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 Regi

Toronto (ots/PRNewswire) -

- Deep Drilling Intersects 18.03 g/t over 5.70 metres; Near-Mine
Lateral Drilling Intersects 33.32 g/t over 2.60 metres and 9.99 g/t
over 6.65 metres

Richmont Mines Inc. (TSX - NYSE MKT: RIC) ("Richmont" or the
"Corporation") is providing an update on the previously announced
Island Gold exploration drilling program (Figure 1
(http://files.newswire.ca/1459/Figure_1_Eng.pdf)), which continues to
demonstrate the significant potential of the cornerstone Island Gold
Mine.

The exploration drilling program commenced in September 2015 and
is now focused on three key priorities: 1) Testing the lateral
continuity of the known deposit to potentially extend mine life above
the 1,000 metre level; 2) following up on gold intersections down
plunge that support the potential for an extension of the deposit
between the 1,000 and 1,500 metre levels; and 3) testing
high-priority regional gold targets elsewhere across the prospective
Island Gold property.

"These positive results on the eastern extension along strike,
directly adjacent to the main deposit area, could be incorporated
into our near-term mine plan. We are also pleased to report
significant intersections further east, approximately one kilometer
from the main deposit that we will continue to explore" stated Renaud
Adams, President and CEO. He continued, "The deep directional
drilling program continues to confirm the higher-grade, wider
mineralized zones at depth below the 1,000 metre level. We are very
encouraged that all of the holes successfully intercepted the
mineralized structure and that the average grade and thickness
continue to be consistent at depth."

"We are very pleased with the positive drill intercepts from the
eastern lateral exploration as they continue to indicate that the
mine deposit remains open to the east" stated Daniel Adam,
Vice-President, Exploration. He continued, "The deep directional
drilling program continues to intersect the main structure with the
results to date confirming that the zone is still robust and open in
all directions. Our broader exploration initiative across the
property has given us some very interesting initial results below the
old Kremzar mine, which will support additional drilling in this
area. Our aggressive exploration initiatives are meeting with success
and we are excited by the potential to identify additional resources
along strike, at depth and elsewhere on the larger Island Gold Mine
property."

Highlights from the drilling program to date include:

Lateral Exploration (Figure 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
metres. The objective of the deep drilling program is to test the
deposit at depth and to increase confidence in the vertical extension
of the deposit for significant potential resource growth.

High grade gold values continue to be intersected, including 18.03
g/t gold over 5.70 metres, 14.71 g/t gold over 1.53 metres and 11.72
g/t gold over 4.80 metres, which increase our confidence of the
interpreted high grade zone at depth. To date, approximately 16,000
metres (15 holes) of the planned 23,000 metres (30 holes) of drilling
have been completed, including 3 pilot holes and 12 wedged holes. A
fourth drill was added to support the advancement of the drilling
program that will focus on targets to the west of the first dyke that
marks the limit between the Main Zone and Extension 1 areas. As a
result, a further 5,000 metres of drilling have been added to the
program, which is expected to be completed in the third quarter.

All of the 15 holes completed to date intersected the main
mineralized structure and 60% (9 holes of 15) intersected gold values
greater than 4.0 g/t gold over estimated true widths greater than 4.0
metres. The equal weighted average of these 9 holes, considering
grades and true width, is respectively 12.04 g/t gold over 5.06
metres.

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

- Hole MH2A: 18.03 g/t gold over 5.70 metres
- Hole MH2A-1: 14.71 g/t gold over 1.53 metres
- Hole MH1-5: 11.72 g/t gold over 4.8 metres
- Hole MH3-5: 6.03 g/t gold over 7.07 metres

Regional Surface Exploration (Figure 4
(http://files.newswire.ca/1459/Figure_4_Eng.pdf) )

Drilling completed in the old Kremzar Mine area tested the
extension of the previously mined mineralized zone at depth, with
2,655 metres of drilling (3 holes) completed to date. Results confirm
the extension of the mineralized quartz veins at depth (Main zone and
subsidiary zones) and a significant new gold zone of 9.71 g/t gold
over 8.00 metres (core length) was intersected in hole KZ-16-02 at a
vertical depth of about 600 metres.

Highlights include:

- Hole KZ-16-01: 36.97 g/t gold over 0.80 metres (core length,
subsidiary vein, about 230 metres below the bottom of the ramp)
- Hole KZ-16-01: 27.05 g/t gold over 0.61 metres (core length,
subsidiary vein, about 295 metres below the bottom of the ramp)
- Hole KZ-16-01: 6.49 g/t gold over 1.97 metres (core length,
subsidiary vein, about 325 metres below the bottom of the ramp)
- Hole KZ-16-02: 9.71 g/t gold over 8.00 metres (core length,
subsidiary vein, about 350 metres below the bottom of the ramp),
including 20.76 g/t gold over 3.32 metres (core length)

About Richmont Mines Inc.

Richmont Mines has produced over 1.6 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 this press release is 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 this press release
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 this news release 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.

