NYSE Alternext US : RIC

Patricia Mining Corp.

Patricia Mining Corp.

November 20, 2006 09:11 ET

Richmont Mines Inc.: First Gold Pour at the Island Gold Project

MONTREAL, QUEBEC--(CCNMatthews - Nov. 20, 2006) - Richmont Mines Inc. (TSX:RIC)(AMEX:RIC) and Patricia Mining Corp. (TSX VENTURE:PAT) are pleased to announce the first gold pour at the Island Gold project. As part of its advanced underground exploration program, the CIP mill began operations last September in order to process a surface stockpile of approximately 30,000 tonnes of mineralized material from underground development and test mining.

The first planned gold pour was completed on November 15, 2006 and yielded one gold Dore bar of an approximate gross weight of 530 ounces. The bar has been shipped to the Royal Canadian Mint for refining and final determination of gold content. Assisting at Island Gold's first gold pour, Mr. Chadder stated "I am very pleased with the culmination of efforts by the Patricia team and the development to date by Richmont which has lead to this first Gold Pour."

The processing of the mineralized material from the underground development and test mining is on-going and a second gold pour is planned for this week. Upon completion of the current program, technical parameters and metallurgical results will be used for the reserve calculation with the objective of advancing the Island Gold project towards commercial production.

Martin Rivard Chris Chadder
President and President and
Chief Executive Officer Chief Executive Officer
Richmont Mines Inc. Patricia Mining Corp.

Disclosure Regarding 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 Patricia Mining Corp. and Richmont Mines' Annual Information Form, Annual Report and periodic reports.

This news release was prepared by the companies' management teams, which assume full responsibility for its content. The TSX Venture Exchange has not reviewed this news release and accepts no responsibility for its veracity or accuracy.

Contact Information

  • Richmont Mines Inc.
    Julie Normandeau
    Investor Relations
    514-397-8620 (FAX)
    Patricia Mining Corp.
    Gus Garisto, Investor Relations
    Michael D'Amico, Investor Relations