Island Gold Mine Technical Session Presentation

POSITIONING FOR SUSTAINABLE GROWTH

TSX–NYSE MKT: RIC

ISLAND GOLD TECHNICAL SESSIONOctober 28, 2015

www.richmont-mines.com 2

FORWARD LOOKING STATEMENTS

Safe Harbor Statement & Cautionary Note to U.S. Investors Concerning Resource Estimates

This presentation contains forward-looking statements that include risks and uncertainties. The factors that couldcause actual results to differ materially from those indicated in such forward-looking statements include changes in theprevailing price of gold, the Canadian-U.S. exchange rate, grade of ore mined and unforeseen difficulties in miningoperations that could affect revenue and production costs. Other factors such as uncertainties regarding governmentregulations could also affect the results. Other risks may be detailed from time to time in Richmont Mines Inc.’speriodic reports and annual notice.

The resource estimates in this presentation were prepared in accordance with NI 43-101 adopted by the CanadianSecurities Administrators. The requirements of NI 43-101 differ significantly from the requirements of the United StatesSecurities and Exchange Commission (the “SEC”). In this presentation, we use the terms “Measured”, “Indicated” and“Inferred” Resources. Although these terms are recognized and required to be used in Canada, the SEC does notrecognize them. The SEC permits U.S. mining corporations, in their filings with the SEC, to disclose only those mineraldeposits that constitute “Reserves”. Under United States standards, mineralization may not be classified as a Reserveunless the determination has been made that the mineralization could be economically and legally extracted at the timethe determination is made. United States investors should not assume that all or any portion of a Measured orIndicated Resource will ever be converted into “Reserves”. Furthermore, “Inferred Resources” have a great amount ofuncertainty as to their existence and whether they can be mined economically or legally, and United States investorsshould not assume that “Inferred Resources” exist or can be legally or economically mined, or that they will ever beupgraded to a more certain category.

U.S. Investors are urged to consider the disclosure in our annual report on Form 20-F, File No. 001-14598, which maybe obtained from us or from the SEC’s web site: http://sec.gov/edgar.shtml.

(All amounts are in Canadian dollars, unless otherwise indicated.)

http://sec.gov/edgar.shtml


AGENDA

• 800 TPD Analysis• Maximum Capacity• Material Handling Options• Milling Study

Richmont Overview Renaud Adams

• Vision and Short Term Strategy• Sustainable Business Model• Corporate Overview• Island Gold Overview

Mining & Milling Study

Geology & Exploration Upside

Q&A


MANAGEMENT AND CONSULTANTS

Renaud Adams President & CEO

Anne Day V.P. Investor Relations

Steve Burleton V.P. Business Development

Nicole Veilleux V.P. Finance

Jean Bastien General Manager, Island Gold

Raynald Vincent Chief Geologist, Island Gold

Denis Gourde V.P. Engineering, InnovExplo inc.

Sylvie Poirier Engineering Manager, InnovExplo inc.

Jean Garant Senior Engineer, InnovExplo inc.


RICHMONT OVERVIEW


OUR VISION and STRATEGY

Our vision is to become a leading intermediate gold producer focused on the Americas generating superior per share valuation. We are committed to a Sustainable Business Model and a strategy of long-term growth, and will fully utilize the Corporation’s strong balance sheet, assets, cash flow, capital structure and the extensive experience of the Corporations’ Board of Directors and Management Team to build the next leading Canadian based intermediate gold company.

In the short term, our strategy will focus on becoming a leading junior gold producer by maintaining at all times a superior per share position on operational & financial metrics while maintaining a sustainable and risk adverse approach under a ‘Sustainable Business Model’.

We are guided by our core corporate values to achieve long term value for all of our stakeholders. By cultivating a culture of responsible performance, we are focused on operating in a sustainable manner while holding ourselves accountable to all of our stakeholders.


