Intermittent exploration fieldwork has been conducted on the Beaufor property since the 1930s. Following an initial development period, commercial production started in January 1996. In the spring of 2001, Richmont Mines bought 50% of the mining rights of the Perron, Beaufor, Pascalis, Colombière and Courvan properties for CAN $1.8 million. In September 2001, Richmont Mines undertook construction work to secure the crown pillar, and in January 2002, resumed commercial production at the mine jointly with Louvem Mines. The Beaufor Mine has produced gold on an annual basis since then. On June 30, 2010, Richmont became the 100% owner of the Beaufor property, following the Company’s acquisition of the outstanding 30% of Louvem shares not previously owned by Richmont.