January 2015 Presentation

Copyright 2014 by Richmont Mines

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Safe harbor statement & cautionary note to U.S. investors concerning resource estimates

This presentation contains forward-looking statements that include risks and uncertainties. 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-U.S. 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 detailed from time to time in Richmont Mines Inc.’s periodic reports and annual notice.

The resource estimates in this presentation were prepared in accordance with Regulation 43-101 adopted by the Canadian Securities Administrators. The requirements of Regulation 43-101 differ significantly from the requirements of the United States Securities and Exchange Commission (the “SEC”). In this presentation, we use the terms “Measured”, “Indicated” and “Inferred” Resources. Although these terms are recognized and required in Canada, the SEC does not recognize them. The SEC permits U.S. mining companies, 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 determination has been made that the mineralization could be economically and legally extracted at the time the determination is made. United States investors should not assume that all or any portion of a Measured or Indicated Resource will ever be converted into “Reserves”. Further, “Inferred Resources” have a great amount of uncertainty as to their existence and whether they can be mined economically or legally, and United States investors should not assume that “Inferred Resources” exist or can be legally or economically mined, 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.

TSX - NYSE MKT: RIC Copyright 2015 by Richmont Mines


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Corporate Overview

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RIC: (Jan. 15, 2015) TSX + (CAN$) NYSE MKT (US$)

Closing Price $4.05 $3.37

52-week trading range $1.21 - $4.39 $1.11 - $3.68

Market capitalization $194 million $161 million

Average 3 month daily trading volume (shares) ~ 167,600 ~ 370,800

Cash & Term Deposits &GIC (Dec 31, 2014) ~$35 million

Long-term Debt (Dec 31, 2014) <$6 million

Current Enterprise Value $165 million

9 Month 2014 Operating Cash Flow $0.55 / share

9 Month 2014 Net Free Cash Flow1 $0.13 / share

Shares outstanding (millions) 47.9

Management and Director Ownership (%) ~11%

Number of employees (September 30, 2014) 385


(1) Calculated as operating cash flows less capital expenditures divided by shares outstanding.


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Highlights

Transformational, Low Risk Asset Being Developed in Ontario

1.1 million ounce global resource below operating Island Gold Mine, grade of 9.6 g/t Au

Track Record of Sustainable Gold Production

1.5+ million Au ounces produced over 20+ years

2014: 94,503 Au ounces sold

2015 forecast: 78,000–88,000 Au ounces (with open-pit Monique Mine contribution lower year-over-year due to planned end of mining)

Quality Asset Base & Strong Balance Sheet

Operating mines in low-risk jurisdictions: Ontario and Quebec

~$35 million of cash & term deposits, debt < $6 million, at Dec. 31, 2014

47.9 million shares on TSX - NYSE MKT


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2015 Guidance & Budget



GOLD SALES (OUNCES) SUSTAINING CAPITAL EXPENDITURES (CAN$ M)

2014 – Actual 94,503 Fixed assets/equipment $13.7

2015 – Forecasted 78,000 – 88,000 Delineation drilling $0.7

Mine development $12.5

COST/OUNCE (CAN$) Total Sustaining Capex $26.9

Cash cost $935 - $1,035

2015 Sustaining Capex $305 - $345 PROJECT & EXPLORATION COSTS (CAN$ M)

Reclam. & remed. – Quebec $10 - $15 Total exploration – Quebec $1.8

Corporate G&A $85 - $95 Exploration - Island Gold $5.2

AISC (1)/oz $1,335 - $1,490 Fixed assets/equipment $1.8

Acc. mine development - Island Gold(3) $17.4

Cash cost/oz (US$) (2) $850 - $940 Acc. delineation drilling - Island Gold $2.2

AISC/oz (US$) (2) $1,215 - $1,355 Mining & milling studies - Island Gold $1.0

Total Project & Exploration Costs $29.4

(1) AISC = All-In-Sustaining-Cost, a non GAAP measure. (2) Assuming exchange rate of CAN$1.00 = US$0.91 (US$1.00 = CAN$1.10). (3) Includes cost of the exploration drift and some exploration drilling.


