Richmont Mines Closes Transaction Consolidating 100% Ownership of Island Gold Mine

MONTREAL, QUEBEC--(Marketwired - Aug. 6, 2014) - Richmont Mines Inc. (TSX:RIC)(NYSE MKT:RIC), ("Richmont" or the "Corporation"), is pleased to announce that it has closed the previously detailed transaction consolidating its ownership of the Island Gold Mine property. Please refer to the August 5, 2014 press release entitled "Richmont Mines consolidates 100% ownership of Island Gold Mine" for full details of the agreement.

 

About Richmont Mines Inc.

 

Richmont Mines has produced over 1.4 million ounces of gold from its operations in Quebec, Ontario and Newfoundland since beginning production in 1991. The Corporation currently produces gold from the Island Gold Mine in Ontario, and the Beaufor Mine and Monique Mine in Quebec. The Corporation is also advancing development of the extension at depth of the Island Gold Mine in Ontario. With over 20 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 (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, and the Corporation undertakes no obligation to publicly update such forward-looking information to reflect new information, subsequent or otherwise, unless required by applicable securities laws.

 

 

FOR FURTHER INFORMATION PLEASE CONTACT

 

Jennifer Aitken, Investor Relations

RICHMONT MINES INC.

514 397-1410 ext. 101

jaitken@richmont-mines.com

 

 

Elaine Ellingham, Interim President & CEO

RICHMONT MINES INC.

514 397-1410 ext. 105

eellingham@richmont-mines.com

www.richmont-mines.com