Golden Star Enters into Financing Facility

TORONTO, March 30, 2017 /PRNewswire/ – Golden Star Resources Ltd. (NYSE MKT: GSS; TSX: GSC; GSE: GSR) (“Golden Star” or the “Company”) announces that its subsidiary, Golden Star (Wassa) Limited (“GSWL”), has signed a commitment letter for a $25 million secured loan facility (the “Facility”) with Ecobank Ghana Limited (“Ecobank”).

GSWL has twelve months from the date of the commitment letter to drawdown the Facility, if it wishes to do so, and the Facility will be repayable within 60 months of initial drawdown. There are no early prepayment penalties. Interest on amounts drawn under the Facility would be payable monthly at three month LIBOR plus a spread of 8.0% payable in arrears.

The Company anticipates that any drawdowns from the Facility would be used for general working capital purposes.

Sam Coetzer, President and Chief Executive Officer of Golden Star, commented:

“Arranging this financing facility is another building block in Golden Star’s transition into a low risk, mid-tier gold producer. We are continuing to strengthen the Company on all fronts and ensuring we have access to low cost capital in advance of any such need is part of this process.”

All monetary amounts refer to United States dollars unless otherwise indicated.

Company Profile

Golden Star is an established gold mining company that owns and operates the Wassa and Prestea mines situated on the prolific Ashanti Gold Belt in Ghana, West Africa. Listed on the NYSE MKT, the TSX, and the GSE, Golden Star is strategically focused on increasing operating margins and cash flow through the development of its two high grade, low cost underground mines both in conjunction with existing open pit operations. The Wassa Underground Gold Mine commenced commercial production in January 2017 and the Prestea Underground Gold Mine is expected to achieve commercial production in mid-2017. Gold production in 2017 is expected to be 255,000-280,000 ounces with cash operating costs of $780-860 per ounce.

Cautionary note regarding forward-looking information

Some statements contained in this news release are “forward looking information” within the meaning of Canadian securities laws and “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such words and phrases (including negative or grammatical variations) or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. . Forward looking statements and information include, but are not limited to, statements and information regarding: the use of drawdowns under the Facility; the timing of the commencement of commercial production at the Prestea Underground Gold Mine; 2017 production guidance; and the ability to transition into a high grade, low cost producer. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks, assumptions and uncertainties that could cause actual facts to differ materially. Factors that could cause actual results to differ materially include: risks related to international operations, including economic and political instability in foreign jurisdictions in which Golden Star operates; risks related to current global financial conditions; actual results of current exploration activities; environmental risks; future prices of gold; possible variations in mineral reserves, grade or recovery rates; mine development and operating risks; accidents, labor disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities and risks related to indebtedness and the service of such indebtedness. There can be no assurance that future developments affecting the Company will be those anticipated by management. Please refer to the discussion of these and other factors in Management’s Discussion and Analysis of financial conditions and results of operations for the year ended December 31, 2016. Additional and/or updated factors will be included in our annual information form for the year ended December 31, 2016 which will be filed on SEDAR at www.sedar.com. The forecasts contained in this press release constitute management’s current estimates, as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as new information is received. While we may elect to update these estimates at any time, we do not undertake to update any estimate at any particular time or in response to any particular event.

SOURCE Golden Star Resources Ltd.

Richmont Mines Provides Exploration and Delineation Drilling Update for the Island Gold Mine; New High Grade Mineralization Identified: 20.6 g/t of gold over 11.3 metres (core length) in the Eastern Lateral Extension

TORONTO, March 30, 2017 /PRNewswire/ – Richmont Mines Inc. (TSX: RIC) (NYSE: RIC) („Richmont” or the „Corporation”), is pleased to provide an update from its strategic exploration and delineation drilling program currently underway at the cornerstone Island Gold Mine. Recent exploration drilling has identified new high-grade mineralization located approximately 800 metres east of the main Island Gold deposit with hole GD-640-05 intersecting 20.6 g/t gold over 11.3 metres (core length). All results are reported with estimated true width, unless otherwise indicated, and high-grade assays are capped at 225 g/t gold for the Lower C zone and 70 g/t for the E1E zone, the main mineralized zone east of the second dyke.

„Results from the strategic drilling program at the Island Gold Mine continue to demonstrate the significant near-term potential of this high quality deposit. In the eastern lateral extension, drilling has identified a new mineralized zone in the down plunge extension of a high-grade trend that was identified in 2016. This new area is located only 500 metres east and below the new resource blocks, which indicates that the structure could continue at depth.” stated Renaud Adams, CEO. He continued, „The early results from our delineation drilling in the Expansion Case PEA area indicate the significant potential to further expand our reserves at higher than current average grades. In 2017 we will continue to advance our systematic drilling program with an overall focus on positively impacting our near-term mine life and identifying the next million ounces of resources outside the Expansion Case PEA area.”

2017 DRILLING PROGRAM – ISLAND GOLD MINE (Figure 1)

The 2016 delineation drilling program contributed to a 34% increase in reserves at an 11% higher grade, while the exploration program delivered more than 450,000 ounces of new inferred resources at a cost of less than $35 per ounce discovered. As of December 31, 2016, the Island Gold Mine increased its reserve base to 752,200 ounces of gold at a higher grade of 9.17 g/t, while inferred resources increased to 995,700 ounces of gold at a higher grade of 10.18 g/t.

The 2017 drilling program currently underway continues to build on positive results achieved in 2016 and is focused on three key priorities: 1) to expand near-mine resources outside the Expansion Case PEA area, both laterally and at depth; 2) to further expand the reserve base, primarily within the Expansion Case PEA area; and 3) continuing to test high priority regional gold targets across the prospective Island Gold Mine property.

Eastern Lateral Exploration and Infill Drilling Program (Figure 2)

The 2016 drilling program successfully added two new inferred resource blocks in the eastern lateral extension, approximately 300 metres east of the Expansion Case PEA area, between the 340 and the 750 metre levels. The largest inferred resource block contains approximately 290,000 tonnes at a grade of 10.35 g/t of gold (approximately 95,000 ounces of gold). These two new blocks are relatively shallow and easily accessible from the existing mine infrastructure. As a result, the 2017 exploration program is following up on the eastern lateral extension area, particularly on a high-grade intersection (Hole GD-630-01) of 25.27 g/t gold over 3.85 metres located approximately 500 metres east of the new resource blocks that was identified in 2016, and continues to target the extension and infill of the new resource blocks.

Recent drilling in the eastern lateral extension has been focused in the down plunge extension of Hole GD-630-01. Highlights include:

One directional drill rig has been redeployed to this area to follow-up on the exploration success in this area. The initial 2017 directional drill hole (GD-640-05-1) was completed between holes GD-640-04 and GD-640-05 noted above, and intersected two high-grade intervals at the same elevation, but located 40 to 50 metres north of GD-640-05. The first interval intersected 16.1 g/t gold (28.13 g/t uncut) over a core length of 8.33 metres and the second intersected 10.16 g/t gold (17.32 g/t uncut) over a core length of 5.74 metres. Additional drilling will be required to better understand the geometry and true width of this new area of high-grade mineralization. This new discovery represents significant upside to the potential extension of the eastern lateral corridor. A second directional drill rig will be added to accelerate drilling in this area.

Exploration and infill drilling has continued from the 340 metre level exploration drift that targets a potential extension and infill of the current resource blocks that were identified in 2016. One drill rig is working in the area and another drill rig will be added on the 620 metre level once the 300 metre extension of the exploration drift is completed in the second half of the year.

Recent highlights from Eastern Lateral exploration and infill drilling from the 340 metre level exploration drift (subsequent to the October 12, 2016 exploration press release), include (Table 2):

A total of 8,232 metres (33 holes) of exploration and infill drilling of the planned 37,000 metres have been completed to date in the eastern lateral area.

Deep Directional Exploration Drilling Program Highlights: (Figure 3)

The successful 2016 deep drilling program identified a new large inferred resource block of 760,000 tonnes at a grade of 9.53 g/t gold (approximately 230,000 ounces) in the eastern down plunge extension, located between the 1,050 and the 1,300 metre levels.

The deep directional exploration drilling program continues in 2017 and targets the expansion of the new resource block. A total of 16,000 metres of deep directional drilling and 20,000 metres of underground drilling are planned in 2017. The underground drilling will be primarily completed from the 860 metre level exploration drift (400 metre length) that is scheduled to be completed in 2017.

Results to date continue to be encouraging with Hole MH1-10 intersecting 24.5 g/t gold over 3.76 metres. In the eastern portion of this area, Hole MH8 intersected 4.6 g/t gold over 2.24 metres, demonstrating that the mineralization remains open to the east.

In the western area, mineralized zones were intersected and additional drilling is required to better understand the structural geology at depth, however these new zones increase the overall potential of the down plunge extension and provide new high quality targets for follow up drilling.

A total of 5,052 metres (10 holes) have been drilled to date and three surface directional drill rigs are presently working in this area.

Other highlights from the deep directional exploration and infill drilling include (Table 3):

EXPANSION CASE PEA DELINEATION DRILLING PROGRAM (Figure 4)

For 2017, a total of 30,000 metres of delineation drilling is planned within the Expansion Case PEA area, primarily in the fourth mining horizon located between the 860 and 1,000 metre levels. Currently, two drill rigs are working in the area and a total of 6,866 metres (40 holes) have been completed to date.

Drilling continues to demonstrate the potential for additional reserve growth, including ounces and grade, primarily through the conversion of the high-grade inferred resources located in the fourth horizon. Results to date also demonstrate the potential to identify additional resources as high-grade mineralization continues to be intersected between the inferred resource blocks.

Recent drilling highlights from delineation and infill drilling completed within the Expansion Case PEA area, which have not been included in the December 2016 Resource and Reserve update include (Table 1):

Phase 2 Regional Drilling Program

The Phase 2 regional drilling program is designed to continue to evaluate the potential extension of the mineralization below the Kremzar mine as well as other previously identified high-priority gold targets located elsewhere on the highly prospective 77 km2 Island Gold property. The Phase 2 regional drilling program is expected to begin later in 2017.

Qualified Persons

The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by Daniel Adam P. Geo., Ph.D., Richmont’s Vice-President, Exploration, a Qualified Person as defined by NI 43-101.

Quality Control

Assays for the exploration drilling were done at LabExpert in Rouyn-Noranda. Mineralized zones samples will be resent for verification to an accredited laboratory. The Corporation inserts at regular intervals quality control (QC) samples (blanks and reference materials) to monitor laboratory performance.

About Richmont Mines Inc.

Richmont Mines currently produces gold from the Island Gold Mine in Ontario, and the Beaufor Mine in Quebec. The Corporation is also advancing development of the significant high-grade resource extension at depth of the Island Gold Mine in Ontario. With 35 years of experience in gold production, exploration and development, and prudent financial management, the Corporation is well-positioned to cost-effectively build its Canadian reserve base and to successfully enter its next phase of growth.

Forward-Looking Statements
This news release contains forward-looking statements that include risks and uncertainties. When used in this news release, the words „estimate”, „project”, „anticipate”, „expect”, „intend”, „believe”, „hope”, „may”, „objective” 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 on current expectations and apply only as of the date on which they were made. Except as may be required by law or regulation, the Corporation undertakes no obligation and disclaims any responsibility to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.

The factors that could cause actual results to differ materially from those indicated in such forward-looking statements include, without limitation, changes in the prevailing price of gold, the Canadian-United States exchange rate, grade of ore mined and unforeseen difficulties in mining operations that could affect revenue and production costs. Other factors such as uncertainties regarding government regulations and the failure of our exploration drilling programs to identify significant new resources or targets or expand existing resources could also affect the results. Other risks are set out in Richmont’s Annual Information Form, Annual Reports and periodic reports. The forward-looking information contained herein is made as of the date of this news release.

Cautionary note to US investors concerning resource estimates
Information in this press release is intended to comply with the requirements of the Toronto Stock Exchange and applicable Canadian securities legislation, which differ in certain respects with the rules and regulations promulgated under the United States Securities Exchange Act of 1934, as amended („Exchange Act”), as promulgated by the SEC. The requirements of National Instrument 43-101 – Standards of Disclosure for Mineral Projects („NI 43-101) adopted by the Canadian Securities Administrators differ significantly from the requirements of the United States Securities and Exchange Commission (the „SEC”).

U.S. Investors are urged to consider the disclosure in our annual report on Form 20-F, File No. 001-14598, as filed with the SEC under the Exchange Act, which may be obtained from us (without cost) or from the SEC’s web site: http://sec.gov/edgar.shtml.