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Current Operations

Island Gold Mine

2014: 42,079 Au ozs sold 2015F: ~ 45,000-50,000 Au ozs

On-site 850 tpd mill


Wawa Area

Val-d’Or Area

Beaufor Mine Property Monique Mine

2014: 52,425 Au ozs sold (1)

2015F: ~ 33,000 - 37,000 Au ozs

1,200 Tpd Camflo Mill (50 km away)

Ontario Quebec

(1) Includes 4,929 ounces of gold sold from the W Zone.


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Island Gold New Discovery A “Game-Changer”

TSX - NYSE MKT: RIC 7 Copyright 2015 by Richmont Mines

Upper Mine New Zone

Gold grade (average) 5.7 g/t Au 9.6 g/t Au

Zone width (average) 2.7 metres 4.5 metres

Structural Alteration Corridor 50 metres 100 metres

1.1 million ounce high-grade global resource immediately below fully permitted, staffed and operating Island Gold Mine in Ontario

Indicated resource: 455,000 tonnes @ 11.52 g/t , 169,000 Au ozs Inferred resources: 3.2 M tonnes @ 9.29 g/t, 955,000 Au ozs

Ramp access and initial development already achieved, with ~30% of the tonnes milled in 2015 expected to originate from stopes in deeper zone

2015 accelerated development positioning mine to be a longer-life, lower-cost operation with higher annual production levels

Capacity of on-site 850 tpd CIP mill can be increased

Deposit open at depth and along strike in both directions


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320,000+ oz gold produced since 2007

2014 production: 42,079 Au ozs

2015F production: 45,000–50,000 Au ozs

Historical grade ~ 5.7 g/t Au

New deeper zone grade ~ 9.6 g/t Au

Cash Cost US$816/oz for 9 mos./14

Island Gold Mine Cornerstone Asset – 100% Owned

ISLAND GOLD MINE PERFORMANCE

FY 2009 12 months

ended Dec. 31

FY 2010 12 months

ended Dec. 31

FY 2011 12 months

ended Dec. 31

FY 2012 12 months

ended Dec. 31

FY 2013 12 months

ended Dec. 31

9 mos. 2014 9 months

ended June 30

Tonnes 211,773 251,237 261,731 246,743 244,631 184,827

Gold recovery (%) 94.5% 95.5% 95.9% 96.5% 96.1% 96.5%

Head grade 6.04 g/t 5.95 g/t 6.10 g/t 5.45 g/t 4.65 g/t 5.76 g/t

Gold ounces sold 38,879 45,865 49,196 41,686 35,113 33,027

Avg. cash cost/oz (US$)1

736 783 766 884 1,092 816

Avg. sales price/oz (US$) 967 1,238 1,566 1,666 1,392 1,289


(1) Cash costs include royalties.


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2015 Island Gold Budget



GOLD SOLD (OUNCES) SUSTAINING CAPITAL EXPENDITURES (CAN$M)

2014 – Actual 42,079 Fixed assets/equipment $10.7

2015 – Forecasted 45,000 – 50,000 Delineation drilling (11,125 m) $0.7

Mine Development $9.3

COST / OUNCE (CAN$) Total Sustaining Capex $20.7

Cash cost/oz $935 - $1,035 PROJECT & EXPLORATION COSTS (CAN$M)

2015 Sustaining Capex $415 - $460 Underground Exploration (41,000 m) $3.2

AISC(1)/oz $1,350 - $1,495 Surface Exploration (20,000 m) $2.0

Fixed assets/equipment $1.8

Cash cost/oz (US$) (2) $850 - $940 Accelerated Mine Development work(3) $17.4

AISC(1)/oz (US$) (2) $1, 230 - $1,360 Acc. Delineation Drilling (33,375 m) $2.2

Mining & Milling Studies $1.0

Total Project & Exploration Costs $27.6

(1) AISC = All-In-Sustaining-Cost, a non GAAP measure. (2) Assuming exchange rate of CAN$1.00 = US$0.91 (US$1.00 = CAN$1.10). (3) Includes cost of exploration drift on 620 m level of the mine, and some exploration drilling.


