island gold site visit
TRANSCRIPT
Copyright 2015 by Richmont MinesTSX - NYSE MKT: RIC1
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Island Gold MineSite Visit May 27, 2015
Copyright 2015 by Richmont MinesTSX - NYSE MKT: RIC22
Safe harbor statement cautionary note to U.S.investors concerning mineral resource estimates
This presentation contains forward-looking statements that include risks and uncertainties. The factors thatcould cause actual results to differ materially from those indicated in such forward-looking statementsinclude changes in the prevailing price of gold, the Canadian-U.S. exchange rate, grade of ore mined andunforeseen difficulties in mining operations that could affect revenue and production costs. Other factorssuch as uncertainties regarding government regulations could also affect the results. Other risks may bedetailed from time to time in Richmont Mines Inc.’s periodic reports and annual notice.
The mineral resource estimates in this presentation were prepared in accordance with Regulation 43-101adopted by the Canadian Securities Administrators. The requirements of Regulation 43-101 differsignificantly from the requirements of the United States Securities and Exchange Commission (the “SEC”). Inthis presentation, we use the terms “Measured”, “Indicated” and “Inferred” Resources. Although these termsare recognized and required in Canada, the SEC does not recognize them. The SEC permits U.S. miningcompanies, in their filings with the SEC, to disclose only those mineral deposits that constitute “Reserves”.Under United States standards, mineralization may not be classified as a Reserve unless the determinationhas been made that the mineralization could be economically and legally extracted at the time thedetermination is made. United States investors should not assume that all or any portion of a Measured orIndicated Resource will ever be converted into “Reserves”. Further, “Inferred Resources” have a greatamount of uncertainty as to their existence and whether they can be mined economically or legally, andUnited States investors should not assume that “Inferred Resources” exist or can be legally or economicallymined, or that they will ever be upgraded to a higher category.
U.S. Investors are urged to consider the disclosure in our annual report on Form 20-F, File No. 001-14598,which may be obtained from us or from the SEC’s web site: http://sec.gov/edgar.shtml.
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Island Gold MineMay 27 Site Visit - Agenda
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1. Welcome & Safety Induction
2. Presentations A. IntroductionRenaud Adams, President CEO
B. Workforce and Health SafetySylvain Drolet, Health & Safety Superintendent
C. Sustainability CommunityJean Bastien, Mine Manager
D. Geology ExplorationDoug Mac Millan, Senior GeologistRaynald Vincent, Chief Geologist
E. OperationsJean Bastien, Mine ManagerJacques Proulx, Asst. Mine Manager
F. Development PlansRenaud Adams, President CEO
3. Lunch and Q&A
4. Underground visit
5. Mill tour
6. Core shack
7. Departure
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Richmont MinesTSX - NYSE MKT: RIC
4
Safety induction
At all times:
No horseplay is tolerated
Each refuge station has a first aid kit.Tell your tour guide of any injury immediately.
Have a safe and pleasant visit
In case of emergency, stay calm, follow instructions from your tour guide andregroup in the gathering area beside the parking lot. Each area is equippedwith fire extinguisher
When your outside of the building, PPE should be worn at all times1. Hard hat2. Safety glasses3. Reflecting vest4. Safety boots
Stay with your guide at all times. If for any reason you lose contact STAYWHERE YOU ARE and your tour guide will find you.
In case of emergency, stay calm and follow your tour guide’s instructions.
No horseplay is tolerated at any time.
Island Gold MineSafety Induction – Main Buildings Surface
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Island Gold MineSafety Induction - Underground
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Underground and surface safety requirements:1. Tag in prior to going underground2. Do not exit from vehicles in motion3. Use points of contact rule when entering/exiting
vehicle4. Stay with the group at all times5. Follow the instructions of your guide in an
emergency situation6. Watch for uneven ground and report any unsafe
conditions7. Tag out when leaving underground
Medical clinic and help available at all times.