SUSTAINABLE BUSINESS MODEL


INVESTMENT OVERVIEW

Quality Asset Base in Canada

Growing Production Profile

Decreasing Cost Structure

Growing Cash Flow Streams

Significant Exploration Potential

Strong Balance Sheet

Favourable Canadian Dollar Exposure

Low Shares Outstanding (58M)


CAPITAL STRUCTURE

Capital Structure

Issued & Outstanding Shares 58.0M

Options 1.0M

Fully Diluted 59.0M

Cash(1) C$76.5

Total Debt(1)(2) C$6M

Ticker RIC:TSX–NYSE

Market Capital C$243M

(1) As of Oct. 23 2015(2) Long-term debt is comprised of capital lease obligations

$76.5MCASH

$6MDEBT

Analyst Coverage

CIBC Kevin Chiew

Macquarie Capital Markets Michael Gray

National Bank Financial Adam Melnyk

PI Financial Brian Szeto

TD Securities Daniel Earle

Paradigm Capital Don Blyth

RIC (as of Oct. 23/15)

TSX C$

NYSE MKT US$

Closing price $4.18 $3.19

52-week range $2.15-$4.55 $1.89-$3.68

Market Cap (M’s) $243M $185M

3-month daily trading avg. 83,370 142,964


QUALITY ASSET BASE IN CANADA

Island Gold a High-Grade underground mine

Beaufor Mine – Extending Mine Life

Development of the Q Zone extends mine life

18,200m of exploration drilling (2015)

11,800m of definition drilling (2015)

Growing production profile

Decreasing cost structure

Growing cash flow streams

Upgraded mine and mill expansion plan

Potential to grow resource inventory

Exploration potential laterally and at depth

www.richmont-mines.com 11TSX - NYSE MKT: RIC

ISLAND GOLD MINESignificant Potential for Long-Term Growth

© 2015 by Richmont Mines

Developing a 1+ million ounce, high-grade global gold resource below an operating, permitted and staffed mine in Ontario

• Northern Ontario is a relatively young and underexplored mining district;

• Favourable regional geology that supported small past producers;

• Several larger mines being established in region;

• Significant exploration potential: near-mine and across 77.0 km2 Island Gold property package.


ISLAND GOLD OVERVIEW

High-grade underground mine in Canada

Expansion opportunity to grow production

Growing production and declining cost structure

Potential to expand reserve and resource base

Exploration potential laterally and at depth

Q3 2015 9-monthsSept. 30 2015

Gold Production 15,076 40,837

Underground tpd 669 660

Mill tonnes 66,416 181,785

Mill tpd 722 666

Head grade (g/t) 7.27 7.20

Recoveries (%) 97.1 97.0

Reserves (oz)(1)(2)(3) 183,750

Gold Grade (g/t) 6.39

M&I Resources (oz) 219,050

Gold Grade (g/t) 9.29

(1),(2),(3) See Endnotes at the end of the presentation


Crown pillar

W EGOUDREAULOCHALSH ISLAND EXT1 EXT2

13TSX - NYSE MKT: RIC

Developing deeper resource to create substantial long-term growth.

PRODUCTION TO DATE (ABOVE -400 M)303,000 ozs of gold, avg. 5.7 g/t AuReserves & Resources (at Dec. 31/14)Proven & Probable: 90,000 ozs @ 6.04 g/tMeasured & Indicated: 64,850 ozs @ 6.83 g/tInferred resources: 82,800 ozs @ 6.97 g/t

LOWER EXTENSION (BELOW -400 M)Reserves & Resources (at Dec. 31/14)Proven & Probable: 431,500 t @6.76 g/t Au 93,750 ozsIndicated 438,000 t @ 10.95 g/t Au 154,200 ozsInferred 3,178,000 t @ 9.00 g/t Au 919,950 ozs


2015 Planned Ramp & Drift DevelopmentConceptual Development

2015 Stoping

Mined out

Reserves – Resources 31/12/14

Actual Ramp and Drifts

- 1,000 m

- 500 m

190 Level

2015 Planned Ore Development

2015 INVESTMENT $48.3 M• Fully funded• Sustaining: $19.1 M• Project related: $29.2 M

ISLAND GOLD MINEExtending Mine Life at Depth…


2015 – a year of repositioning : Extensive development work and investment

being completed in 2015 to reposition the mine for significant long-term growth

2015 forecasted gold sales: 45,000 – 50,000 ozs

6 month 2015 results on track: Record quarterly gold sales: 14,997 ounces

Record quarterly milled tonnage: 71,584 tonnes Mill demonstrated that it can efficiently

operate at current capacity limit of 800 tpd H1 2015

Gold production: 25,761 ounces Gold sales: 24,626 ounces Cash cost/oz: CAN$1,120 (US$906) AISC/oz: CAN$1,501 (US$1,214)

