17 04 04 european gold forum - zurich

POSITIONINGFOR

SUSTAINABLEGROWTH

European Gold Forum, Zurich April 4-6, 2017

2RIC: TSX NYSE

2

RICHMONT MINESFORWARD-LOOKING STATEMENTSSafe Harbor Statement & Cautionary Note to U.S. Investors Concerning Resources Estimates

This presentation contains forward-looking statements that include risks and uncertainties. When used in this presentation, thewords “estimate”, “projects”, “anticipate”, “expects”, “intend”, “believe”, “hope”, “may”, 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 oncurrent expectations and apply only as of the date on which they were made. Except as required by law or regulation, Richmontundertakes no obligation and disclaims any responsibility to publicly update or revise any forward-looking statements of information,whether as a result of new information, future events or otherwise. The factors that could cause actual results to differ materially fromthose indicated in such forward-looking statements include changes in the prevailing price of gold, the Canadian-U.S. exchange rate,grade of ore mined and unforeseen difficulties in mining operations that could affect revenue and production costs. Other factors suchas uncertainties regarding government regulations could also affect the results. Other risks may be detailed from time to timein Richmont Mines Inc.’s Annual Information Form and other public disclosure.

The resource estimates in this presentation were prepared in accordance with National Instrument 43-101 Standards of Disclosure ofMineral Projects (“NI 43-101”) adopted by the Canadian Securities Administrators. The requirements of NI 43-101 differ significantlyfrom the requirements of the United States Securities and Exchange Commission (the “SEC”). In this presentation, we use the terms“Measured”, “Indicated” and “Inferred” Resources. Although these terms are recognized and required to be used in Canada, theSEC does not recognize them. The SEC permits U.S. mining corporations, in their filings with the SEC, to disclose only those mineraldeposits that constitute “Reserves”. Under United States standards, mineralization may not be classified as a Reserve unless thedetermination has been made that the mineralization could be economically and legally extracted at the time the determination ismade. United States investors should not assume that all or any portion of a Measured or Indicated Resource will ever beconverted into “Reserves”. Furthermore, “Inferred Resources” have a great amount of uncertainty as to their existence and whetherthey can be mined economically or legally, and United States investors should not assume that “Inferred Resources” exist or can belegally or economically mined, or that they will ever be upgraded to a more certain category.

For additional information regarding the Mineral Reserves and Resources referred to in this presentation, please refer to the pressrelease dated Jan. 31, 2017 reporting Richmont Mines Mineral Reserve and Resource estimates as of Dec. 31, 2016.

U.S. Investors are urged to consider the disclosure in our annual report on Form 20-F, File No. 001-14598, which may be obtained fromus or from the SEC’s web site: http://sec.gov/edgar.shtml.

(All amounts are in Canadian dollars, unless otherwise indicated.)

http://sec.gov/edgar.shtml

3RIC: TSX NYSE

3

Long-term value

Quality asset base in CanadaGrowingproduction profileSignificant exploration potential

Capital discipline & shareholder returns

Lowshares outstandingDecreasingcost structureMaximizing per share valuation

Cash focus

Strong Balance sheetFavourableCAD$ exposureGrowingcash flow streams

ESTABLISHED CANADIAN GOLD PRODUCERPOSITIONING FOR SUSTAINABLE GROWTH

ontario

4RIC: TSX NYSE

4

Strong cash position supports fully funded strategic organic growth plan

(1) As of Dec. 31, 2016.(2) Comprised mainly of mobile equipment capital leases.(3) Calculated using a C$:US$ exchange rate of 1.30

Analyst CoverageBMO Capital Markets Brian Quast

Canaccord Genuity Rahul Paul

CIBC Jeff Killeen

Cormark Securities Richard Gray

Desjardins Capital Mike Parkin

Haywood Securities Kerry Smith

Mackie Research Ryan Hanley

Macquarie Capital Markets Michael Gray

Paradigm Capital Don Blyth

PI Financial Brian Szeto

Scotia Capital Craig Johnston

TD Securities Daniel Earle

CAPITAL STRUCTURE AND COVERAGEPOSITIONING FOR SUSTAINABLE GROWTH

TSX-NYSE: RIC Share Capital (1)

Issued & Outstanding Shares 63.1M

Fully Diluted 66.0M

Market Capital (March 28, 2017) US$410M

CASH(1)

C$75M(US$56M)(3)

DEBT(1,2)

C$12.5M(US$9.6M)(3)

5RIC: TSX NYSE

5

• Permit amendments for 1,100 tpd expansion at Island Gold• Appointed Rob Chausse as CFO (March 2017)

RICHMONT OPERATIONS2016 HIGHLIGHTS

FOCUSED ON TARGETS2016

Results2016

Guidance(1) Scorecard

Gold produced (oz) 104,050 98,000-106,000 high end

Cash cost per oz (2) $908 $885-$945 in lineAISC per oz (2) $1,272 $1,230-$1,335 in lineCash cost per oz (2,3) $685 $675-$720 in lineAISC per oz (2,3) $960 $935-$1,015 in line

(1) 2016 guidance revised positively driven by significantly better than expected performance from the Island Gold Mine (refer to Press Release of September 12, 2016).(2) Refer to the Non-IFRS performance measures contained in the 2016 MD&A.(3) Assuming an exchange rate of 1.30 Canadian dollars to 1.0 US dollar.(4) Before changes in non-cash working capital.