Tables of Drill Results

SOURCE Richmont Mines

Noble Enters Binding Letter of Intent to Vend its Wawa-Holdsworth Project Interest to MacDonald Mines

Toronto, Ontario / TheNewswire / March 30, 2017 – Noble Mineral Exploration Inc. („Noble” or the „Company”) (TSX-V:NOB, FRANKFURT: NB7, OTC.PK:NLPXF) is pleased to announce that it has signed a binding Letter of Intent („LOI”) with MacDonald Mines Exploration Ltd. (TSX-V: BMK) („MacDonald Mines”, „MacDonald”) to acquire all of Noble’s interest in the Holdsworth property (the „Property”), located 25 kilometres northeast of Wawa, Ontario. MacDonald previously entered into an Option and Joint Venture („JV”) agreement with Noble on December 7, 2016 to advance exploration on the Holdsworth property. The LOI supersedes the JV agreement.

LOI Highlights

To acquire a 100% interest in the Holdsworth property, MacDonald Mines agreed under the LOI to:

  • -Issue 5,500,000 MacDonald units, each unit consisting of one Class A common share of MacDonald and one non-transferable Class A common share purchase warrant of MacDonald exercisable at $0.30 per share for a period of three years from the date of issuance.

  • -Grant Noble a 1.5% net smelter return royalty (the „NSR”) on the Holdsworth property, with MacDonald having the right to re-purchase one half of the NSR for $500,000 at any time.

    -Pay the equivalent of 5,000 ounces of gold equivalent to Noble once MacDonald has extracted, refined and sold a minimum of 50,000 ounces of gold from the oxide sands portion of the Property.

Quentin Yarie, MacDonald’s President and CEO commented: „In the few months our team has worked on the Holdsworth property, we’ve determined that there is a good potential for gold extraction there. We’ve already initiated a bulk sampling program of the oxides sands-the main gold target on the property. Securing 100% interest ensures that MacDonald can continue to aggressively advance the Wawa-Holdsworth Project and significantly increase shareholder value.

Vance White, Noble’s President and CEO commented: „By vending the balance of the Wawa Holdsworth interest Noble will become a significant shareholder in MacDonald, have a potential gold streaming revenue stream and an ongoing NSR over the entire project area whilst allowing MacDonald to aggressively proceed with the plans for an oxide sand bulk sampling program and follow up to the newly discovered gold bearing shear zone reported in a news release dated December 13, 2016. This will allow Noble to focus on Project 81, where we plan an Airborne Gravity Gradiometer Survey over the entire ~70,000 Hectare Project Area as well as an airborne EM/Mag survey over the two southern townships (Carnegie and Crawford) which sit immediately north of the world class Kidd Creek mine of Exstrada celebrating its fiftieth year of production”.

Randy Singh P.Geo(ON), P.Eng (ON), VP Exploration & Project Development of Noble and a „qualified person” as such term is defined by National Instrument 43-101 has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of the Company.

About MacDonald Mines Exploration Ltd.

MacDonald Mines Exploration Ltd. is a mineral exploration company headquartered in Toronto, Ontario focused on gold and silica exploration in Canada. The Company has built a portfolio of safe-jurisdiction, infrastructure-rich projects that demonstrate the greatest market potential for return. The Company is aggressively advancing its highly prospective Wawa-Holdsworth Project and Charlevoix Silica Property.

Wawa-Holdsworth Project Highlights:

  • -Approximately 285 hectares, 20 kilometres northeast of the town of Wawa

    -Neighbouring Argonaut’s >6Moz gold Magino Deposit & Richmont’s >1Moz gold Island Gold Mine;

    -Numerous gold showings with diversified mineralization styles occurring in a 500 metres-wide deformation corridor;

    -Lode Gold in traditional quartz veins, known as the „The Soocana Vein;

    -an oxidized cap at surface developed over a massive pyrite zone (Algoma Iron Formation) known as the „The Oxide Sands”;

    -the precursor to the Oxide Sands – a massive pyrite zone (Algoma Iron Formation) at depths, known as „The Massive Sulphide”;

    -Year-long road access and easy access to rail, road, electrical power, labour force and suppliers;

    -Fee simple absolute ownership of both surface and mineral rights property-wide facilitates the early and advanced exploration process and timelines.

The Company’s common shares trade on the TSX Venture Exchange under the symbol „BMK”.

About Noble Mineral Exploration Inc.:

Noble Mineral Exploration Inc. is a Canadian based junior exploration company holding in excess of 70,641 hectares of mineral rights in the Timmins – Cochrane areas of Northern Ontario. The Company also holds a portfolio of diversified exploration projects at various stages of exploration Gold in the Wawa area of Northern Ontario, and Uranium in Northern Saskatchewan. More detailed information is available on the website at www.noblemineralexploration.com.

Cautionary Statement:

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company’s plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts:

H. Vance White, President

Phone: 416-214-2250

Fax: 416-367-1954

Email: info@noblemineralexploration.com

Investor Relations

Email: ir@noblemineralexploration.com

Richmont Mines Provides Exploration and Delineation Drilling Update for the Island Gold Mine; New High Grade Mineralization Identified: 20.6 g/t of Gold Over 11.3 Metres (Core Length) in the Eastern Lateral Extension

TORONTO, March 30, 2017 /PRNewswire/ —

Richmont Mines Inc. (TSX: RIC) (NYSE: RIC) (“Richmont” or the “Corporation”), is pleased to provide an update from its strategic exploration and delineation drilling program currently underway at the cornerstone Island Gold Mine. Recent exploration drilling has identified new high-grade mineralization located approximately 800 metres east of the main Island Gold deposit with hole GD-640-05 intersecting 20.6 g/t gold over 11.3 metres (core length). All results are reported with estimated true width, unless otherwise indicated, and high-grade assays are capped at 225 g/t gold for the Lower C zone and 70 g/t for the E1E zone, the main mineralized zone east of the second dyke.

“Results from the strategic drilling program at the Island Gold Mine continue to demonstrate the significant near-term potential of this high quality deposit. In the eastern lateral extension, drilling has identified a new mineralized zone in the down plunge extension of a high-grade trend that was identified in 2016. This new area is located only 500 metres east and below the new resource blocks, which indicates that the structure could continue at depth.” stated Renaud Adams, CEO. He continued, “The early results from our delineation drilling in the Expansion Case PEA area indicate the significant potential to further expand our reserves at higher than current average grades. In 2017 we will continue to advance our systematic drilling program with an overall focus on positively impacting our near-term mine life and identifying the next million ounces of resources outside the Expansion Case PEA area.”

2017 DRILLING PROGRAM ISLAND GOLD MINE (Figure 1)

The 2016 delineation drilling program contributed to a 34% increase in reserves at an 11% higher grade, while the exploration program delivered more than 450,000 ounces of new inferred resources at a cost of less than $35 per ounce discovered. As of December 31, 2016, the Island Gold Mine increased its reserve base to 752,200 ounces of gold at a higher grade of 9.17 g/t, while inferred resources increased to 995,700 ounces of gold at a higher grade of 10.18 g/t.

The 2017 drilling program currently underway continues to build on positive results achieved in 2016 and is focused on three key priorities: 1) to expand near-mine resources outside the Expansion Case PEA area, both laterally and at depth; 2) to further expand the reserve base, primarily within the Expansion Case PEA area; and 3) continuing to test high priority regional gold targets across the prospective Island Gold Mine property.

Eastern Lateral Exploration and Infill Drilling Program (Figure 2)

The 2016 drilling program successfully added two new inferred resource blocks in the eastern lateral extension, approximately 300 metres east of the Expansion Case PEA area, between the 340 and the 750 metre levels. The largest inferred resource block contains approximately 290,000 tonnes at a grade of 10.35 g/t of gold (approximately 95,000 ounces of gold). These two new blocks are relatively shallow and easily accessible from the existing mine infrastructure. As a result, the 2017 exploration program is following up on the eastern lateral extension area, particularly on a high-grade intersection (Hole GD-630-01) of 25.27 g/t gold over 3.85 metres located approximately 500 metres east of the new resource blocks that was identified in 2016, and continues to target the extension and infill of the new resource blocks.

Recent drilling in the eastern lateral extension has been focused in the down plunge extension of Hole GD-630-01. Highlights include:

  • Hole GD-640-05 intersected 20.57 g/t (26.55 g/t uncut) of gold over a core length of 11.3 metres, at a vertical depth of approximately 1,000 metres;
  • Hole GD-640-04, located approximately 150 metres above hole GD-640-05, intersected 7.38 g/t gold over 3.27 metres.

One directional drill rig has been redeployed to this area to follow-up on the exploration success in this area. The initial 2017 directional drill hole (GD-640-05-1) was completed between holes GD-640-04 and GD-640-05 noted above, and intersected two high-grade intervals at the same elevation, but located 40 to 50 metres north of GD-640-05. The first interval intersected 16.1 g/t gold (28.13 g/t uncut) over a core length of 8.33 metres and the second intersected 10.16 g/t gold (17.32 g/t uncut) over a core length of 5.74 metres. Additional drilling will be required to better understand the geometry and true width of this new area of high-grade mineralization. This new discovery represents significant upside to the potential extension of the eastern lateral corridor. A second directional drill rig will be added to accelerate drilling in this area.

Exploration and infill drilling has continued from the 340 metre level exploration drift that targets a potential extension and infill of the current resource blocks that were identified in 2016. One drill rig is working in the area and another drill rig will be added on the 620 metre level once the 300 metre extension of the exploration drift is completed in the second half of the year.

Recent highlights from Eastern Lateral exploration and infill drilling from the 340 metre level exploration drift (subsequent to the October 12, 2016 exploration press release), include (Table 2):

  • Hole 340-576-02: 8.50 g/t gold over 2.00 metres;
  • Hole 340-588-08: 14.96 g/t gold over 2.00 metres;
  • Hole 340-588-11: 10.10 g/t gold over 3.00 metres;
  • Hole 340-588-12: 10.24 g/t gold over 3.00 metres;
  • Hole 340-588-13: 33.60 g/t gold over 2.00 metres;
  • Hole 340-588-14: 10.60 g/t gold over 2.00 metres;
  • Hole 340-588-15: 11.44 g/t gold over 4.36 metres.

A total of 8,232 metres (33 holes) of exploration and infill drilling of the planned 37,000 metres have been completed to date in the eastern lateral area.

Deep Directional Exploration Drilling Program Highlights: (Figure 3)

The successful 2016 deep drilling program identified a new large inferred resource block of 760,000 tonnes at a grade of 9.53 g/t gold (approximately 230,000 ounces) in the eastern down plunge extension, located between the 1,050 and the 1,300 metre levels.

The deep directional exploration drilling program continues in 2017 and targets the expansion of the new resource block. A total of 16,000 metres of deep directional drilling and 20,000 metres of underground drilling are planned in 2017. The underground drilling will be primarily completed from the 860 metre level exploration drift (400 metre length) that is scheduled to be completed in 2017.

Results to date continue to be encouraging with Hole MH1-10 intersecting 24.5 g/t gold over 3.76 metres. In the eastern portion of this area, Hole MH8 intersected 4.6 g/t gold over 2.24 metres, demonstrating that the mineralization remains open to the east.

In the western area, mineralized zones were intersected and additional drilling is required to better understand the structural geology at depth, however these new zones increase the overall potential of the down plunge extension and provide new high quality targets for follow up drilling.

A total of 5,052 metres (10 holes) have been drilled to date and three surface directional drill rigs are presently working in this area.

Other highlights from the deep directional exploration and infill drilling include (Table 3):

  • Hole MH2A-7: 11.36 g/t gold over a core length of 10.40 metres (Zone X);
  • Hole MH2A-8: 10.37 g/t gold over 9.17 metres;
  • Hole MH2A-10: 6.16 g/t gold over 11.58 metres;
  • Hole MH5-1A: 9.27 g/t gold over 5.93 metres.

EXPANSION CASE PEA DELINEATION DRILLING PROGRAM (Figure 4)

For 2017, a total of 30,000 metres of delineation drilling is planned within the Expansion Case PEA area, primarily in the fourth mining horizon located between the 860 and 1,000 metre levels. Currently, two drill rigs are working in the area and a total of 6,866 metres (40 holes) have been completed to date.

Drilling continues to demonstrate the potential for additional reserve growth, including ounces and grade, primarily through the conversion of the high-grade inferred resources located in the fourth horizon. Results to date also demonstrate the potential to identify additional resources as high-grade mineralization continues to be intersected between the inferred resource blocks.

