BEAUFOR MINE

Richmont Mines announced the results for its 8,551 metre surface drilling program recently completed at the Beaufor Mine located Quebec, Canada. Drilling in the W Zone confirmed the potential of this area by revealing several interesting intercepts including 12.62 g/t gold over 1.40m was found in Hole 80-40, in Hole 80-44 returned 14.09 g/t gold over 3.76m, Hole 80-46 intersected 6.75 g/t gold over 5.51m and 34.25 g/t gold over 0.95m in Hole 80-48. The W Zone is located at the hanging wall contact of a dioritic dyke cutting sheared mafic volcanics within the Bourlamaque batholite.

Richmont Mines announced financial and operational results for its second quarter ended June 30, 2010. Revenue for the second quarter of 2010 was $20.7 million, a notable 32% year-over-year improvement over the $15.7 million of revenue generated in the second quarter of 2009. This was driven by an 18% increase in the number of gold ounces sold to 15,607, from 13,250 gold ounces in the prior year, in addition to a higher average realized sales price of US$1,218 (CAN$1,259) per gold ounce, versus the comparable US$941 (CAN$1,075) in the prior year.

Richmont Mines Inc. and Louvem Mines Inc. announced assay results from drilling program at the Beaufor gold mine located in Quebec, Canada. Highlights include hole 50-01 which intersected 1.0 m of 100.0 g/t gold. Beaufor Mine recently attained the production level of 1,000,000 gold ounces over its mine life.