surface
(9,500 metres) from the exploration drifts on the 450 and 620 metre
levels (36,000 metres), from the 190 metre level (5,500 metres) and
from the 340 metre level (5,000 metres). The program is expected to
be completed in the second quarter.

Highlights include (all results are reported with estimated true
width and high grade capped at 95 g/t gold):

- Hole 620-536-32: 11.14 g/t gold over 2.15 metres
- Hole 620-536-32: 11.14 g/t gold over 2.15 metres
- Hole 620-550-16: 6.22 g/t over 2.28 metres
- Hole 620-550-17: 6.35 g/t gold over 3.29 metres
- Hole 340-580-11: 8.07 g/t gold over 2.07 metres (parallel zone)
- Hole 340-580-11: 15.27 g/t gold over 1.64 metres
- Hole 340-588-01: 17.60 g/t gold over 1.79 metres (parallel zone)
- Hole 340-588-01: 9.99 g/t gold over 6.65 metres
- Hole 340-588-02: 8.37 g/t gold over 1.85 metres (parallel zone)
- Hole 340-588-03: 5.16 g/t gold over 6.93 metres (parallel zone)
- Hole 340-588-03: 11.36 g/t gold over 1.26 metres (parallel zone)
- Hole GD-590-02: 33.32 g/t gold over 2.60 metres
- Hole GD-630-01: 12.84 g/t gold over 0.98 metres

Due to the significantly favourable results from this recent
drilling to the east, better access for drilling, and its proximity
to the existing mining operations, drilling to test the potential
extension to the west of the known Island Gold deposit will be
deferred until a subsequent program.

Deep Directional Drilling (Figure 3
(http://files.newswire.ca/1459/Figure_3_Eng.pdf) )

The deep directional drilling program was designed to test the
down plunge extension of the deposit between the 860 and 1,500 metre
levels and to follow-up on a single deep hole from surface that
intersected 19.87 g/t gold over 3.93 metres at a depth of 1,200