- Richmont Mines has a quality asset base in Canada including its Island Gold and Beaufor mines, with a growing production profile and decreasing cost structure. - In 2015, mineral reserves increased 187% overall, with a 206% increase at Island Gold and a 95% increase at Beaufor, extending mine lives. - At Island Gold, a preliminary economic assessment outlined an average annual production of 78,000 ounces of gold from 2017-2022 at cash costs of C$552/oz, with potential for expansion. - For 2016, consolidated gold production is estimated at 87,000-97,000 ounces at cash costs of C$930-C$1,000/oz and all-in

1. TSX – NYSE MKT: RIC
2016 Annual General Meeting
May 12, 2016

2. www.richmont-mines.com 2
RICHMONT MINES OVERVIEW
Quality Asset Base in Canada
Growing Production Profile
Decreasing Cost Structure
Growing Cash Flow Streams
Significant Exploration Potential
Strong Balance Sheet
Favourable Canadian Dollar Exposure
Low Shares Outstanding (59M)

3. www.richmont-mines.com 3
CAPITAL STRUCTURE
Capital Structure(1)
Issued & Outstanding Shares 58.7M
Options 2.9M
Fully Diluted 62.8M
Cash(1) C$61.2
Total Debt(2) C$9.0M
Ticker RIC:TSX–NYSE
Market Capital (May 10/16) C$591M
(1) As of March 31, 2016
(2) As of March 31, 2016. Long-term debt is primarily comprised of capital lease obligations
C$61.2M
CASH
C$9.0M
DEBTAnalyst Coverage
CIBC Jeff Killeen
Macquarie Capital Markets Michael Gray
National Bank Financial Adam Melnyk
PI Financial Brian Szeto
TD Securities Daniel Earle
Paradigm Capital Don Blyth
Cormark Securities Kyle MacPhee
Mackie Research Ryan Hanley
Canaccord Genuity Rahul Paul
BMO Capital Markets Brian Quast
Haywood Securities Kerry Smith
Scotia Capital Craig Johnston
Desjardins Capital Mike Parkin
RIC
(as of May 10, 2016)
TSX
C$
NYSE MKT
US$
Closing price $10.07 $7.77
52-week range $3.14-$10.16 $2.27-$7.99
Market Cap (M’s) $591M $462M
30-day daily trading avg. 360,511 444,466
Strong cash position supports fully
funded strategic growth plan

4. www.richmont-mines.com 4
2015
YEAR IN REVIEW
In 2015 with a renewed focus and clear
strategy we reinvested in our operations to
position the company for long-term success
and shareholder value creation.
During the year we grew
production and invested
in Island Gold to unlock
the inherent potential of
this asset.
We grew our reserve
inventory and extended mine
life at both operations, putting
Richmont in the strongest
position in its 35-year history.

5. www.richmont-mines.com 5
MINERAL RESERVES INCREASE BY 187%
63,850
Gold oz.
561,700
Gold oz.
0
100
200
300
400
500
600
700
2012 2013 2014 2015
MineralReserves(000’sounces)
Monique Beaufor Island Gold
Mineral Reserves Growth
Proven and Probable Mineral Reserves(1)(2)
Island Gold Mine and Beaufor Mine
Gold ounces Grams per tonne
December 31 2015 2014
Change
(%)
2015 2014
Change
(%)
Island Gold Proven & Probable
above ~400m 76,700 90,000 (15%) 6.91 6.04 14%
below ~400m 485,000 93,750 417% 8.52 6.76 26%
Island Gold Proven & Probable 561,700 183,750 206% 8.26 6.39 29%
Beaufor Proven & Probable 63,850 32,750 95% 6.57 7.06 (7%)
Total Proven & Probable 625,550 217,950 187% 8.05 6.43 25%
1. Refer to the detailed mineral reserve and mineral resource tables follow at the end of this presentation.
2. No changes to Mineral Reserves were made at the Corporation’s other properties.
• Island Gold Reserves increase by 206%
• 29% increase in grade to 8.26 g/t
• 80% of PEA resources converted
• Mine life of 7 years (based on reserves)
• Beaufor Reserves increases by 95%
• Mine life > 2 years (based on reserves)
• Conversion primarily from the Q Zone
Significant exploration
potential for additional
reserve growth