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Island Gold Mine Location Map

Lake Superior

Marathon

White River

17

25 km

Proterozoic Plutonic and Volcanic Rocks Archean Granitoid Plutons Archean Metasedimentary Terranes Archean Greenstone Terranes Fault Past Gold Producer

Gold Producer

HEMLO

ISLAND GOLD MINE

RENABIE

EDWARDS

EAGLE RIVER

MISHI


Argonaut – Magino (~5.2 m ozs @1.03 g/t)

MAGINO


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Stockpiles

Stora ge

Scrap

Island Gold Mine Site Map and Infrastructure

Tailing pond

Portal Main Ramp

Mill

ISLAND GOLD MINE

Lochalsh Zone

Office Core Shack

Waste pad A

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Richmont / Argonaut 0.5 km

KREMZAR MINE 306,000 T at 4.8 g/t Au 47,000 Au ozs

MAGINO OPEN PIT (resource) ~130 MT at 1.03 g/t Au 5.2 million Au ozs


Goudreau Zone

MAGINO MINE 803,000 T at 4.4 g/t Au 114,000 Au ozs


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Island Gold Mine Longitudinal Section

190 Level

Crown pillar

W E

- 1,000 m

- 500 m

GOUDREAU LOCHALSH ISLAND EXT1 EXT2

Island Deep 1.1 million ounce resource (at Dec. 31/13)

Indicated 456,000 t at 11.52 g/t Au 169,000 ozs Inferred 3,200,000 t at 9.29 g/t Au 955,000 ozs

Open

Open

Production to Date (above 400 m)

303,000 ozs of gold, avg. 5.7 g/t Au Reserves & Resources (at Dec. 31/13)

Proven & Probable: 143,506 ozs @ 6.09 g/t Measured & Indicated: 64,433 ozs @ 7.06 g/t Inferred resources: 82,744 ozs @ 7.09 g/t

• Significant number of > 12 g/t Au intersections over min 2.0 m • Open along strike in both directions and at depth

Open


Drillhole Intersections > 12g/t Au (cut 95g minimum 2 m true width)

Drillhole Intersections

Reserves / Resources

Mined Out

Actual Ramp and Drifts

Interpreted Axis of Plunge


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13 TSX - NYSE MKT: RIC 13 Copyright 2015 by Richmont Mines

Island Gold Mine Goals for 2015

Accelerate development & commence mining in new zone Extend main ramp to minimum 750 m depth Lengthen secondary ramp to a minimum 570 m depth Build out underground infrastructure Prepare stopes & commence mining

Upgrade inferred resources to reserves through infill drilling;

Expand resource and determine deposit size to optimize long-term mine plan through additional exploration drilling;

Continue to build up strong team at mine site to manage and deliver on development goals & production expansion;

Expand/upgrade equipment and infrastructure at mine site, as needed, to support expanded production.


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Total 2015 Capex of $48.3 M

Includes $27.6 M of project and exploration costs:

41,000 metres of underground exploration drilling $3.2 million

20,000 metres of surface exploration drilling $2.0 million

Fixed assets $1.8 million

Acc. mine development work * $17.4 million

Acc. delineation drilling $2.2 million

Mining & milling studies $1.0 million

TOTAL: $27.6 million

Our objective: to transform Island Gold into a long-life, high production and low cost operation, able to potentially deliver years of industry-leading high-quality growth from a mining-friendly and safe jurisdiction.


Island Gold Mine Transformational Development Plans in 2015

* Includes 620 m level exploration drift, and some exploration drilling.


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Contractor hired in November 2014 to:

Extend ramp from current 650 m depth, to min. depth of 750 m in 2015

Advance secondary (east) ramp from 440 m to min. 570 m depth in 2015

Complete 600 m exploration drift to the east on 620 m level for definition, delineation & exploration drilling in the eastern portion of the resource

59,000 m definition/delineation drilling

To define and delineate resource between -500 m and -1,000 m

61,000 m of exploration drilling

41,000 m (underground drilling) to test eastern down-plunge between depths of 500 m and 1,000 m

20,000 m (surface drilling) to test areas closer to surface toward the western property boundary and to the east of the existing surface


Island Gold Mine Focus on Accelerated Growth


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Island Gold Mine New Zone - Higher Grades and Widths

Crown pillar

W E

- 1,000 m

- 500 m

LOCHALSH ISLAND EXT1 EXT2

Cut off (3.75 g/t Au / 2.0 m) Interpreted Axis of Plunge

327

30

20

10

5

0


Metal Factor Grade (g/t Au) x true width (metres)

Average mining grade (5.84 g/t Au / 2.4 m)