Recent drilling highlights from delineation and infill drilling completed within the Expansion Case PEA area, which have not been included in the December 2016 Resource and Reserve update include (Table 1):

  • Hole 740-465-08: 43.05 g/t gold over 5.13 metres;
  • Hole 740-465-16: 96.47 g/t gold over 5.08 metres;
  • Hole 740-465-15: 23.29 g/t gold over 3.51 metres;
  • Hole 740-465-20: 24.56 g/t gold over 3.85 metres;
  • Hole 740-483-21: 34.13 g/t gold over 3.53 metres;
  • Hole 820-520-08: 53.64 g/t gold over 6.53 metres;
  • Hole 820-520-13: 30.20 g/t gold over 3.62 metres.

Phase 2 Regional Drilling Program 

The Phase 2 regional drilling program is designed to continue to evaluate the potential extension of the mineralization below the Kremzar mine as well as other previously identified high-priority gold targets located elsewhere on the highly prospective 77 km[2] Island Gold property. The Phase 2 regional drilling program is expected to begin later in 2017.

Qualified Persons 

The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by Daniel Adam P. Geo., Ph.D., Richmont’s Vice-President, Exploration, a Qualified Person as defined by NI 43-101.

Quality Control 

Assays for the exploration drilling were done at LabExpert in Rouyn-Noranda. Mineralized zones samples will be resent for verification to an accredited laboratory. The Corporation inserts at regular intervals quality control (QC) samples (blanks and reference materials) to monitor laboratory performance.

About Richmont Mines Inc. 

Richmont Mines currently produces gold from the Island Gold Mine in Ontario, and the Beaufor Mine in Quebec. The Corporation is also advancing development of the significant high-grade resource extension at depth of the Island Gold Mine in Ontario. With 35 years of experience in gold production, exploration and development, and prudent financial management, the Corporation is well-positioned to cost-effectively build its Canadian reserve base and to successfully enter its next phase of growth.

Forward-Looking Statements
This news release contains forward-looking statements that include risks and uncertainties. When used in this news release, the words “estimate”, “project”, “anticipate”, “expect”, “intend”, “believe”, “hope”, “may”, “objective” 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 on current expectations and apply only as of the date on which they were made. Except as may be required by law or regulation, the Corporation undertakes no obligation and disclaims any responsibility to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.

The factors that could cause actual results to differ materially from those indicated in such forward-looking statements include, without limitation, changes in the prevailing price of gold, the Canadian-United States exchange rate, grade of ore mined and unforeseen difficulties in mining operations that could affect revenue and production costs. Other factors such as uncertainties regarding government regulations and the failure of our exploration drilling programs to identify significant new resources or targets or expand existing resources could also affect the results. Other risks are set out in Richmont’s Annual Information Form, Annual Reports and periodic reports. The forward-looking information contained herein is made as of the date of this news release.

Cautionary note to US investors concerning resource estimates
Information in this press release is intended to comply with the requirements of the Toronto Stock Exchange and applicable Canadian securities legislation, which differ in certain respects with the rules and regulations promulgated under the United States Securities Exchange Act of 1934, as amended (“Exchange Act”), as promulgated by the SEC. The requirements of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101) adopted by the Canadian Securities Administrators differ significantly from the requirements of the United States Securities and Exchange Commission (the “SEC”).

U.S. Investors are urged to consider the disclosure in our annual report on Form 20-F, File No. 001-14598, as filed with the SEC under the Exchange Act, which may be obtained from us (without cost) or from the SEC’s web site: http://sec.gov/edgar.shtml.

Tables of Drill Results 


   
                                           TABLE 1

                                INFILL DELINEATION IN PEA AREA
                                                               Cut

                                             True    Uncut                 Vertical depth
                 Length    From      To     Width    Grade    Grade        of Intersection
    Hole Number (metres) (metres) (metres) (metres) (g/t Au) (g/t Au) Zone    (metres)
    490-525-01     63      46.45   48.75     2.12      6.18     6.18    C         469
    490-525-03     84      61.75   65.50     2.97      6.35     6.35    C         516
    740-465-02    220     160.80   166.25    3.96      9.80     9.80    C         858
    740-465-03    264     128.90   132.60    3.68     38.66    38.66    C         805
    740-465-04    189     129.10   133.10    3.52    161.34    85.33    C         817
     including            129.10   131.80    2.37    238.42   125.82
    740-465-07    249     131.75   138.00    5.12     16.00    16.00    C         790
    740-465-08    186     127.45   133.15    5.13     46.42    43.05    C         801
     including            132.10   133.15    0.94    237.78   219.50
    740-465-09    210     150.55   157.10    5.21      6.21     6.21    C         839
    740-465-15    387     276.29   282.43    3.51     29.78    23.29    C       1,004
     including            281.02   281.50    0.27    308.12   225.00
    740-465-16    255     192.14   200.00    5.08    114.93    96.97    C         900
    740-465-17    345     205.40   210.30    3.44     19.35    19.35    C         919
    740-465-20    393     291.05   299.45    4.61     24.56    24.56    C       1,020
    740-465-21    546     329.75   347.60    6.46      7.48     7.48    C       1,069
    740-465-23    297     223.00   226.65    2.34     61.34    50.84    C         941
     including            224.60   225.35    0.48    276.11   225.00
    740-471-10    270     193.80   210.00    5.60     34.13    18.84    C         909
     including            194.30   195.80    0.52    329.52   164.34
    740-471-13    200     146.80   150.33    2.92      6.28     6.28    C         841
    740-471-14    354     162.47   166.40    3.04      6.17     6.17    C         863
    740-471-16    186     135.84   141.26    4.37     27.47    17.58    C         820
     including            136.38   137.20    0.66    167.79   102.38
    740-471-22    186     163.08   168.12    4.60      6.14     6.14    C         670
    740-471-23    252     159.20   162.60    3.20      6.89     6.89    C         684
    740-471-24    351     318.35   333.10    4.10     13.52    11.28    C       1,030
     including            318.35   321.55    0.89     56.39    46.08
    740-471-31    402     345.06   364.73    8.31     13.26    13.26    C       1,061
    740-471-32    441     335.93   348.56    4.95     13.74    13.74    C       1,058
    740-471-34    420     218.00   226.00    3.42      9.29     9.29    C         939
    740-477-17    270     195.40   203.15    4.14      8.26     8.26    C         892
    740-477-19    231     149.80   158.90    7.71     12.84    12.84    C         840
    740-477-20    210     141.38   148.81    6.52      6.32     6.32    C         820
    740-477-26    225     133.55   142.50    6.60      9.55     9.55    C         741
    740-477-29    600     262.10   276.86    6.04     16.07    16.07    C         973
    740-477-30    312     236.95   243.00    3.29     83.08    60.15    C         939
     including            238.80   241.65    1.55    173.08   124.40
    740-477-33    300     218.80   231.10    6.57     32.47    32.47    C         924
    740-477-36A   192     156.65   161.52    4.53      8.50     8.50    C         720
    740-477-37    405     385.70   399.20    4.95     11.76    11.76    C       1,085
    740-477-40    450     382.49   388.07    2.24     38.62    38.62    C       1,083
    740-477-42    430     351.45   370.50    8.00      9.92     9.92    C       1,059
    740-477-43    383     161.70   169.30    6.20     16.94    16.94    C         847
    740-483-19    245     144.65   147.75    2.85     12.81    12.81    C         769
    740-483-21    402     295.04   303.08    3.53     34.13    34.13    C         989
    740-483-22    381     236.52   242.50    3.46     26.37    26.37    C         930
    800-496-01    162     119.00   123.00    2.53     18.21    18.21    C         903
    800-511-01    189     67.90    74.80     4.72     23.36    23.36    C         858
    800-511-02     87     58.71    68.00     8.60      6.16     6.16    C         823
    800-512-01    138     109.00   115.30    4.28      6.90     6.90    C         833
    800-512-02    186     145.70   156.00    6.39     21.45    16.17    C         897
    800-512-04    170     89.80    105.40    8.79     60.16    60.16    C         859
    800-512-05    189     98.00    109.20    5.92     18.37    18.37    C         875
    820-520-01    153     138.20   141.50    3.28     59.86    52.67    C         816
     including            138.20   139.50    1.29    147.79   129.54
    820-520-08    210     194.11   202.35    6.53     61.01    53.64    C         924
     including            194.52   197.60    2.44    122.76   103.04
    820-520-13    237     213.80   218.80    3.62     34.52    30.20    C         952
     including            217.30   217.85    0.40    264.27   225.00


   
                                            TABLE 2

                        EASTERN LATERAL EXPLORATION AND INFILL DRILLING
                                             True     Uncut     Cut          Vertical depth
                 Length    From      To     Width     Grade    Grade        of Intersection
    Hole Number (metres) (metres) (metres) (metres)  (g/t Au) (g/t Au)  Zone   (metres)
    340-576-01    402     305.00   314.65    2.00      5.17     5.17    E1E         559
    340-576-02    500     435.20   444.13    2.00      9.08     8.50    E1E         663
    340-579-01    258     172.30   176.00    2.57      2.69     2.69    E1E         427
    340-584-01    126     96.10    99.40     3.03      3.19     3.19    E1E         325
    340-584-02    303     110.59   113.96    2.70      1.51     1.51    E1E         353
    340-584-03    160     119.50   126.10    4.87      1.98     1.98    E1E         369
    340-586-06    201     115.22   118.60    2.68      7.63     7.63    E1E         375
     including            118.22   118.60    0.30     59.86    59.86
    340-586-07    273     172.30   176.90    2.00      3.16     3.16    E1E         436
    340-586-08    420     213.10   218.40    2.00      9.50     8.38    E1E         479
     including            214.00   214.50    0.19     81.94    70.00
    340-586-09    430     262.00   272.40    2.00      1.73     1.73    E1E         529
    340-588-08    453     213.00   218.10    2.00     14.96    14.96    E1E         471
    340-588-09    430     302.75   313.45    2.10      3.62     3.62    E1E         554
    340-588-10    150     96.60    99.60     2.51      0.81     0.81    E1E         310
    340-588-11    315     122.37   126.67    3.00     13.90    10.10    E1E         358
     including            125.37   125.87    0.35    102.69    70.00
    340-588-12    255     155.60   160.75    3.00     10.24    10.24    E1E         403
    340-588-13    399     202.60   207.50    2.00     54.28    33.60    E1E         452
    340-588-14    378     264.00   273.70    2.00     17.02    10.60    E1E         516
     including            265.80   266.80    0.21    132.27    70.00
    340-588-15    222     124.42   130.50    4.36     19.84    11.44    E1E         376
     including            125.10   125.90    0.57    133.89    70.00
    340-588-16    453     382.80   395.80    2.00      0.93     0.93    E1E         614
    340-588-17    498     265.00   278.00    3.00      5.54     4.98    E1E         522
     including            272.00   272.50    0.25     84.55    70.00
    340-588-18    321     173.50   178.30    2.30     12.44     5.69    E1E         411
     including            175.10   175.40    0.14    177.98    70.00
     GD-640-01    975     731.60   738.60    4.24      0.08     0.08    E1E         686
     GD-640-02   1,029    779.10   789.20    5.34      3.66     3.66    E1E         756
     GD-640-04   1,050    888.50   894.50    3.27      8.81     7.38    E1E         852
     including            890.20   890.80    0.33     84.31    70.00
     GD-640-05   1,264   1,055.20 1,066.50   11.3c.l. 26.55    20.57    E1E       1,020
     including           1,056.00 1,057.50   1.50    115.11    70.00
    GD-640-05-1  1,500   1,083.20 1,091.53   8.33c.l. 28.13    16.10     X        1,029
     including           1,086.75 1,090.10   3.35c.l. 63.25    33.34
                         1,110.56 1,116.30   5.74c.l. 17.32    10.16     X        1,042
     including           1,110.86 1,111.56   0.7 c.l. 128.71   70.00