C$

US$

2016 Full-Year Financial Results C$ US$

Revenue from mining operations $168.7 M $127.3 M

Adj. Operating cash flow, per share(2,4) $0.80 $0.62

Net earnings per share, basic $0.20 $0.15

6RIC: TSX NYSE

6

2012 2013 2014 2015 2016

Min

eral

Res

erve

s (0

00’s

oun

ces)

Monique Beaufor Island Gold

Island Gold

752 koz

Beaufor45 koz

RICHMONT ASSETS2016 MINERAL RESERVES AND RESOURCES

Mineral Reserves and Resources(1)(2)

(December 31, 2016) Gold Ounces ΔYoY Grade (g/t) ΔYoYIsland Gold Mine(3)

Proven & Probable Reserves 752,200 190,500 9.17 11%Measured & Indicated Resources 91,450 19,750 5.94 (7%)Inferred Resources 995,700 227,650 10.18 20%

Beaufor MineProven & Probable Reserves 44,920 18,930 6.86 4%Measured & Indicated Resources 83,700 88,200 7.37 16%Inferred Resources 7,500 20,500 6.44 0%(1) Refer to the detailed mineral reserve and mineral resource tables that follow at the end of this presentation.(2) No changes to Mineral Reserves and Resources were made at the Corporation’s other properties.(3) An NI 43-101 Technical Report for the Island Gold Mine will be filed within 45 days.

Reserves increase 34%• 11% grade increase to 9.17 g/t

Inferred Resources increase 30%• 20% grade increase to 10.18 g/t• New blocks identified laterally to the

east and at depth below 1,000 m• Low discovery cost of ~$35/oz

Island Gold Reserves Growth Significant Reserve Growth

7RIC: TSX NYSE

7

RICHMONT OUTLOOK2017 PRODUCTION AND COST GUIDANCE

(1) Refer to the Non-IFRS performance measures contained in the 2016 MD&A.(2) 2017 Estimates include high end of production guidance and low end of cost guidance.

For details, see Press Release dated February 2, 2017.

2017 Outlook

• up to 15% increase in production• up to 8% decrease in costs • Additional potential for upside

in production

2017 Key Objectives

• Positive Expansion Case PEA 900 tpd vs. 1,100 tpd fully permitted

• Planned capital investment fully funded by operating cash flow

• Cost and operational efficiencies• Continue Reserve and Resource growth

$400

$500

$600

$700

$800

$900

$1,000

$1,100

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

2013 2014 2015 2016 2017EC

ash

Cos

ts (U

S$/

oz)(1

)

Gol

d P

rodu

ctio

n (o

z)

Positioned to deliver another year of record operational performance

(2)

Cash Costs (US$/oz)(1)Gold Production (oz)

8RIC: TSX NYSE

8

2017 GUIDANCE Island Gold Mine Beaufor Mine Company-wide

Gold Production (ounces) 87,000 - 93,000 23,000 - 27,000 110,000 - 120,000

Cost Estimates

C$/ozCash Costs (1) $715 - $765 $1,265 - $1,320 $835 - $885Corporate G&A - - $105 - $110All-in Sustaining Costs (1) $945 - $995 $1,540 - $1,590 $1,180 - $1,235

US$/ozCash Costs (1)(2) $550 - $590 $975 - $1,015 $640 - $680Corporate G&A (2) - - $80 - $85All-in Sustaining Costs (1)(2) $725 - $765 $1,185 - $1,225 $905 - $950Capital Investment Estimates

C$(M)Sustaining Capital $19 - $22 $6 - $7 $25 - $29Expansion Capital (3) $33 - $35 - $33 - $35Exploration & Project Evaluation $14 - $16 $2 - $3 $16 - $19

US$(M)Sustaining Capital(2) $15 - $17 $5 - $6 $19 - $22Expansion Capital(2)(3) $25 - $27 - $25 - $27Exploration & Project Evaluation (2) $11 - $12 $1 - $2 $12 - $14

(1) Cash costs and all-in sustaining costs (“AISC”) are non-IFRS measures. Refer to the Non-IFRS Performance Measures in the 2016 MD&A.(2) Assuming an exchange rate of 1.30 Canadian dollars to 1.0 US dollar.(3) Expansion capital estimates for 2017 relate exclusively to the Island Gold Mine and are discretionary in nature. Ongoing deployment of project capital

at the Island Gold Mine is contingent upon the receipt of a confirmatory Preliminary Economic Assessment (“PEA”) for 1,100 tonnes per day and aminimum sustaining gold price of C$1,550 per ounce. Expansion capital is exclusive of capital requirements related to a mill expansion in 2018 ascontemplated in the PEA.

