Richmont Mines Provides Delineation and Phase 2 Exploration Drilling Update for Island Gold

Toronto (ots/PRNewswire) - Delineation Drilling Continues to Demonstrate Significant Potential to Convert High Grade Inferred Resources within the 2016 PEA Area

Richmont Mines Inc. (TSX: RIC) (NYSE MKT: RIC) ("Richmont" or the "Corporation"), is pleased to provide an update on delineation drilling within the expanded 2016 Preliminary Economic Assessment ("PEA") area as well as initial results from the strategic Phase 2 exploration drilling program at the cornerstone Island Gold Mine. (All results are reported with estimated true width with high grade assays capped at 95 g/t gold).

"We are very pleased with the results from our near-mine exploration and delineation drilling programs as the results clearly demonstrate the significant potential to grow our near-mine reserve inventory and identify new resource blocks located within the 2016 PEA area. These ounces could extend mine life above the 1,000 metre level and be incorporated into the near-term mine plan utilizing current infrastructure," stated Renaud Adams, CEO. He continued, "We are also reporting initial results from our recently launched 18 to 24 month Phase 2 exploration program that continues to show the potential to increase resources laterally along strike, primarily to the east, and at depth below the 1,000 metre level."

2016 PEA DELINEATION DRILLING PROGRAM (Figure 1
(http://files.newswire.ca/1459/Figure_1_Eng.pdf) )

Delineation drilling is focused in three key areas: 1) the western portion of the 2016 PEA area between the 460 and 860 metre levels; 2) the potential fourth mining horizon between the 860 and 1,000 metre levels; and 3) the eastern portion of the 2016 PEA area, within Extensions 1 and 2, east of the first dyke.

Approximately 41,947 metres of delineation drilling have been completed to date. Drill results continue to provide increased confidence that a significant portion of the inferred resources located in the 2016 PEA area could potentially be converted to measured and indicated resources by year end, which could be incorporated into the short-term mine plan and support a potential near-term growth opportunity. Currently, two drill rigs continue to operate from the 740 exploration drift and one from the 620 exploration drift to complete the 50,000 metre delineation drilling program planned for 2016.

Recent drilling highlights from the western portion of the 2016 PEA area, between the 460 and 860 metre levels, include (Table 1 and Table 2):

  • Hole 450-467-54: 28.26 g/t gold over 2.56 metres
  • Hole 450-467-61A: 24.08 g/t gold over 3.70 metres
  • Hole 740-477-01: 11.91 g/t gold over 8.11 metres
  • Hole 740-477-02: 18.63 g/t gold over 7.28 metres
  • Hole 740-477-03: 20.92 g/t gold over 9.69 metres
  • Hole 740-477-04: 9.91 g/t gold over 12.00 metres
  • Hole 740-477-05: 25.61 g/t gold over 7.81 metres
  • Hole 740-483-02: 11.69 g/t gold over 11.28 metres
  • Hole 740-483-04: 13.46 g/t gold over 9.28 metres

Recent drilling highlights from the potential fourth mining horizon, between the 860 and 1,000 metre levels, include (Table 2 and Table 3):

  • Hole 620-517-44: 16.12 g/t gold over 16.46 metres
  • Hole 740-471-10: 33.51 g/t gold over 2.22 metres

Recent drilling highlights from the Extension 1 and Extension 2 areas of the eastern portion of the 2016 PEA area, above the 860 level, include (Table 4 and Table 5):

  • Hole 620-524-35: 8.12 g/t gold over 3.83 metres
  • Hole 620-524-36: 6.09 g/t gold over 8.49 metres
  • Hole 620-538-01: 5.98 g/t gold over 2.52 metres
  • Hole 620-548-01: 5.31 g/t gold over 3.31 metres
  • Hole 620-548-02: 8.93 g/t gold over 2.27 metres
  • Hole 620-548-03: 6.13 g/t gold over 3.13 metres

PHASE 2 EXPLORATION PROGRAM (Figure 2
(http://files.newswire.ca/1459/Figure_2_Eng.pdf) )

The 18 to 24 month, 142,000 metre Phase 2 exploration drilling program that was launched in July continues to focus on four key priorities: 1) to expand near-mine resources within the 2016 PEA limits of the main deposit; 2) continuing to test the lateral continuity of the known deposit to the east to potentially add new resource blocks with the overall objective of extending mine life above the 1,000 metre level; 3) to identify the next million-plus ounce, high grade inferred resource in the vertical extension of the deposit between the 1,000 and 1,500 metre levels; and 4) continuing to test high priority regional gold targets across the prospective Island Gold property.