6. www.richmont-mines.com 6
OPERATIONAL HIGHLIGHTS
Consolidated Results 2015 Q1 2016
2016
Guidance
Gold produced (oz) 98,031 32,369 87,000-97,000
Cash cost per oz. (CAN$)(1) $977 $806 $930-$1,000
AISC per oz (CAN$)(1) $1,373 $1,100 $1,275-$1,390
Cash cost per oz. (US$)(1) $764 $587 $680-$730(2)
AISC per oz(US$)(1) $1,074 $801 $935-$1,015(2)
(1) Refer to the Non-IFRS performance measures contained in the Annual MD&A and Q1 2016 MD&A
(2) 2016 Guidance assumes a foreign exchange rate of 1.364 Canadian dollars to the US dollar.
(1) Mine life based on 2015 Mineral Reserves and Resources
Reserves increased by 187%; 206% at Island Gold; 95% at Beaufor
Island Gold mine life increased to 7 years(1) with 3 years mine life pre-developed
Beaufor mine life increased to more than 2 years(1)
Released Preliminary Economic Assessment for Island Gold (Oct 28/15)
Record Q1 2016 production underpinned by another record quarter from Island Gold
2015 Operational Highlights

7. www.richmont-mines.com 7
Q1 Record Production; tracking high-end guidance
Cash Costs and AISC well below guidance
Positive grade reconciliation of 44% YTD
Improved mining and milling productivities
Updated mining & milling study; H2 2016
1,150 tpd expansion decision; H1 2017
CANADIAN HIGH-GRADE UNDERGROUND MINE
Safe operation, 5 years without lost-time injury
Exceeded revised production guidance
In-line Cash Costs and AISC
Issued PEA Base Case (800tpd)
Mill capacity expanded to 900 tpd
Strategic exploration program launched
2015
Q1
2016
2016
Guidance
PEA
2017-2022
Avg.
Gold Production (oz) 55,040 26,589 62,000-67,000 78,000
Gold Sold (oz) 52,363 26,031 - -
Cash costs/oz (C$)(1) $1,034 $674 $900-$960 $552
AISC (C$)(1) $1,460 $855 $1,160-$1,250 $639
Cash costs/oz (US$)(1) $808 $491 $660-$705(2) $414
AISC (US$)(1) $1,141 $623 $850-$920(2) $479
(1) Refer to the Non-IFRS performance measures contained in the Annual MD&A.
(2) 2016 Guidance a foreign exchange rate of 1.364 Canadian dollars to the US dollar.
63% INCREASE IN PRODUCTION SINCE 2013
2015 Highlights 2016 Highlights & Objectives

8. www.richmont-mines.com 8
ISLAND GOLD:
2016 DEVELOPMENT AND MINE PLAN

9. www.richmont-mines.com 9
• Conceptual expansion case released in H2 2016; Potential Expansion Case
to 1,150 tpd decision in H1 2017
ISLAND GOLD: PEA OVERVIEW
• Potential for increased production and lower AISC
0
200
400
600
800
1000
1200
2015 Q1 2016 PEA Base
Case
Permitted
Capacity
PEA
Expanded
Case
Tonnesperday
• Phased approach: Phase 1 (800 tpd)
• Mining from a depth of 450 to 860 metres over three long-hole mining horizons
• Excludes resources above the 450 metre level, isolated resource blocks and parallel zones
• Avg. production of approx. 78,000 gold ounces per year from 2017 to 2022 at
C$552/oz cash costs
PEA Summary 2017-2022 (C$)
Tonnes Milled (Mt) 1.7
Head Grade (g/t) 8.67
Mine life excl. transition period (years) 6
Daily mine production (tpd) 801
Gold recovery (%) 96.5
Production (Koz) 464.6
Average annual gold production (Koz) 78
Total operating cost (C$M) 256
Average cash operating cost (C$/t) 148
Average cash operating cost (C$/oz) 552
Transition Period Project Capital 2015-2016 (C$M) 62
Sustaining Capital (C$M) (2017-2022) 40.5
Mill Expansion Opportunity