RICHMONT TARGETS2017 PRODUCTION AND COST GUIDANCE

9RIC: TSX NYSE

9

146% PRODUCTION INCREASE SINCE 2013

(1) Revised positively driven by significantly better than expected performance from the Island Gold Mine (refer to Press Release of September 12, 2016).

(2) Refer to the Non-IFRS performance measures contained in the 2016 MD&A.(3) The revised guidance assumes an exchange rate of 1.33 for January to June and 1.30 for July to December.

Productionand Costs

2016Results

2016Guidance(1)

2017Guidance

Gold production (oz) 83,323 75,000-80,000 87,000-93,000

Cash costs/oz (C$)(2) $779 $800-$840 $715-$765

AISC per oz. (C$)(2) $988 $1,040-$1,110 $945-$995

Cash costs/oz (US$)(2,3) $587 $610-$640 $550-$590

AISC per oz. (US$)(2,3) $745 $795-$845 $725-$765

Capital andExploration ($M)

2016Results

2016Guidance(1)

2017Guidance

Sustaining Capital ($C) $17.2 $18.9 $25-$29

Project/Expansion Capital ($C) $39.9 $46.1 $33-$35

Exploration ($C) $14.8 $16.0 $16-$19

Sustaining Capital ($US) $13.0 $14.4 $19-$22

Project/Expansion Capital ($US) $30.1 $35.2 $25-$27

Exploration ($US) $11.2 $12.2 $12-$14Increasing Production51% in 2016~12% in 2017

Declining Cash Costs24% lower in 2016~8% lower in 2017

ISLAND GOLD MINECANADIAN HIGH GRADE UNDERGROUND MINE

Growth opportunities1,100 tpd Expansion Case PEA under review

Increasing reservesat higher grades

Exploration potentiallaterally and at depth

Mineral Reserves and Resources (December 31, 2016)

Grade(g/t)

Gold ounces

Proven & Probable Reserves 9.17 752,200

Measured & Indicated Resources 5.94 91,450

Inferred Resources 10.18 995,700

10RIC: TSX NYSE

10

0.01.02.03.04.05.06.07.08.09.010.0

0

200

400

600

800

1,000

1,200

Gra

de (g

/t)

Und

ergr

ound

pro

duct

ivity

(tp

d)

Positioning the mine for annual production rate of

+100k ounces

Multi-years of mine life pre-developed

Increasing Production at declining Costs

(1) Refer to the Non-IFRS performance measures contained in the 2016 MD&A.(2) 2017 amounts represents the high-end of production guidance and low-end of cash costs

guidance (see Feb. 2, 2017 Press Release). (3) Estimated production based on Base Case and Expansion Case scenarios outlined in Nov. 1,

2016 Press Release and using 2016 average grade of 9.02 g/t.

Increasing Mine Productivity

$0

$200

$400

$600

$800

$1,000

0

20

40

60

80

100

120C

ash

Cos

ts (U

S$)

(1)

Gol

d P

rodu

ctio

n (k

oz)

0.0

2.0

4.0

6.0

8.0

10.0

0.0

0.2

0.4

0.6

0.8

1.0

1.2

2014 2015 2016 LoM Target

Gra

de (g

/t)

Gol

d R

eser

ves

(M o

z)

Expanding Reserves at higher Grades

(1) 2015 productivity includes a 3 week mine shutdown in the fourth quarter.(2) Q3 2016 productivity includes 16-day electrical upgrade shutdown of the underground

mine

ISLAND GOLD MINEPOSITIONING FOR GROWTH

11RIC: TSX NYSE

11

GOUDREAULOCHALSH ISLAND EXT1

EXT2

- 500 m

340 m Level

190 m Level

W E

Crown pillar

Surface

EXPANSION CASE PEA AREA

1000 m Level

635 m Level

740 m Level

860 m Level

Third Mining Horizon P&P 984,000 11.71 370,460

Fourth Mining Horizon P&P 309,000 8.74 86,830

- 1,000 m

LegendProven Reserves

Probable Reserves

Measured & Indicated Resources

Inferred Resources

Ramps and Actual

Development

Mined Out

Planned Development

Resources in table only include Island - Lower C Zone, Extension 1 - Lower C Zone, and Extension 2 - Lower E1E Zone