LATERAL EXPLORATION

(East of Main Zone)

Uncut

Grade Cut Grade Vertical

depth of
True
Intersec
Length From
To Width tion
Hole Number
(metres) (metres) (metres) (metres) (g/t Au) (g/t Au) Zone
(metres)

620-531-33 309 252.41 255.80 2.24 2.17
2.17 C 790
620-536-32 351 264.00 267.50
2.15 11.14 11.14 C 809
620-543-19 150
109.50 112.25 2.41 2.53 2.53 E1E 572

620-543-20 180 152.14 155.00 2.77 4.80 4.80
E1E 630
620-543-21 201 167.28 169.96 2.45
2.48 2.48 E1E 643

NO

SIGNIFIC

ANT
620-543-22 220 - - - VALUE
- -
620-543-23 222 180.13 183.14 2.71
0.70 0.70 E1E 671
620-550-12 174 120.19
123.84 3.45 1.46 1.46 E1E 572
620-550-13
330 202.45 205.50 2.63 2.04 2.04 E1E 690

620-550-14 300 180.00 184.07 3.71 1.60 1.60
E1E 635
620-550-15 375 296.71 300.50 2.36
2.52 2.52 E1E 819
620-550-16 330 272.70
276.00 2.28 6.22 6.22 E1E 778
620-550-17
201 132.71 136.40 3.29 6.35 6.35 E1E 591

620-556-01 315 278.14 281.27 2.15 3.92 3.92
E1E 790
340-580-10 684 580.38 582.63 0.94
0.64 0.64 X 815
340-580-11 534 270.20
271.60 0.78 13.43 13.43 X 528

277.78 281.51 2.07 10.03 8.07 X 535

including 278.38 278.68 0.17 119.42 95.00

338.00 340.94 1.64 15.27 15.27
E1E 579
including 339.30 339.70 0.22
77.25 77.25
340-580-12 225 145.36 150.14 3.89
1.21 1.21 E1E 394
340-588-01 597 277.65
280.85 1.79 17.60 17.60 X 528

298.75 310.50 6.65 9.99 9.99 E1E 546

340-588-02 862 183.00 187.42 1.85 9.78 8.37
X 475
including 183.64 183.94 0.13
115.75 95.00
659.00 663.00 1.66
0.08 0.08 E1E 872
340-588-03 891 174.60
196.05 6.93 8.97 5.16 X 485

including 175.32 175.63 0.10 49.27 49.27

including 195.33 196.05 0.23 208.34 95.00

357.55 361.50 1.26 11.36 11.36 X 640
including 357.55 358.00 0.14 42.58 42.58

340-588-04 283 168.12 175.96 5.57 2.84 2.84
E1E 422
340-588-05 665 380.00 390.00 4.14
0.98 0.98 E1E 623
340-588-06 702 227.80
235.90 2.68 3.87 3.87 X 516

385.10 391.40 2.12 1.38 1.38 E1E 648

340-588-07 378 251.66 261.66 5.34 5.91 4.39
E1E 480
including 257.56 257.86 0.16
145.89 95.00
GD-590-02 909 744.32 748.77 2.60
58.65 33.32 E1E 697
including 746
746.73 0.40 260.77 95.00
GD-620-02 930 783.25
790.84 4.14 1.02 1.02 E1E 720
GD-630-01
1053 823.00 824.70 0.98 12.84 12.84 X 755

including 823.50 823.80 0.17 63.87 63.87

GD-630-03A 984 858.00 865.00 3.46 0.83 0.83
E1E 819

DEEP DRILLING PROGRAM

Uncut

Length From To Grade
Vertical
True
depth of

Width Cut Intersect

(metres Grade ion

Hole Number (metres) (metres) (metres) ) (g/t Au) (g/t Au)
Zone (metres)

MH1-2 1473 1,320.70 1,323.30 1.67
5.05 5.05 C 1,160
1,437.66
1,448.87 7.27 1.22 1.22 E1E 1,260
MH1-5
1517 1,344.20 1,352.89 4.80 11.72 11.72 E1E
1,207
MH2A 1422 1,262.85 1,265.60 2.06 3.35
3.35 X 1,091
1,270.17 1,277.80
5.70 24.70 18.03 E1E 1,098
including
1,272.00 1,273.25 0.78 143.46 95.00
MH2A-1 1363
1,198.34 1,200.24 1.53 14.71 14.71 E1E 945

MH2A-2 1394 1,221.25 1,225.68 3.34 6.07 6.07
E1E 1,000
MH3-3 1504 1,358.74 1,366.26 3.71
2.64 2.64 E1E 1,241
MH3-4 1441 1,277.42
1,282.19 3.65 5.55 5.55 E1E 1,136
MH3-5
1500 1,331.00 1,342.55 7.07 6.03 6.03 E1E
1,223

KREMZAR DRILLING PROGRAM
(REGIONAL)

Uncut
Length From To Grade
Cut Grade Vertical

depth of

Core Intersec

Length
tion
Hole Number (metres) (metres) (metres) (metres)
(g/t Au) (g/t Au) Zone (metres)

KZ-16-01 817
453.50 459.90 6.40 0.49 0.49 MAIN 385

KZ-16-01 551.65 552.45 0.80 36.97 36.97
X 467
KZ-16-01 630.14 630.75 0.61
27.05 27.05 X 534
KZ-16-01 652.60
654.57 1.97 6.49 6.49 X 554
KZ-16-02
918 702.00 710.00 8.00 9.71 9.71 X 591

including 704.5 707.82 3.32 20.76 20.76

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

Visit our Facebook page

ots Originaltext: Richmont Mines
Im Internet recherchierbar: http://www.presseportal.de