10. www.richmont-mines.com 10
Underground Mine Productivity
ISLAND GOLD MINE:
POSITIONING FOR GROWTH
0.0
2.0
4.0
6.0
8.0
10.0
12.0
0
100
200
300
400
500
600
700
800
900
1000
Q414
Q115
Q215
Q315
Q415
2016E
PEA
(800tpd)
Q116
Upside
(900tpd)
Gramspertonne
Tonnesperday
Underground tpd Head grade (g/t)
Island Gold 2014 2015 Q1 2016 2016E
Underground (tpd) 601 659 853 800
Mill (tpd) 632 663 834 800
Head grade (g/t) 5.91 7.31 11.31 7.0-7.5
Recoveries (%) 96.3 96.8 96.3 96.5
(1) Fourth quarter production and mine and mill productivity: Includes a 3-week scheduled underground mine
shutdown and a 2-week scheduled mill shutdown
Tonnes mined from development ore:
• 2015: 50% / 2016E: 40% / PEA: 5%
First 2 mining horizons developed, third
horizon development in progress
3 years of mine life pre-developed
Tailings expansion complete (2.3MT)
-
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
2014 2015 2016E(1) PEA Base
Case
(800tpd)(2)
Upside
Potential
(900tpd)(3)
(1) Mid-range of 2016 guidance
Island Gold Production Upside
(2) Avg. annual production 2017-2022 (3) Permitted potential
OzAu
2016E (1) PEA Base
Case
(800tpd) (2)
Upside
Potential
(900tpd) (3)

11. www.richmont-mines.com 11
ISLAND GOLD MINE: EXPLORATION PROGRAM

12. www.richmont-mines.com 12
ISLAND GOLD MINE: REGIONAL EXPLORATION

13. www.richmont-mines.com 13
BEAUFOR MINE: OVERVIEW
(1) Refer to the Non-IFRS performance measures contained in the Annual MD&A and in Q1
2016 MD&A
(2) 2016 Guidance assumes a foreign exchange rate of 1.364 Canadian dollars to the US dollar
2015 Q1 2016 2016 Guidance
Gold Production (oz) 26,411 4,615 25,000-30,000
Gold Sold (oz) 26,875 5,037 -
Cash costs/oz (C$)(1)
$995 1,398 $1,000-$1,060
AISC (C$)(1)
$1,216 $1,730 $1,230-$1,330
Cash costs/oz (US$)(1)
$778 1,018 $735-$780(2)
AISC (US$)(1)
$951 $1,260 $905-$975(2)
Reserves increased by 95%; mine life
increased by 2 years (based on reserves)
Development of the Q Zone; Stope mining in Q4
Generating free cash flow (2016-2017)
Camflo Mill: capacity of 1,200 tpd provides
toll milling opportunities

14. www.richmont-mines.com 14
MONIQUE MINE: OPERATIONAL HIGHLIGHTS
(1) Refer to the Non-IFRS performance measures contained in the Annual MD&A.
Mining of the open pit completed January 2015
Stockpile processed in 2015; grade of 2.37 g/t gold
Cash Costs & AISC in-line with guidance
Provided strong Free Cash Flow generation
Processed remaining 16,063 stockpile tonnes at 2.31 g/t in (Q1 2016)
Produced 1,165 ounces at cash costs of $1,185/oz, incl. $715 non-cash charge (Q1 2016)
Monique Mine
Twelve-months ended
Dec. 31/15
Twelve-months ended
Dec. 31/14
Gold produced (oz) 16,580 23,675
Gold sold (oz) 17,657 23,490
Cash cost per oz (CAN$)(1) 782 910
AISC per oz (CAN$)(1) 798 958
Realized gold price per oz(CAN$) 1,486 1,387
Cash cost per ounce (US$)(1) 612 824
AISC per oz (US$)(1) 625 867

15. www.richmont-mines.com 15
2016 OPERATIONAL ESTIMATES
2016 Production and Cost Guidance
2016 Capital Investment Guidance
Operational Estimates Island Gold Beaufor
2016 Consolidated
Estimates
Gold Ounces Produced 62,000-67,000 25,000-30,000 87,000-97,000
Cash Costs per oz (CAD$)(1) $900-$960 $1,000-$1,060 $930-$1,000
Sustaining Capital per oz (CAD$) $260-$290 $230-$270 $250-$280
Corporate G&A per oz (CAD$) - - $95-$110
All-in Sustaining Costs per oz (CAD$)(1) $1,160-$1,250 $1,230-$1,330 $1,275-$1,390
Cash Costs per oz (US$)(1) $660-$705 $735-$780 $680-$730
Sustaining Capital per oz(US$) $190-$215 $170-$195 $185-$205
Corporate G&A per oz (US$) - - $70-$80
All-in Sustaining Costs per oz(US$)(1) $850-$920 $905-$975 $935-$1,015
(1) Cash costs and AISC are non-IFRS measures. Refer to the Non-IFRS performance measures section in the Annual MD&A.
Capital and Exploration Investment ($M) Island Gold Quebec Division
2016 Consolidated
Estimates
Sustaining Capital (CAD$) $17.3 $6.8 $24.1
Project Capital (CAD$)(3) $43.4 $ - $43.4
Company-wide Exploration (CAD$) $7.3(1) $1.1(2) $8.4
Sustaining Capital (US$) $12.7 $5.0 $17.7
Project Capital (US$)(3) $31.8 $ - $31.8
Company-wide Exploration (US$) $5.4 $0.8 $6.2
(1) Exploration costs required to complete the drilling programs announced in September 2015.
(2) All delineation and exploration drilling for the Beaufor Mine is included in sustaining capital and $1.1 million is related to the Quebec division outside the Beaufor property.
(3) Project Capital for Island Gold includes accelerated underground development of $25.0 million (US$18.3 million) related to the PEA and $6.0 million (US$4.4 million) related to discretionary
development outside the scope of the PEA.
Material assumptions include: an average gold price of CAD$1,500 per ounce (US$1,100 per ounce); and a foreign exchange rate of 1.364 Canadian dollars to the US dollar.