Near-Mine Exploration Drilling Program (Figure 3
(http://files.newswire.ca/1459/Figure_3_Eng.pdf) )

The main objective of the near-mine exploration drilling program is to expand near-mine inferred resources within the 2016 PEA area by infilling gaps between current inferred resource blocks.

Approximately 10,232 metres of a planned 22,000 metres for 2016 have been completed with encouraging results received to date, which increases our confidence for resource expansion within the 2016 PEA area. Currently, one drill rig is operating from underground with a second drill to be mobilized later in October.

Recent drilling highlights from the western portion, between the 740 and 860 metre levels, include (Table 2):

  • Hole 740-477-06: 13.88 g/t gold over 7.52 metres
  • Hole 740-477-07: 5.03 g/t gold over 8.11 metres
  • Hole 740-477-08: 6.13 g/t gold over 10.65 metres
  • Hole 740-483-03: 17.69 g/t gold over 8.33 metres
  • Hole 740-483-17: 31.53 g/t gold over 2.56 metres
  • Hole 740-486-06: 11.97 g/t gold over 4.49 metres

Recent drilling highlights from the potential fourth mining horizon, between the 860 and 1,000 metre levels, include (Table 3):

  • Hole 620-517-41: 12.60 g/t gold over 3.96 metres
  • Hole 620-517-42: 12.47 g/t gold over 3.36 metres
  • Hole 620-517-43: 35.21 g/t gold over 10.87 metres
  • Hole 620-524-27: 29.15 g/t gold over 4.44 metres

Recent highlights from the Extension 1 and Extension 2 areas, located in the eastern portion, above the 860 metre level and east of the first dyke include (Table 4 and Table 5):

  • Hole 620-524-24: 9.42 g/t gold over 3.16 metres
  • Hole 620-524-26: 5.91 g/t gold over 4.10 metres
  • Hole 620-524-28: 15.56 g/t gold over 4.30 metres
  • Hole 620-524-37: 13.65 g/t gold over 3.10 metres
  • Hole 620-543-38: 20.21g/t gold over 2.37 metres
  • Hole 620-543-43: 10.65 g/t gold over 5.43 metres
  • Hole 620-543-47: 10.85 g/t gold over 2.59 metres
  • Hole 620-543-53: 8.34 g/t gold over 2.36 metres

Eastern Lateral Exploration and Infill Drilling Program (Figure 4
(http://files.newswire.ca/1459/Figure_4_Eng.pdf) )

A key objective of the Phase 2 eastern lateral drilling program is to add a new resource block where Phase 1 drilling intercepted 33.3 g/t gold over 2.6 metres located approximately 300 metres east of the main deposit, outside the 2016 PEA area.

Approximately 3,833 metres of a planned 9,000 metres (including 3,000 metres of infill drilling) for the second half of 2016 have been completed to test the lower portion of this mineralized area. Drilling in the upper portion as well as the eastern extension of the mineralized area will be completed over the balance of the year. Currently, one drill rig is operating from surface to test the eastern extension and one drill operating from underground will be mobilized in mid-October.

Recent highlights include (Table 6):

  • Hole GD-586-01: 4.02 g/t gold over 3.56 metres
  • Hole GD-586-02A: 10.41 g/t gold over 2.06 metres

Deep Exploration Drilling Program Highlights: (Figure 5
(http://files.newswire.ca/1459/Figure_5_Eng.pdf) )

The 2016 deep directional exploration drilling program is to test the eastern and western down plunge corridors between the 1,000 and 1,500 metre levels with the overall objective of discovering the next million-plus ounces of high-grade inferred resources. In the western area, new parallel zones located south of the main mineralized zones were intercepted and we are currently compiling and interpreting the geological data. Additional drilling is required to better understand the structural geology at depth, however these new zones increase the overall potential of the down plunge extension, providing new high quality targets for follow up drilling.