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IntroductionPresented by:
Renaud AdamsPresident CEO
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Island Gold MineMineralized zones
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RICHMONT MINES203 Mining Titles
7,168 hectares
Emily Bay Showing
Argonaut 1,968 he
Dubreuilville
2 km
Island Gold MineManagement Team
Copyright 2015 by Richmont MinesTSX - NYSE MKT: RIC
Jean Bastien, Eng., MBA Sylvain DroletMINE MANAGER HEALTH AND SAFETY SUPERINTENDENT
Jacques Proulx, Mining Technician Raynald Vincent, Eng., M.G.P.ASSISTANT MINE MANAGER CHIEF GEOLOGIST
Marc Leclair Don LachapelleUNDERGROUND SUPERINTENDENT MAINTENANCE SUPERINTENDENT
Peter Massi Daniel VachonMILL SUPERINTENDENT CHIEF MINE ENGINEER
Sylvie BelisleH.R. SUPERINTENDENT
7
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Island Gold MineLocation Map
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Island Gold MineRegional Setting
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Island Gold MineSite Map Infrastructure
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Ego Deposit
Emily BayShowing
Argonaut 1,968 hc.
Dubreuilville
km
RICHMONT MINES PROPERTIES
OTHER OWNERS
Portal MainRamp
ISLAND GOLD MINE
ClineEdwards
Magino
Richmont Mines Inc.Island Gold Mine Land Tenure
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RICHMONT MINES216 Mining Titles7,696 hectares
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Crown pillar
W E
- 1,000 m
- 500 m
GOUDREAULOCHALSH ISLAND EXT1 EXT2
2015 Planned Ramp and Drift DevelopmentConceptual Development2015 Planned Ore Development
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Island Gold MineExtending Mine Life at Depth....
2015 Stoping
Mined out
Reserves – Resources 31/12/14
Actual Ramp and Drifts
190 Level
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• Consolidated ownership of claims
• Reaffirmed future growth potential of extension at depthwith step-out exploration drilling
• Infrastructure development significantly advanced
• Established estimated Mineral Reserves1 below 400metres
(1) Mineral Reserves are exclusive of Resources. In 2014, based on gold price of US$1,200/oz and an exchangerate of CAN$1.0833 US$1.00.
Island Gold Mine2014 - Reshaping for Future Growth
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Island Gold Mine2015 – Beginning transformational year
SHAREHOLDER SCORECARD:
1. Ramp development: completeplanned accelerated development oframps, and related electrical, watermanagement work
2. 620 metre level drift: completedefinition/delineation drilling toupgrade to M&I and then to Reserves
3. Exploration drilling grow Resourcebase via 61,000 metres of drilling
4. Mining milling studies: completestudies and internal review by year-end 2015 to determine long-termgrowth scenario.
5. Fixed assets equipment: maketargeted and strategic investments toposition the mine for game-changinggrowth.
Main ramp at -675 mEast ramp at -470 m
Drift extended to 290 m4,378 delineation drilling
3,331 of exploration drillingDrilling focused in 2nd half/15
Studies initiatedPreliminary results: Q3 2015
Electrical water pumping linesMore upgrades in Q2/Q3
Q1 2015 PROGRESSOBJECTIVE
Main ramp to -750metres, 2nd ramp to-570 metres
Extend drift to 600metres; complete59,000 of drilling
Evaluate easternextension potential
Evaluating base caseand alternativemine/mill options
Repositioningasset upgradeinvestments
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2015 Forecast Gold ounce sales 45,000 – 50,000Guidance Cash cost1,4 oz CAN$935-$1,035 (US$850 - $940)
AISC2,4 oz CAN$1,350 - $1,495 (US$1,230 - $1,360)
Q1 2015 Gold ounces produced 10,764Gold ounce sales 8,923Cash cost1 /oz CAN$1,414 (US$1,139)AISC 2 oz CAN$1,843 (US$1,485)
(1) Cash costs include royalties, and is non-GAAP measure. (2) AISC All-in-sustaining-cost, non-GAAP measure. (3) All performance data forFY2013 FY2014 are based on ounces sold. For Q1 2015, tonnes, gold recovery and head grade data are based on ounces produced. (4) Assumingexchange rate of CAN$1.00 US$0.91 (US$1.00 CAN$1.10).
