Arncoeur

Size	5.03 km² (503 hectares)
Location	25 km southwest of Rouyn-Noranda, Quebec
	Adjacent to the Company's Francoeur Mine
Ownership	100%

Brief history:

In 1936-37, Arncoeur Gold Mines did stripping, sampling as well as the drilling of 47 relatively shallow diamond drill holes in the western part of the property. While interesting gold values were reported, work was suspended at the end of 1937.

At the end of 1980, the Atlas Yellowknife Resources group drilled 4 holes over 400 metres to verify the best previously reported intercepts.

In 1985, Richmont acquired 75% of the Arncoeur property following an option agreement with PanAltas Energy Inc. The Company subsequently completed 6 drill holes (1,477 metres) in 1986, 10 holes (8,232 metres) in 1987, and 2 holes (1,656 metres) in 1988. Richmont acquired the remaining 25% interest in the property in 2004.

Geological characteristics:

The most favorable targets for gold on this property are mainly within the prolongation of the Francoeur-Wasa shear, which covers the lateral and down-dip extensions of the Francoeur Mine's West Zone deposit. Other shear zones running parallel to the Francoeur-Wasa shear represent interesting potential future targets.

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