16. www.richmont-mines.com 16
WELL POSITIONED FOR SUSTAINABLE GROWTH
Significant Exploration Potential
Strong Balance Sheet
Favourable Canadian Dollar Exposure
Low Shares Outstanding (59M)
Quality Asset Base in Canada
Growing Production Profile
Decreasing Cost Structure
Growing Cash Flow Streams
Island Gold Mine Core Beaufor Mine Q Zone

17. APPENDIX

18. RICHMONT MINES: BOARD OF DIRECTORS
RENÉ MARION
P. ENG
Chairman of
the Board
MICHAEL PESNER
CA
Director and Chairman of
the Audit Committee
RENAUD ADAMS
P. ENG
Director, President
and Chief Executive Officer
PETER BARNES
CA
Director
ELAINE ELLINGHAM
www.richmont-mines.com RIC: TSX NYSE-MKT18
P. Geo., MBA
Director

19. www.richmont-mines.com 19
CHRISTIAN BOURCIER
Vice-President,
Operations
P. ENG
President and
Chief Executive Officer
P. ENG
RICHMONT MINES: MANAGEMENT TEAM
RENAUD ADAMS DANIEL ADAM
Vice-President,
Exploration
GEO PHD
NICOLE VEILLEUX
Vice-President,
Finance
CPA, CA
JEAN BASTIEN
Island Gold Mine
General Manager
P. ENG, MBA
MARC-ANDRÉ LAVERGNE
Beaufor Mine and Camflo Mill
General Manager
P. ENG
MAXIME GRONDIN
Director,
Human Resources
CIRC
MÉLISSA TARDIF
ANNE DAY
Vice-President,
Investor Relations
MBA
STEVE BURLETON
Vice-President,
Business Development
CFA, MBA
Director,
Business Performance
Management and
Infrastructure
BSC ISE
MIGUEL MENDOZA
Lawyer and
Corporate Secretary
LLB

20. www.richmont-mines.com 20
Q1 RECORD PRODUCTION:
POSITIVE RECONCILIATION TO RESERVES
(1) Reconciliation Mined to Reserves as of March 31st, 2016
Record production in Q1; Higher than planned grades mined
Development ore ratio strategically increased to 55% (vs. 40% planned) in Q1
Development primarily in the higher-grade second mining horizon
YTD positive grade reconciliation of 44%: (47% development / 39% stope)
30% dilution assumption for development reserves; lower dilution
from deeper, wider zones
Reserves (as of Dec 31st, 2015) Mined (reconciled) Variations (Mined vs Reserves)
Diluted
Tonnes
Diluted
Grade
Diluted
Ounces
Reconciled
Tonnes
Reconciled
Grade
Reconciled
Ounces Tonnes Grade Ounces
Total Development Q1 44,323 8.28 11,795 42,601 12.19 16,701 96% 147% 142%
Total Stope Q1 34,877 7.13 7,991 34,995 9.92 11,166 100% 139% 140%
Total U/G Q1 79,199 7.77 19,785 77,596 11.17 27,867 98% 144% 141%
Year-to-Date Reserve Reconciliation (1)

21. www.richmont-mines.com 21
ISLAND GOLD MINE
Histogram of the Ext C Samples

22. www.richmont-mines.com 22
ISLAND GOLD MINE
Log Normal Probability Plot (Ext C Drill Hole Samples)