ISLAND GOLD MINE3 FY 201312 mo ended Dec.31
FY201412 mo ended Dec 31
Q1 2015mo ended Mar 31
Tonnes 244,631 233,202 43,785
Gold recovery (%) 96.1% 96.3% 97.2%
Head grade 4.65 g/t 5.83 g/t 7.87 g/t
Gold ounces sold 35,113 42,078 8,923
Avg. cash cost/oz (US$)1 1,092 889 1,139
Avg. sales price/oz (US$) 1,392 1,266 1,211
Island Gold Mine2015 Guidance
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WorkforceHealth Safety
Presented by:Sylvain Drolet
Health and Safety Superintendent
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Island Gold MineWorkforce Statistics
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74%
26%
% Local % Non-Local
Total mine site workforce of 384:
225 employees (164 hourly, 61 staff)159 contractors
Workforce – local vs. non-local breakdown:Successfully increasing local workforceLow turnover rate
53%47%
% Local % Non-Local
2008 2014
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Island Gold MineHealth Safety
• 4.5 years without lost time accident
• Mine rescue competition:Mine District Champion in 2014First Aid Champion years in row (2013-2015)
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Island Gold MineHealth Safety
Q1 2014* Q2 2014 Q3 2014 Q4 2014 Q1 2015Frequency 12 months 8.7 9.7 5.7 6.0 5.5Lost time accidents 0.0 0.0 0.0 0.0 0.0Objective 0.0 0.0 0.0 0.0 0.0
0.0
2.0
4.0
6.0
8.0
10.0
12.0
SAFETY PERFORMANCE
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Sustainability &Community
Presented by:Jean BastienMine Manager
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• No major non-compliance registered in 2014• Working on permitting for additional lift for tailing storage facilities,
which would provide an additional minimum 6 years of storage atcurrent mill capacity of 800 tpd
• Potential for continuous discharge, which would add additional 2 years• Construction planned for second half of 2015; associated cost is
included in 2015 sustaining capital guidance.
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Island Gold MineEnvironment Sustainability
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Island Gold MineCommunity
First Nations relationships:• Michipicoten• Missanabie Cree
Local community of Dubreuilville:• 17 km away from mine site• Total population of 900• Dubreuilville and Bunkhouse: 80 rooms + kitchen facility
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Geology &Exploration
Presented by:Doug Mac Millan
Senior Geologist
Raynald VincentChief Geologist
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Lake Superior
Marathon
White River17
25 km
Island Gold MineWawa Geological Sub-province
Wawa
HEMLO
RENABIE
MISHI EDWARDS
ISLAND GOLDMINE
Proterozoic Plutonic and Volcanic RocksArchean Granitoid PlutonsArchean Metasedimentary TerranesArchean Greenstone TerranesFaultGold Past Producer
Gold Producer
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SUGAR ZONESCHREIBER
EAGLE RIVER
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Wawa
Lake Superior
17
10 km
Dubreuilville
519
RENABIE
MISHI
EAGLE RIVER
EDWARDS
ISLAND GOLDMINE
Archean Granitoid PlutonsArchean Greenstone TerranesFaultGold ShowingGold Past ProducerGold Producer
MINE
Island GoldMaginoKremzarEdwardsClineRenabieWawa AreaEagle River
1,675,000803,000306,000390,000300,000
5,584,000478,000
3,300,000
5.64.44.8
11.26.57.27.89.3
307,000114,000
47,000140,000
63,0001,100,000
119,000962,000
MINE TONNAGE AU g/t OUNCES
MAGINO
25
Past Production 2,800,000 ozs Au
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Island Gold MineWawa Gold Camp
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Mill
EDWARDSProduction 0,5 MT 11.0 g/t Au144 000 oz Au
CLINEProduction 0,3 MT 6.5 g/t Au63 000 oz Au
1 km
Lochalsh
Gold Showing
KREMZARProduction 0,6 MT 4.8 g/t Au47 000 oz Au
ISLAND GOLD MINE (31/12/2014)Proven & Probable Reserves : 895,000 6.39 g/t Au183,750 oz AuMeasured & Indicated Resources: 733,500 9.29 g/t Au219,050 oz AuInferred Resources: 3,547,500 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
DEEP ZONE
Island Gold MineHoldings in Area
26
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Island Gold MineGoudreau Lake Deformation Zone
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5 km
N
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Island Gold MineShowings and Deposits
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Island Gold Mine2014 Mineral Reserves and Resources
ISLAND GOLD MINE (31/12/2014)TOTAL RESERVES AND RESOURCES