200 m

620 m LevelPlannedExploration Drift

Total tonnes sourced:65% stoped ore• First horizon: 45%• Second horizon 45%• Third horizon 10%

35% development ore• First horizon 25% (Ext 1 and Ext 2)• Third horizon 75% (Lower C)

5,112 m of waste development

2017 MINE PLAN

860 m LevelPlannedExploration Drift

(Mineral Reserves and Resources as of December 31, 2016)

First Mining Horizon Tonnes Grade (g/t) Ounces

P&P 427,000 5.86 80,450

1740 m LevelExplo. & Delineation Drift

HORIZON

2

3

4

HORIZON

HORIZON

HORIZON

Outside Expansion Case PEA AreaP&P 341,000 6.89 75,500

Total Inferred ResourcesInferred 3,042,000 10.18 995,700

Second Mining HorizonP&P 490,000 8.82 138,950

ISLAND GOLD MINE2017 MINE DEVELOPMENT PLAN

12RIC: TSX NYSE

12

• Expanded resource area east-west of main reserve area (most contiguous portion)

• Mining from a depth of 450 to 1,000 metres over 4 mining horizons

• Optimal mining rate while maintaining minimum mine life of +7 years

• Base Case of 900 tpd increasing to Expansion Case 1,100 tpd utilizing existing ramp system

• Incorporation of December 31, 2016 Reserve and Resource estimates to consider:

• New modeling parameters (capping, ellipsoid searches and dilutions)

• 2016 delineation drilling and ore development drifting

• New Life of Mine (LoM) and operating costs and capital estimates

• Minimal capital requirements for mine and mill expansion; fully funded internally

• Maximum mining capacity without new infrastructure

• Increased milling capacity to 1,200 tpd would allow future growth at minimal cost (~C$15M)

Expansion Case PEA (Q2 2017)

ISLAND GOLD MINEGROWTH OPPORTUNITIES

13RIC: TSX NYSE

13

ISLAND GOLD MINE2017 DRILLING PROGRAM

620 m Level PlannedExplo. & Delineation Drift


GOUDREAULOCHALSH ISLAND EXT1 EXT2

- 500 m

- 1,500 m

W E

340 m Level

190 m Level

740 m LevelExplo. & Delineation Drift

- 1,000 m

200 mMineralized trend

2017 DELINEATION DRILLING 30,000 m

2017 DEEP EXPLORATION DRILLING 36,000 m

Proven Reserves

Probable Reserves

Indicated Resources

Inferred Resources

Inferred Resources

(B, D, G, G1 Zones)

Ramps and Actual Development

Mined Out

Planned Development

Legend

**** Mineral Reserves and Resources as of December 31, 2016)

2017 DELINEATION DRILLING 7,000 m

2017 SURFACE/ UNDERGROUNDEXPLORATION DRILLING 30,000 m

450 k oz inferred resources added in 2016 at $35/oz

GD-630-0125.37/3.85

GD-620-0119.74/1.4

NEW DISCOVERYGD-640-05

20.57/11.3 c.l.

Potential Extension

**** Drillhole IntersectionAu (cut 70 g/t) / true thickness (metres)c.l. Core length (metres)

14RIC: TSX NYSE

14

340 m Level

- 500 m

340-588-093.62/2.10

340-588-1110.10/3.0

340-588-1210.24/3.0

340-588-1333.60/2.0

340-588-1410.60/2.0

340-588-1511.44/4.36

GD-640-047.38/3.27

340-588-185.69/2.3

340-588-174.98/3.0


620 m Level PlannedExplo. & DelineationDrift


- 1000 m

GD-640-0520.57/11.3 c.l.

340-576-028.50/2.0

340-576-015.17/2.0

340-586-091.73/2.0

340-586-088.38/2.0

340-579-012.69/2.57

340-586-067.63/2.68

340-586-073.16/2.0

340-588-0814.96/2.0

GD-640-05-110.16/5.74 c.l.

GD-620-0119.74/1.4

GD-630-0125.37/3.85

GD-640-05-1

Cross section looking W

GD-640-05-116.10/8.33 c.l.

