The document provides an overview of Richmont Mines' first quarter 2017 financial results and operations. Key highlights include: - Solid production of 29,401 ounces of gold and costs in line with guidance. - Island Gold Mine performed well with 23,772 ounces produced at low costs. - Cash position of $75.2 million and expected cash flows will fund potential mill expansion at Island Gold. - Expansion Case PEA for Island Gold Mine expected in Q2 2017 and aims to optimize cash flow generation.

1. POSITIONING FOR
SUSTAINABLE
GROWTH
First Quarter 2017
Financial Results
May 4, 2017

2. 2
RIC: TSX NYSE
2
RICHMONT MINES
FORWARD-LOOKING STATEMENTS
Safe Harbor Statement & Cautionary Note to U.S. Investors Concerning Resources Estimates
This presentation contains forward-looking statements that include risks and uncertainties. When used in this presentation, the
words “estimate”, “projects”, “anticipate”, “expects”, “intend”, “believe”, “hope”, “may”, and similar expressions, as well as “will”, “shall”,
and other indications of future tense, are intended to identify forward-looking statements. The forward-looking statements are based on
current expectations and apply only as of the date on which they were made. Except as required by law or regulation, Richmont
undertakes no obligation and disclaims any responsibility to publicly update or revise any forward-looking statements of information,
whether as a result of new information, future events or otherwise. 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-U.S. exchange rate,
grade of ore mined and unforeseen difficulties in mining operations that could affect revenue and production costs. Other factors such
as uncertainties regarding government regulations could also affect the results. Other risks may be detailed from time to time
in Richmont Mines Inc.’s Annual Information Form and other public disclosure.
The resource estimates in this presentation were prepared in accordance with National Instrument 43-101 Standards of Disclosure of
Mineral Projects (“NI 43-101”) adopted by the Canadian Securities Administrators. The requirements of NI 43-101 differ significantly
from the requirements of the United States Securities and Exchange Commission (the “SEC”). In this presentation, we use the terms
“Measured”, “Indicated” and “Inferred” Resources. Although these terms are recognized and required to be used in Canada, the
SEC does not recognize them. The SEC permits U.S. mining corporations, in their filings with the SEC, to disclose only those mineral
deposits that constitute “Reserves”. Under United States standards, mineralization may not be classified as a Reserve unless the
determination has been made that the mineralization could be economically and legally extracted at the time the determination is
made. United States investors should not assume that all or any portion of a Measured or Indicated Resource will ever be
converted into “Reserves”. Furthermore, “Inferred Resources” have a great amount of uncertainty as to their existence and whether
they can be mined economically or legally, and United States investors should not assume that “Inferred Resources” exist or can be
legally or economically mined, or that they will ever be upgraded to a more certain category.
For additional information regarding the Mineral Reserves and Resources referred to in this presentation, please refer to the press
release dated Jan. 31, 2017 reporting Richmont Mines Mineral Reserve and Resource estimates as of Dec. 31, 2016.
U.S. Investors are urged to consider the disclosure in our annual report on Form 40-F, File No. 001-14598, which may be obtained from
us or from the SEC’s web site: http://sec.gov/edgar.shtml.
(All amounts are in Canadian Dollars, unless otherwise indicated.)

3. RIC: TSX NYSE
FIRST QUARTER 2017 RESULTS
CONFERENCE CALL AND WEBCAST
RENAUD ADAMS
P. ENG
President and
Chief Executive Officer
ROB CHAUSSE
CPA, CA
Chief Financial Officer
ANNE DAY
MBA, ICD.D
Senior Vice-President,
Investor Relations
CALL PARTICIPANTS