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
-500m
Crown pillar
W E
-1000m
250m
Proven ReservesProbable ReservesIndicated ResourcesC Zone Indicated &
Inferred ResourcesActual Ramp and DriftsMined Out
Au g/t / true thickness (metres)
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Island Gold MineIsometric View
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515L to 635L
NE
Lochalsh Island ZoneExtension1
Extn 2Goudreau Zone
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Island Gold MineIsometric View
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N
620 Exploration drift
E
Goudreau Extn 2 Extension 1 Island ZoneLochalsh
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2000 100
meters
4900m
Island Gold MineZone - Metal factor (grade width)
Crown pillar
W E
- 1,000 m
- 500 m
LOCHALSH ISLAND EXT1 EXT2
Interpreted plunge of deposit axis
32
Cut off(3.75 g/t Au 2.0 m)
32730
20
10
5
0
Metal FactorGrade (g Au/t) true width (metres)
Average mining grade(5.84 g/t Au 2.4 m)
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11.25g/t Au / 6.56m
13.3g/t Au / 3.6m
19.8g/t Au / 3.93m
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2000 100
meters
4900m
Island Gold MineZone – Grade (g/t Au)
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Cut Grade(95g/t Au)
Crown pillar
W E
- 1,000 m
- 500 m
LOCHALSH ISLAND EXT1 EXT2
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Island Gold MineZone – True width (metres)
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2000 100
meters
4900m
Crown pillar
W E
- 1,000 m
- 500 m
LOCHALSH ISLAND EXT1 EXT2
True width (metres)
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Island Gold MineSchematic Section of Main Mineralized Zones
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Overburden
535 Level
620 Level
Island Mainmineralized zones
Inflection
Island Lowermineralized zones
Actual rampand drifts
Crown pillar
-500m
-750m
-250m
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Island Gold MineSection 14940E
S N
-500m
-900m
100 m
510 Level
535 Level
Zone
Island Gold LowerResources
Section 14940E
560 Level
585 Level
Composite Longitudinal Section
620 Explo. Level635 Level
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Planned Dev.
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Island Gold MinePlan View – 675 Level
Composite Longitudinal Section
Level 675
675 Level Plan
Zone
W E
100
m
620 Exploration Level
ISLAND EXT 1 EXT 2
Island Gold LowerResources
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Island Gold MineTypical Section – Looking West
Crownpillar
-500m
-750m
-250m
Crownpillar
-1,000m
Island Lowermineralized zones
Mafic dykes
14960ESection
14740ESection
Mafic dykes
Island Lowermineralized zones
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Island Gold MineShear and Extensional Veining
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Island Gold MineGoudreau Zone Gold Vein
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Island Gold MineIsland 560 Sill
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ISLAND 560C
Approx. 13 cm
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Island Gold MineComposite Longitudinal Section, Lower Zones
400-514-1830.0 g/t Au 9.55 m
ISLAND GOLD MINE (31/12/2014)TOTAL RESERVES AND RESOURCES
Proven Probable Reserves895,000 6.39 g/t Au, 183,750 oz AuMeasured Indicated Resources:733,500 9.29 g/t Au, 219,050 oz AuInferred Resources:3,547,500 8.79 g/t Au 1,002,750 oz Au
400-528-104.79 2.87
400-528-097.44 8.49
400-528-104.44 6.07
GD-14-022.43/1.5
GD-14-10C19.87 g/t Au 3.93 m
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Island Gold MineOre Zone - Deep Level vs. Upper Level
Copyright 2015 by Richmont Mines
Higher grades in Island Deep averaging over 8.79 g/t in the currentinferred resource vs. the 5.6 g/t average mined between 2007-2013 inupper mine or a 35% grade increase.Veining more robust with increasing depth - a change from cm todecimeter stringers and veins progressing into decimeter and metre scaleveins with increasing depth.Average zone width of deep resource 4.5 metres width vs. upper zonesaveraging 2.7 metres or ~40% width increase (Press release 02/05/13).Vg hit ratio is typically 50% or better at depth, compared to 30% in theupper levels as calculated in the first Deep C resource estimate.Structural-alteration corridor enveloping all zones appears to bewidening at depth from about 50 meters to 100 meters.