Approximately 6,360 metres of a planned 22,000 metres for 2016 have been completed to date. Drilling in the third quarter was slower than planned as deeper targets were being tested. A seventh drill was mobilized in late September to help accelerate drilling over the balance of the year.

Recent highlights from exploration drilling include (Table 7):

  • Hole MH2A-4: 5.66 g/t gold over 6.38 metres
  • Hole MH3-7: 8.41 g/t gold over 5.60 metres
  • Hole MH4-2: 5.14 g/t gold over 3.32 metres (new parallel Zone)
  • Hole MH4-3A: 17.77 g/t gold over 4.81 metres (new parallel Zone)
  • Hole MH5: 7.11 g/t gold over 2.23 metres (G1 Zone) 3.89 g/t gold over 2.54 metres (new parallel Zone)
  • Hole MH1-9A: 26.56 g/t gold over 0.82 metres (X Zone)

Deep Infill Drilling Program Highlights: (Figure 5
(http://files.newswire.ca/1459/Figure_5_Eng.pdf) )

The objective of the deep infill drilling program is to define a potential inferred resource block that was identified through the Phase 1 program. The block is located in the eastern down plunge extension of the C Zone between the 1,000 and 1,500 metre levels.

Approximately 1,894 metres of a planned 5,000 metres for 2016 have been completed (50 metre drill spacing) to date. Infill drilling will continue in this area over the balance of the year utilizing one drill rig from surface. Infill drilling will transition to underground drilling once access to the 860 metre drift has been established.

Highlights from the first two holes have confirmed the mineralization within this targeted area as follows (Table 7):

  • Hole MH2A-5A: 14.99 g/t gold over 2.29 metres
  • Hole MH2A-6: 6.46 g/t gold over 4.39 metres

Phase 2 Regional Drilling Program

The Phase 2 regional drilling program is designed to continue to evaluate the potential extension of the mineralization below the Kremzar mine as well as other previously identified high-priority gold targets located elsewhere on the highly prospective 77 km2 Island Gold property. The Phase 2 regional drilling program is expected to begin in late 2016 or early 2017.

Qualified Persons

The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by Daniel Adam P. Geo., Ph.D., Richmont's Vice-President, Exploration, a Qualified Person as defined by NI 43-101.

Quality Control

Assays for the exploration drilling were done at LabExpert in Rouyn-Noranda. Mineralized zones samples will be resent for verification in an accredited laboratory. The Corporation inserts at regular intervals quality control (QC) samples (blanks and reference materials) to monitor laboratory performance.

About Richmont Mines Inc.

Richmont Mines has produced over 1.6 million ounces of gold from its operations in Quebec, Ontario and Newfoundland since beginning production. The Corporation currently produces gold from the Island Gold Mine in Ontario, and the Beaufor Mine in Quebec. The Corporation is also advancing development of the significant high-grade resource extension at depth of the Island Gold Mine in Ontario. With 35 years of experience in gold production, exploration and development, and prudent financial management, the Corporation is well-positioned to cost-effectively build its Canadian reserve base and to successfully enter its next phase of growth.

Forward-Looking Statements

This news release contains forward-looking statements that include risks and uncertainties. When used in this news release, the words "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may", "objective" and similar expressions, as well as "will", "shall" and other indications of future tense, are intended to identify forward-looking statements. The forward-looking statements are based on current expectations and apply only as of the date on which they were made. Except as may be required by law or regulation, the Corporation undertakes no obligation and disclaims any responsibility to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.

The factors that could cause actual results to differ materially from those indicated in such forward-looking statements include, without limitation, changes in the prevailing price of gold, the Canadian-United States 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 and the failure of our exploration drilling programs to identify significant new resources or targets or expand existing resources could also affect the results. Other risks are set out in Richmont's Annual Information Form, Annual Reports and periodic reports. The forward-looking information contained herein is made as of the date of this news release.