   
                                           TABLE 3

                        DEEP DRILLING PROGRAM, EXPLORATION AND INFILL
                                           True      Uncut     Cut           Vertical depth
      Hole     Length    From      To     Width      Grade    Grade         of Intersection
     Number   (metres) (metres) (metres) (metres)   (g/t Au) (g/t Au)  Zone     (metres)
     MH1-10    1,613   1,350.10 1,356.90   3.76       24.54    24.54     C         1,233
    including          1,354.00 1,354.80   0.44      179.67   179.67
     MH2A-7    1,607   1,194.20 1,198.70    4.5c.l     7.17     6.08     X         1,047
                                           10.4
     MH2A-7    1,607   1,241.00 1,251.40   c.l.       11.36    11.36     X         1,085
     MH2A-7    1,607   1,312.90 1,319.47   4.80        4.72     4.72    E1E        1,139
     MH2A-8    1,433   1,278.82 1,289.47   9.17       11.22    10.37    E1E        1,108
    including          1,288.64 1,289.00   0.31       95.21    70.00
     MH2A-9B   1,500   1,299.26 1,306.46   5.89        2.66     2.66    E1E        1,134
     MH2A-10   1,472   1,300.10 1,316.00  11.58       13.25     6.16    E1E        1,169
    including          1,300.50 1,300.80   0.22      383.01    70.00
                       1,315.70 1,316.00   0.22      133.06    70.00
      MH4-4    1,373   1,326.90 1,331.45   3.09        4.10     4.10     C         1,138
     MH4-4B    1,505   1,211.15 1,217.10   5.95c.l.  103.86     5.09     X         1,046
    including          1,216.45 1,216.75    0.3c.l. 2028.91    70.00
      MH4-5    1,628   1,346.96 1,351.10   2.51        4.63     4.63     C         1,177
      MH5-1    1,523   1,082.60 1,084.55   1.95c.l.    4.59     4.59     X          948
     MH5-1A    1,523   1,321.88 1,329.15   5.93        9.27     9.27     C         1,128
    including          1,326.73 1,327.20   0.38      102.07   102.07
      MH5-2    1,529   1,323.58 1,329.43   4.40        5.08     5.08     C         1,132
      MH5-3    1,517   1,383.40 1,388.55   3.81        0.95     0.95     C         1,215
      MH-6     1,857   1,440.50 1,453.05   9.44        0.91     0.91     C         1,261
      MH-8     1,576   1,378.50 1,382.10   2.24        4.60     4.60    E1E        1,195
    High-grade capping values:
    Lower Island C Zone (225 g/t)
    Lower X2-E1E Zone, East Lateral E1E Zone and X Zone (70 g/t Au)

Renaud Adams, President and CEO, Phone: +1-416-368-0291 ext. 101; Anne Day, Senior Vice-President, Investor Relations, Phone: +1-416-368-0291 ext. 105

Richmont Mines Provides Exploration and Delineation Drilling Update for the Island Gold Mine; New High Grade Mineralization Identified: 20.6 g/t of gold over 11.3 metres (core length) in the Eastern Lateral Extension

TORONTO, March 30, 2017 /PRNewswire/ – Richmont Mines Inc. (TSX: RIC) (NYSE: RIC) (“Richmont” or the “Corporation”), is pleased to provide an update from its strategic exploration and delineation drilling program currently underway at the cornerstone Island Gold Mine. Recent exploration drilling has identified new high-grade mineralization located approximately 800 metres east of the main Island Gold deposit with hole GD-640-05 intersecting 20.6 g/t gold over 11.3 metres (core length). All results are reported with estimated true width, unless otherwise indicated, and high-grade assays are capped at 225 g/t gold for the Lower C zone and 70 g/t for the E1E zone, the main mineralized zone east of the second dyke.

“Results from the strategic drilling program at the Island Gold Mine continue to demonstrate the significant near-term potential of this high quality deposit. In the eastern lateral extension, drilling has identified a new mineralized zone in the down plunge extension of a high-grade trend that was identified in 2016. This new area is located only 500 metres east and below the new resource blocks, which indicates that the structure could continue at depth.” stated Renaud Adams, CEO. He continued, “The early results from our delineation drilling in the Expansion Case PEA area indicate the significant potential to further expand our reserves at higher than current average grades. In 2017 we will continue to advance our systematic drilling program with an overall focus on positively impacting our near-term mine life and identifying the next million ounces of resources outside the Expansion Case PEA area.”

2017 DRILLING PROGRAM – ISLAND GOLD MINE (Figure 1)

The 2016 delineation drilling program contributed to a 34% increase in reserves at an 11% higher grade, while the exploration program delivered more than 450,000 ounces of new inferred resources at a cost of less than $35 per ounce discovered. As of December 31, 2016, the Island Gold Mine increased its reserve base to 752,200 ounces of gold at a higher grade of 9.17 g/t, while inferred resources increased to 995,700 ounces of gold at a higher grade of 10.18 g/t.

The 2017 drilling program currently underway continues to build on positive results achieved in 2016 and is focused on three key priorities: 1) to expand near-mine resources outside the Expansion Case PEA area, both laterally and at depth; 2) to further expand the reserve base, primarily within the Expansion Case PEA area; and 3) continuing to test high priority regional gold targets across the prospective Island Gold Mine property.

Eastern Lateral Exploration and Infill Drilling Program (Figure 2)

The 2016 drilling program successfully added two new inferred resource blocks in the eastern lateral extension, approximately 300 metres east of the Expansion Case PEA area, between the 340 and the 750 metre levels. The largest inferred resource block contains approximately 290,000 tonnes at a grade of 10.35 g/t of gold (approximately 95,000 ounces of gold). These two new blocks are relatively shallow and easily accessible from the existing mine infrastructure. As a result, the 2017 exploration program is following up on the eastern lateral extension area, particularly on a high-grade intersection (Hole GD-630-01) of 25.27 g/t gold over 3.85 metres located approximately 500 metres east of the new resource blocks that was identified in 2016, and continues to target the extension and infill of the new resource blocks.

Recent drilling in the eastern lateral extension has been focused in the down plunge extension of Hole GD-630-01. Highlights include:

  • Hole GD-640-05 intersected 20.57 g/t (26.55 g/t uncut) of gold over a core length of 11.3 metres, at a vertical depth of approximately 1,000 metres;
  • Hole GD-640-04, located approximately 150 metres above hole GD-640-05, intersected 7.38 g/t gold over 3.27 metres.

One directional drill rig has been redeployed to this area to follow-up on the exploration success in this area. The initial 2017 directional drill hole (GD-640-05-1) was completed between holes GD-640-04 and GD-640-05 noted above, and intersected two high-grade intervals at the same elevation, but located 40 to 50 metres north of GD-640-05. The first interval intersected 16.1 g/t gold (28.13 g/t uncut) over a core length of 8.33 metres and the second intersected 10.16 g/t gold (17.32 g/t uncut) over a core length of 5.74 metres. Additional drilling will be required to better understand the geometry and true width of this new area of high-grade mineralization. This new discovery represents significant upside to the potential extension of the eastern lateral corridor. A second directional drill rig will be added to accelerate drilling in this area.

Exploration and infill drilling has continued from the 340 metre level exploration drift that targets a potential extension and infill of the current resource blocks that were identified in 2016. One drill rig is working in the area and another drill rig will be added on the 620 metre level once the 300 metre extension of the exploration drift is completed in the second half of the year.

Recent highlights from Eastern Lateral exploration and infill drilling from the 340 metre level exploration drift (subsequent to the October 12, 2016 exploration press release), include (Table 2):

  • Hole 340-576-02: 8.50 g/t gold over 2.00 metres;
  • Hole 340-588-08: 14.96 g/t gold over 2.00 metres;
  • Hole 340-588-11: 10.10 g/t gold over 3.00 metres;
  • Hole 340-588-12: 10.24 g/t gold over 3.00 metres;
  • Hole 340-588-13: 33.60 g/t gold over 2.00 metres;
  • Hole 340-588-14: 10.60 g/t gold over 2.00 metres;
  • Hole 340-588-15: 11.44 g/t gold over 4.36 metres.

A total of 8,232 metres (33 holes) of exploration and infill drilling of the planned 37,000 metres have been completed to date in the eastern lateral area.

Deep Directional Exploration Drilling Program Highlights: (Figure 3)

The successful 2016 deep drilling program identified a new large inferred resource block of 760,000 tonnes at a grade of 9.53 g/t gold (approximately 230,000 ounces) in the eastern down plunge extension, located between the 1,050 and the 1,300 metre levels.

The deep directional exploration drilling program continues in 2017 and targets the expansion of the new resource block. A total of 16,000 metres of deep directional drilling and 20,000 metres of underground drilling are planned in 2017. The underground drilling will be primarily completed from the 860 metre level exploration drift (400 metre length) that is scheduled to be completed in 2017.

Results to date continue to be encouraging with Hole MH1-10 intersecting 24.5 g/t gold over 3.76 metres. In the eastern portion of this area, Hole MH8 intersected 4.6 g/t gold over 2.24 metres, demonstrating that the mineralization remains open to the east.

In the western area, mineralized zones were intersected and additional drilling is required to better understand the structural geology at depth, however these new zones increase the overall potential of the down plunge extension and provide new high quality targets for follow up drilling.

A total of 5,052 metres (10 holes) have been drilled to date and three surface directional drill rigs are presently working in this area.

Other highlights from the deep directional exploration and infill drilling include (Table 3):

  • Hole MH2A-7: 11.36 g/t gold over a core length of 10.40 metres (Zone X);
  • Hole MH2A-8: 10.37 g/t gold over 9.17 metres;
  • Hole MH2A-10: 6.16 g/t gold over 11.58 metres;
  • Hole MH5-1A: 9.27 g/t gold over 5.93 metres.

EXPANSION CASE PEA DELINEATION DRILLING PROGRAM (Figure 4)

For 2017, a total of 30,000 metres of delineation drilling is planned within the Expansion Case PEA area, primarily in the fourth mining horizon located between the 860 and 1,000 metre levels. Currently, two drill rigs are working in the area and a total of 6,866 metres (40 holes) have been completed to date.

Drilling continues to demonstrate the potential for additional reserve growth, including ounces and grade, primarily through the conversion of the high-grade inferred resources located in the fourth horizon. Results to date also demonstrate the potential to identify additional resources as high-grade mineralization continues to be intersected between the inferred resource blocks.

Recent drilling highlights from delineation and infill drilling completed within the Expansion Case PEA area, which have not been included in the December 2016 Resource and Reserve update include (Table 1):

  • Hole 740-465-08: 43.05 g/t gold over 5.13 metres;
  • Hole 740-465-16: 96.47 g/t gold over 5.08 metres;
  • Hole 740-465-15: 23.29 g/t gold over 3.51 metres;
  • Hole 740-465-20: 24.56 g/t gold over 3.85 metres;
  • Hole 740-483-21: 34.13 g/t gold over 3.53 metres;
  • Hole 820-520-08: 53.64 g/t gold over 6.53 metres;
  • Hole 820-520-13: 30.20 g/t gold over 3.62 metres.

Phase 2 Regional Drilling Program

The Phase 2 regional drilling program is designed to continue to evaluate the potential extension of the mineralization below the Kremzar mine as well as other previously identified high-priority gold targets located elsewhere on the highly prospective 77 km2 Island Gold property. The Phase 2 regional drilling program is expected to begin later in 2017.

Qualified Persons

The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by Daniel Adam P. Geo., Ph.D., Richmont’s Vice-President, Exploration, a Qualified Person as defined by NI 43-101.

Quality Control

Assays for the exploration drilling were done at LabExpert in Rouyn-Noranda. Mineralized zones samples will be resent for verification to an accredited laboratory. The Corporation inserts at regular intervals quality control (QC) samples (blanks and reference materials) to monitor laboratory performance.

About Richmont Mines Inc.

Richmont Mines currently produces gold from the Island Gold Mine in Ontario, and the Beaufor Mine in Quebec. The Corporation is also advancing development of the significant high-grade resource extension at depth of the Island Gold Mine in Ontario. With 35 years of experience in gold production, exploration and development, and prudent financial management, the Corporation is well-positioned to cost-effectively build its Canadian reserve base and to successfully enter its next phase of growth.

Forward-Looking Statements
This news release contains forward-looking statements that include risks and uncertainties. When used in this news release, the words “estimate”, “project”, “anticipate”, “expect”, “intend”, “believe”, “hope”, “may”, “objective” 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 on current expectations and apply only as of the date on which they were made. Except as may be required by law or regulation, the Corporation undertakes no obligation and disclaims any responsibility to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.

The factors that could cause actual results to differ materially from those indicated in such forward-looking statements include, without limitation, changes in the prevailing price of gold, the Canadian-United States exchange rate, grade of ore mined and unforeseen difficulties in mining operations that could affect revenue and production costs. Other factors such as uncertainties regarding government regulations and the failure of our exploration drilling programs to identify significant new resources or targets or expand existing resources could also affect the results. Other risks are set out in Richmont’s Annual Information Form, Annual Reports and periodic reports. The forward-looking information contained herein is made as of the date of this news release.