Q1 CAN$1,643 (US$1,485)Q2 CAN$1,307 (US$1,063)

TSX - NYSE MKT: RIC © 2015 by Richmont Mines

ISLAND GOLD MINESolid Q2 and 6 Month 2015

www.richmont-mines.com 15 15TSX - NYSE MKT: RIC

Near-term opportunity: lower the mining cost by returning to historical development ratio

Uni

t Min

ing

Cost

% of Development Ore of Total Ore Mined

Long-term planned ratio


0

50

100

150

200

250

0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0%

Long-term planned ratio

Q1 2015

Q2 2015

ISLAND GOLD MINEMining Unit Cost Opportunity

www.richmont-mines.com 16Copyright 2015 by Richmont Mines

All of Island Gold Mine operating costs are in Canadian dollars 2014 average exchange rate CAN $0.9054 = US $1.00

$97

$36

$36

$8

Mining Surface & administrationMilling Royalties

2014 Cash Cost/Tonne (CAN$)Total 2014 cost/tonne = CAN$177

2014 Cash Cost/Tonne (CAN$, in %)

0%

5%

10%

15%

20%

25%

30%

35%

TSX - NYSE MKT: RIC

ISLAND GOLD MINEMine Cost/Tonne Breakdown – FY 2014


MINING AND MILLING STUDIES

www.richmont-mines.com 18TSX - NYSE MKT: RIC Copyright 2015 by Richmont Mines

East

ISLAND GOLD MINE

Preliminary Economic AssessmentBased on the portion of the resources located between 450L and 860L


Ontario Quebec

• Mining - Phase 1 PEA:

Mining of indicated and inferred resources from 450L to 860L considered for the PEA;

Resources above 450L, isolated resource block and parallel zones outside the main area of the studywere excluded;

Over 2M tonnes of mineralized material considered part of Phase 1;

Considers long-hole mining method over 3 mining horizons;

• Base Case scenario (800 tpd by ramp):

Access to the deposit is planned through continued development of existing internal ramp;

Average production of approximately 78,000oz Au per year from 2017 to 2022, at an average dilutedmined grade of 8.67 g/t Au;

Estimated average cash costs of approximately $552/oz Au for the period 2017 – 2022;

Sustaining capital costs of $40.5M for the period 2017 – 2022.

• Expanded Scenario Analysis:

The PEA shows that once the mining activities reach the third mining horizon in the first half of 2017,mining productivity could potentially be increased to 1,150tpd;

To accommodate an expanded mining rate, numerous options were evaluated using a number of criteria;

A dedicated production haulage ramp from 450L to mill facilities utilizing 45t trucks and dumping intomill ore bins shown as superior alternative;

Potential capital requirement for the dedicated ramp and related infrastructure estimated at $16.6M.

ISLAND GOLD MINEMining Studies


800 TPD ANALYSIS


• 18 potential options were identified during a brainstorming session. These options can be grouped in 5 categories;• Shafts• Winzes• Vertical Conveyor System• Horizontal Conveyor Systems• Ramps system with trucks.

• Following a preliminary CAPEX and OPEX estimation 5 options wereretained and evaluated in greater detail;• Status Quo• Full service, long shaft, timbered• Winze, full service, timbered• From 450L, 60’’ conveyor in a ramp reaching mill sector• Double ramp from 450L to minimize traffic

TRADE OFF STUDY METHODOLOGY


TRADE OFF STUDY METHODOLOGYPugh Matrix Selection Criteria

Pugh Matrix Selection Criteria Criteria WeightNPV 20%

Capital availability 5%Potential for increase daily output 10%

Independance from on going activities 10%Speed of execution of plan 10%

Maturity of selected technology 5%Training for different duties 5%

Capacity to support phase II (850 to 1500m levels) 35%

100%


Relative NPVs* were calculated for comparison.