Strong positive reconciliation

in early sill sampling

1. 535 Level : 12.68 g/t Au / 2.51m along 120 m




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Island Gold Mine 2015 Mining Plan

190 Level

Crown pillar

W E

- 1,000 m

- 500 m



Ramp (from 650 to 750m) 1,261 m

Ore Sill 1,495 m

620m Exploration Drift 450 m

West Dev. (-400 m) East Dev. (-400 m)

Mined out

Reserves – Resources 31/12/2013


2015 Planned Ramp and Drift Development

Conceptual Development

2015 Planned Ore Development

2015 Stoping

Ramp (from 450 to 570m) 1,604 m

Ore Sill 1,472 m

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Island Gold Mine 2015 Planned Definition & Delineation Drilling

190 Level

Crown pillar

W E

- 1,000 m

- 500 m



Delineation 44,500m

Definition 14,500m

2015 Planned drilling

2015 Planned Ramp and drifts Development

Conceptuel Development

2015 Planned Ore Development

2015 Stoping

Mined out

Reserves – Resources 31/12/2013


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Island Gold Mine 2015 Planned Exploration Drilling

190 Level

Crown pillar

W E

- 1,000 m

- 500 m



Underground exploration 41,000 m

Surface exploration 20,000 m

2015 Planned drilling

Mined out

Reserves – Resources

31/12/2013


400-528-09

7.44 / 8.49

400-528-10

4.44 / 6.07 400-528-10

4.79 / 2.87

GD-14-01C

19.87 / 3.93

C Zone Intersections (Au cut 95 g/t)

Au g/t / true thickness (metres)

2015 Exploration drift

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Relative Grade Among Highest Grades in Peer Group


(1) Source: Company reports

0 2 4 6 8 10 12 14 16 18 20

Holloway Mine (St. Andrew Goldfields)

Timmins West Mine (Lakeshore)

Bell Creek Mine (Lakeshore)

Casa Berardi (Hecla)

Seabee Gold (Claude)

Rice Lake Mine (San Gold)

Lapa (Agnico Eagle)

Island Gold (Richmont)

Beaufor Mine (Richmont)

Eagle River (Wesdome)

Island Deep (Richmont)*

Macassa (Kirkland Lake)

Reserve Grade1 (g/t gold)

* Indicated Resource


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Island Gold Mine Developing for the Future

• Ramp access

• Initiated development

• New equipment purchased

• Efficiency consultant

• Lowered costs

• Increased production

2014

2015 Goals

• Extend main ramp to minimum 750 m depth

• Extend 2nd ramp to minimum 570 m depth

• Build out underground infrastructure

• Start mining in new zone

• Upgrade inferred resources (infill drilling)

• Increase resource base

L-T Objectives

• Increase R & R base

• Expand free cash flow visibility

• Create longer-life, multi-million ounce, higher production and lower cost gold mine within a mining friendly and safe jurisdiction.


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Quebec Assets Beaufor Mine, Monique Mine & Camflo Mill

Camflo Mill

Quebec Assets: 2014 gold sales : 52,425 ounces 2015 forecasted gold sales: 33,000 – 37,000 ounces Operations strategically located near infrastructure

50 km from Camflo Mill & 25 km from Val-d’Or, QC Objective: maintain free cash flow positive status

Beaufor Mine: High-grade underground mine in production since 1996 (500,000+ Au ozs produced) First 9 months of 2014: cash cost/oz US$868

Monique Mine: Small open-pit with a planned short mine life Mining will end Feb/15, stockpile will be milled

through 2015 First 9 months of 2014: cash cost/oz US$953


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2015 Quebec Budget



GOLD SALES (OUNCES) SUSTAINING CAPITAL EXPENDITURES (CAN$ M)

2014 – Actual (1) 52,425 Beaufor – Mine development $3.3

2015 – Forecasted 33,000 – 37,000 Beaufor – Fixed assets $0.8

Camflo Mill – Fixed assets $2.1

COST/OUNCE (CAN$) Total Sustaining Capex $6.2

Cash cost $935 - $1,035

2015 Sustaining Capex $170 - $190 EXPLORATION COSTS (CAN$ M)

Reclamation & remediation $20 - $40 Exploration drilling Beaufor (18,200m) $1.3

AISC (2)/oz $1,125 - $1,265 Regional exploration – Quebec properties $0.5

Total Exploration Cost $1.8

Cash cost/oz (US$) (3) $850 - $940

AISC/oz (US$) (3) $1,020 - $1,150

(1) Includes 4,929 ounces of gold sold from the W Zone. (2) AISC = All-In-Sustaining-Cost, a non GAAP measure. (3) Assuming exchange rate of CAN$1.00 = US$0.91 (US$1.00 = CAN$1.10).


