Board of Directors

Richmont's Board of Directors are seasoned professionals from a variety of relevant business and mining backgrounds. The Board is composed of nine directors, eight of whom are considered to be independent directors within the meaning of Regulation 58-101 Disclosure of Corporate Governance Practices.

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Chairman Mr. H. Greg Chamandy Vice-Chairman Mr. Denis Arcand

Director Mr. Martin Rivard Director Mr. Réjean Houle Director Mr. Raynald Vézina Director Ms. Elaine Ellingham

Director Mr. Michel Lavigne Director Mr. Sam Minzberg Director Mr. Jean-Pierre Ouellet Corporate Secretary Mr. Sidney M. Horn

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H. Greg Chamandy

Chairman of the Board
Mr. Chamandy is the co-founder of Gildan Activewear Inc. He held the position of Chairman and Chief Executive Officer of Gildan from its inception in 1984, until retiring in 2004. During his tenure, Gildan grew from a simple textile manufacturer into a sophisticated vertically integrated apparel manufacturing giant, while its market capitalisation grew from $30 million at the time of its initial public offering in 1998, to over $830 million in 2004. In 2004, after creating the proper structure to replace himself, Mr. Chamandy retired from Gildan in order to pursue his other business interests. Mr. Chamandy subsequently became the Chairman and co-owner of Europe’s Best, North America’s largest selling brand of frozen fruit, which was sold to JM Smucker in 2008. Mr. Chamandy is currently also the Chairman of Oxbridge Private Wealth Management, a Canadian asset management company catering to high net worth individuals, and the Co-Chairman of Liquid Nutrition Inc., a rapidly growing Canadian smoothie and health bar chain.

Mr. Chamandy has been a director of Richmont Mines since May 2009, and Chairman of the Board since December 2009.

Denis Arcand

Vice-Chairman of the Board
Mr. Arcand received his Bachelor of Commerce from the HÉC in Montreal, and is a Fellow of the Investment Dealers Association of Canada. Mr. Arcand began his career as a sales representative with Nesbitt Thomson in 1966. From 1972 to 1988, he held various positions with the investment dealer Bell Gouinlock Ltd., most notably heading up its Montreal office as Director and Vice-President. He was also responsible for its corporate finance department. Under his leadership, many industrial and mining company financings were completed, resulting in Bell Gouinlock, which merged with Pemberton Securities Ltd, becoming the leader of mining financing in Quebec.

Mr. Arcand has been a Director of Richmont Mines since 1995, was interim Chairman of the Board from May to December 2009, and is a member of the Audit Committee.

Martin Rivard

Director, President and Chief Executive Officer
Mr. Rivard holds a Bachelor's degree in Business Administration. He has held various roles of increasing responsibility at Richmont Mines since joining the Company in 1996. Mr. Rivard has been a member of the Management Committee since 1997, and served as Executive Vice-President of the Company from 2000 to 2005. He was promoted to Director, President and CEO in October 2005. M. Rivard is also Chairman of the Board of MISA (Mines, Innovations, Solutions, Applications), an organization of private, public and parapublic entreprises, whose goal is to ensure the ongoing vitality of the Quebec mining industry.

Réjean Houle

Director
Mr. Houle is an Ambassador for the Montreal Canadiens Hockey Club Inc., is the President of The Montreal Canadiens Alumni Association, and served as General Manager of the Canadiens from November 2000 until October 2005. Prior to that, Mr. Houle was Director of Public Relations for Molson Breweries Inc., after having retired from a very successful career as a professional hockey player in the National Hockey League. Mr. Houle is also on the Board of Directors of the Fondation du Canadien pour l'enfance, and the Marc-Aurèle Fortin Museum.

Mr. Houle has been a director of Richmont Mines since 1989, and is a member of the Compensation Committee.

Raynald Vézina, Eng.

Director
Mr. Vézina obtained a Bachelor of Mining Engineering from the Université Laval in 1970. Mr. Vézina is a mining consultant with extensive industry experience, including 30 years of experience in mining operations and project development in Canada. During those years, he worked in various management positions for Cambior Inc., Falconbridge Ltd and Placer Dome Inc. During his career, he has been a member of numerous professional and R&D associations. Mr. Vézina is also a member of the Board of Directors of MISA (Mining Innovation Solutions Applications), an organization of private, public and parapublic entreprises, whose goal is to ensure the ongoing vitality of the Quebec mining industry.