GD-640-05

GD-640-023.66/5.34

GD-640-010.08/4.24

Cross section looking W

EASTERN LATERALDRILLING

ISLAND GOLD MINEEastern Lateral Exploration andInfill Drilling

Proven Reserves (2016/12/31)

Probable Reserves (2016/12/31)

Indicated Resources (2016/12/31)

Inferred Resources (2016/12/31)

Ramp and Actual Development

Mined Out

Planned Development

Intersection not included in Dec. 2016 Reserves & Resources update

340-588-160.93/2.0

100 m

> 30

8.0 to 30.0

4.0 to 8.0

< 4.0

Drillhole IntersectionAu (cut 70 g/t) / true thickness (metres)c.l. Core length (metres)

15RIC: TSX NYSE

15

15,5

00 m

E

15,0

00 m

E

Dyke

MH5-1A9.27/5.93

MH4-44.10/3.09

MH5-25.08/4.40

MH4-54.63/2.51

MH2A-74.72/4.80

- 1,500 m

- 1,000 m

100 m



MH2A-9B2.66/5.89

MH84.60/2.24

MH5-30.95/3.81

MH60.91/9.44

Drillhole IntersectionAu (cut 225 g/t)

Drillhole IntersectionAu (cut 70 g/t)

Potential Extension

MH1-1024.54/3.76

MH2A-810.37/9.17

MH2A-106.16/11.58

DEEP DIRECTIONAL DRILLING

ISLAND GOLD MINEDeep Directional Exploration andInfill Drilling






Mined Out

Planned Development

> 30

8.0 to 30.0

4.0 to 8.0

< 4.0

Drillhole IntersectionAu cut g/t / true thickness (metres)


16RIC: TSX NYSE

16

14,5

00 m

E

15,0

00 m

E

Dyke

- 1,000 m

100 m


860 m Level PlannedExplo. & Delineation

Drift

740-477-4038.62/2.24

740-465-1523.29/3.51

740-465-0338.66/3.68

740-465-0485.33/3.52

740-465-0843.05/5.13

740-477-3060.15/3.29

740-477-4324.21/4.33

820-520-1330.20/3.62

820-520-0853.64/6.53

820-512-0460.16/8.79

820-520-0152.67/3.28

800-511-0123.36/4.72

740-477-3332.47/6.57

740-465-2024.56/3.85

740-483-2134.13/3.53

740-483-2226.37/3.46

740-465-1696.97/5.08

740-465-2350.84/2.03

635 m Level

740 m Level

DRILLING IN PEA

ISLAND GOLD MINEHighlights Expansion Case PEADelineation & Exploration Drilling






Mined Out

Planned Development

> 30

8.0 to 30.0

4.0 to 8.0

< 4.0

Drillhole IntersectionAu (cut 225 g/t) / true thickness (metres)


17RIC: TSX NYSE

17

ISLAND GOLD MINEREGIONAL EXPLORATION: FINDING THE NEXT MINE

18RIC: TSX NYSE

18

1) Includes 1,165 ounces produced from the Monique Mine in January 2016.

2) Refer to the Non-IFRS performance measures contained in the 2016 MD&A.

3) Includes cash costs from the Beaufor and Monique mines.

4) An exchange rate of 1.36 Canadian dollars to 1.0 US dollar was used for the original 2016 guidance issued on Feb. 11, 2016. The revised guidance assumes an exchange rate of 1.33 for January to June and 1.30 for July to December. 2017 guidance assumes an exchange rate of 1.30 Canadian dollars to 1.0 US dollar.

5) Refer to full 2016 Reserve and Resource information at the end of this presentation.

6) For positive revision details refer to Press Release of September 12, 2016.

Full-Year2016

2016Guidance(6)

2017Guidance

Gold production (oz) 20,727(1) 23,000-26,000(1) 23,000 - 27,000

Cash costs/oz (C$)(2) $1,429(3) $1,150-$1,300(3) $1,265 - $1,320

AISC per oz. (C$)(2) $1,816(3) $1,420-$1,610(3) $1,540 - $1,590Cash costs/oz (US$)(2)(4) $1,079(3) $875-$1,000(3) $975 - $1,015AISC per oz. (US$)(2)(4) $1,371(3) $1,080-$1,235(3) $1,185 - $1,225

Capital and ExplorationFull-Year

20162016

Guidance(6)2017

GuidanceSustaining Capital (C$M) $7.9 $7 $6-7Sustaining Capital (US$M) $5.9 $5.3 $5-6

2016 Reserves and Resources Grade g/t Gold OuncesReserves (oz)(5)/Grade (g/t) 6.86 44,920M&I (oz)(5) /Grade (g/t) 7.37 83,700Inferred (oz)(5)/Grade (g/t) 6.44 7,500

BEAUFOR MINE & CAMFLO MILLCANADIAN ASSETS IN QUEBEC

H2 2016 Increases in:• Underground tpd• Gold production• Grade

2017 PlanContinue to increase mining in higher-grade Q zone

Camflo Mill1,200 tpd capacity provides toll milling opportunities

19RIC: TSX NYSE

19

Source: Company disclosure, Fact Set and available street research.Notes: Resources shown inclusive of reserves. Au Eq. figures calculated using LT consensus price estimates.