4. 4
RIC: TSX NYSE
4
Q1 2017 2017 Guidance
Gold produced (oz) 29,401 110,000 - 120,000
Cash cost per oz. (C$)(1) $791 $835 - $885
AISC per oz. (C$)(1) $1,124 $1,180 - $1,235
Cash cost per oz. (US$)(1,2) $598 $640 - $680
AISC per oz. (US$)(1,2) $849 $905 - $950
(1) Cash costs and all-in sustaining costs (“AISC”) are Non-IFRS measures. Refer to the Non-IFRS performance measures contained in the Q1 2017 MD&A.
(2) 2017 Guidance assumes an exchange rate of 1.30 Canadian dollars to 1.0 US dollar.
Company-wide Operational Highlights
 Strong Q1 production and cost performance supported by the Island Gold Mine
 On track to achieve consolidated annual guidance
 Island Gold Mine reports another consecutive quarter of solid performance:
 Gold production of 23,772 ounces at low cash costs and AISC
 Record underground mine and mill productivities
 Well positioned to achieve annual production and cost guidance
RICHMONT MINES
Q1 OPERATIONAL HIGHLIGHTS
All amounts are in Canadian Dollars unless otherwise indicated

5. 5
RIC: TSX NYSE
5
Island Gold:
 Expansion Case PEA well advanced and on track for a Q2 release
 1,100 tpd fully permitted expansion case scenario
 Reserves increased by 34% (net of depletion), at 11% higher grades
 Inferred resources increased by 30% at 20% higher grades
 Average discovery cost of less than $35 (US$26) per ounce
 Significant potential for short-term reserve expansion at higher average grades
 Primarily from the fourth mining horizon of the PEA area
 New high-grade mineralization identified in the eastern lateral extension
 Potential resource growth close to current underground infrastructure
Other Highlights:
 The Beaufor Mine returned to free cash flow status
 Robert J. Chausse appointed as CFO, strengthening senior management team
RICHMONT MINES
Q1 HIGHLIGHTS
All amounts are in Canadian Dollars unless otherwise indicated

6. 6
FINANCIAL HIGHLIGHTS

7. 7
RICHMONT MINES
Q1 OPERATIONAL HIGHLIGHTS
Island Gold Mine Beaufor Mine Consolidated
Q1 A 2017 E Q1 A 2017 E Q1 A 2017 E
Gold produced (‘000 oz) 23.8 87 - 93 5.6 23 - 27 29.4 110 - 120
Gold sold (‘000 oz) 22.6 - 5.9 - 28.5 -
Cash cost per ounce (C$)(1) $668 $715 - $765 $1,265 $1,265 - $1,320 $791 $835 - $885
AISC per ounce (C$)(1) $848 $945 - $995 $1,580 $1,540 - $1,590 $1,124 $1,180 - $1,235
Cash cost per ounce (US$)(1,2) $504 $550 - $590 $956 $975 - $1,015 $598 $640 - $680
AISC per ounce (US$)(1,2) $640 $725 - $765 $1,194 $1,185 - $1,225 $849 $905 - $950
(1) Refer to the Non-IFRS performance measures contained in the Q1 2017 MD&A.
(2) 2017 Guidance assumes an exchange rate of 1.30 Canadian dollars to 1.0 US dollar.
 Strong Q1 production and cost performance supported by the Island Gold Mine
 Well positioned to achieve consolidated annual guidance
All amounts are in Canadian Dollars unless otherwise indicated

8. 8
Q1 2017 Q1 2016
(in thousands, except per share amounts) C$ US$ C$ US$
Revenue from mining operations $46,462 $35,097 $52,634 $38,329
Net earnings per share, basic $0.09 $0.07 $0.15 $0.11
Operating cash flow(1,2), per share $0.26 $0.20 $0.36 $0.26
Net free cash flow, per share(2,3) $0.01 $0.01 $0.02 $0.01
(1) Before changes in non-cash working capital
(2) Refer to the Non-IFRS performance measures section contained in the MD&A for the corresponding reporting period.
(3) Net free cash flow per share is comprised of the Corporation’s operating cash flow, after changes in non-cash working capital , less investments in property,
plant and equipment
Strong cash position of $75.2 M (at March 31, 2017) and a
growing cash flow stream is expected to support a
fully funded potential 1,100 tpd expansion
RICHMONT MINES
Q1 FINANCIAL RESULTS
All amounts are in Canadian Dollars unless otherwise indicated