TRADE OFF STUDY METHODOLOGY

* Only Capex and Opex were considered in the calculation


▪ At 800 tpd, with current mineral resources, status quo is themost attractive option;

▪ Shaft options are not attractive due to high capital requirementsand modest gain in Opex since no ore pass system can bejustified at this point;

▪ Options involving a new ramp reaching the mill directly isinteresting due to a 2$/t credit gained by eliminating truckingore on surface. Can be quickly implemented;

▪ All options involving high capital investments are not attractivesince the total tonnage (2MT) is not sufficient to justify theinvestment.

24

TRADE OFF STUDY METHODOLOGYResults


Based on December 31st, 2014 Mineral Reserves and Resources;

Mineral reserves included in this PEA mine plan were re-categorized asM&I resources;

Excludes isolated R&R blocks to the west;

Includes 2.09 MT of mineralized material between the 450L and 860L;

Double ramp system from 740 to 860m levels to allow multipleproduction stope mining and improve cycle times;

Can support a productivity enhancement to 1,150 tpd starting in early2017.

800 TPD MINE PLAN HIGHLIGHTS



Reserves & Resources (at Dec. 31/14) Below 400L

Proven & Probable: 431,500 t @6.76 g/t Indicated 438,000 t @ 10.95 g/t Au Inferred 3,178,000 t @ 9.00 g/t Au


20

Resources Considered in the mine planMeasured and Indicated: 626,059 @ 9.94 Au g/tInferred: 1,245,199 @ 11.04 Au g/t

Including mine dilution(18%) and recovery (95%)

2 090 000 t @ 8.5 Au g/t



• Wide (orange, +4m) and narrow (blue, 3m) zones were identified for development sizing;

• Introduction of a double ramp system from 720L;

• Focus on 3 main mining horizons and 6 domains;

• 80% of the mineralized material in the last 2 horizons (635L-860L);

• 50% of mineralized material in the third horizon (740L-860L).

720L

635L

860L



Status as of January 1st 2016


Mining startedon first horizon in 2015 at 635L.


Status as of January 1st ,2017


Both rampscompleted to 860L;

Bottom silldevelopment iscompleted;

Production drillinghas started for thosedomains;

Mining on 740L has started.



Status as of January 1st , 2018

Mining performed on 3 different sill horizons;

2 domains per horizon available for the lower sills;

6 domains available;

Potential to increase production to 1,150 t/day from 2017.




Optimum mining sequence




Optimum mining sequence continued




Bottom sill horizon almost completely mined out



Status as of Mars 1st , 2023 (Mining completed)


800 TPD MINE PLAN HIGHLIGHTSPEA Mine Plan

2015 2016 2017 2018 2019 2020 2021 2022 Total

Stope tonnage (t) 59,401 188,609 211,030 269,134 288,748 306,821 298,277 267,328 1,889,348

Grade (g/t) 5.98 6.94 7.03 9.10 10.33 9.20 8.70 7.08 8.41

Development tonnage (t) 44,486 69,010 85,760 199,256

Grade (g/t) 9.59 11.34 8.70 9.81

Total tonnage mill (t) 103,888 257,619 296,790 269,134 288,748 306,821 298,277 267,328 2,088,604

Grade (g/t) 7.53 8.12 7.51 9.10 10.33 9.20 8.70 7.08 8.55

Tonnage Ratio (developement/stope) 0.75 0.37 0.41

2015 2016 2017 Total

Development CAPEX

Horizontal development (m) 2,213 3,814 1,569 7,596

Vertical development (m) 152 304 228 684

Development OPEX

Horizontal development (m) 1,541 2,468 2,913 6,922

Vertical development (m) 701 871 1,571


800 TPD MINE PLAN HIGHLIGHTSPEA Mine Plan

Project summary 2017-2022Tonnes Milled (t) 1,727,097Head Grade (g/t) 8.67

Mine life excluding transition period (years) 6 Daily mine production (tpd) 801

Gold recovery (%) 96.5 Production (oz) 464,579

Average annual gold production (oz) 77,430Total operating cost ($) 256,236,870

Average cash operating cost ($/t) 148 Average cash operating cost ($/oz) 552

Transition Period Project Capital 2015-2016 ($) 62,244,025Sustaining Capital ($) 40,501,446


MAXIMUM CAPACITY


MAXIMUM CAPACITY

• Numerous production scenarios were run assisted with EPS® planning software (a CAE Mining® tool);

• Integration of a double ramp system in lower part of the mine allows for an increase in productivity output;

• A maximum capacity of 1,150tpd scenario was retained.