Mr. Vézina has been a director of Richmont Mines since 2006, and is a member of the Audit and Remuneration Committees.

Elaine Ellingham, P. Geo., M. Sc., M.B.A.

Director
Ms. Ellingham is a professional geoscientist with over 25 years of experience in the mining industry. Ms. Ellingham is President of Ellingham Consulting Ltd., a company providing geological and corporate finance services to international clients. She spent eight years with the Toronto Stock Exchange, from 1997 - 2005, in a number of capacities including National Leader of Mining, and served on the TSX Stock List Committee. Ms. Ellingham was Senior VP, Investor Relations for IAMGOLD Corporation and has a range of experience in mineral exploration, corporate development and investor relations for mining companies including Campbell Resources Inc., Rio Algom Exploration Inc., and St. Joe Canada Inc. Ms. Ellingham is currently a director of Continental Nickel Ltd., and is a former director of NewWest Gold Corporation.

Ms. Ellingham has been a director of Richmont Mines since February 2010, and sits on the Corporate Governance Committee.

Michel Lavigne, FCA

Director
Mr. Lavigne serves on the Board of the Caisse de dépôt du Québec (CDPQ) and is Chairman of its Audit Committee. He is also Chairman of the Board of Primary Energy Recycling Corporation and serves on the Boards of Nstein Technologies Inc., Canada Post Corporation, Quebecor Media Inc., and TVA Group Inc. Until 2005, Mr. Lavigne was partner, President and CEO of Raymond Chabot Grant Thornton, Chairman of the Board of Grant Thornton Canada and was a member of the Board of Governors of Grant Thornton International.

Mr. Lavigne has been a director of Richmont Mines since February 2010, and is Chairman of the Audit Committee.

Sam Minzberg, B.A., LL.B., B.C.L.

Director
Mr. Minzberg is a senior partner with the law firm Davies Ward Phillips & Vineberg LLP in Montreal, and is a member of the firm’s Management Committee. Mr. Minzberg specializes in corporate, commercial and tax law. He was previously President and CEO of Claridge Inc., a management and holding company on behalf of the Charles R. Bronfman Family. Mr. Minzberg also serves on the Board of Directors of Quebecor Media Inc., HSBC Bank Canada, HSBC North America Holdings Inc. and Reitmans (Canada) Limited.

Mr. Minzberg has been a director of Richmont Mines since February 2010, and is Chairman of the Compensation Committee.

Jean-Pierre Ouellet, B.A., LL.L, B.C.L.

Director
Mr. Ouellet is currently a venture partner with St-Lawrence Capital in Montreal. He serves on the Board of Directors of the Caisse de dépôt et placement du Québec (CDPQ) where he is Chairman of its Corporate Governance and Ethics Committee, and is also on the Board of GBO Inc. and is Chairman of its Audit Committee. Mr. Ouellet is also on the Boards of various non-profit organizations including the MacDonald Steward Foundation and the Montreal Economic Institute. From 2000 to 2008 Mr. Ouellet was Vice Chairman of RBC Capital Markets, where he was responsible for the investment banking operations for the province of Quebec. He was previously Senior Vice President, Chief Legal Officer and Corporate Secretary of Canadian National Railways Inc. (CN) and a member of the Senior Executive Committee of the Company.

Mr. Ouellet has been a director of Richmont Mines since February 2010, is Chairman of the Corporate Governance and Ethics Committee, and is a member of the Compensation Committee.

Sidney M. Horn, M.B.A., B.C.L., LL.B.

Corporate Secretary
Mr. Horn is a Partner in the Montreal office of Stikeman Elliott LLP. He received the highest practitioner rating in the Canadian Legal Directory LEXPERT in the areas of corporate commercial, corporate finance and securities, and mergers and acquisitions. He is listed in the 2010 edition of "The Best Lawyers in Canada" and in the 2010 edition of "A Guide to the Leading 500 Lawyers in Canada". He is a member of the Boards of Directors of Astral Media Inc., The Wet Seal, Inc., Genworth MI Canada Inc. and Prime Restaurants of Canada Inc.

Mr. Horn was named as the Company's Corporate Secretary in December 2009.

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