Cautionary note to US investors concerning resource estimates

Information in this press release is intended to comply with the requirements of the Toronto Stock Exchange and applicable Canadian securities legislation, which differ in certain respects with the rules and regulations promulgated under the United States Securities Exchange Act of 1934, as amended ("Exchange Act"), as promulgated by the SEC. The requirements of National Instrument 43-101 -Standards of Disclosure for Mineral Projects ("NI 43-101) adopted by the Canadian Securities Administrators differ significantly from the requirements of the United States Securities and Exchange Commission (the "SEC").

U.S. Investors are urged to consider the disclosure in our annual report on Form 20-F, File No. 001-14598, as filed with the SEC under the Exchange Act, which may be obtained from us (without cost) or from the SEC's web site: http://sec.gov/edgar.shtml.

Tables of Drill Results

TABLE 1 LATERAL EXPLORATION (West of Main Zone - Higher than 740 LEVEL) Vertical depth of True Uncut Cut Intersectio Length From To Width Grade Grade n Hole Number (metres) (metres) (metres) (metres) (g/t Au) (g/t Au) Zone (metres) 450-467-51A 291 207.72 214.36 5.24 4.51 4.51 C 576 450-467-52 390 226.30 230.10 2.77 6.24 6.24 C 599 450-467-54 381 194.22 197.32 2.56 28.26 28.26 C 555 450-467-55 264 175.34 180.56 4.68 8.38 8.38 C 526 450-467-56A 305 175.03 177.36 2.15 0.50 0.50 C 511 450-467-58 300 255.00 258.08 2.07 2.78 2.78 C 622 450-467-59 255 194.71 197.85 2.50 1.99 1.99 C 549 450-467-60 342 246.00 249.88 2.69 3.67 3.67 C 620 450-467-61A 285 198.71 203.30 3.70 31.14 24.08 C 562 including 202.40 202.90 0.40 159.81 95.00 450-467-62A 210 170.50 174.13 3.30 4.26 4.26 C 511 450-467-63 406 255.30 258.40 2.15 4.94 4.94 C 626 450-467-64 306 232.80 237.00 3.05 1.78 1.78 C 595 450-467-65 375 228.14 230.97 2.06 4.24 4.24 C 600 460-457-01 250 194.50 197.30 2.50 6.09 6.09 C 524 460-457-02 400 213.20 216.30 2.60 98.68 11.60 C 558 including 213.65 214.00 0.29 866.27 95.00 460-457-03 291 227.84 231.00 2.47 1.42 1.42 C 585