Cautionary note to US investors concerning resource estimates
Information in this press release is intended to comply with the requirements of the Toronto Stock Exchange and applicable Canadian securities legislation, which differ in certain respects with the rules and regulations promulgated under the United States Securities Exchange Act of 1934, as amended (“Exchange Act”), as promulgated by the SEC. The requirements of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101) adopted by the Canadian Securities Administrators differ significantly from the requirements of the United States Securities and Exchange Commission (the “SEC”).

U.S. Investors are urged to consider the disclosure in our annual report on Form 20-F, File No. 001-14598, as filed with the SEC under the Exchange Act, which may be obtained from us (without cost) or from the SEC’s web site: http://sec.gov/edgar.shtml.

 

Tables of Drill Results

 

TABLE 1

INFILL DELINEATION IN PEA AREA

Hole Number

Length
(metres)

From
(metres)

To
(metres)

True
Width
(metres)

Uncut
Grade
(g/t Au)

Cut

Grade
(g/t Au)

Zone

Vertical depth
of Intersection
(metres)

490-525-01

63

46.45

48.75

2.12

6.18

6.18

C

469

490-525-03

84

61.75

65.50

2.97

6.35

6.35

C

516

740-465-02

220

160.80

166.25

3.96

9.80

9.80

C

858

740-465-03

264

128.90

132.60

3.68

38.66

38.66

C

805

740-465-04

189

129.10

133.10

3.52

161.34

85.33

C

817

including

129.10

131.80

2.37

238.42

125.82

740-465-07

249

131.75

138.00

5.12

16.00

16.00

C

790

740-465-08

186

127.45

133.15

5.13

46.42

43.05

C

801

including

132.10

133.15

0.94

237.78

219.50

740-465-09

210

150.55

157.10

5.21

6.21

6.21

C

839

740-465-15

387

276.29

282.43

3.51

29.78

23.29

C

1,004

including

281.02

281.50

0.27

308.12

225.00

740-465-16

255

192.14

200.00

5.08

114.93

96.97

C

900

740-465-17

345

205.40

210.30

3.44

19.35

19.35

C

919

740-465-20

393

291.05

299.45

4.61

24.56

24.56

C

1,020

740-465-21

546

329.75

347.60

6.46

7.48

7.48

C

1,069

740-465-23

297

223.00

226.65

2.34

61.34

50.84

C

941

including

224.60

225.35

0.48

276.11

225.00

740-471-10

270

193.80

210.00

5.60

34.13

18.84

C

909

including

194.30

195.80

0.52

329.52

164.34

740-471-13

200

146.80

150.33

2.92

6.28

6.28

C

841

740-471-14

354

162.47

166.40

3.04

6.17

6.17

C

863

740-471-16

186

135.84

141.26

4.37

27.47

17.58

C

820

including

136.38

137.20

0.66

167.79

102.38

740-471-22

186

163.08

168.12

4.60

6.14

6.14

C

670

740-471-23

252

159.20

162.60

3.20

6.89

6.89

C

684

740-471-24

351

318.35

333.10

4.10

13.52

11.28

C

1,030

including

318.35

321.55

0.89

56.39

46.08

740-471-31

402

345.06

364.73

8.31

13.26

13.26

C

1,061

740-471-32

441

335.93

348.56

4.95

13.74

13.74

C

1,058

740-471-34

420

218.00

226.00

3.42

9.29

9.29

C

939

740-477-17

270

195.40

203.15

4.14

8.26

8.26

C

892

740-477-19

231

149.80

158.90

7.71

12.84

12.84

C

840

740-477-20

210

141.38

148.81

6.52

6.32

6.32

C

820

740-477-26

225

133.55

142.50

6.60

9.55

9.55

C

741

740-477-29

600

262.10

276.86

6.04

16.07

16.07

C

973

740-477-30

312

236.95

243.00

3.29

83.08

60.15

C

939

including

238.80

241.65

1.55

173.08

124.40

740-477-33

300

218.80

231.10

6.57

32.47

32.47

C

924

740-477-36A

192

156.65

161.52

4.53

8.50

8.50

C

720

740-477-37

405

385.70

399.20

4.95

11.76

11.76

C

1,085

740-477-40

450

382.49

388.07

2.24

38.62

38.62

C

1,083

740-477-42

430

351.45

370.50

8.00

9.92

9.92

C

1,059

740-477-43

383

161.70

169.30

6.20

16.94

16.94

C

847

740-483-19

245

144.65

147.75

2.85

12.81

12.81

C

769

740-483-21

402

295.04

303.08

3.53

34.13

34.13

C

989

740-483-22

381

236.52

242.50

3.46

26.37

26.37

C

930

800-496-01

162

119.00

123.00

2.53

18.21

18.21

C

903

800-511-01

189

67.90

74.80

4.72

23.36

23.36

C

858

800-511-02

87

58.71

68.00

8.60

6.16

6.16

C

823

800-512-01

138

109.00

115.30

4.28

6.90

6.90

C

833

800-512-02

186

145.70

156.00

6.39

21.45

16.17

C

897

800-512-04

170

89.80

105.40

8.79

60.16

60.16

C

859

800-512-05

189

98.00

109.20

5.92

18.37

18.37

C

875

820-520-01

153

138.20

141.50

3.28

59.86

52.67

C

816

including

138.20

139.50

1.29

147.79

129.54

820-520-08

210

194.11

202.35

6.53

61.01

53.64

C

924

including

194.52

197.60

2.44

122.76

103.04

820-520-13

237

213.80

218.80

3.62

34.52

30.20

C

952

including

217.30

217.85

0.40

264.27

225.00

 

TABLE 2

EASTERN LATERAL EXPLORATION AND INFILL DRILLING

Hole Number

Length
(metres)

From
(metres)

To
(metres)

True
Width
(metres)

Uncut
Grade
(g/t Au)

Cut
Grade
(g/t Au)

Zone

Vertical depth
of Intersection
(metres)

340-576-01

402

305.00

314.65

2.00

5.17

5.17

E1E

559

340-576-02

500

435.20

444.13

2.00

9.08

8.50

E1E

663

340-579-01

258

172.30

176.00

2.57

2.69

2.69

E1E

427

340-584-01

126

96.10

99.40

3.03

3.19

3.19

E1E

325

340-584-02

303

110.59

113.96

2.70

1.51

1.51

E1E

353

340-584-03

160

119.50

126.10

4.87

1.98

1.98

E1E

369

340-586-06

201

115.22

118.60

2.68

7.63

7.63

E1E

375

including

118.22

118.60

0.30

59.86

59.86

340-586-07

273

172.30

176.90

2.00

3.16

3.16

E1E

436

340-586-08

420

213.10

218.40

2.00

9.50

8.38

E1E

479

including

214.00

214.50

0.19

81.94

70.00

340-586-09

430

262.00

272.40

2.00

1.73

1.73

E1E

529

340-588-08

453

213.00

218.10

2.00

14.96

14.96

E1E

471

340-588-09

430

302.75

313.45

2.10

3.62

3.62

E1E

554

340-588-10

150

96.60

99.60

2.51

0.81

0.81

E1E

310

340-588-11

315

122.37

126.67

3.00

13.90

10.10

E1E

358

including

125.37

125.87

0.35

102.69

70.00

340-588-12

255

155.60

160.75

3.00

10.24

10.24

E1E

403

340-588-13

399

202.60

207.50

2.00

54.28

33.60

E1E

452

340-588-14

378

264.00

273.70

2.00

17.02

10.60

E1E

516

including

265.80

266.80

0.21

132.27

70.00

340-588-15

222

124.42

130.50

4.36

19.84

11.44

E1E

376

including

125.10

125.90

0.57

133.89

70.00

340-588-16

453

382.80

395.80

2.00

0.93

0.93

E1E

614

340-588-17

498

265.00

278.00

3.00

5.54

4.98

E1E

522

including

272.00

272.50

0.25

84.55

70.00

340-588-18

321

173.50

178.30

2.30

12.44

5.69

E1E

411

including

175.10

175.40

0.14

177.98

70.00

GD-640-01

975

731.60

738.60

4.24

0.08

0.08

E1E

686

GD-640-02

1,029

779.10

789.20

5.34

3.66

3.66

E1E

756

GD-640-04

1,050

888.50

894.50

3.27

8.81

7.38

E1E

852

including

890.20

890.80

0.33

84.31

70.00

GD-640-05

1,264

1,055.20

1,066.50

11.3 c.l.

26.55

20.57

E1E

1,020

including

1,056.00

1,057.50

1.50

115.11

70.00

GD-640-05-1

1,500

1,083.20

1,091.53

8.33 c.l.

28.13

16.10

X

1,029

including

1,086.75

1,090.10

3.35 c.l.

63.25

33.34

1,110.56

1,116.30

5.74 c.l.

17.32

10.16

X

1,042

including

1,110.86

1,111.56

0.7 c.l.

128.71

70.00

 

TABLE 3

DEEP DRILLING PROGRAM, EXPLORATION AND INFILL

Hole Number

Length
(metres)

From
(metres)

To
(metres)

True
Width
(metres)

Uncut
Grade
(g/t Au)

Cut
Grade
(g/t Au)

Zone

Vertical depth
of Intersection
(metres)

MH1-10

1,613

1,350.10

1,356.90

3.76

24.54

24.54

C

1,233

including

1,354.00

1,354.80

0.44

179.67

179.67

MH2A-7

1,607

1,194.20

1,198.70

4.5 c.l.

7.17

6.08

X

1,047

MH2A-7

1,607

1,241.00

1,251.40

10.4 c.l.

11.36

11.36

X

1,085

MH2A-7

1,607

1,312.90

1,319.47

4.80

4.72

4.72

E1E

1,139

MH2A-8

1,433

1,278.82

1,289.47

9.17

11.22

10.37

E1E

1,108

including

1,288.64

1,289.00

0.31

95.21

70.00

MH2A-9B

1,500

1,299.26

1,306.46

5.89

2.66

2.66

E1E

1,134

MH2A-10

1,472

1,300.10

1,316.00

11.58

13.25

6.16

E1E

1,169

including

1,300.50

1,300.80

0.22

383.01

70.00

1,315.70

1,316.00

0.22

133.06

70.00

MH4-4

1,373

1,326.90

1,331.45

3.09

4.10

4.10

C

1,138

MH4-4B

1,505

1,211.15

1,217.10

5.95 c.l.

103.86

5.09

X

1,046

including

1,216.45

1,216.75

0.3 c.l.

2028.91

70.00

MH4-5

1,628

1,346.96

1,351.10

2.51

4.63

4.63

C

1,177

MH5-1

1,523

1,082.60

1,084.55

1.95 c.l.

4.59

4.59

X

948

MH5-1A

1,523

1,321.88

1,329.15

5.93

9.27

9.27

C

1,128

including

1,326.73

1,327.20

0.38

102.07

102.07

MH5-2

1,529

1,323.58

1,329.43

4.40

5.08

5.08

C

1,132

MH5-3

1,517

1,383.40

1,388.55

3.81

0.95

0.95

C

1,215

MH-6

1,857

1,440.50

1,453.05

9.44

0.91

0.91

C

1,261

MH-8

1,576

1,378.50

1,382.10

2.24

4.60

4.60

E1E

1,195

High-grade capping values:
Lower Island C Zone (225 g/t)
Lower X2-E1E Zone, East Lateral E1E Zone and X Zone (70 g/t Au)

 

SOURCE Richmont Mines

Richmont Mines Provides Exploration and Delineation Drilling Update for the Island Gold Mine; New High Grade Mineralization Identified: 20.6 g/t of gold over 11.3 metres (core length) in the Eastern Lateral Extension

TORONTO, March 30, 2017 /PRNewswire/ – Richmont Mines Inc. (TSX: RIC) (NYSE: RIC) (“Richmont” or the “Corporation”), is pleased to provide an update from its strategic exploration and delineation drilling program currently underway at the cornerstone Island Gold Mine. Recent exploration drilling has identified new high-grade mineralization located approximately 800 metres east of the main Island Gold deposit with hole GD-640-05 intersecting 20.6 g/t gold over 11.3 metres (core length). All results are reported with estimated true width, unless otherwise indicated, and high-grade assays are capped at 225 g/t gold for the Lower C zone and 70 g/t for the E1E zone, the main mineralized zone east of the second dyke.