Simulation at 1,150 tpd mining rateMAXIMUM CAPACITY


MATERIAL HANDLING OPTIONS


MATERIAL HANDLING OPTIONS1,150 tpd mining plan

Estimation withcurrent mineral

resources

Option NPV-R - 1150 tpdFull service, long shaft, timbered -$64 125 386Winze, full service, timbered -$48 372 212From 450 level, 60'' conv. -$36 817 372Double ramp from 450m level -$34 135 124

• Relative NPVs* were calculated for comparison

* Only Capex and Opex were considered in the calculation


• Following the NPV-R analysis, the economics of driving a new ramp but replacing the installation of conveyor by used of 45 tons trucks was also looked at and selected as best option.

• Lower total project capital option;• Implementation time can be 12 months after start-up;• Eliminates surface rehandling;• Allowed greater flexibility for further growth beyond

1,150 t/day;• Does not limit growth below 1,000L as internal shaft

could potentially be added;• Further engineering required



1,150 TPD Study


MILLING STUDY


ISLAND GOLD 800 tpd flowsheet


ISLAND GOLD IMPROVEMENT PROJECTS900 tpd

• Priority Modifications• Rearrange the cyclone manifold (2 cyclones in op., 1 standby)

• Replace the thickener feed, CIP feed and tailings pumps

• Replace the process water pumps and add process water tank level control loop

• Install reclaim water pumps and distribution loop pressure control

• Recommended Modifications• Replace the magnets of conveyors #1 and #4 with self cleaning ones

• Install a lime slaking system and lime distribution loop

• Add an anti-scale system and a back up flocculants pump

• Install a gold sludge filter and drying oven in the gold room

• Expand the gold room and improve its security system

• Install a fire protection system


ISLAND GOLD EXPANSION PROJECTS900 tpd

•Cost Evaluation

Projects total

Self Cleaning Magnets 385 400 $

Cyclones Arrangement Modification 162 000 $Slurry Pumps 255 200 $Process Water Circuit Modifications 146 900 $Reagents 712 000 $Refinery Upgrade 655 600 $Electrical Upgrade 980 000 $

Total 3 297 100 $


ISLAND GOLD EXPANSION PROJECTS1,200 tpd

• Necessary Modifications• Rearrange the crusher circuit including an additional cone crusher• Replace the crusher circuit screen• Increase the fine ore bin storage capacity• Replace the thickener feed well and feed dilution system• Replace slurry pumps

• Recommended Modifications• Replace the regrind mill with a 10’ diameter mill• Add a gravity circuit including a centrifugal bowl concentrator, a magnetic separator

and a shaking table • Add circular screens in CIP tanks

TOTAL PRELIMINARY COST: 15.0 M$


PEA – QUALIFIED PERSONS

• The PEA was developed through the combined efforts of theCorporation’s Internal Technical Team and independent consultantsfrom InnovExplo Inc. and Soutex Inc.

• Richmont: All work for the PEA was performed under the directsupervision of Daniel Adam, P.Geo., Ph.D., Vice-President, Explorationand Jean Bastien, P. Eng.,MBA, General Manager of the Island Goldmine; both are employees of Richmont. Both are members of aprofessional association and are qualified persons as defined in NI 43-101. Both have reviewed and approved the technical contents of thePEA.

• InnovExplo Inc.: The PEA was prepared under the supervision ofSylvie Poirier, P.Eng., a senior engineer with InnovExplo Inc. Ms. Poirieris a qualified and independent person as defined in NI 43-101. She hasreviewed and approved the technical contents of the PEA.

• Soutex Inc.: Information relating to the mill upgrade, expansiondesigns and estimated costs was prepared under the supervision ofMathieu Bélisle, P. Eng. Mr. Bélisle, a senior metallurgist with SoutexInc., and a qualified and independent person as defined in NI 43-101.He has reviewed and approved the technical contents of the PEA.


GEOLOGY AND EXPLORATION PROGRAMS


Ego Deposit

Emily Bay Showing

Argonaut 1,968 hc.