9. 9
RICHMONT MINES
Q1 CAPITAL EXPENDITURES & EXPLORATION
Island Gold Mine Beaufor Mine Consolidated
(in millions) Q1 A 2017 E Q1 A 2017 E Q1 A 2017 E
Sustaining Capital (C$) $4.1(1) $19 - $22 $1.6 $6 - $7 $5.7 $25 - $29
Expansion Capital (C$)(2) $5.9 $33 - $35 - - $5.9 $33 - $35
Exploration & Project Evaluation (C$) $3.8 $14 - $16 $0.3 $2 - $3 $4.1 $16 - $19
Sustaining Capital (US$)(3) $3.1(1) $15 - $17 $1.2 $5 - $6 $4.3 $19 - $22
Expansion Capital (US$)(2,3) $4.5 $25 - $27 - - $4.5 $25 - $27
Exploration & Project Evaluation (US$)(2,3) $2.8 $11 - $12 $0.2 $1 - $2 $3.0 $12 - $14
(1) Sustaining costs of $4.1 million at the Island Gold Mine have been capitalized.
(2) Expansion capital estimates for 2017 relate exclusively to the Island Gold Mine and are discretionary in nature. Ongoing deployment of project capital at the Island Gold
Mine is contingent upon the receipt of a confirmatory Preliminary Economic Assessment (“PEA”) for 1,100 tonnes per day and a minimum sustaining gold price of C$1,550
per ounce. Expansion capital is exclusive of capital requirements related to a mill expansion in 2018 as contemplated in the PEA.
(3) 2017 Guidance assumes an exchange rate of 1.30 Canadian dollars to 1.0 US dollar.
 Well positioned to achieve annual guidance
 Expansion capital primarily related to ongoing accelerated and underground development
 Operating cash flow expected to fully fund capital requirements
All amounts are in Canadian Dollars unless otherwise indicated

10. 10
OPERATIONS & OVERVIEW

11. 11
ISLAND GOLD MINE
Q1 OPERATIONAL HIGHLIGHTS
Island Gold Mine Q1 2017 2017 Guidance
Gold produced (oz) 23,772 87,000 - 93,000
Gold sold (oz) 22,649 -
Cash cost per ounce (C$)(1) $668 $715 - $765
AISC per ounce (C$)(1) $848 $945 - $995
Cash cost per ounce (US$)(1,2) $504 $550 - $590
AISC per ounce (US$)(1,2) $640 $725 - $765
(1) Refer to the Non-IFRS performance measures contained in the Q1 2017 MD&A.
(2) 2017 Guidance assumes an exchange rate of 1.30 Canadian dollars to 1.0 US dollar.
 Solid production: on track to achieve high-end of 2017 production guidance
 Low cash costs and AISC below current annual guidance
 Record underground mine (1,019 tpd) and mill (926 tpd) productivities
 Mill head grade (9.18 g/t); in line grade reconciliation
 Longhole stoping in first and second horizons; development in ore in third horizon
 Stoping in higher grade third horizon expected in fourth quarter
 Operating units costs of $181/tonne
All amounts are in Canadian Dollars unless otherwise indicated

12. 12
Production Upside
(1) Refer to the Non-IFRS performance measures section contained in the MD&A of the corresponding financial
reporting period.
(2) 2017 amounts represents the high-end of production guidance and low-end of cash costs guidance (see
Feb. 2, 2017 Press Release).
(3) Estimated production based on Base Case and Expansion Case scenarios outlined in Nov. 1, 2016 Press
Release and using 2016 average grade of 9.02 g/t.
Underground Productivity
$0
$200
$400
$600
$800
$1,000
$1,200
0
20,000
40,000
60,000
80,000
100,000
120,000
2014 2015 2016 2017E(2) Base Case
900tpd (3)
Exp. Case
1100tpd (3)
CashCosts(C$)(1)
AnnualGoldProduction(oz)
Annual Gold Production (oz) Cash Costs (C$)(1)
0.00
2.00
4.00
6.00
8.00
10.00
0
200
400
600
800
1,000
1,200
Gramspertonne
Tonnesperday
Underground tpd Head Grade (g/t)
(4) 2015 productivity excludes a 3 week mine shutdown and a 2 week mill shutdown in the fourth quarter.
(5) Q3 2016 productivity excludes 16-day electrical upgrade shutdown of the underground mine
ISLAND GOLD MINE
OPERATIONAL PERFORMANCE
Island Gold Mine Q1 2017 2017 Guidance
Underground tpd 1,019 900
Mill tpd 926 900
Head grade (g/t gold) 9.18 8.90
Recoveries (%) 96.7 96.5
Sustaining costs ($M) $4.1 $19 - $22
Project costs ($M) $5.9 $33 - $35
Non-sustaining exploration costs ($M) $3.8 $14 - $16
All amounts are in Canadian Dollars unless otherwise indicated