“Results from the strategic drilling program at the Island Gold Mine continue to demonstrate the significant near-term potential of this high quality deposit. In the eastern lateral extension, drilling has identified a new mineralized zone in the down plunge extension of a high-grade trend that was identified in 2016. This new area is located only 500 metres east and below the new resource blocks, which indicates that the structure could continue at depth.” stated Renaud Adams, CEO. He continued, “The early results from our delineation drilling in the Expansion Case PEA area indicate the significant potential to further expand our reserves at higher than current average grades. In 2017 we will continue to advance our systematic drilling program with an overall focus on positively impacting our near-term mine life and identifying the next million ounces of resources outside the Expansion Case PEA area.”

2017 DRILLING PROGRAM – ISLAND GOLD MINE (Figure 1)

The 2016 delineation drilling program contributed to a 34% increase in reserves at an 11% higher grade, while the exploration program delivered more than 450,000 ounces of new inferred resources at a cost of less than $35 per ounce discovered. As of December 31, 2016, the Island Gold Mine increased its reserve base to 752,200 ounces of gold at a higher grade of 9.17 g/t, while inferred resources increased to 995,700 ounces of gold at a higher grade of 10.18 g/t.

The 2017 drilling program currently underway continues to build on positive results achieved in 2016 and is focused on three key priorities: 1) to expand near-mine resources outside the Expansion Case PEA area, both laterally and at depth; 2) to further expand the reserve base, primarily within the Expansion Case PEA area; and 3) continuing to test high priority regional gold targets across the prospective Island Gold Mine property.

Eastern Lateral Exploration and Infill Drilling Program (Figure 2)

The 2016 drilling program successfully added two new inferred resource blocks in the eastern lateral extension, approximately 300 metres east of the Expansion Case PEA area, between the 340 and the 750 metre levels. The largest inferred resource block contains approximately 290,000 tonnes at a grade of 10.35 g/t of gold (approximately 95,000 ounces of gold). These two new blocks are relatively shallow and easily accessible from the existing mine infrastructure. As a result, the 2017 exploration program is following up on the eastern lateral extension area, particularly on a high-grade intersection (Hole GD-630-01) of 25.27 g/t gold over 3.85 metres located approximately 500 metres east of the new resource blocks that was identified in 2016, and continues to target the extension and infill of the new resource blocks.

Recent drilling in the eastern lateral extension has been focused in the down plunge extension of Hole GD-630-01. Highlights include:

  • Hole GD-640-05 intersected 20.57 g/t (26.55 g/t uncut) of gold over a core length of 11.3 metres, at a vertical depth of approximately 1,000 metres;
  • Hole GD-640-04, located approximately 150 metres above hole GD-640-05, intersected 7.38 g/t gold over 3.27 metres.

One directional drill rig has been redeployed to this area to follow-up on the exploration success in this area. The initial 2017 directional drill hole (GD-640-05-1) was completed between holes GD-640-04 and GD-640-05 noted above, and intersected two high-grade intervals at the same elevation, but located 40 to 50 metres north of GD-640-05. The first interval intersected 16.1 g/t gold (28.13 g/t uncut) over a core length of 8.33 metres and the second intersected 10.16 g/t gold (17.32 g/t uncut) over a core length of 5.74 metres. Additional drilling will be required to better understand the geometry and true width of this new area of high-grade mineralization. This new discovery represents significant upside to the potential extension of the eastern lateral corridor. A second directional drill rig will be added to accelerate drilling in this area.

Exploration and infill drilling has continued from the 340 metre level exploration drift that targets a potential extension and infill of the current resource blocks that were identified in 2016. One drill rig is working in the area and another drill rig will be added on the 620 metre level once the 300 metre extension of the exploration drift is completed in the second half of the year.

Recent highlights from Eastern Lateral exploration and infill drilling from the 340 metre level exploration drift (subsequent to the October 12, 2016 exploration press release), include (Table 2):

  • Hole 340-576-02: 8.50 g/t gold over 2.00 metres;
  • Hole 340-588-08: 14.96 g/t gold over 2.00 metres;
  • Hole 340-588-11: 10.10 g/t gold over 3.00 metres;
  • Hole 340-588-12: 10.24 g/t gold over 3.00 metres;
  • Hole 340-588-13: 33.60 g/t gold over 2.00 metres;
  • Hole 340-588-14: 10.60 g/t gold over 2.00 metres;
  • Hole 340-588-15: 11.44 g/t gold over 4.36 metres.

A total of 8,232 metres (33 holes) of exploration and infill drilling of the planned 37,000 metres have been completed to date in the eastern lateral area.

Deep Directional Exploration Drilling Program Highlights: (Figure 3)

The successful 2016 deep drilling program identified a new large inferred resource block of 760,000 tonnes at a grade of 9.53 g/t gold (approximately 230,000 ounces) in the eastern down plunge extension, located between the 1,050 and the 1,300 metre levels.

The deep directional exploration drilling program continues in 2017 and targets the expansion of the new resource block. A total of 16,000 metres of deep directional drilling and 20,000 metres of underground drilling are planned in 2017. The underground drilling will be primarily completed from the 860 metre level exploration drift (400 metre length) that is scheduled to be completed in 2017.

Results to date continue to be encouraging with Hole MH1-10 intersecting 24.5 g/t gold over 3.76 metres. In the eastern portion of this area, Hole MH8 intersected 4.6 g/t gold over 2.24 metres, demonstrating that the mineralization remains open to the east.

In the western area, mineralized zones were intersected and additional drilling is required to better understand the structural geology at depth, however these new zones increase the overall potential of the down plunge extension and provide new high quality targets for follow up drilling.

A total of 5,052 metres (10 holes) have been drilled to date and three surface directional drill rigs are presently working in this area.

Other highlights from the deep directional exploration and infill drilling include (Table 3):

  • Hole MH2A-7: 11.36 g/t gold over a core length of 10.40 metres (Zone X);
  • Hole MH2A-8: 10.37 g/t gold over 9.17 metres;
  • Hole MH2A-10: 6.16 g/t gold over 11.58 metres;
  • Hole MH5-1A: 9.27 g/t gold over 5.93 metres.

EXPANSION CASE PEA DELINEATION DRILLING PROGRAM (Figure 4)

For 2017, a total of 30,000 metres of delineation drilling is planned within the Expansion Case PEA area, primarily in the fourth mining horizon located between the 860 and 1,000 metre levels. Currently, two drill rigs are working in the area and a total of 6,866 metres (40 holes) have been completed to date.

Drilling continues to demonstrate the potential for additional reserve growth, including ounces and grade, primarily through the conversion of the high-grade inferred resources located in the fourth horizon. Results to date also demonstrate the potential to identify additional resources as high-grade mineralization continues to be intersected between the inferred resource blocks.

Recent drilling highlights from delineation and infill drilling completed within the Expansion Case PEA area, which have not been included in the December 2016 Resource and Reserve update include (Table 1):

  • Hole 740-465-08: 43.05 g/t gold over 5.13 metres;
  • Hole 740-465-16: 96.47 g/t gold over 5.08 metres;
  • Hole 740-465-15: 23.29 g/t gold over 3.51 metres;
  • Hole 740-465-20: 24.56 g/t gold over 3.85 metres;
  • Hole 740-483-21: 34.13 g/t gold over 3.53 metres;
  • Hole 820-520-08: 53.64 g/t gold over 6.53 metres;
  • Hole 820-520-13: 30.20 g/t gold over 3.62 metres.

Phase 2 Regional Drilling Program

The Phase 2 regional drilling program is designed to continue to evaluate the potential extension of the mineralization below the Kremzar mine as well as other previously identified high-priority gold targets located elsewhere on the highly prospective 77 km2 Island Gold property. The Phase 2 regional drilling program is expected to begin later in 2017.

Qualified Persons

The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by Daniel Adam P. Geo., Ph.D., Richmont’s Vice-President, Exploration, a Qualified Person as defined by NI 43-101.

Quality Control

Assays for the exploration drilling were done at LabExpert in Rouyn-Noranda. Mineralized zones samples will be resent for verification to an accredited laboratory. The Corporation inserts at regular intervals quality control (QC) samples (blanks and reference materials) to monitor laboratory performance.

About Richmont Mines Inc.

Richmont Mines currently produces gold from the Island Gold Mine in Ontario, and the Beaufor Mine in Quebec. The Corporation is also advancing development of the significant high-grade resource extension at depth of the Island Gold Mine in Ontario. With 35 years of experience in gold production, exploration and development, and prudent financial management, the Corporation is well-positioned to cost-effectively build its Canadian reserve base and to successfully enter its next phase of growth.

Forward-Looking Statements
This news release contains forward-looking statements that include risks and uncertainties. When used in this news release, the words “estimate”, “project”, “anticipate”, “expect”, “intend”, “believe”, “hope”, “may”, “objective” 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 on current expectations and apply only as of the date on which they were made. Except as may be required by law or regulation, the Corporation undertakes no obligation and disclaims any responsibility to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.

The factors that could cause actual results to differ materially from those indicated in such forward-looking statements include, without limitation, changes in the prevailing price of gold, the Canadian-United States exchange rate, grade of ore mined and unforeseen difficulties in mining operations that could affect revenue and production costs. Other factors such as uncertainties regarding government regulations and the failure of our exploration drilling programs to identify significant new resources or targets or expand existing resources could also affect the results. Other risks are set out in Richmont’s Annual Information Form, Annual Reports and periodic reports. The forward-looking information contained herein is made as of the date of this news release.

Cautionary note to US investors concerning resource estimates
Information in this press release is intended to comply with the requirements of the Toronto Stock Exchange and applicable Canadian securities legislation, which differ in certain respects with the rules and regulations promulgated under the United States Securities Exchange Act of 1934, as amended (“Exchange Act”), as promulgated by the SEC. The requirements of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101) adopted by the Canadian Securities Administrators differ significantly from the requirements of the United States Securities and Exchange Commission (the “SEC”).

U.S. Investors are urged to consider the disclosure in our annual report on Form 20-F, File No. 001-14598, as filed with the SEC under the Exchange Act, which may be obtained from us (without cost) or from the SEC’s web site: http://sec.gov/edgar.shtml.

 

Tables of Drill Results

 

TABLE 1

INFILL DELINEATION IN PEA AREA

Hole Number

Length
(metres)

From
(metres)

To
(metres)

True
Width
(metres)

Uncut
Grade
(g/t Au)

Cut

Grade
(g/t Au)

Zone

Vertical depth
of Intersection
(metres)