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Beaufor Mine Progress Report

49,196 oz

49,196 oz 41,686 oz

2014 Achievements:

Maintained operating efficiency to generate cash flow in 2014

Continuing to extend mine life

Mining the newly developed “M Zone” which has solid grades and additional tonnage

Commenced development drift to the near surface 350 zone in 2014

Evaluating potential of Q Zone (decision expected Q1 2015)

2015 Drilling Plans:

18,200 m of exploration drilling

11,800 m of definition drilling


Mining and Development Exploration


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800

600

400

800

1000

200

600

1175

1350

400

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Horne-Creek fault

Resources as of December 31, 2012 Cut-off: 1.5 g/t Au

Measured & Indicated Resources: 15,251,529 T at 2.86 g/t Au ; 1,402,263 ozs

Inferred Resources: 18,758,786 T at 2.66 g/t Au ; 1,605,388 ozs

Wasamac Gold Property “Untapped” 3 Million oz Resource

Near infrastructure: 15 km west of Rouyn-Noranda, Quebec

Past production of 252,923 Au ozs @ 4.16 g/t (1965-1971)

Preliminary Economic Assessment completed in March 2012

Good optionality on gold price

100% owned, no royalties



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Island Gold – Transformational New Discovery

Opportunity to transform the mine into a longer-life, higher-production and lower cost operation with a relatively low investment

Potential to deliver years of industry-leading high-quality growth from a mining-friendly and safe jurisdiction

Sound Balance Sheet, Tight Capital Structure

~$35 million cash & term deposits (Dec 31st, 2014) $8.3 million adjusted Net Earnings and operating cash flow of $24.2 million in

first 9 months of 2014 47.9 million shares outstanding

Track Record of Success

Consistent operating history plus continued organic growth Over 1.5 million ounces of gold produced in the Corporation’s 20+ year history

Quality Asset Base in Safe Jurisdictions

Expected production of 78,000 - 88,000 ounces of gold for 2015 Global gold resource of over 5 million ounces in very stable jurisdictions

Richmont Mines Well Positioned for Growth



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Renaud Adams, Eng. President & CEO [email protected] 514-397-1410 x 103 Jennifer Aitken, MBA Manager, Investor Relations [email protected] 514-397-1410 x101


Richmont Mines Inc.

mailto:[email protected]







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Veteran Operator Numerous Successful Mine Openings & Closings


1991 1993 1997 2001

2007 2013

Island Gold Mine

Francoeur Mine

Monique Mine

2001

Camflo Mill Beaufor Mine Nugget Pond Mine

2006

East Amphi Mine Hammerdown Mine

2006 – 2007 production ~ 37,350 Au ozs produced

2001 - 2004 production: ~ 143,500 Au ozs

In operation: 320,000+ Au ozs produced to date

In operation: 23,490 Au ozs produced in 2014

In operation: 500,000 + Au ozs produced to date

Mill in operation: Processes ore from Beaufor & Monique

1991-2001 production: ~345,000 Au ozs

1998-2001 production: ~170,000 Au ozs

http://www.google.ca/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&docid=UgcJSJbkV_abXM&tbnid=jAdCHVsqLWW5VM:&ved=0CAUQjRw&url=http://www.bullmarketrun.com/?p=7792&ei=ZsreU5aPEc6lyAS9xIGYAw&bvm=bv.72197243,d.aWw&psig=AFQjCNEFLhNbVmhd6N0hYY-OctdMu1rb8A&ust=1407196127356126

http://www.google.ca/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&docid=PZlzXGYdIgsL0M&tbnid=HqGzY_wVxL6UaM:&ved=0CAUQjRw&url=http://www.budget.gov.nl.ca/budget2000/economy/mining.htm&ei=6s_eU83UM8SeyASb8oKIDg&bvm=bv.72197243,d.aWw&psig=AFQjCNEE-Zj5aKI-Lhm1KmgyOTpm82SHDA&ust=1407197542542236