13. 13
RIC: TSX NYSE
13
Considers the most cost- and capital-effective plan to mine the portion of the mineral
resources located within the main area over four mining horizons, to a maximum depth
of 1,000 m below surface, using current mine infrastructure.
Recent achievements:
 Completed integration of December 31, 2016 Mineral Reserves and Resources into
1,100 tpd mine plan
 Received required permit amendments (December 2016) allowing for ore mining
and processing increase to 1,100 tpd
 Accelerated development of underground ramp system has advanced as planned
 Engineering and identification of main equipment required for mill expansion is well
underway; expected capital requirements for expanded milling capacity remains
below $15.0 million
 2017 mine plan and Expansion Case PEA are focused on optimizing cash flow
generation to fully fund current and future production and all strategic exploration
programs
Expansion Case PEA (Q2 2017)
ISLAND GOLD MINE
GROWTH OPPORTUNITIES
All amounts are in Canadian Dollars unless otherwise indicated

14. 14
RIC: TSX NYSE
14
GOUDREAULOCHALSH ISLAND EXT
1
EXT
2
- 500 m
340 m Level
190 m Level
W E
Crown pillar
Surface
EXPANSION CASE PEA
AREA
1000 m Level
635 m Level
740 m Level
860 m Level
Third Mining Horizon
P&P 984,000 11.71 370,460
Fourth Mining Horizon
P&P 309,000 8.74 86,830
- 1,000 m
Legend
Proven Reserves
Probable Reserves
Measured & Indicated Resources
Inferred Resources
Ramps and Actual
Development
Mined Out
Planned Development
Resources in table only include Island - Lower C Zone,
Extension 1 - Lower C Zone, and Extension 2 - Lower E1E Zone
200 m
620 m Level
Planned
Exploration
Drift
Total tonnes sourced:
65% stoped ore
• First horizon: 45%
• Second horizon 45%
• Third horizon 10%
35% development ore
• First horizon 25% (Ext 1 and Ext 2)
• Third horizon 75% (Lower C)
5,112 m of waste development
2017 MINE PLAN
860 m Level
Planned
Exploration
Drift
(Mineral Reserves and Resources as of December 31, 2016)
First Mining Horizon
Tonnes Grade (g/t) Ounces
P&P 427,000 5.86 80,450
1
740 m Level
Explo. &
Delineation Drift
HORIZON
2
3
4
HORIZON
HORIZON
HORIZON
Outside Expansion Case PEA Area
P&P 341,000 6.89 75,500
Total Inferred Resources
Inferred 3,042,000 10.18 995,700
Second Mining Horizon
P&P 490,000 8.82 138,950
ISLAND GOLD MINE
2017 MINE DEVELOPMENT PLAN