Richmont based on mid-point of 2017 guidance only. Per share figures based on basic shares.

RICHMONT MINESPEER COMPARATIVES

19.2x

12.4x

9.8x 9.2x 9.0x 8.3x 8.2x6.2x 5.8x

2.6x

Wes

dom

e

Guy

ana

Gol

dfie

lds

Pre

mie

rG

old

Ric

hmon

t

Klo

ndex

Tim

min

sG

old

Arg

onau

t

Tera

nga

Rox

gold

Prim

ero

18.0x

14.4x

7.7x 7.1x 6.7x 6.2x 5.6x 5.1x 4.2x

1.4x

Pre

mie

rG

old

Wes

dom

e

Guy

ana

Gol

dfie

lds

Tim

min

sG

old

Ric

hmon

t

Rox

gold

Tera

nga

Klo

ndex

Arg

onau

t

Prim

ero

Consensus P/2017 Cash Flow Consensus P/2018 Cash Flow

1.4x1.3x

1.0x 1.0x 1.0x0.8x 0.8x 0.8x

0.6x0.4x

Klon

dex

Wes

dom

e

Guy

ana

Gol

dfie

lds

Rox

gold

Ric

hmon

t

Tera

nga

Prem

ier

Gol

d

Argo

naut

Tim

min

sG

old

Prim

ero

2017 Gold Production per 1,000 Shares (oz) Consensus P/NAV

1.8

1.21.0 0.9

0.7 0.70.4 0.4

0.3 0.2

Ric

hmon

t

Klon

dex

Guy

ana

Gol

dfie

lds

Prim

ero

Argo

naut

Prem

ier

Gol

d

Wes

dom

e

Tera

nga

Rox

gold

Tim

min

sG

old

20RIC: TSX NYSE

20

Long-term value

Quality asset base in CanadaGrowingproduction profileSignificant exploration potential

Capital discipline & shareholder returns

Lowshares outstandingDecreasingcost structureMaximizing per share valuation

Cash focus

Strong Balance sheetFavourableCAD$ exposureGrowingcash flow streams

ESTABLISHED CANADIAN GOLD PRODUCERPOSITIONING FOR SUSTAINABLE GROWTH

ontario

www.richmont-mines.com

APPENDIX

22RIC: TSX NYSE

22

MÉLISSA TARDIFLLB

Lawyer and Corporate Secretary

RICHMONT MINESMANAGEMENT TEAM

RENAUD ADAMSP. ENGPresident andChief Executive Officer

STEVE BURLETONCFA, MBA

Vice-President,Business Development

ROB CHAUSSECPA, CA

Chief Financial Officer

CHRISTIAN BOURCIERP. ENGVice-President,Operations

NICOLE VEILLEUXCPA, CAVice-PresidentFinance

ANNE DAYMBA, ICD.DSenior Vice-President,Investor Relations

DANIEL ADAMGEO PHDVice-PresidentExploration

23RIC: TSX NYSE

23

RENÉ MARIONP. ENG

Chairman of the Board and Chair of the Technical and Corporate Responsibility Committee

MICHAEL PESNERCA

Director and Chairof the Audit Committee

RENAUD ADAMSP. ENG

Director, President andChief Executive Officer

PETER BARNESCA

Director and Chair of the Human Resources and Compensation Committee

ELAINE ELLINGHAMP. Geo., MBA

Director and Chair of the Governance and Nominating Committee

RICHMONT MINESBOARD OF DIRECTORS

24RIC: TSX NYSE

24

1. Mineral Resources presented are exclusive of Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.2. In 2016, based on a gold price of CAN$1,500/oz; in 2015, based on a gold price of US$1,080/oz and an exchange rate of CAN$1.2037 = US$1.00.3. Underground Mineral Resources established as of December 31, 2012.4. Monique Mineral Resources are located underground directly below the open-pit.5. The Francoeur Mine closed in November 2012 and was sold in 2016.

Richmont Mines 2016 Mineral Reserve and Resource Estimates

December 31, 2016 December 31, 2015Tonnes Grade Gold

OuncesTonnes Grade Gold

Ounces(metric) (g/t Au) (metric) (g/t Au)ISLAND GOLD MINEProven Reserves2 573,000 8.68 159,800 363,500 7.53 87,900Probable Reserves2 1,978,000 9.31 592,400 1,752,000 8.41 473,800Total Proven & Probable Reserves2 2,551,000 9.17 752,200 2,115,500 8.26 561,700Measured Resources 33,500 4.94 5,350 7,500 5.80 1,350Indicated Resources 445,500 6.01 86,100 341,000 6.42 70,350Total Measured & Indicated Resources 479,000 5.94 91,450 348,500 6.40 71,700Total Inferred Resources 3,042,000 10.18 995,700 2,815,000 8.49 768,050BEAUFOR MINE4

