Mr. Paul Carmel reports

RICHMONT MINES ANNOUNCES THE APPOINTMENT OF MR. PIERRE ROUGEAU AS CHIEF FINANCIAL OFFICER

Richmont Mines Inc. has appointed Pierre Rougeau to the position of executive vice-president and chief financial officer, effective Dec. 3, 2012. Mr. Rougeau will be based at Richmont's corporate office in Montreal.

Paul Carmel, president and chief executive officer of Richmont Mines, stated: "We are very pleased to welcome Mr. Rougeau to our team. In addition to bringing almost 30 years of business and operational experience to Richmont, Mr. Rougeau's financial background, which includes six years as CFO for Abitibi Consolidated Inc., will add depth and focus to our management team. In particular, his knowledge of finance, controls, treasury, in addition to his experience in the capital markets, will complement Richmont's current executive team in our endeavour to create long-term value for Richmont shareholders. We are fortunate to have been able to recruit such a high-calibre individual as Mr. Rougeau to be our CFO."

About Mr. Rougeau

Mr. Rougeau was executive vice-president, operations and sales, for AbitibiBowater Inc. from 2009 through 2011, chief financial officer for Abitibi Consolidated from 2001 to 2007, head of forest products investment banking at UBS Warburg -- Canada from 1998 to 2001 and worked at McLeod Young Weir/Scotia Capital from 1986 to 1998, where he held various positions in investment banking, including managing director. Mr. Rougeau holds a bachelor of science in business administration (accounting) from St-Louis University in Missouri and a master of science in finance from the University of Sherbrooke in Quebec.

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