Richmont Files Technical Reports for the Island Gold Mine and the Beaufor Mine

Toronto (ots/PRNewswire) -

Richmont Mines Inc. (TSX: RIC) (NYSE MKT: RIC) ("Richmont" or the
"Corporation"), today announced the filing of technical reports for
the Island Gold and Beaufor Mines with respect to the updated 2015
Reserves and Resources announced on February 9, 2016. The technical
reports support the scientific and technical disclosure in that press
release. The Technical Reports are available at http://www.sedar.com.

About Richmont Mines Inc.

Richmont Mines has produced over 1.5 million ounces of gold from
its operations in Quebec, Ontario and Newfoundland since beginning
production. The Corporation currently produces gold from the Island
Gold Mine in Ontario, and the Beaufor Mine in Quebec. The Corporation
is also advancing development of the significant high-grade resource
extension at depth of the Island Gold Mine in Ontario. With 25 years
of experience in gold production, exploration and development, and
prudent financial management, the Corporation is well-positioned to
cost-effectively build its Canadian reserve base and to successfully
enter its next phase of growth. Richmont routinely posts news and
other important information on its website
(http://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. Except as may be required by law, the Corporation
undertakes no obligation and disclaims any responsibility to publicly
update or revise any forward-looking statements or information,
whether as a result of new information, future events or otherwise.

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.
The forward-looking information contained herein is made as of the
date of this news release.

Cautionary note to US investors concerning resource estimates

Information in these technical reports are intended to comply with
the requirements of the Toronto Stock Exchange and applicable
Canadian securities legislation, which differ in certain respects
with the rules and regulations promulgated under the United States
Securities Exchange Act of 1934, as amended ("Exchange Act"), as
promulgated by the SEC. The Reserve and Resource estimates in these
technical reports were prepared in accordance with Regulation 43-101
adopted by the Canadian Securities Administrators. The requirements
of Regulation 43-101 differ significantly from the requirements of
the United States Securities and Exchange Commission (the "SEC").

U.S. Investors are urged to consider the disclosure in our annual
report on Form 20-F, File No. 001-14598, as filed with the SEC under
the Exchange Act, which may be obtained from us (without cost) or
from the SEC's web site: http://sec.gov/edgar.shtml.

Regulation 43-101

The geological data in these technical reports has been reviewed
by Mr. Daniel Adam, Geo., Ph.D., Vice-President, Exploration, an
employee of Richmont Mines Inc., and a qualified person as defined by
Regulation 43-101.

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Renaud Adams, President and CEO, Phone: +1-416-368-0291 ext. 101;
Anne Day, Vice-President, Investor Relations, Phone: +1-416-368-0291
ext. 105; Richmont Mines Inc., Ticker symbol: RIC, Listings: TSX -
NYSE MKT; Web Site: http://www.richmont-mines.com

ots Originaltext: Richmont Mines
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