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DH 400-514-18: 30.06G/9.55M -950M ELEV.
Smokey quartz vein 4.5 metres wide, weak development of accompanyingstringers, vertical zonation of veining style from sheeted veinlets +/- decimeterscale veins in upper levels to up to 2.0 metres veins at depth.
Island Gold MineDisplay Core Zone
44
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Still open at depth... GD14-01C 19.9 g/t Au over true width of 3.9 m
1,200 metres below
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DH 425-487-12: NICE DEEP VEIN - SMOKEY COLOR VG, NQ SIZE.
Island Gold MineDisplay Core Zone
46
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Island Gold MineDisplay Core Zone
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DH 425-487-18CM AU STRINGER AT 9,240 G/T AU
SAMPLE LENGTH OF 30 CM.
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Island Gold MineDescription of Gold Particles
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Island Gold MinePrevious QA/QC Pulp Metallic Method Review
2004 RPA Technical Report on the Island GoldDeposit concludes that gold in the Island Deposit isfine grained enough to respond well to normal fireassay procedures.2015: RPA completed a full review of estimatedMineral Resources as at December 31, 2014.
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Island Gold MineQuality Assurance Quality Control
Standard Reference Material inserted at rate of 1:20in core sample stream for exploration and 1:50 forproductionStandard Reference Material inserted into everyoutgoing chip sample batch (10-20 samples/batch)Coarse field blanks inserted after all visible gold coresamplesPulp and Reject laboratory cross checking routineDuplicate chip sampling on faces and core ongoingCore shack on gated mine site with limited access
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Island Gold MineActlabs vs. Lab Expert Reject Cross Checks
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Island Gold MineMineral Reserves and Resources
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Goudreau 215 G2
Goudreau
Island 560 C
Approx. 13 cm
Upper Island D
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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 gold
price of US$1,200/oz and an exchange rate of CAN$1.0833=US$1.00. In 2013, price of US$1,225/oz and an exchange rate of CAN$1.06=US$1.00 wereused. (3) Underground Resources established for the Zone and six other lateral zones below vertical depth of -400 metres.
Mineral resources were estimated by 3D block modeling with blocks of 5m 5m for the Upper part and blocks of 10m 10m x 5m for the lower partof the mine. Grade estimation was done by ordinary Kriging or ID2
53
MINERAL RESERVESRESOURCES1
AS OF DEC 31, 2014 AS OF DEC 31, 2013
Tonnes(metric)
Grade(g/t Au)
Au ozscontained
Tonnes(metric)
Grade(g/t Au)
Au ozscontained
IslandGoldMine
Reserves 2 (above -400 m) 463,000 6.04 90,000 644,500 6.01 124,450
Reserves 2,3 (below -400 m) 431,500 6.76 93,750 88,500 6.70 19,050
Total P Reserves 2 895,000 6.39 183,750 733,000 6.09 143,500
I Resources (above -400 m) 295,500 6.83 64,850 283,500 7.07 64,450
Indicated Resources (below -400 m) 438,000 10.95 154,200 456,000 11.52 168,900
Total 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
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Island Gold MineMineral Estimated Reserves Resources
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Island Gold MineResource Drilling Parameters
Measured Resources:DDH Spacing: 20 metres and lesswithin 8 metres of an U/G opening (raise, sill, stope)
Indicated Resources:DDH Spacing: 20-25 metresno U/G openings, good continuity of mineralization
Inferred Resources:DDH Spacing: more than 25 metres, wider spacing
Limit of resources block defined on longitudinal section with amaximum of 30 metres from a DDH
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190 Level
Crown pillar
W E
- 1,000 m
- 500 m
GOUDREAULOCHALSH ISLAND EXT1 EXT2
2015 Planned Ramp and Drift Development
Conceptual Development
2015 Planned Ore Development 2015 Mining Area
Mined out
Resources 31/12/2014 Actual Ramp and Drifts
Extend ramp systems
Exploration/definitiondrift on the -620 level
Reserves 31/12/2014
Dyk
e
Dyk
eDrill hole intersections+
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Island Gold MineHighlights Results of Face Sampling – C Zone
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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 92 6.94 2.9
610W 78 9.48 2.4
635W 126 14.00 2.5
535E 34 12.05 2.4
585E 70 7.18 4.4
610E 82 9.91 3.0
635E 74 12.54 2.7
Reconciliation of development (up to April 30, 2015), to the December 2014 resource model of 25,845 tonnes at 5.84 g/t Au, showed a 13% reconciliation to grade, returning 22,798 t at 6.59 g/t Au.