TABLE 2 LATERAL EXPLORATION (West of Main Zone - Lower than 740 LEVEL) Vertical depth of True Uncut Cut Intersectio Length From To Width Grade Grade n Hole Number (metres) (metres) (metres) (metres) (g/t Au) (g/t Au) Zone (metres) 740-471-01 171 120.51 124.50 3.85 0.73 0.73 C 776 740-471-02 201 143.90 147.45 2.86 1.57 1.57 C 832 740-471-03 318 157.00 159.87 2.05 1.04 1.04 C 858 740-471-04 243 182.00 187.60 3.57 6.85 6.85 C 888 740-471-05 180 122.20 129.16 6.62 2.20 2.20 C 766 740-471-06 192 127.40 133.40 5.54 7.13 7.13 C 785 740-471-07 201 136.48 140.70 3.58 1.37 1.37 C 814 740-471-08 291 149.13 152.56 2.62 2.18 2.18 C 838 740-471-09 342 176.30 186.40 6.75 2.27 2.27 C 877 740-471-10 270 193.80 197.50 2.22 135.61 33.51 C 900 including 194.80 195.80 0.60 472.77 95.00 740-471-11 177 122.90 125.30 2.32 1.14 1.14 C 778 740-471-12 177 123.30 127.90 4.24 4.11 4.11 C 794 740-471-13 200 147.80 150.33 2.01 8.74 8.74 C 836 740-477-01 384 178.32 190.31 8.11 22.28 11.91 C 872 including 187.23 188.23 0.68 219.32 95.00 740-477-02 354 170.00 179.92 7.28 21.55 18.63 C 855 including 172.35 173.09 0.54 114.89 95.00 including 178.11 179.11 0.73 109.17 95.00 740-477-03 339 162.61 175.02 9.69 31.25 20.92 C 836 including 168.90 170.50 1.25 115.70 54.27 740-477-04 309 146.15 160.11 12.00 13.10 9.91 C 810 740-477-05 291 139.62 148.13 7.81 44.53 25.61 C 787 including 141.62 144.00 2.18 211.69 95.00 740-477-06 504 130.40 138.30 7.52 17.57 13.88 C 766 including 134.10 135.00 0.86 127.40 95.00 740-477-07 303 134.80 143.20 8.11 5.03 5.03 C 738 including 137.00 137.70 0.68 52.69 52.69 740-477-08 318 137.60 148.60 10.65 6.13 6.13 C 715 including 147.10 147.60 0.48 48.85 48.85 740-477-09 390 217.84 223.07 3.18 5.82 5.82 C 912 740-477-10 365 200.60 204.43 2.52 4.75 4.75 C 889 740-477-11 420 168.30 179.00 7.64 23.90 11.07 C 860 including 169.60 172.30 1.93 73.48 22.65 including 176.30 177.00 0.50 67.10 67.10 740-477-12 313 156.90 161.60 3.73 5.03 5.03 C 835 740-477-13 303 145.70 149.70 3.43 3.16 3.16 C 813 740-477-14 423 134.00 138.21 3.91 25.17 25.17 C 786 740-477-15 260 129.40 137.05 7.54 1.17 1.17 C 752 740-477-16 249 139.30 143.10 3.73 0.39 0.39 C 715 740-477-17 270 192.00 199.00 4.61 6.05 6.05 C 885 740-477-26 225 152.00 156.00 3.77 0.59 0.59 C 734 740-477-27 231 149.00 153.00 3.75 0.34 0.34 C 748 740-483-01 210 160.00 169.00 7.76 6.60 6.60 C 812 740-483-02 270 184.77 199.76 11.28 14.72 11.69 C 855 including 194.77 195.27 0.38 186.04 95.00 including 196.27 197.27 0.75 74.43 74.43 740-483-03 300 201.00 213.75 8.33 17.69 17.69 C 886 including 202.00 205.40 2.22 62.23 62.23 740-483-04 220 178.32 190.29 9.28 49.41 13.46 C 844 including 178.61 179.00 0.30 1198.12 95.00 740-483-05 270 204.00 211.45 5.03 84.74 15.67 C 883 including 204.00 204.74 0.50 292.80 95.00 including 208.55 208.85 0.20 1322.21 95.00 740-483-08 273 203.72 207.13 2.36 1.55 1.55 C 875 740-483-09 300 213.57 224.00 6.75 7.95 6.58 C 895 740-483-10 324 183.10 192.13 7.04 7.26 7.26 C 842 740-483-11 234 180.00 189.48 7.35 0.91 0.91 C 835 740-483-12 324 198.33 202.55 3.06 0.35 0.35 C 862 740-483-13 291 215.20 218.80 2.33 7.93 7.93 C 890 740-483-14 385 230.00 233.60 2.27 0.34 0.34 C 891 740-483-17 177 153.85 156.50 2.56 31.53 31.53 C 732 including 155.00 156.00 0.97 77.68 77.68 740-483-18 177 147.05 151.95 4.81 4.25 4.25 C 738 740-486-04 111 79.27 85.37 4.09 2.67 2.67 C 791 740-486-05 99 72.65 78.00 4.01 4.14 4.14 C 780 740-486-06 102 74.24 80.75 4.49 24.66 11.97 C 781 including 78.53 79.21 0.47 216.45 95.00 740-486-08 195 94.20 102.82 4.50 2.76 2.76 C 812 740-486-09 129 97.93 112.78 8.34 6.02 6.02 C 819 740-486-10 112 88.32 94.98 4.09 2.53 2.53 C 802 740-486-11 180 106.57 112.50 3.29 5.35 5.35 C 809 740-486-12 168 126.95 135.30 3.71 1.02 1.02 C 837 740-486-13 174 115.35 126.55 4.81 2.64 2.64 C 838 740-486-14 156 106.00 117.75 6.01 4.08 4.08 C 824