Dubreuilville

2 km

RICHMONT MINES PROPERTIES

OTHER OWNERS

Portal MainRamp

ISLAND GOLD MINE

ClineEdwards

Magino

TSX - NYSE MKT: RIC Copyright 2015 by Richmont Mines

RICHMONT MINES216 Mining Titles 7,696 hectares

RICHMONT MINES INC.Land Tenure


Lake Superior

Marathon

White River17

25 km

Wawa

HEMLO

RENABIE

MISHI EDWARDS

ISLAND GOLD MINE

Proterozoic Plutonic and Volcanic RocksArchean Granitoid PlutonsArchean Metasedimentary TerranesArchean Greenstone TerranesFaultGold Past Producer

Gold Producer


SUGAR ZONESCHREIBER

EAGLE RIVER

ISLAND GOLD MINEWawa Geological Sub-province


Mill

EDWARDSProduction : 0,5 MT @ 11.0 g/t Au144 000 oz Au 1938,1997-2002

CLINEProduction : 0,3 MT @ 6.5 g/t Au63 000 oz Au 1938-40, 1947-48

1 km

Lochalsh

Gold Showing

KREMZARProduction : 0,6 MT @ 4.8 g/t Au47 000 oz Au 1988-1990

ISLAND GOLD MINE (31/12/2014) Proven & Probable Reserves : 895,000 T @ 6.39 g/t Au183,750 oz Au Measured & Indicated Resources: 733,500 T @ 9.29 g/t Au219,050 oz AuInferred Resources: 3,547,500 T @ 8.79 g/t Au1,002,750 oz Au

Goudreau

Closed Gold Mine

Producing Gold Mine

Richmont Properties

MAGINOProduction : 0,8 MT @ 4.4 g/t Au114 000 oz Au 1930-40, 1988-92

DEEP C ZONE

57

ISLAND GOLD MINELocal Geology


Overburden

535 Level

620 Level

Island Mainmineralized zones

Inflection

Island Lowermineralized zones

Actual rampand drifts

Crown pillar

-500m

-750m

-250m

50m

100m

ISLAND GOLD MINESchematic Section of Main Mineralized Zones


49,196 oz(1) Resources are exclusive of Reserves, and do not have demonstrated economic viability at this time. (2) Established on December 31/14, using a gold

price of US$1,200/oz and an exchange rate of CAN$1.0833=US$1.00. In 2013, a price of US$1,225/oz and an exchange rate of CAN$1.06=US$1.00 were used. (3) Underground Resources established for the C Zone and six other lateral zones below a vertical depth of -400 metres.

Mineral resources were estimated by 3D block modeling with blocks of 5m x 5m x 2 m for the Upper part and blocks of 10m x 10m x 5m for the lower part of the mine. Grade estimation was done by ordinary Kriging or ID2

59

MINERAL RESERVES + RESOURCES1

AS OF DEC. 31, 2014 AS OF DEC. 31, 2013

Tonnes(metric)

Grade(g/t Au)

Au ozs contained

Tonnes(metric)

Grade(g/t Au)

Au ozs contained

Island Gold Mine

P & P Reserves 2 (above -400 m) 463,000 6.04 90,000 644,500 6.01 124,450

P & P Reserves 2,3 (below -400 m) 431,500 6.76 93,750 88,500 6.70 19,050

Total P & P Reserves 2 895,000 6.39 183,750 733,000 6.09 143,500

M & I Resources (above -400 m) 295,500 6.83 64,850 283,500 7.07 64,450

Indicated Resources3 (below -400 m) 438,000 10.95 154,200 456,000 11.52 168,900

Total M & I Resources 733,500 9.29 219,050 739,500 9.81 233,350

Inferred Resources (above -400 m) 369,500 6.97 82,800 363,000 7.09 82,750

Inferred Resources 3 (below -400 m) 3,178,000 9.00 919,950 3,196,000 9.29 954,600

Total Inferred Resources 3,547,500 8.79 1,002,750 3,559,000 9.07 1,037,350

Copyright 2015 by Richmont MinesTSX - NYSE MKT: RIC

ISLAND GOLD MINEMineral Estimated Reserves & Resources


515L to 700L

NE

Lochalsh Island ZoneExtension1

Extn 2Goudreau Zone

ISLAND GOLD MINEIsometric View


LEVEL

CHANNEL FACE SAMPLING

Length(m)

