RICHMONT MINES INC.

RICHMONT MINES INC.
Patricia Mining Corp.

Patricia Mining Corp.

January 11, 2005 10:38 ET

Patricia Mining Corp. and Richmont Mines Continue to Expand the Island Gold Deposit


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: RICHMONT MINES INC.

AMEX, TSX SYMBOL: RIC



AND PATRICIA MINING CORP.

TSX VENTURE SYMBOL: PAT

JANUARY 11, 2005 - 10:38 ET

Patricia Mining Corp. and Richmont Mines Continue to
Expand the Island Gold Deposit

MONTREAL, QUEBEC--(CCNMatthews - Jan. 11, 2005) - Patricia Mining Corp.
(Patricia Mining) (TSX VENTURE:PAT) and Richmont Mines Inc.
(AMEX:RIC)(TSX:RIC) are pleased to announce assay results from a
recently completed Interim underground drilling campaign totalling seven
holes for 3,640 meters at the Island Gold Project in November and
December of 2004.

Highlights in the tables below include several high grade gold
intercepts from the C, D and E sub-parallel zones. Zone E has
intersection lengths ranging from 1.5 to 6.5 meters with average grades
ranging from 5.4 to 22.5 g/t. Zones C and D contain intersections
varying in lengths from 1.3 to 2.0 meters with average grades ranging
from 1.6 to 19.4 g/t.



TABLE 1: UNDERGROUND DIAMOND DRILLING COMPOSITE ASSAY
RESULTS ZONE "E"
-------------------------------------------------------------------
-------------------------------------------------------------------
Estimated
Core True Au Grade
DDH FAN Mine EI. From Length Thickness (i)Cut
(m) (m) (m) (m) (g/t)
-------------------------------------------------------------------
Section 15015E
PR-UG-57 -370 319.2 6.5 3.0 7.3
-------------------------------------------------------------------
Section 15040E
PR-UG-56 -320 272.0 1.5 1.0 5.7
-------------------------------------------------------------------
Section 15050E
PR-UG-52 -385 342.5 2.5 1.3 5.4
-------------------------------------------------------------------
Section 15060E
PU-UG-54 -350 285.5 2.0 1.3 12.0
-------------------------------------------------------------------
Section 15090E
PR-UG-53 -440 395.6 3.9 2.0 22.5
-------------------------------------------------------------------
Section 15100E
PR-UG-55 -380 347.0 1.7 1.0 7.1
-------------------------------------------------------------------
Section 15230E
PR-UG-58 -470 No significant values
-------------------------------------------------------------------
-------------------------------------------------------------------


TABLE 2: UNDERGROUND DIAMOND DRILLING COMPOSITE ASSAY
RESULTS ZONES "C & D"

-------------------------------------------------------------------
-------------------------------------------------------------------
Estimated
Core True Au Grade
DDH FAN Mine EI. From Length Thickness (i)Cut
(m) (m) (m) (m) (g/t)
-------------------------------------------------------------------
Section 15015E
PR-UG-57 -383 341.4 2.0 1.3 19.4
350.0 1.9 1.3 15.9
-------------------------------------------------------------------
Section 15040E
PR-UG-56 -333 299.0 1.5 0.9 3.3
-------------------------------------------------------------------
Section 15050E
PR-UG-52 -400 398.0 2.0 1.0 2.6
-------------------------------------------------------------------
Section 15060E
PR-UG-54 -362 309.0 1.8 1.3 16.5
-------------------------------------------------------------------
Section 15090E
PR-UG-53 -449 411.6 1.9 1.0 1.6
-------------------------------------------------------------------
Section 15100E
PR-UG-55 -388 362.4 1.3 0.7 4.1
-------------------------------------------------------------------
Section 15230E
PR-UG-58 -480 560.3 1.7 1.2 3.4
-------------------------------------------------------------------
-------------------------------------------------------------------

(i) Cut to 75 g/t

Note: Pulp metallic analyses were performed on sample intervals
containing visible gold.


The results from DDH's 53, 54 and 57 are encouraging as they show
enrichment in Zones E, D and C and are spatially located down plunge of
DDH PR-UG-41 and 42 which were reported in the 43-101 technical report
and were included in the resource calculation. Hole PR-UG-41 intersected
21.1 g/t Au over 1.0 meter horizontal thickness (Zone D) while hole
PR-UG-42 intercepted 22.3 g/t Au over 1.9 meters horizontal thickness
(Subzone E1), 20.6 g/t Au over 1.3 meters horizontal thickness (Zone E)
and 8.7 g/t Au over 1.3 meters horizontal thickness (Zone C). These
results will increase the inferred resource of the Island Gold deposit.

Roscoe Postle Associates Inc. has been retained to update the National
Instrument 43-101 Mineral Resource estimate by the end of January, 2005.

The drilling results continue to show good continuity of the zones both
vertically and horizontally. The steeply dipping vein structures are
associated with discrete pyritized and silicified alteration envelopes
which can be correlated with greater confidence from the -125 m level
down dip to the -450 m level. The C, D and E gold-bearing zones are open
at depth and potential for expansion of these lenses continue to exist.

Richmont Mines has mobilized personnel and equipment to the site and is
now managing the project. The next phase will be to continue to explore
for additional resources while accessing the ore zones. Patricia Mining
and Richmont Mines and are working together to bring the mine into
production while maximizing the ore resources defined.

Richmont Mines is now in the process of earning a 55% undivided joint
venture interest in the Island Gold Project by placing the project into
production and/or expending $10 million on the project.

National Instrument 43-101

The underground diamond drilling program involving geological core
logging, sampling and assaying tasks is supervised by Peter Hubacheck,
P.Geo.; a qualified person designated by National Instrument 43-101.
Underground supervision of drilling operations and survey controls for
the Interim Program was provided by Patricia Mining and Richmont Mines
management. The assays were conducted at Accurassay Laboratories -
Mineral Assay Division at Thunder Bay, Ontario.

Forward-looking statements

This news release contains forward-looking statements that include risks
and uncertainties. The factors that could cause actual results to differ
materially from those indicated in such forward-looking statements
include 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 revenues and production costs. Other
factors such as uncertainties regarding government regulations could
also affect the results. Other risks may be detailed in periodic reports
from Patricia Mining Corp. and Richmont Mines Inc.

This release was prepared by management of the Companies who take full
responsibility for its contents. The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or accuracy
of this news release.

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Richmont Mines Inc.
    Martin Rivard
    Executive Vice President
    (514) 397-1410
    (514) 397-8620 (FAX)
    Web site: www.richmont-mines.com
    or
    Patricia Mining Corp.
    Jean-Pierre Chauvin
    President and CEO
    (416) 214-4900
    (416) 864-0620 (FAX)
    Web site: www.patriciamining.com