Copyright 2015 by Richmont MinesTSX - NYSE MKT: RIC57
Island Gold Mine2015 Planned Development Drilling Activities
190 Level
Crown pillar
W E
- 1,000 m
- 500 m
GOUDREAULOCHALSH ISLAND EXT1 EXT2
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Definition drilling 14,500
2015 Planned Ramp and Drift Development
Conceptual Development
2015 Planned Ore Development
2015 Stoping
Mined out
Reserves – Resources 31/12/2014
Actual Ramp and Drifts
57
2015 PLANNED DRILLINGDrilling will define delineate between-500 metres and -1,000 metres
Delineation drilling 44,500 m
2015 OBJECTIVES1. Extend main access ramp to -750 m2. Extend East Ramp to -570 m3. Extend 620 level drift to ~600 length
Copyright 2015 by Richmont MinesTSX - NYSE MKT: RIC58
hgb
Island Gold Mine2015 Planned Exploration Drilling
190 Level
Crown pillar
W E
- 1,000 m
- 500 m
GOUDREAULOCHALSH ISLAND EXT1 EXT2
TSX - NYSE MKT: RIC Copyright 2015 by Richmont Mines
Underground exploration 41,000 mSurface exploration 20,000
Mined out
Reserves – Resources
31/12/2014
Actual Ramp and Drifts
400-528-097.44 / 8.49
400-528-104.44 / 6.07
400-528-104.79 / 2.87
GD-14-01C19.87 / 3.93
C Zone Intersections (Au cut 95 g/t)Au g/t / true thickness (metres)
2015 Exploration drift
58
Drill Targets
2015 PLANNED DRILLINGDrilling will test eastern down plungeextension and areas closer to surface.
Previous holes
Copyright 2015 by Richmont MinesTSX - NYSE MKT: RIC59
OperationsPresented by:
Jean BastienMine Manager
Jacques ProulxAssistant Mine Manager
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Island Gold MineMining Methods
Production Drilling1.5mx1.5m spacing
2½”
Slot Raise 1.8mx1.8m
Mining is done using long-hole stoping100% long-hole stoping anticipated for below 400 metres
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Island Gold MineMine Sequencing
Pull void is used to create void for the next blastCables are used in the walls between rings for ground support
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Island Gold MineMill Details
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0.8 km from the ramp portalCIP gold milling process
CRUSHING GRINDING LEACHING CIP CIRCUIT STRIPPING ELECTROWINNING REFINING
All incurred costs are in Canadian dollarsCurrent capacity of 850 tpd2014 scoping study determined that the mill can be expanded to
1,200 tpd, at cost of $20 millionJaw crusher and cone crusher replaced in 2014Screening capacity will be increased in 2015
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Island Gold MineMill Flowsheet – 1 of 2
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Island Gold MineMill Flowsheet – 2 of 2
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Island Gold MineMill Production Opportunity
2015 objective: fill the mill to rated capacity of 800 tpd (based on 365 days)
400
450
500
550
600
650
700
750
800
850
900
2010 2011 2012 2013 2014 Q1 2015
Average tonnes per day
Copyright 2015 by Richmont MinesTSX - NYSE MKT: RIC6666Copyright 2015 by Richmont Mines
Island Gold MineMine Cost/Tonne Breakdown – FY 2014
All of Island Gold Mine operating costs are in Canadian dollars2014 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%
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Island Gold MineMining Unit Cost Opportunity
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Near-term opportunity: lower the mining cost by returning to historicaldevelopment 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%
Q1 2015
Uni
tMin
ing
Cost
of Development Ore of Total Ore Mined
Long-term planned ratio
Copyright 2015 by Richmont MinesTSX - NYSE MKT: RIC68
2015Development
PlansPresented by:
Renaud AdamsPresident & CEO
Jean BastienMine Manager
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Island Gold MineWell Positioned for Growth
Copyright 2015 by Richmont Mines
RICHMONT’S OBJECTIVE
To transform Island Gold Mine into alonger life, higher production and lowercost operation, with the ability todeliver years of high-quality growthand increased net free cash flow levels.
