DAILY NEWS Nov 22, 2012 3:59 PM - 0 comments

GOLD: Drilling at Island Gold mine confirms potential at depth

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2012-11-22

ONTARIO – Richmont Mines of Montreal says recent drilling at its Island Gold mine 80 km northeast of Wawa confirms the potential of the property at depth. Highlights from the C zone include (cut grades over true widths) 26.09 g/t Au over 9.55 metres; 10.29 g/t over 5.19 metres; and 10.40 g/t over 5.06 metres.

Richmont president and CEO Paul Carmel commented, : "These results reaffirm our preliminary assessment that the C zone appears to be an extension at depth of the zone currently being mined closer to surface at Island Gold. The latest results continue to demonstrate good continuity of the zone, with improved grades over what we are experiencing in our current operations."

The company plans to complete an initial 43-101 estimate for C zone in Q1 2013. Meanwhile, sinking a shaft is under consideration to speed up underground exploration of the zone.

Visit Richmont-Mines.com for more information about Island Gold or the company's other projects.

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