Richmond Minerals Inc.

April 29, 2011 14:07 ET

Richmond Minerals Inc. Makes Management Changes

TORONTO, ONTARIO--(Marketwire - April 29, 2011) -Richmond Minerals Inc. (TSX VENTURE:RMD) ("Richmond" or the "Company") announces that certain changes have been made to management. Franz Kozich, currently a director, has been appointed as President and Chief Executive Officer to replace Birks Bovaird who has resigned President, Chief Executive Officer and a director. Andrew McGuire has been appointed Acting Chief Financial Officer to replace Ian A. Shaw who has resigned as Chief Financial Officer. France Crawford has resigned as Corporate Secretary and Mr. Michael Sheridan was appointed to the board of directors.

Mr. Sheridan is the Chief Executive Officer and Director of Norstar Securities International, a member of the Investment Industry Regulatory Organization of Canada. Mr. Sheridan is also the founder and President of a number of private investment companies that are active in many sectors of the securities trading business.

The board of directors of Richmond wishes to thank the outgoing management for their assistance and dedication to the Company. Richmond Minerals is undertaking a strategic review of its assets and will provide further updates.

The company also announces that a 6-month extension has been granted to the $100,000 non-brokered convertible note previously reported on March 4, 2010.

This news release contains forward-looking statements. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

Shares Issued and Outstanding: 79,059,239

Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the Canadian National Stock Exchange has reviewed this news release and neither accepts responsibility for the adequacy or accuracy of this news release.

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