BEAUFOR MINE

115,674 tonnes of ore, at an average recovered grade of 8.85 g/t, were processed, and 32,908 ounces of gold were sold at an average price of US$886 per ounce. In the same period the prior year, 97,429 tonnes of ore, at an average recovered grade of 8.36 g/t, were processed, and 26,182 ounces of gold were sold at an average price of US$693 per ounce.

Reported results from the 2008 exploration drilling program. An intercept from hole 106-104 at zone F intersected 0.5m at 100 g/t Au from 212.9m, hole 157-13 returned 2.5m of 49.10g/t Au, and hole 142-52 returned 1.60m of 29.94 g/t Au. During the second quarter of 2008, 29,062 tonnes of ore from the Beaufor Mine were processed at an average recovered grade of 9.31 g/t, and 8,702 ounces of gold were sold at an average price of US$910 (CAN$917) per ounce, Louvem’s share was 4,351 ounces. In the same quarter the prior year, 39,874 tonnes of ore were processed at an average recovered grade of 9.83 g/t, and 12,597 ounces of gold were sold at an average price of US$675 (CAN$725) per ounce, Louvem’s share was 6,298 ounces. During the first quarter of 2008, 30,697 tonnes of ore from the Beaufor Mine were processed at an average recovered grade of 8.11 g/t, and 8,003 ounces of gold were sold at an average price of US$955 (CAN$955) per ounce Louvem’s share was 4,001 ounces. In the same quarter the prior year, 29,700 tonnes of ore were processed at an average recovered grade of 6.50 g/t, and 6,211 ounces of gold were sold at an average price of US$726 (CAN$780) per ounce Louvem’s share was 3,106 ounces.

Richmont Mines reported results from the 2008 exploration drilling program at their Beaufor Mine, Quebec, Canada. Exploration drilling has been focused on identifying opportunities to extend the mine below current infrastructure. Approximately 20 exploration holes have been drilled through the first half of 2008 for a total of 9,871 metres. Selected highlights include a 0.5 m intersection and a 1.0 m intersection over the 100 g/t Au cutoff. For the second half of 2008, an estimated 25 additional holes totalling 14,600 metres are planned. The objective is to increase the overall inferred resources to a depth of 610 metres below the lower level of the mine, where inferred resources stood at 133,692 tonnes at a grade of 7.03 g/t at the end of 2007.