TABLE 3 NEAR MINE (Main Zone - Lower than 845 LEVEL) Vertical depth of True Uncut Cut Intersectio Length From To Width Grade Grade n Hole Number (metres) (metres) (metres) (metres) (g/t Au) (g/t Au) Zone (metres) 620-517-41 462 399.26 410.40 3.96 40.29 12.60 C 984 including 402.95 404.00 0.37 385.04 91.25 620-517-42 441 372.09 380.13 3.36 12.47 12.47 C 948 including 374.09 375.83 0.73 31.15 31.15 620-517-43 420 307.86 332.34 10.87 48.11 35.21 C 893 including 309.98 316.96 3.10 66.86 46.68 including 324.22 332.34 3.61 79.75 58.20 620-517-44 420 313.74 349.42 16.46 37.03 16.12 C 902 including 313.74 317.60 1.78 223.98 65.13 including 337.55 341.95 2.03 75.01 44.81 620-517-45 411 295.00 300.00 2.16 - - Dyke out 874 760-502-03 210 143.90 148.55 3.08 2.38 2.38 C 859

TABLE 4 NEAR MINE (EXTENSION 1) Vertical depth of True Uncut Cut Intersectio Length From To Width Grade Grade n Hole Number (metres) (metres) (metres) (metres) (g/t Au) (g/t Au) Zone (metres) 620-524-22 261 206.00 209.53 2.42 0.87 0.87 C 758 620-524-23 285 245.48 249.50 2.39 0.29 0.29 C 797 620-524-24 291 235.64 241.16 3.16 11.50 9.42 C 801 620-524-25 336 280.43 290.63 5.02 2.07 2.07 C 852 620-524-26 335 269.48 277.63 4.10 7.90 5.91 C 833 620-524-27 405 339.71 349.50 4.44 57.71 29.15 C 911 including 341.50 346.00 2.04 117.88 55.76 including 342.52 344.60 0.94 229.41 95.00 620-524-28 330 257.92 266.00 4.30 23.64 15.56 C 819 including 259.72 262.97 1.73 57.21 37.13 including 260.23 260.64 0.22 254.20 95.00 620-524-29 501 388.54 394.58 2.25 0.79 0.79 C 947 620-524-34 300 223.41 226.75 2.09 0.32 0.32 C 782 620-524-35 330 244.88 252.00 3.83 8.12 8.12 C 816 620-524-36 387 268.90 286.40 8.49 6.09 6.09 C 849 620-524-37 330 254.90 260.70 3.10 13.65 13.65 C 821 620-538-01 186 145.70 148.22 2.52 5.98 5.98 C 601 620-538-05 231 194.77 197.45 2.37 0.12 0.12 C 686

TABLE 5 NEAR MINE (EXTENSION 2) Vertical depth of True Uncut Cut Intersectio Length From To Width Grade Grade n Hole Number (metres) (metres) (metres) (metres) (g/t Au) (g/t Au) Zone (metres) 620-543-33 210 185.00 187.50 2.17 0.13 0.13 E1E 690 620-543-37 295 259.96 265.00 3.37 0.61 0.61 E1E 776 620-543-38 177 140.42 142.82 2.37 20.56 20.21 E1E 618 including 142.22 142.82 0.59 71.32 69.89 620-543-40 240 207.50 210.20 2.22 4.35 4.35 E1E 701 620-543-41 222 196.91 199.42 2.16 3.35 3.35 E1E 687 620-543-43 360 270.62 280.10 5.43 10.65 10.65 E1E 823 620-543-44 402 303.60 325.60 11.34 2.84 2.84 E1E 868 620-543-45 333 245.00 251.90 4.18 0.73 0.73 E1E 792 620-543-46 360 283.70 290.80 3.79 5.12 5.12 E1E 834 620-543-47 390 304.61 309.73 2.59 10.85 10.85 E1E 859 620-543-48 141 107.16 110.17 2.73 0.30 0.30 E1E 558 620-543-49 138 105.40 109.20 3.42 3.41 3.41 E1E 559 620-543-50 135 111.50 115.00 3.06 0.01 0.01 E1E 557 620-543-51 141 118.76 122.76 3.84 0.72 0.72 E1E 580 620-543-52 198 173.00 176.15 2.90 3.99 3.99 E1E 662 620-543-53 157 132.79 135.17 2.36 8.34 8.34 E1E 605 620-543-54 159 124.50 127.35 2.78 1.71 1.71 E1E 582 620-545-01 171 141.00 144.00 2.91 0.12 0.12 E1E 583 620-545-02 186 162.28 164.95 2.63 3.60 3.60 E1E 603 620-548-01 147 126.27 129.79 3.31 5.31 5.31 E1E 559 620-548-02 147 127.70 130.15 2.27 8.93 8.93 E1E 557 620-548-03 150 130.07 133.58 3.13 6.13 6.13 E1E 554