Copyright 2015 by Richmont MinesTSX - NYSE MKT: RIC70
Island Gold Mine2015 Project Capital
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Planned 2015 project and exploration investment of $29.2 million• 41,000 m of underground exploration drilling $3.2 million
Testing the eastern down-plunge extension
• 20,000 m of surface exploration drilling $2.0 millionTesting closer to surface step-out targets to the east and west
• Fixed assets $1.8 millionUnderground equipmentVentilation, electrical sub-station etc.
• Accelerated mine development work $19.0 millionExtend -620 m level exploration/definition driftExtend primary ramp to depth of –750 mExtend secondary ramp to –570 m
• Accelerated delineation drilling $2.2 millionDefine and delineate ounces between –500 m and –1,000 m
• Mining & milling studies $1.0 million
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Island Gold MineSustaining Capital
2015 Sustaining Capital of $19.1 million• Fixed assets & equipment $10.7 million
TailingsMillSurface – buildings, underground equipmentUnderground infrastructure (electrical, dewatering)
• 11,125 m of delineation drilling $0.7 million
• Mine development $7.7 millionPlanned development for near-term mining
Copyright 2015 by Richmont MinesTSX - NYSE MKT: RIC72
Crown pillar
W E
- 1,000 m
- 500 m
GOUDREAULOCHALSH ISLAND EXT1 EXT2
2015 Planned Ramp and Drift DevelopmentConceptual Development2015 Planned Ore Development
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2015 Stoping
Mined out
Reserves – Resources 31/12/14
Actual Ramp and Drifts
190 Level
ZONE 1
ZONE 2
ZONE 3Level 700 – Center of Mass
Level 850 – Limit Base Case
Pote
ntia
l
Island Gold Mine - StudiesBase Case – 800 tpd by Ramp
W GOUDREAULOCHALSH ISLAND EXT1 EXT2 E
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Ontario Quebec
Island Gold MineMining Studies
Consultant firm was retained for the mining studies
Phase 1 of the mining studies (summer 2015) will consist of:Optimization of Base Case scenario (800 tpd by ramp), which consists of:
Mining by ramp down to 850 metre levelDeveloping an optimized mine plan allowing to mine a minimum of 800 tpd,depleting ounces while maintaining a center of mass (tonnes-km) a level 700/750at all timeTime study confirmed that 800 tpd could by hauled from level 725 with currentramp size
Analysis of capacity of deposit without underground infrastructurelimitationsSelection of top scenario allowing increased mining capacity (possibilitiesinclude shaft options, second ramp, conveyors etc)
Should Phase 1 provide economics for an expansion, then Phase 2(end 2015/early 2016) would consist of advancing the topscenario to a PEA level.
Copyright 2015 by Richmont MinesTSX - NYSE MKT: RIC7474
Island Gold MineMilling and Mining Studies
SVP vérifier, clarifier ouajouter de l’info
Island Gold MineMine Productivity Opportunities
• Reduce dilution levels at lower depthsAverage width is 4.5 metres versus 2.7 metres in upper mine
• Reduce operating and non-operating delaysEquipment travel time, usage and productivity rates beingevaluated
• Implement Performance Management (dashboard)
• Cost savings opportunity in procurement area
• Evaluating different mining methods
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