Au (g/t)Cut 47 g/t Au

True Thickness(m)

515W 37 10.53 2.2

535W 83 9.82 2.5

560W 120 9.69 2.8

585W 95 6.96 3.1

610W 99 7.34 2.6

635W 167 12.52 2.5

655W 77 10.67 2.7

535E 34 12.05 2.4

560E 109 6.59 3.0

585E 152 8.73 3.8

610E 162 7.64 3.1

635E 142 8.65 2.9

655E 83 8.15 2.9

Note: as of September 30th, 2015

ISLAND GOLD MINEHighlight Results of Face Sampling – C Zone


Island Gold Mine - 2015 Lower Development Reconciliation

Development (Reserve)

Reserves ( as of Dec 31st, 2014; Dil. 30% @ 0.5gpt) Mined (reconciled) Variations (Mined vs

Reserves)

Diluted Tonnes

Diluted Grade

Diluted Ounces

Reconciled Tonnes

Reconciled Grade

Reconciled Ounces Tonnes Grade Ounces

Lower Development Q1 17,229 5.5 3,024 13,831 6.1 2,714 80% 112% 90%



Lower Development 2015 70,758 6.0 13,726 64,381 6.5 13,408 91% 107% 98%

ISLAND GOLD MINE2015 – Lower development reconciliation

Note: as of September 30th, 2015


190 Level

Crown pillar

W E

- 1,000 m

- 500 m

GOUDREAULOCHALSH ISLAND EXT1 EXT2

TSX - NYSE MKT: RIC © 2015 by Richmont Mines

Definition drilling 14,500 m

2015 Planned Ramp and Drift Development

Conceptual Development


2015 Stoping

Mined out



63

2015 PLANNED DRILLINGDrilling will define & delineate between -500 metres and -1,000 metres

Delineation drilling 44,500 m

ISLAND GOLD MINE2015 Planned Development & Drilling Activities


2000 100

meters

4900m


Cut Grade(95g/t Au)

Crown pillar

W E

- 1,000 m

- 500 m

LOCHALSH ISLAND EXT1 EXT2

ISLAND GOLD MINEC Zone – Grade (g/tAu)


2000 100

meters

4900m

Crown pillar

W E

- 1,000 m

- 500 m


True width (metres)

ISLAND GOLD MINEC Zone – True Width (metres)


2000 100

meters

4900m

Crown pillar

W E

- 1,000 m

- 500 m


Interpreted plunge of deposit axis

Cut off (3.75 g/t Au / 2.0 m)

32730

20

10

5

0

Metal FactorGrade (g Au/t) x true width (metres)

Average mining grade (5.84 g/t Au / 2.4 m)


11.25g/t Au / 6.56m

13.3g/t Au / 3.6m

19.8g/t Au / 3.93m

2.04g/t Au / 6.33m

5.06g/t Au / 2.47m

ISLAND GOLD MINEC Zone – Metal Factor (grade x width)


190 Level

Crown pillar

W E

- 1,000 m

- 500 m



Definition drilling 14,500 m

2015 Planned Ramp and Drift Development

Conceptual Development


2015 Stoping

Mined out



2015 PLANNED DRILLINGDrilling will define & delineate between -500 metres and – 860 metres

Delineation drilling 44,500 m

ISLAND GOLD MINE2015 Planned Development & Drilling Activities


190 Level

Crown pillar

W E

- 1,000 m

- 500 m



Mined out



C Zone Intersections (Au cut 95 g/t)Au g/t / true thickness (metres)

400-528-104.44 / 6.07

400-528-104.79 / 2.87

GD-14-01C19.87 / 3.93

Previous holes

GDE-10-141.96 / 1.67

GDE-10-153.99 / 2.15

GDE-10-169.93 / 1.07

GDE-10-124.94 / 2.77

5,000 m drillingfrom 450 level 5,000 m drilling

from 340 level

400-528-097.44 / 8.49

GDE-10-124.89 / 4.16

GDE-10-126.28 / 1.97

Assays pending

31,000 m drillingfrom 620 level

400-514-5213.30 / 3.60

ISLAND GOLD MINE2015 Planned U/G Exploration Drilling (41,000m)