23. www.richmont-mines.com 23
49,196
oz
MINERAL RESERVES AND RESOURCES
Richmont Mines 2015 Mineral Reserve
and Resource Estimates
December 31, 2015 December 31, 2014
Tonnes Grade Ounces Tonnes Grade Ounces
(metric) (g/t Au) (metric) (g/t Au)
ISLAND GOLD MINE
Proven Reserves2 (above -400m) 97,000 7.00 21,800 173,000 6.25 34,700
Probable Reserves2 (above -400m) 248,000 6.88 54,900 290,500 5.91 55,300
Total Proven & Probable (above -400m) 345,000 6.91 76,700 463,500 6.04 90,000
Proven Reserves2 (below -400m) 266,500 7.72 66,100 86,000 6.57 18,150
Probable Reserves2 (below -400m) 1,504,000 8.66 418,900 345,500 6.81 75,600
Total Proven & Probable (below -400m) 1,770,500 8.52 485,000 431,500 6.76 93,750
Total Proven & Probable Reserves2 2,115,500 8.26 561,700 895,000 6.39 183,750
Measured Resources (above -400m) 7,500 5.80 1,350 26,000 5.30 4,400
Indicated Resources (above -400m) 235,500 6.96 52,700 269,500 6.98 60,450
Indicated Resources3 (below -400m) 105,500 5.20 17,650 438,000 10.95 154,200
Total Measured & Indicated Resources 348,500 6.40 71,700 733,500 9.29 219,050
Inferred Resources (above -400m) 412,500 7.44 98,700 369,500 6.97 82,800
Inferred Resources3 (below -400m) 2,402,500 8.67 669,350 3,178,000 9.00 919,950
Total Inferred Resources 2,815,000 8.49 768,050 3,547,500 8.79 1,002,750
BEAUFOR MINE4
Proven Reserves2 35,600 7.31 8,350 53,000 7.13 12,100
Probable Reserves2 266,500 6.48 55,500 91,500 7.02 20,650
Total Proven and Probable Reserves 302,100 6.57 63,850 144,500 7.06 32,750
Measured Resources 109,000 5.32 18,600 111,500 5.30 19,000
Indicated Resources 734,000 6.50 153,300 805,500 6.60 170,850
Total Measured & Indicated Resources 843,000 6.34 171,900 917,000 6.44 189,850
Total Inferred Resources 135,000 6.44 28,000 743,000 6.51 155,600
MONIQUE MINE5
Proven Reserves2
Probable Reserves2 14,500 3.16 1,450
Total Proven & Probable Reserves2 14,500 3.16 1,450
Total Indicated Resources 107,500 4.88 16,850 107,500 4.88 16,850
WASAMAC GOLD PROPERTY6
Measured Resources 3,124,500 2.75 276,550 3,124,500 2.75 276,550
Indicated Resources 12,127,000 2.89 1,125,700 12,127,000 2.89 1,125,700
Total Measured & Indicated Resources 15,251,500 2.86 1,402,250 15,251,500 2.86 1,402,250
Total Inferred Resources 18,759,000 2.66 1,605,400 18,759,000 2.66 1,605,400
FRANCOEUR GOLD PROPERTY6, 7
Measured Resources 40,000 5.89 7,600 40,000 5.89 7,600
Indicated Resources 280,000 6.55 59,000 280,000 6.55 59,000
Total Measured & Indicated Resources 320,000 6.47 66,600 320,000 6.47 66,600
Total Inferred Resources 18,000 7.17 4,150 18,000 7.17 4,150
TOTAL RESERVES AND RESOURCES
Proven & Probable Reserves 2,417,600 8.05 625,550 1,054,000 6.43 217,950
Measured & Indicated Resources 16,870,500 3.19 1,729,300 17,329,500 3.40 1,894,600
Inferred Resources 21,727,000 3.44 2,405,600 23,067,500 3.73 2,767,900
1. Mineral Resources presented are exclusive of Mineral Reserves. Mineral Resources that are not Mineral Reserves do
not have demonstrated economic viability.
2. In 2015, based on a gold price of C$1,300 per ounce and an exchange rate of C$1.2037 = US$1.00.
(In 2014: gold price of C$1,300 per ounce and C$1.0833 = US$1.00).
3. Underground Resources established for the C Zone and six other lateral zones below a vertical depth of -400 metres.
4. W Zone and 350 Zone Mineral Reserves and Mineral Resources are included with the Beaufor Mine as at
December 31, 2015 and 2014.
5. Monique Mineral Reserves are open-pit, and Mineral Resources are located underground directly below the open-pit.
6. Underground Mineral Resources established as of December 31, 2012.
7. Francoeur Mine closed in November 2012.