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BOARD OF DIRECTORS

Greg Chamandy, Exec Chairman Co-Founder and Former CEO of Gildan Activewear

Elaine Ellingham, P. Geo., MBA Previously TSX, IAMGOLD, Campbell Resources, Rio Algom,

René Marion, Eng. Former CEO AuRico Gold

Michael Pesner, CA President of Hermitage Canada Finance, previously KPMG

Renaud Adams, Eng. President & CEO

Directors and Management Senior Credentials in a Junior


MANAGEMENT TEAM

Renaud Adams, Eng. President & CEO

Rosaire Émond, Eng. V. P. and COO - Experience: Placer Dome and Agnico-Eagle

Daniel Adam, Geo., PhD V. P. Exploration - Experience: Selbaie Mines

Nicole Veilleux, CPA, CA V.P. Finance - Experience: Auditor at KPMG LLP, Norbord Industries

Jean Bastien, Eng., MBA Manager, Island Gold Mine - Experience: Cambior, Agnico-Eagle, Aurizon

Marc-André Lavergne, Eng. Manager, Beaufor & Monique mines - Experience: Cambior, Agnico-

Eagle, North American Palladium


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0

1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

6,000,000

2006 2007 2008 2009 2010 2011 2012 2013

Ou

nce

s o

f G

old

Proven and Probable Au Ounces

Measured + Indicated Au Ounces

Inferred Au Ounces

Discovered over 4 million ounces of gold resources in past 4 years

Exploration on brownfield project and at operating mines

Discovery cost < $15/ounce Island Gold Deep Zone 1.1 million oz @ 9.6 g/t Wasamac 3.0 million oz @ 2.70 g/t

Additions to Board & Management

Creating Shareholder Value Two Significant Discoveries


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Financial Review

Key Metric (in CAN$ thousands, ex. per share data and where noted)

FY 2012 (12 mos. ended

Dec. 31)

FY 2013 (12 mos. ended

Dec. 31)

Q1 2014 (3 mos. ended

Mar. 31)


June 30)


Sept. 30)

Gold sales (ounces) 60,741 63,443 20,412 27,790 24,635

Average selling price (US$/oz) $1,666 $1,378 $1,306 $1,283 1,273

Average cash cost (US$/oz) $1,044 $1,095 $1,060 $779 $804

Net earnings (loss) ($2,977) ($33,162) ($1,903) $4,676 $4,369

Adjusted net earnings (loss) ($1,521) 1 ($10,341) 2 ($1,903) $5,659 3 $4,574 3

Adjusted EPS ($0.04) 1 ($0.26) 2 ($0.05) $0.12 3 $0.10 3

Operating Cash Flow $7,656 $3,456 $2,379 $13,371 $8,428

Total Assets $148,244 $123,328 $121,272 $139,135 $145,121

Shareholders Equity $118,363 $86,353 $84,779 $100,739 $105,717

(1)FY2012 Adjusted Net Loss is a non-IFRS Financial Performance Measure. This number excludes a $49,066 ($42,038 after-tax) loss from the discontinued Francoeur Mine operation, and the payment of $1,986 ($1,456 after-tax) of severance compensation to the Corporation’s ex-President and CEO. (2)FY2013 Adjusted net loss is a non-IFRS Financial Performance Measure. This number excludes a $1,098 loss from the discontinued Francoeur Mine operation, a write-down of the W Zone Mine of $13,472, a write-off of deferred income and mining tax assets of $7,484, a write-off of financing costs of $1,165 and severance costs of $700. (3)Q2 2014 and Q3 2014 Adjusted net earnings are a non-IFRS Financial Performance Measure. The Q2 2014 number excludes a $1,050 severance cost related to the departure of the President and CEO, and the Q3 2014 number excludes $205 severance cost related to the departure of the Executive Vice-President and CFO.