490-525-01

63

46.45

48.75

2.12

6.18

6.18

C

469

490-525-03

84

61.75

65.50

2.97

6.35

6.35

C

516

740-465-02

220

160.80

166.25

3.96

9.80

9.80

C

858

740-465-03

264

128.90

132.60

3.68

38.66

38.66

C

805

740-465-04

189

129.10

133.10

3.52

161.34

85.33

C

817

including

129.10

131.80

2.37

238.42

125.82

740-465-07

249

131.75

138.00

5.12

16.00

16.00

C

790

740-465-08

186

127.45

133.15

5.13

46.42

43.05

C

801

including

132.10

133.15

0.94

237.78

219.50

740-465-09

210

150.55

157.10

5.21

6.21

6.21

C

839

740-465-15

387

276.29

282.43

3.51

29.78

23.29

C

1,004

including

281.02

281.50

0.27

308.12

225.00

740-465-16

255

192.14

200.00

5.08

114.93

96.97

C

900

740-465-17

345

205.40

210.30

3.44

19.35

19.35

C

919

740-465-20

393

291.05

299.45

4.61

24.56

24.56

C

1,020

740-465-21

546

329.75

347.60

6.46

7.48

7.48

C

1,069

740-465-23

297

223.00

226.65

2.34

61.34

50.84

C

941

including

224.60

225.35

0.48

276.11

225.00

740-471-10

270

193.80

210.00

5.60

34.13

18.84

C

909

including

194.30

195.80

0.52

329.52

164.34

740-471-13

200

146.80

150.33

2.92

6.28

6.28

C

841

740-471-14

354

162.47

166.40

3.04

6.17

6.17

C

863

740-471-16

186

135.84

141.26

4.37

27.47

17.58

C

820

including

136.38

137.20

0.66

167.79

102.38

740-471-22

186

163.08

168.12

4.60

6.14

6.14

C

670

740-471-23

252

159.20

162.60

3.20

6.89

6.89

C

684

740-471-24

351

318.35

333.10

4.10

13.52

11.28

C

1,030

including

318.35

321.55

0.89

56.39

46.08

740-471-31

402

345.06

364.73

8.31

13.26

13.26

C

1,061

740-471-32

441

335.93

348.56

4.95

13.74

13.74

C

1,058

740-471-34

420

218.00

226.00

3.42

9.29

9.29

C

939

740-477-17

270

195.40

203.15

4.14

8.26

8.26

C

892

740-477-19

231

149.80

158.90

7.71

12.84

12.84

C

840

740-477-20

210

141.38

148.81

6.52

6.32

6.32

C

820

740-477-26

225

133.55

142.50

6.60

9.55

9.55

C

741

740-477-29

600

262.10

276.86

6.04

16.07

16.07

C

973

740-477-30

312

236.95

243.00

3.29

83.08

60.15

C

939

including

238.80

241.65

1.55

173.08

124.40

740-477-33

300

218.80

231.10

6.57

32.47

32.47

C

924

740-477-36A

192

156.65

161.52

4.53

8.50

8.50

C

720

740-477-37

405

385.70

399.20

4.95

11.76

11.76

C

1,085

740-477-40

450

382.49

388.07

2.24

38.62

38.62

C

1,083

740-477-42

430

351.45

370.50

8.00

9.92

9.92

C

1,059

740-477-43

383

161.70

169.30

6.20

16.94

16.94

C

847

740-483-19

245

144.65

147.75

2.85

12.81

12.81

C

769

740-483-21

402

295.04

303.08

3.53

34.13

34.13

C

989

740-483-22

381

236.52

242.50

3.46

26.37

26.37

C

930

800-496-01

162

119.00

123.00

2.53

18.21

18.21

C

903

800-511-01

189

67.90

74.80

4.72

23.36

23.36

C

858

800-511-02

87

58.71

68.00

8.60

6.16

6.16

C

823

800-512-01

138

109.00

115.30

4.28

6.90

6.90

C

833

800-512-02

186

145.70

156.00

6.39

21.45

16.17

C

897

800-512-04

170

89.80

105.40

8.79

60.16

60.16

C

859

800-512-05

189

98.00

109.20

5.92

18.37

18.37

C

875

820-520-01

153

138.20

141.50

3.28

59.86

52.67

C

816

including

138.20

139.50

1.29

147.79

129.54

820-520-08

210

194.11

202.35

6.53

61.01

53.64

C

924

including

194.52

197.60

2.44

122.76

103.04

820-520-13

237

213.80

218.80

3.62

34.52

30.20

C

952

including

217.30

217.85

0.40

264.27

225.00

 

TABLE 2

EASTERN LATERAL EXPLORATION AND INFILL DRILLING

Hole Number

Length
(metres)

From
(metres)

To
(metres)

True
Width
(metres)

Uncut
Grade
(g/t Au)

Cut
Grade
(g/t Au)

Zone

Vertical depth
of Intersection
(metres)

340-576-01

402

305.00

314.65

2.00

5.17

5.17

E1E

559

340-576-02

500

435.20

444.13

2.00

9.08

8.50

E1E

663

340-579-01

258

172.30

176.00

2.57

2.69

2.69

E1E

427

340-584-01

126

96.10

99.40

3.03

3.19

3.19

E1E

325

340-584-02

303

110.59

113.96

2.70

1.51

1.51

E1E

353

340-584-03

160

119.50

126.10

4.87

1.98

1.98

E1E

369

340-586-06

201

115.22

118.60

2.68

7.63

7.63

E1E

375

including

118.22

118.60

0.30

59.86

59.86

340-586-07

273

172.30

176.90

2.00

3.16

3.16

E1E

436

340-586-08

420

213.10

218.40

2.00

9.50

8.38

E1E

479

including

214.00

214.50

0.19

81.94

70.00

340-586-09

430

262.00

272.40

2.00

1.73

1.73

E1E

529

340-588-08

453

213.00

218.10

2.00

14.96

14.96

E1E

471

340-588-09

430

302.75

313.45

2.10

3.62

3.62

E1E

554

340-588-10

150

96.60

99.60

2.51

0.81

0.81

E1E

310

340-588-11

315

122.37

126.67

3.00

13.90

10.10

E1E

358

including

125.37

125.87

0.35

102.69

70.00

340-588-12

255

155.60

160.75

3.00

10.24

10.24

E1E

403

340-588-13

399

202.60

207.50

2.00

54.28

33.60

E1E

452

340-588-14

378

264.00

273.70

2.00

17.02

10.60

E1E

516

including

265.80

266.80

0.21

132.27

70.00

340-588-15

222

124.42

130.50

4.36

19.84

11.44

E1E

376

including

125.10

125.90

0.57

133.89

70.00

340-588-16

453

382.80

395.80

2.00

0.93

0.93

E1E

614

340-588-17

498

265.00

278.00

3.00

5.54

4.98

E1E

522

including

272.00

272.50

0.25

84.55

70.00

340-588-18

321

173.50

178.30

2.30

12.44

5.69

E1E

411

including

175.10

175.40

0.14

177.98

70.00

GD-640-01

975

731.60

738.60

4.24

0.08

0.08

E1E

686

GD-640-02

1,029

779.10

789.20

5.34

3.66

3.66

E1E

756

GD-640-04

1,050

888.50

894.50

3.27

8.81

7.38

E1E

852

including

890.20

890.80

0.33

84.31

70.00

GD-640-05

1,264

1,055.20

1,066.50

11.3 c.l.

26.55

20.57

E1E

1,020

including

1,056.00

1,057.50

1.50

115.11

70.00

GD-640-05-1

1,500

1,083.20

1,091.53

8.33 c.l.

28.13

16.10

X

1,029

including

1,086.75

1,090.10

3.35 c.l.

63.25

33.34

1,110.56

1,116.30

5.74 c.l.

17.32

10.16

X

1,042

including

1,110.86

1,111.56

0.7 c.l.

128.71

70.00

 

TABLE 3

DEEP DRILLING PROGRAM, EXPLORATION AND INFILL

Hole Number

Length
(metres)

From
(metres)

To
(metres)

True
Width
(metres)

Uncut
Grade
(g/t Au)

Cut
Grade
(g/t Au)

Zone

Vertical depth
of Intersection
(metres)

MH1-10

1,613

1,350.10

1,356.90

3.76

24.54

24.54

C

1,233

including

1,354.00

1,354.80

0.44

179.67

179.67

MH2A-7

1,607

1,194.20

1,198.70

4.5 c.l.

7.17

6.08

X

1,047

MH2A-7

1,607

1,241.00

1,251.40

10.4 c.l.

11.36

11.36

X

1,085

MH2A-7

1,607

1,312.90

1,319.47

4.80

4.72

4.72

E1E

1,139

MH2A-8

1,433

1,278.82

1,289.47

9.17

11.22

10.37

E1E

1,108

including

1,288.64

1,289.00

0.31

95.21

70.00

MH2A-9B

1,500

1,299.26

1,306.46

5.89

2.66

2.66

E1E

1,134

MH2A-10

1,472

1,300.10

1,316.00

11.58

13.25

6.16

E1E

1,169

including

1,300.50

1,300.80

0.22

383.01

70.00

1,315.70

1,316.00

0.22

133.06

70.00

MH4-4

1,373

1,326.90

1,331.45

3.09

4.10

4.10

C

1,138

MH4-4B

1,505

1,211.15

1,217.10

5.95 c.l.

103.86

5.09

X

1,046

including

1,216.45

1,216.75

0.3 c.l.

2028.91

70.00

MH4-5

1,628

1,346.96

1,351.10

2.51

4.63

4.63

C

1,177

MH5-1

1,523

1,082.60

1,084.55

1.95 c.l.

4.59

4.59

X

948

MH5-1A

1,523

1,321.88

1,329.15

5.93

9.27

9.27

C

1,128

including

1,326.73

1,327.20

0.38

102.07

102.07

MH5-2

1,529

1,323.58

1,329.43

4.40

5.08

5.08

C

1,132

MH5-3

1,517

1,383.40

1,388.55

3.81

0.95

0.95

C

1,215

MH-6

1,857

1,440.50

1,453.05

9.44

0.91

0.91

C

1,261

MH-8

1,576

1,378.50

1,382.10

2.24

4.60

4.60

E1E

1,195

High-grade capping values:
Lower Island C Zone (225 g/t)
Lower X2-E1E Zone, East Lateral E1E Zone and X Zone (70 g/t Au)

 

SOURCE Richmont Mines

MacDonald Mines Signs Binding Letter of Intent to acquire 100% Interest in Holdsworth Property

TORONTO, ONTARIO–(Marketwired – March 30, 2017) – MacDonald Mines Exploration Ltd. (TSX VENTURE:BMK) („MacDonald Mines”, „MacDonald” or the „Company”) is pleased to announce that it has signed a Binding Letter of Intent („LOI”) with Noble Mineral Exploration Inc. („Noble”) to acquire all of Noble’s interest in the Holdsworth property (the „Property”), located 25 kilometres northeast of Wawa, Ontario. The Holdsworth property is part of the land package that comprises MacDonald’s Wawa-Holdsworth Project.

MacDonald previously entered into an Option and Joint Venture („JV”) agreement with Noble on December 7, 2016 to advance exploration on the Holdsworth property. The LOI supersedes the original agreement.

Quentin Yarie, MacDonald’s President and CEO commented: „In the few months our team has worked on the Holdsworth property, we’ve determined that there is a good potential for gold extraction there. We’ve already initiated a bulk sampling program of the oxides sands-the main gold target on the property. Securing 100% interest ensures that MacDonald can continue to aggressively advance the Wawa-Holdsworth Project and significantly increase shareholder value.

LOI Highlights

To acquire 100% interest in the Holdsworth property, MacDonald Mines agrees to:

  • Issue 5,500,000 units of the Company’s common shares. Each Unit will consist of one Class A common share and one non-transferable Class A common share purchase warrant exercisable at $0.30 per share for a period of three years from the date of issuance.
  • Grant Noble a 1.5% net smelter return royalty (the „NSR”) on the Holdsworth property. MacDonald will have the right to re-purchase one half of the NSR for $500,000 at any time.
  • Pay the equivalent of 5,000 ounces of gold equivalent to Noble once MacDonald has extracted, refined and sold a minimum of 50,000 ounces of gold from the oxide sands portion of the Property.

Wawa-Holdsworth Project Highlights

  • Approximately 285 hectares, 20 kilometres northeast of the town of Wawa
  • Neighbouring Argonaut’s >6Moz gold Magino Deposit & Richmont’s >1Moz gold Island Gold Mine
  • Numerous gold showings with diversified mineralization styles occurring in a 500 metres-wide deformation corridor
  • Year-long road access and easy access to rail, road, electrical power, labour force and suppliers

Qualified Person

Quentin Yarie, P Geo. is the qualified person responsible for preparing, supervising and approving the scientific and technical content of this news release.

About Noble Mineral Exploration Inc.

Noble Mineral Exploration Inc. is a junior Canadian natural resource company listed on the TSX Venture Exchange under the symbol „NOB”. The Company holds a portfolio of diversified exploration projects at various stages of exploration, including Nickel/Gold in the Timmins Area of Northern Ontario, Gold in the Wawa area of Northern Ontario and Uranium in Northern Saskatchewan.

About MacDonald Mines Exploration Ltd.

MacDonald Mines Exploration Ltd. is a mineral exploration company headquartered in Toronto, Ontario focused on gold and silica exploration in Canada. The Company has built a portfolio of safe-jurisdiction, infrastructure-rich projects that demonstrate the greatest market potential for return. The Company is aggressively advancing its highly prospective Wawa-Holdsworth Project and Charlevoix Silica Property.

The Company’s common shares trade on the TSX Venture Exchange under the symbol „BMK”.

To learn more about MacDonald Mines, please visit www.macdonaldmines.com

This News Release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as „may”, „should”, „expects”, „plans”, „anticipates”, „believes”, „estimates”, „predicts”, „potential” or „continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

NioCorp Developments Ltd. (NIOBF: OTCQX International) | NioCorp Files Permit Application with U.S. Army Corps of Engineers for its Elk Creek Project Waterline

Mar 30, 2017

OTC Disclosure & News Service

CENTENNIAL, Colo., March 30, 2017 (GLOBE NEWSWIRE) — NioCorp Developments Ltd. (“NioCorp” or the “Company”) (TSX:NB) (OTCQX:NIOBF) (FSE:BR3) announces that it has submitted a Pre-Construction Notification (PCN) permit application to the U.S. Army Corps of Engineers (“USACE”) for its proposed waterline from its Elk Creek Superalloy Materials Project (the “Project”) to the Missouri River.

