Camflo North West

Size	4.53 km² (453.5 hectares)
Location	5 km east of Malartic, Quebec
Ownership	80% Richmont - 20% SOQUEM
	Note: SOQUEM is a wholly owned subsidiary of SGM (Société générale de financement du Québec), an industrial and financial holding corporation of the Quebec government.

Brief history:

The first reported exploration work on this property dates from 1926, when some trenching was completed. A lot of diamond drilling has been performed on this property over the years by a variety of exploration companies, including over 100 holes prior to 2000. The main drilling targets included the Camflo-Black Cliff horizon, and the northern and southern parts of the property.

Richmont acquired 50% of the property from SOQUEM in 2003. In 2003 and 2004 Richmont drilled 3 holes over 2,170 metres on the property, to test the lateral extension of the Black Cliff mineralization and a dyke in the south. Only low gold values were encountered.

In 2005, an additional 3 holes over 882 metres were completed to test two targets in the southern part of the property. Again, no significant gold values were cut.

In 2007, in order to acquire another 30% interest in the property, Richmont drilled 3 holes over 1,366 metres. The program tested geophysic targets inside the Kewagama sediment along a northeast structure controlling the Camflo intrusion, site of the past-producing Camflo Mine. Although there were no significant results from this drilling program, this work enabled Richmont Mines to acquire an additional 30% interest in the property. Richmont now holds 80% of the Camflo North West property.

Richmont plans to reinterpret the geological data to define new targets on the property.

Geological characteristics:

The Camflo North West property is located in the southern part of the Abitibi greenstone belt, in the Malartic mining camp. The property is between the past-producing Camflo Mine (1.7 million ounces) and the Black Cliff deposit, approximately 2 kilometers north of the Larder Lake Cadillac fault. From south to north, it contains rocks from the Cadillac group, Blake River, Kewagama, Heva and Jacola formations. The northern part of the property is constituted by a part of a large Z fold.

Several fault systems exist in the northern part of the property, the main ones striking east-west with a strong dip to the north. In addition, the property contains the extension of the structure controlling the Camflo mineralization, and an east-west one with a dip between 40° and 60° to the north.

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