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FINANCIAL HIGHLIGHTS 9 months 2014 ( 9 mos ended Sept30, 2014)

Q3 2014 (3 mos. ended Sep. 30, 2014)

Gold sales 72,837 ozs 24,635 ozs

Average cash cost per ounce US $866 US $804

Average selling price per ounce US $1,285 US $1,273

Revenue $102.6 million $39 million

Operating Cash Flow $24.2 million $8.5 million

Net Free Cash Flow $5.6 million $0.6 million

Long-term debt $5.2 million $5.8 million

Adjusted Earnings per share

$0.19 $0.10

1

Operating cash flow per share

$0.55 $0.18

(1) Q3 2014 EPS is Adjusted EPS, a non-IFRS Financial Performance Measure, and excludes severance costs related to the departure of the Executive Vice-President and CFO of $0.2 million.


Positive Momentum Strong Q3 2014 Revenue & Operating Cash Flow


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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 Dec. 31/13, using a gold price of US$1,225/oz and an exchange rate of CAN$1.06=US$1.00 in 2013 (a US$1,450/oz gold price and a 1.00 exchange rate were used in 2012). Island Gold Deep Resources established Jan. 21/14. (3) Open-pit Reserves are based on a pit design established in 2012. Indicated Resources are underground, directly beneath the open-pit. (4) Underground Resources established as of Dec. 31/12. (5) Francoeur Mine closed in November 2012.

RESERVES + RESOURCES1

AS OF DEC. 31, 2013 AS OF DEC. 31, 2012

Tonnes (metric)

Grade (g/t Au)

Au oz contained

Tonnes (metric)

Grade (g/t Au)

Au oz contained

Island Gold Mine2

P & P Reserves 733,347 6.09 143,506 785,221 5.60 141,456

M & I Resources 283,687 7.06 64,433 502,910 6.86 110,958

Inferred Resources 362,858 7.09 82,744 279,569 6.20 55,744

Island Deep2 Indicated Resources 456,013 11.52 168,897 - - -

Inferred Resources 3,196,114 9.29 954,583 1,473,658 10.73 508,142

Beaufor Mine2

P & P Reserves 142,299 6.81 31,133 196,145 6.20 39,114

M & I Resources 765,144 6.32 155,439 774,280 6.44 160,263


Monique2,3

P & P Reserves 415,860 2.30 30,702 - - -

Indicated Resources 107,531 4.88 16,858 728,164 2.35 55,112

Inferred Resources - - 11,605 0.97 362

W Zone

P & P Reserves 70,207 5.68 12,832 132,251 7.21 30,680

M & I Resources 145,931 7.04 33,051 107,511 6.76 23,377

Inferred Resources 2,186 7.55 531 5,589 7.95 1,429

Francoeur5

Proven Reserves - - - 8,439 4.52 1,226

M & I Resources 320,066 6.47 66,587 320,066 6.47 66,587


Wasamac4 M & I Resources 15,251,529 2.86 1,402,263 15,251,529 2.86 1,402,263

Inferred Resources 18,758,786 2.66 1,605,388 18,758,786 2.66 1,605,388

TOTAL GOLD

P & P Reserves 1,361,713 4.98 218,172 1,122,056 5.89 212,476

M & I Resources 17,329,901 3.42 1,907,528 17,684,460 3.20 1,818,560

Inferred Resources 23,242,142 3.80 2,836,060 21,448,724 3.43 2,362,474

33


TSX - NYSE MKT: RIC

34

Island Gold Mine Established Base for Future Growth

TSX - NYSE MKT: RIC

49,196 oz

Gold Production*

0

500

1,000

1,500

2,000

0

10,000

20,000

30,000

40,000

50,000

60,000

2009 2010 2011 2012 2013 2014 2015E

US$

/ O

un

ce

Ou

nce

s

Ounces of gold sold Cash cost per ounce Selling price


34

*2014 Cash Costs not yet publicized

9M 2014 Cash Cost = US$816/oz


TSX - NYSE MKT: RIC

35 TSX - NYSE MKT: RIC Copyright 2015 by Richmont Mines

S N Crown

Pillar

-900 m

Shear Corridor

100 m wide

535 Level

Zone

Composite Longitudinal Section

Typical Section

-1,300 m

-500 m

Surface

Indicated resources:

456,000 t at 11.52 g/t Au; 169,000 oz

Inferred resources:

3,200,000 t at 9.29 g/t Au; 955,000 oz

Island Gold New Resource below 400 m

(Dec. 31/2013)

Island Gold Cross Section

(looking west)

Currently at - 635 m depth

35

Ramp access from surface

Island Gold Mine

Structural flexure with wider zones and higher

grades below