The PCN filed by NioCorp with the USACE covers the outfall structure portion of the Project’s waterline in the Missouri River.  Under current federal law (40CFR330.1 (e)), NioCorp may presume that the PCN qualifies for the USACE’s Nationwide Permit 12 (Utility Line Activities) unless it is notified by the USACE within 45 calendar days.  If the USACE notifies NioCorp that the notification is incomplete, one additional 45-day period commences upon receipt of the revised notification.

The remainder of the proposed 33-mile waterline is able to move forward under non-notifying parameters of Nationwide Permit 12, given that it involves no permanent impacts to wetlands and stream channels and will have only temporary impacts during construction.  Additionally, NioCorp’s proposed underground mine, surface processing facilities, and tailings impoundment are estimated to result in zero permanent impacts to any federally jurisdictional waters, and thus will need no discretionary permit from the USACE.

The fact that most of the Elk Creek Project can be constructed under a non-notifying USACE Nationwide Permit is due to the Company’s success in recent months in reducing the Project’s projected impacts on federally regulated waters.  Those advances include:  (1) using less water to recover the facility’s primary commercial product (Niobium), which reduces the size of a number of major pieces of equipment in the facility; (2) recycling a portion of process remains that normally would go to tailings into useful materials needed for superalloy metal manufacturing; (3) elimination of a previously planned railroad spur line and associated infrastructure.  These and other advances were previously announced by the Company and are summarized here.

“Scott Honan and his team have worked very hard to continue reducing the environmental footprint of the Elk Creek Project, and that’s why we qualify for this more rapid and streamlined permitting process from the U.S. Army Corps of Engineers,” said Mark A. Smith, CEO and Executive Chairman of NioCorp.  “We want to do the right thing for the environment, and that is a key reason why we invested more time and resources into further optimizing our plans for the Elk Creek mine and processing facility and the waterline.  Those optimizations are resulting in a more efficient permitting process, and that is a win for the Project, for the environment, and for southeast Nebraska.”

The Elk Creek Project must still obtain a number of state and local permits prior to construction and operation.  These include water, air quality, and other permits from the Nebraska Department of Environmental Quality and other agencies.  Local permits also will be required.  A number of these state and local permitting processes are already underway.

On Behalf of the Board of Directors,

„Mark Smith”

Mark Smith
Executive Chairman, CEO, and Director

Qualified Persons: Brian Osborn, BSc., CHMM, of Olsson Associates, a Qualified Person as defined by National Instrument 43-101, is responsible for the environmental permitting of the Elk Creek project, and has read and approved the technical information contained in this news release.

@NioCorp $NB $NIOBF #Niobium #Scandium #ElkCreek

For More Information:

Contact Jim Sims, VP of External Affairs, NioCorp Developments Ltd., 720-639-4650, jim.sims@niocorp.com

About NioCorp

NioCorp is developing a superalloy materials project in Southeast Nebraska that will produce Niobium, Scandium, and Titanium. Niobium is used to produce superalloys as well as High Strength, Low Alloy („HSLA”) steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications.  Scandium is a superalloy material that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance.  Scandium also is a critical component of advanced solid oxide fuel cells.  Titanium is used in various superalloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor and medical implants.

Cautionary Note Regarding Forward-Looking Statements

Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this document.  Certain statements contained in this document may constitute forward-looking statements, including but not limited to NioCorp’s ability to secure permits necessary to enable the Project to be constructed and to operate, and the scope and timing of such permits. Such forward-looking statements are based upon NioCorp’s reasonable expectations and business plan at the date hereof, which are subject to change depending on economic, political and competitive circumstances and contingencies. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause a change in such assumptions and the actual outcomes and estimates to be materially different from those estimated or anticipated future results, achievements or position expressed or implied by those forward-looking statements. Risks, uncertainties and other factors that could cause NioCorp’s plans or prospects to change include changes in demand for and price of commodities (such as fuel and electricity) and currencies; changes or disruptions in the securities markets; legislative, political or economic developments; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of NioCorp’s projects; risks of accidents, equipment breakdowns and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining or development activities; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; and the risks involved in the exploration, development and mining business and the risks set forth under the heading “Risk Factors” in the Company’s S-1 registration statement and other filings with the SEC at www.sec.gov. NioCorp disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

NioCorp Files Permit Application with U.S. Army Corps of Engineers for its Elk Creek Project Waterline

CENTENNIAL, Colo., March 30, 2017 (GLOBE NEWSWIRE) — NioCorp Developments Ltd. (“NioCorp” or the “Company”) (TSX:NB) (OTCQX:NIOBF) (FSE:BR3) announces that it has submitted a Pre-Construction Notification (PCN) permit application to the U.S. Army Corps of Engineers (“USACE”) for its proposed waterline from its Elk Creek Superalloy Materials Project (the “Project”) to the Missouri River.
The PCN filed by NioCorp with the USACE covers the outfall structure portion of the Project’s waterline in the Missouri River.  Under current federal law (40CFR330.1 (e)), NioCorp may presume that the PCN qualifies for the USACE’s Nationwide Permit 12 (Utility Line Activities) unless it is notified by the USACE within 45 calendar days.  If the USACE notifies NioCorp that the notification is incomplete, one additional 45-day period commences upon receipt of the revised notification.The remainder of the proposed 33-mile waterline is able to move forward under non-notifying parameters of Nationwide Permit 12, given that it involves no permanent impacts to wetlands and stream channels and will have only temporary impacts during construction.  Additionally, NioCorp’s proposed underground mine, surface processing facilities, and tailings impoundment are estimated to result in zero permanent impacts to any federally jurisdictional waters, and thus will need no discretionary permit from the USACE.The fact that most of the Elk Creek Project can be constructed under a non-notifying USACE Nationwide Permit is due to the Company’s success in recent months in reducing the Project’s projected impacts on federally regulated waters.  Those advances include:  (1) using less water to recover the facility’s primary commercial product (Niobium), which reduces the size of a number of major pieces of equipment in the facility; (2) recycling a portion of process remains that normally would go to tailings into useful materials needed for superalloy metal manufacturing; (3) elimination of a previously planned railroad spur line and associated infrastructure.  These and other advances were previously announced by the Company and are summarized here.“Scott Honan and his team have worked very hard to continue reducing the environmental footprint of the Elk Creek Project, and that’s why we qualify for this more rapid and streamlined permitting process from the U.S. Army Corps of Engineers,” said Mark A. Smith, CEO and Executive Chairman of NioCorp.  “We want to do the right thing for the environment, and that is a key reason why we invested more time and resources into further optimizing our plans for the Elk Creek mine and processing facility and the waterline.  Those optimizations are resulting in a more efficient permitting process, and that is a win for the Project, for the environment, and for southeast Nebraska.”The Elk Creek Project must still obtain a number of state and local permits prior to construction and operation.  These include water, air quality, and other permits from the Nebraska Department of Environmental Quality and other agencies.  Local permits also will be required.  A number of these state and local permitting processes are already underway.On Behalf of the Board of Directors,„Mark Smith”Mark Smith
Executive Chairman, CEO, and Director
Qualified Persons: Brian Osborn, BSc., CHMM, of Olsson Associates, a Qualified Person as defined by National Instrument 43-101, is responsible for the environmental permitting of the Elk Creek project, and has read and approved the technical information contained in this news release.@NioCorp $NB $NIOBF #Niobium #Scandium #ElkCreekFor More Information:Contact Jim Sims, VP of External Affairs, NioCorp Developments Ltd., 720-639-4650, jim.sims@niocorp.comAbout NioCorpNioCorp is developing a superalloy materials project in Southeast Nebraska that will produce Niobium, Scandium, and Titanium. Niobium is used to produce superalloys as well as High Strength, Low Alloy („HSLA”) steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications.  Scandium is a superalloy material that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance.  Scandium also is a critical component of advanced solid oxide fuel cells.  Titanium is used in various superalloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor and medical implants.Cautionary Note Regarding Forward-Looking StatementsNeither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this document.  Certain statements contained in this document may constitute forward-looking statements, including but not limited to NioCorp’s ability to secure permits necessary to enable the Project to be constructed and to operate, and the scope and timing of such permits. Such forward-looking statements are based upon NioCorp’s reasonable expectations and business plan at the date hereof, which are subject to change depending on economic, political and competitive circumstances and contingencies. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause a change in such assumptions and the actual outcomes and estimates to be materially different from those estimated or anticipated future results, achievements or position expressed or implied by those forward-looking statements. Risks, uncertainties and other factors that could cause NioCorp’s plans or prospects to change include changes in demand for and price of commodities (such as fuel and electricity) and currencies; changes or disruptions in the securities markets; legislative, political or economic developments; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of NioCorp’s projects; risks of accidents, equipment breakdowns and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining or development activities; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; and the risks involved in the exploration, development and mining business and the risks set forth under the heading “Risk Factors” in the Company’s S-1 registration statement and other filings with the SEC at www.sec.gov. NioCorp disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Autonomous Underwater Vehicles Market – Teledyne Gaviaehf.,kongsberg Maritime As , Bluefin Robotics Corporation , Saab Group Among Top Players

Autonomous underwater vehicle (AUV) is a kind of robot, which can travel and function underwater on its own. Such vehicles finds immense application in the oil and gas, research and defense industries among others. In the oil and gas industry, AUVs helps to make detailed maps of sea floor. The detailed maps ensures oil and gas companies to build subsea infrastructures and pipeline. In addition, AUV sea floor mappings allows the installation of subsea completions to be carried out in the most cost effective way causing less disruption to the environment under the sea. In the research industry, scientist carry out research of lakes, ocean floors and sea creatures with the help of AUVs. A number of sensors and other equipments can be fitted on the AUVs, which helps in the study of the concentration of numerous compounds or elements, presence of microscopic life and the reflection or absorption of light beneath the sea.
In the defense industry, AUVs have numerous military applications such as mine counter measures, anti-submarine warfare, intelligence and surveillance, oceanography, identification and inspection of unmanned objects, payload delivery, navigation network nodes and communication, time-critical strike and information operations among others. In addition, such vehicles helps in the ship wreckage and air crash investigations. Moreover, AUVs can also be helpful in tracking illegal drug and human trafficking along with smuggling of goods and materials. For the purpose of inspection, surveillance and ocean floor mapping, AUVs are fitted with a number of sensors such as depth sensors, compasses, conductivity probes, thermistors, magnetometers sonars and sidescan. Autonomous underwater vehicles are powered by rechargeable batteries such as lithium polymer, lithium ion and nickel metal hydride. Some AUVs use primary batteries for its mission which allows twice the endurance compared to other power sources. In addition, few AUVs are powered by aluminum based semi fuel cells, which require high maintenance and expensive refills. Aluminum based AUVs emit large amount of waste products, which are required to be handled safely. In the coming years, AUVs are expected to be powered by combination of different power and battery management systems with super capacitors.

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Autonomous underwater vehicles range in size from lightweight portable to large vehicle such as 10 meters in length. Large AUVs have advantages in terms sensor payload capacity and endurance. The market for AUV is evolving and upcoming AUVs are expected to be hover capable, which will be used for light intervention and inspection for offshore energy applications.

The autonomous underwater vehicles market can be classified by application, by type and by technology. The application segment can be classified into oil and gas, research, defense and others. By type, the market can be segregated as shallow AUVs, medium AUVs and large AUVs.The technology segments is divided into collision avoidance, imaging, propulsion, navigation and communication.

In the autonomous underwater vehicles market, North America holds the largest market share followed by Europe, Asia Pacific, Middle East and Africa, and Latin America. Increasing defense expenditures coupled with the rising ocean research and application of autonomous underwater vehicles in the oil and gas industry in North America is driving the growth of this market in the region. However, in the coming years, Asia Pacific is expected to become the largest market considering the high growth rate of autonomous underwater vehicles in the region. China, India, Japan, South Korea and Australia are the key markets of the Asia Pacific region.

The key players in the autonomous underwater vehicles market include Teledyne Gaviaehf. (Iceland), Kongsberg Maritime AS (Norway), Bluefin Robotics Corporation (U.S.), Saab Group (Sweden), ECA Group (France),Fugro N.V. (Netherlands), Ocean Server Technology, Inc. (U.S.), Atlas Elektronik Group GmbH (Germany), International Submarine Engineering Ltd. (Canada)and Boston Engineering Corporation (U.S.) among others.

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