190 Level

Crown pillar

W E

- 1,000 m

- 500 m



Mined out




400-528-104.44 / 6.07

400-528-104.79 / 2.87

GD-14-01C19.87 / 3.93

Previous holes

GDE-10-141.96 / 1.67

GDE-10-153.99 / 2.15

GDE-10-169.93 / 1.07

GDE-10-124.94 / 2.77

400-528-097.44 / 8.49

GDE-10-124.89 / 4.16

GDE-10-126.28 / 1.97

Assays pending

8,500 metres of drilling2,500 m from surface +6,000 m from Level 190

7,000 m drillingfrom surface

23,000 m drilling

from surface

190-419-1221.12 (17.33 cut) / 4.78 c.l.

LC-388-015.73 / 2.70 c.l.

400-514-5213.30 / 3.60

ISLAND GOLD MINE2015 Planned Surface Exploration Drilling


190 Level

Crown pillar

W EGOUDREAULOCHALSH ISLAND EXT1 EXT2


400-528-104.44 / 6.07

400-528-104.79 / 2.87

GD-14-01C19.87 / 3.93

400-514-5211.25 / 6.56

- 500 m

- 1,000 m

- 1,500 m


Gold Zone Intersections (Au cut 95 g/t)Au g/t / true thickness (metres)

Previous holesTarget


Mined out

Deep directional exploration from surface (23,000 metres)

400-514-5213.30 / 3.60

ISLAND GOLD MINE2015 – 2016 Deep Directional Drilling Program


190 Level

Crown pillar

W E

- 1,000 m

- 500 m



Mined out




400-528-104.44 / 6.07

400-528-104.79 / 2.87

GD-14-01C19.87 / 3.93Underground exploration 41,000 m

Lateral extension exploration 15,000 m

2015 Exploration DrillingPrevious holes

GDE-10-141.96 / 1.67

GDE-10-153.99 / 2.15

GDE-10-169.93 / 1.07

GDE-10-124.94 / 2.77



GDE-10-124.89 / 4.16

GDE-10-126.28 / 1.97

Assays pending


7,000 m drillingfrom surface

23,000 m drilling

from surfaceSurface deep directional exploration 23,000 m

8,500 metres of drilling2,500 m from surface +6,000 m from Level 190

190-419-1221.12 (17.33 cut) / 4.78 c.l.

LC-388-015.73 / 2.70 c.l.

ISLAND GOLD MINE2015 Planned Exploration Drilling

PEA Resources Area


Mill

Maskinongelake

MAGINO MINE(1988-1992 & 1933-1939)114,000 oz Au0.8 MT @ 4.4 g/t Au

MAGINO OPEN PIT (Resources)158 MT @ 1.03 g/t Au 5.2 million oz Au

CLINE MINE (1938-1942)63,000 oz Au0.3 MT @ 6.5 g/t Au

EDWARDS MINE(1996-2002 & 1936-1937)144, 000 oz Au0.5 MT @ 11.0 g/t Au

KREMZAR MINE (1988-1990)47,000 oz Au0.6 MT @ 4.8 g/t Au

ISLAND GOLD MINE (31/12/2014) Proven & Probable Reserves : 895,000 T @ 6.39 g/t Au; 183,750 oz Au Measured & Indicated Resources: 733,500 T @ 9.29 g/t Au; 219,050 oz Au

East Extension

West Extension

- 1,000 m

- 500 m

- 1,500 m

MAGINO ISLAND GOLD EDWARDS CLINE

Rich

mon

t

Rich

mon

t

Argo

naut

Strik

e M

iner

als

Drilling target

2015 Surface Exploration Program (7,500 m)1 km

GDE-10-153.99 / 2.9

GDE-10-169.93 / 1.8

GD-11-0610.90 / 1.2

Gold Zone Intersections (Au uncut g/t)Au g/t / core length (metres)

LC-388-015.73 / 2.7

Clin

e M

inin

g Co

rp.

EastExtension

WestExtension

ISLAND GOLD MINEPlanned Regional Surface Exploration Drilling


THANK YOU - Q & A

Island Gold Mine Technical Session Presentation

Investor Relations

Transcript of Island Gold Mine Technical Session Presentation