Proven Reserves2 32,000 6.77 7,010 35,600 7.31 8,350Probable Reserves2 171,500 6.87 37,910 266,500 6.48 55,500Total Proven and Probable Reserves 203,500 6.86 44,920 302,100 6.57 63,850Measured Resources 53,000 6.27 10,700 109,000 5.32 18,600Indicated Resources 300,000 7.57 73,000 734,000 6.50 153,300Total Measured & Indicated Resources 353,000 7.37 83,700 843,000 6.34 171,900Total Inferred Resources 36,000 6.44 7,500 135,000 6.44 28,000MONIQUE MINE5

Indicated Resources 107,500 4.88 16,850 107,500 4.88 16,850WASAMAC GOLD PROPERTY6

Measured Resources 3,124,500 2.75 276,550 3,124,500 2.75 276,550Indicated Resources 12,127,000 2.89 1,125,700 12,127,000 2.89 1,125,700Total Measured & Indicated Resources 15,251,500 2.86 1,402,250 15,251,500 2.86 1,402,250Total Inferred Resources 18,759,000 2.66 1,605,400 18,759,000 2.66 1,605,400FRANCOEUR GOLD PROPERTY6, 7

Measured Resources - - - 40,000 5.89 7,600Indicated Resources - - - 280,000 6.55 59,000Total Measured & Indicated Resources - - - 320,000 6.47 66,600Total Inferred Resources - - - 18,000 7.17 4,150TOTAL RESERVES AND RESOURCESProven & Probable Reserves 2,754,500 9.00 797,120 2,417,600 8.05 625,550Measured & Indicated Resources 16,191,000 3.06 1,594,250 16,870,500 3.19 1,729,300Inferred Resources 21,837,000 3.72 2,608,600 21,727,000 3.44 2,405,600

RICHMONT MINESMINERAL RESERVES AND RESOURCES

25RIC: TSX NYSE

25

Firm Name % O/S Shares Held CityVan Eck Associates Corporation 12.96 8,168,700 New YorkRenaissance Technologies LLC 6.13 3,863,000 New YorkRBC Global Asset Management Inc. 6.11 3,850,000 TorontoConnor, Clark & Lunn Investment Management Ltd. 4.05 2,550,000 Vancouver1832 Asset Management L.P. 3.91 2,466,900 TorontoBMO Asset Management Inc. 3.13 1,975,600 TorontoSentry Investments Inc. 2.96 1,864,400 TorontoSprott Asset Management LP 2.96 1,863,536 TorontoTocqueville Asset Management LP 2.87 1,810,500 New YorkMontrusco Bolton Investments Inc. 2.58 1,628,676 MontrealOppenheimerFunds, Inc. 2.52 1,590,000 New YorkCIBC Asset Management Inc. 2.17 1,370,260 MontrealManulife Asset Management Limited 1.98 1,250,000 TorontoMackenzie Financial Corporation 1.92 1,213,000 TorontoFonds de Solidarité FTQ 1.56 985,600 MontrealEterna Investment Management Inc. 1.41 888,600 Quebec CityBlackRock Asset Management Canada Limited 1.39 875,000 TorontoZPR Investment Management Inc. 1.29 812,020 Orange CityBlackRock Institutional Trust Company, N.A. 1.19 750,000 San FranciscoGWL Investment Management Ltd. 1.17 734,337 WinnipegGabelli Funds, LLC 1.14 720,000 RyeGreystone Managed Investments Inc. 1.09 687,970 ReginaDimensional Fund Advisors, L.P. 1.07 675,000 AustinO'Shaughnessy Asset Management, LLC 1.03 650,579 StamfordArrowstreet Capital, Limited Partnership 1.03 650,000 Boston

As of Mar 29, 2017. Source: Nasdaq IR Insight

RICHMONT MINESTOP INSTITUTIONAL SHAREHOLDERS

26RIC: TSX NYSE

26

2000 100

meters

14000mE

4400m

4900m

3900m

W EGOUDREAULOCHALSH ISLAND EXT1 EXT2

- 1,000 m

- 500 m

Crown pillar

- 1,500 m 15,0

00 m

E

16,0

00 m

E

620 m LevelExploration drift

14,0

00 m

E

Surface

200 m

Cut off (4.0g/t Au / 2.0m)

32760

30

15

7.5

0

Au Metal FactorGrade (Au g/t, cut 95g) x true width (m)