15. 15
RIC: TSX NYSE
15
ISLAND GOLD MINE
2017 DRILLING PROGRAM
620 m Level Planned
Explo. & Delineation Drift
860 m Level Planned
Explo. & Delineation Drift
GOUDREAULOCHALSH ISLAND EXT1 EXT2
- 500 m
- 1,500 m
W E
340 m Level
190 m Level
740 m Level
Explo. & Delineation Drift
- 1,000 m
200 m
Mineralized trend
2017 DELINEATION
DRILLING 30,000 m
2017 DEEP
EXPLORATION
DRILLING
36,000 m
Proven Reserves
Probable Reserves
Indicated Resources
Inferred Resources
Inferred Resources
(B, D, G, G1 Zones)
Ramps and Actual Development
Mined Out
Planned Development
Legend
**** Mineral Reserves and Resources
as of December 31, 2016)
2017
DELINEATION
DRILLING 7,000 m
2017 SURFACE/
UNDERGROUND
EXPLORATION
DRILLING
30,000 m
450 k oz inferred resources added in 2016 at $35/oz
GD-630-01
25.37/3.85
GD-620-01
19.74/1.4
NEW DISCOVERY
GD-640-05
20.57/11.3 c.l.
Potential Extension
**** Drillhole Intersection
Au (cut 70 g/t) / true thickness (metres)
c.l. Core length (metres)

16. 16
Beaufor Mine Q1 2017 2017 Guidance
Gold produced (oz) 5,629 23,000 - 27,000
Gold sold (oz) 5,879 -
Cash cost per ounce (C$)(1) $1,265 $1,265 - $1,320
AISC per ounce (C$)(1) $1,580 $1,540 - $1,590
Cash cost per ounce (US$)(1,2) $956 $975 - $1,015
AISC per ounce (US$)(1,2) $1,194 $1,185 - $1,225
Underground tpd 354 -
Mill tonnes 30,009 -
Head grade (g/t gold) 6.00 -
Recoveries (%) 97.2 -
Sustaining Costs ($M’s) $1.8 $6 - $7
(1) Refer to the Non-IFRS performance measures contained in the Q1 2017 MD&A.
(2) 2017 Guidance assumes an exchange rate of 1.30 Canadian dollars to 1.0 US dollar.
 Returned to free cash flow status
 Underground productivity increased to 354 tpd (403 tpd in March)
 Majority of mining activities transitioned to higher-grade Q Zone
 Additional mobile equipment commissioned during the quarter
 Operating costs and underground productivity expected to improve over 2017
BEAUFOR MINE
OPERATIONAL HIGHLIGHTS
All amounts are in Canadian Dollars unless otherwise indicated

17. 17
Q&A

18. 18
Another quarter of solid production and lower cash costs
Q1 2017 Q1 2016
Gold produced (oz) 29,401 32,369
Gold sold (oz) 28,528 32,239
Cash cost per ounce (C$)(1) $791 $800
AISC per ounce (C$)(1) $1,124 $1,094
Realized gold price per ounce (C$) $1,624 $1,629
Cash cost per ounce (US$)(1) $598 $583
AISC per ounce (US$)(1) $849 $797
Realized gold price per ounce (US$) $1,227 $1,186
(1) Refer to the Non-IFRS performance measures section contained in the MD&A for the corresponding reporting period.
RICHMONT MINES
CONSOLIDATED OPERATIONAL HIGHLIGHTS