TABLE 6 DEEP DRILLING AND LATERAL EAST DEEP DRILLING Vertical depth of True Uncut Cut Intersectio Length From To Width Grade Grade n Hole Number (metres) (metres) (metres) (metres) (g/t Au) (g/t Au) Zone (metres) GD-586-01 975 780.23 785.20 3.56 4.02 4.02 E1E 658 GD-586-02A 960 840.70 844.00 2.06 10.41 10.41 E1E 744 GD-590-06A 897 749.02 757.00 4.94 2.09 2.09 E1E 674 GD-590-07 963 779.00 781.65 1.56 1.97 1.97 E1E 716 GD-586-03C 1,000 745.75 747.35 1.18 1.38 1.38 E1E 607

TABLE 7 DEEP DRILLING PROGRAM Vertical depth of True Uncut Cut Intersectio Length From To Width Grade Grade n Hole Number (metres) (metres) (metres) (metres) (g/t Au) (g/t Au) Zone (metres) MH1-8 1,671 1,526.35 1,531.50 1.77 4.86 4.86 E1E 1,434 MH1-9A 1,619 1,258.43 1,259.68 0.82 33.84 26.56 X 1,132 MH1-9A 1,619 1,408.35 1,408.90 0.36 22.53 22.53 C 1,256 including 1,258.43 1,258.77 0.22 121.75 95.00 MH2A-4 1,457 1,210.49 1,216.32 4.12 4.91 4.91 X 1,074 MH2A-4 1,457 1,331.70 1,340.65 6.38 5.66 5.66 E1E 1,172 MH2A-5A 1,544 1,368.50 1,372.00 2.29 14.99 14.99 E1E 1,234 MH2A-6 1,433 1,305.00 1,310.67 4.39 6.46 6.46 E1E 1,141 MH3-7 1,607 1,384.80 1,404.40 5.60 10.25 8.41 E1E 1,278 including 1,384.85 1,385.85 0.29 88.37 82.35 including 1,399.50 1,400.00 0.14 154.80 95.00 MH3-8 1,646 1,423.17 1,424.15 0.37 1.10 1.10 E1E 1,314 MH4 1,500 1,059.77 1,069.56 7.42 1.36 1.36 X 895 MH4-2 1,624 1,084.37 1,093.61 6.61 1.69 1.69 X 932 including 1,086.40 1,089.90 2.50 3.80 3.80 X 936 MH4-2 1,624 1,143.13 1,147.77 3.32 5.14 5.14 X 979 MH4-3A 1,550 1,106.90 1,113.82 4.81 17.77 17.77 X 951 including 1,108.34 1,109.96 1.13 65.26 65.26 MH5 1,500 1,105.50 1,108.85 2.54 3.89 3.89 X 967 MH5 1,500 1,172.80 1,175.20 1.82 1.73 1.73 X 1,021 MH5 1,500 1,304.35 1,308.20 2.92 3.48 3.48 X 1,128 MH5 1,500 1,313.35 1,316.30 2.23 7.11 7.11 G1 1,135 including 1,314.00 1,314.30 0.23 55.17 55.17

Renaud Adams,President and CEO, Phone: +1-416-368-0291 ext. 101; Anne Day, Vice-President, Investor Relations, Phone: +1-416-368-0291 ext. 105

Digital press kit: http://www.ots.at/pressemappe/PR119573/aom

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