GD-620-0124.57/1.26

GD-14-01C19.87/3.93

MH1-120.38/2.31 MH3-2

8.70/11.93

GD-630-0131.19/3.43

740 m Level driftGD-590-0510.55/2.46

620-556-0421.0/2.78

MH3-612.49/2.19

MH1-618.63/6.60

MH1-79.11/4.12

MH1-511.72/4.8

MH2A18.03/5.7

340-588-019.99/6.65

340-580-1115.27/1.64

MH3-56.03/7.07

340-588-074.39/5.34

340-580-095.47/9.00

GD-590-0233.32/2.6

190 m Level

340 m Level

ISLAND GOLD MINEC ZONE – GOLD METAL FACTOR (grade x true width)July 6, 2016

27RIC: TSX NYSE

27

New capping 225 g/t Au

Assays Island C Lower

ISLAND GOLD MINENEW CAPPING/ISLAND C LOWER ZONE July 6, 2016

28RIC: TSX NYSE

28

New capping 225 g/t Au

Assays Island C LowerLog Normal Probability Plot

ISLAND GOLD MINENEW CAPPING/ISLAND C LOWER ZONE December 31, 2016

29RIC: TSX NYSE

29

ISLAND GOLD MINEWESTERN LATERAL EXPLORATION

30RIC: TSX NYSE

30

(1) Refer to full 2014 Reserve and Resource information at the end of this presentation

Resources TonnesGrade

(g/t Au)Gold

Ounces

Measured Resources 3,124,500 2.75 276,550

Indicated Resources 12,127,000 2.89 1,125,700

Inferred Resources 18,759,000 2.66 1,605,400

Base case parameters: Gold price per ounce of US$1,300 or C$1,350 using a C$:US$ exchange rate of 1.04.

March 2012 PEA Summary (C$)Mine life 14Daily mine production (tpd) 6,000

Total Production (Koz) 1,750

Average annual gold production (Koz) 140

Average cash operating cost (C$/t) 46

Average cash operating cost (C$/oz) 716

Total Capital (C$M) 680

NPV5% (C$M) 71

IRR(5%) (%) 7

• IRR of 14% at C$1,650/oz. gold • (current 60-day avg. of ~C$1,660/oz)

• Potential to improve base case economics

• Potential technical and operational enhancements

• Abitibi gold mining district

• 15km west of Rouyn-Noranda, Quebec

• 100% owned, no royalties

• Close proximity to existing infrastructure

• Significant exploration potential

• NI 43-101 PEA released in March 2012

WASAMACADVANCED DEVELOPMENT PROJECT

31RIC: TSX NYSE

31

RICHMONT MINES ASSETSVALD’OR AREA – EXPLORATION PROPERTIES

32RIC: TSX NYSE

32

RICHMONT MINES ASSETSTIMMINS AREA / EXPLORATION PROPERTIES

33RIC: TSX NYSE

33

Our vision is to become a leading intermediate gold producer focused on the

Americas generating superior per share valuation. We are committed to a “SustainableBusiness Model” and a strategy of long-term growth, and will fully utilize theCorporation’s strong balance sheet, assets, cash flow, capital structure and theextensive experience of the Corporations’ Board of Directors and Management Team tobuild the next leading Canadian based intermediate gold company.

Our strategy in the short term, will focus on becoming a leading junior gold

producer by maintaining at all times a superior per share position on operational & financial metrics while maintaining a sustainable and risk adverse approach under a“Sustainable Business Model”.

We are guided by our core corporate values to achieve long term value for all of

our stakeholders. By cultivating a culture of responsible performance, we are focusedon operating in a sustainable manner while holding ourselves accountable to all of ourstakeholders.

RICHMONT MINESOUR VISION AND STRATEGY

34RIC: TSX NYSE

34

RICHMONT MINESOUR VALUES

35RIC: TSX NYSE

35

We believe in developing Richmont based on the principles of sustainability,in order to deliver sustainable andsuperior value for all stakeholderswith low risk exposureto precious metals.

Human ResourcesMaking work life sustainable through

employee health & safety and wellness programs, improved supervisory & operational

planning/implementation practices and skills through training programs. Develop potential

leadership abilities through leadership program. Promote Life in Balance; family, work and

personal development.

Sustainable

SustainableCommunity DevelopmentLeadership and consulting skills for promoting comprehensive change

toward sustainability in communities and developing world-class relationships

with Aboriginal communities.

SustainableProcess Improvement

Reducing inefficiency and waste through quality & performance management by implementation of “Lean” methods and balanced score card approach. Advanced knowledge and experience with energy efficiency,sustainable waste systems & construction/ building practices.

SustainableGrowth Principles

Developing sustainable exploration, development, operational and financial practices in order to deliver superior per share value, mitigation/management of risk exposure and discipline approach toward preserving best-in-class balance sheet and capital structure.

RICHMONT MINESSUSTAINABLE BUSINESS MODEL

www.richmont-mines.com