19. 19
Production and Cost Guidance
Capital Investment Guidance
2017 Operational Estimates
Island Gold Mine
2017 Guidance
Beaufor Mine
2017 Guidance
2017 Guidance
Gold Ounces Produced 87,000 - 93,000 23,000 - 27,000 110,000 - 120,000
Cash Costs per Ounce (C$)(1) $715 - $765 $1,265 - $1,320 $835 - $885
Corporate G&A per Ounce (C$) - - $105 - $110
All-in Sustaining Costs per Ounce (C$)(1) $945 - $995 $1,540 - $1,590 $1,180 - $1,235
Cash Costs per Ounce (US$)(1)(2) $550 - $590 $975 - $1,015 $640 - $680
Corporate G&A per Ounce (US$)(2) - - $80 - $85
All-in Sustaining Costs per Ounce (US$)(1)(2) $725 - $765 $1,185 - $1,225 $905 - $950
2017 Operational Estimates ($M)
Island Gold Mine
2017 Guidance
Beaufor Mine
2017 Guidance
2017 Guidance
Sustaining Capital (C$) $19 - $22 $6 - $7 $25 - $29
Expansion Capital (C$)(3) $33 - $35 - $33 - $35
Exploration & Project Evaluation (C$) $14 - $16 $2 - $3 $16 - $19
Sustaining Capital (US$)(2) $15 - $17 $5 - $6 $19 - $22
Expansion Capital (US$)(2)(3) $25 - $27 - $25 - $27
Exploration & Project Evaluation (US$)(2) $11 - $12 $1 - $2 $12 - $14
(1) Refer to the Non-IFRS performance measures contained in the Q1 2017 MD&A.
(2) Assuming an exchange rate of 1.30 Canadian dollars to 1.0 US dollar.
(3) Expansion capital estimates for 2017 relate exclusively to the Island Gold Mine and are discretionary in nature. Ongoing deployment of project capital at the Island Gold Mine is contingent upon the receipt of
a confirmatory Preliminary Economic Assessment (“PEA”) for 1,100 tonnes per day and a minimum sustaining gold price of C$1,550 per ounce. Expansion capital is exclusive of capital requirements related to
a mill expansion in 2018 as contemplated in the PEA.
RICHMONT MINES
2017 OPERATIONAL ESTIMATES

20. 20
0
100
200
300
400
500
600
700
800
2012 2013 2014 2015 2016
MineralReserves(000’sounces)
Monique Beaufor Island Gold
Gold oz.
752,200
Island Gold Mine
reserve growth of
+34% in 2016
Gold oz.
44,920
2016 Reserve growth
 752,200 ounces of reserves (net of depletion)
with 11% increase in reserve grade to 9.17 g/t
 995,700 ounces (30% increase) of inferred
resources (net of conversion) with 20%
increase in grade to 10.18 g/t
 New resource blocks laterally to the east and
at depth below 1,000 metres
 Low discovery cost of ~$35/oz
ISLAND GOLD MINE
RESERVE & RESOURCE GROWTH
Exploration results support potential for resource growth
 New high-grade mineralization identified by recent exploration drilling
 ~800 m east of main Island Gold deposit
 Hole GD-640-05: 20.6 g/t gold over 11.3 m (core length)
Reserve growth potential in the higher grade fourth mining horizon
 Early results from delineation drilling completed within Expansion Case PEA area demonstrate
significant potential to further expand reserves at higher than current average grades.
All amounts are in Canadian Dollars unless otherwise indicated

21. 21
W EGOUDREAULOCHALSH ISLAND EXT1 EXT2
- 1 000 m
- 500 m
Crown pillar
- 1 500 m
16000mE
620 m Level Planned
Exploration drift
Surface
200 m
Cut off
(4.0-4.35g/t Au / 2.0m)
217
60
30
15
7.5
0
Au Metal Factor
Grade (Au g/t, cut) x true width (m)
190 m Level
340 m Level
MH1-10
24.54/3.76
MH2A-10
6.16/11.58
740-465-20
24.56/3.85
GD-640-04
7.38/3.27
GD-620-01
19.74/1.4
GD-630-01
25.37/3.85
740-477-40
38.62/2.24
MH5-1A
9.27/5.93
NEW DISCOVERY
GD-640-05
20.57/11.3 c.l.
Drillhole Intersection
Au (cut 225 g/t)
Drillhole Intersection
Au (cut 70 g/t)
14500mE
860 m Level Planned
Exploration Drift
Dyke
740 m Level
Explo. & Delineation Drift
ISLAND GOLD MINE
C ZONE – GOLD METAL FACTOR (grade x true width)
March 31, 2017

22. 22
RIC: TSX NYSE
22
New capping 225 g/t Au
Assays Island C Lower
ISLAND GOLD MINE
NEW CAPPING/ISLAND C LOWER ZONE July 6, 2016

23. 23
RIC: TSX NYSE
23
New capping 225 g/t Au
Assays Island C LowerLog Normal Probability Plot
ISLAND GOLD MINE
NEW CAPPING/ISLAND C LOWER ZONE
December 31, 2016