17 06 19 macquarie marketing - montreal

POSITIONINGFOR

SUSTAINABLEGROWTH

Corporate PresentationMontréal Marketing

June 19, 2017

TSX - NYSE : RIC

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RICHMONT MINESFORWARD-LOOKING STATEMENTS

Safe Harbor Statement & Cautionary Note to U.S. Investors Concerning Resources EstimatesThis 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 otherindications of future tense, are intended to identify forward-looking statements. The forward-looking statements are based on current expectationsand apply only as of the date on which they were made. Except as required by law or regulation, Richmont Mines Inc. (“Richmont” or the“Corporation”) undertakes no obligation and disclaims any responsibility to publicly update or revise any forward-looking statements ofinformation, whether as a result of new information, future events or otherwise. The factors that could cause actual results to differ materiallyfrom those indicated in such forward-looking statements include the ability to ramp up productivity to 1,100 tonnes per day in a timely manner, theability to achieve the enhanced production levels expected, the ability to realize further expansion scenarios, any increases in capital anddevelopment or infrastructure costs, changes in the prevailing price of gold, the Canadian-U.S. exchange rate, grade of ore mined andunforeseen difficulties in mining operations that could affect revenue and production costs. Other factors such as uncertainties regardinggovernment regulations could also affect the results. Other risks may be detailed from time to time in Richmont’s Annual InformationForm and other public disclosure.

The resource estimates in this presentation were prepared in accordance with National Instrument 43-101 Standards of Disclosure of MineralProjects (“NI 43-101”) adopted by the Canadian Securities Administrators. The requirements of NI 43-101 differ significantly from therequirements 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 notrecognize 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 themineralization could be economically and legally extracted at the time the determination is made. United States investors should not assumethat all or any portion of a Measured or Indicated Resource will ever be converted into “Reserves”. Furthermore. “Inferred Resources” havea great amount of uncertainty as to their existence and whether they can be mined economically or legally, and United States investors shouldnot assume that “Inferred Resources” exist or can be legally or economically mined, or that they will ever be upgraded to a more certain category.

An NI 43-101 Technical Report for the Island Gold Mine Expansion Case Preliminary Economic Assessment (“PEA”) will be filed within 45 daysfollowing the press release dated May 29, 2017.

For additional information regarding the Mineral Reserves and Resources referred to in this presentation, please refer to the press release datedJan. 31, 2017 reporting Richmont’s 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 orfrom the SEC’s web site: http://sec.gov/edgar.shtml.

(All amounts are in Canadian dollars. unless otherwise indicated.)

http://sec.gov/edgar.shtml

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Long-term value

Quality asset base in CanadaGrowingproduction profileSignificant exploration potential

Capital discipline & shareholder returns

Lowshares outstandingDecreasingcost structureMaximizing per share valuation

Cash focus

Strong Balance sheetFavourableCAD$ exposureGrowingcash flow streams

ESTABLISHED CANADIAN GOLD PRODUCERPOSITIONING FOR SUSTAINABLE GROWTH

ontario

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Strong cash position supports fully funded strategic organic growth plan

Analyst CoverageBMO Capital Markets Brian Quast

Canaccord Genuity Rahul Paul

CIBC Jeff Killeen

Cormark Securities Richard Gray

Haywood Securities Kerry Smith

Laurentian Bank Securities Ryan Hanley

Macquarie Capital Markets Michael Gray

National Bank Financial Raj Ray

Paradigm Capital Don Blyth

PI Financial Brian Szeto

Scotia Capital Ovais Habib

TD Securities Daniel Earle

CAPITAL STRUCTURE AND COVERAGEPOSITIONING FOR SUSTAINABLE GROWTH

TSX-NYSE: RIC Share Capital (at June 7, 2017)

Issued & Outstanding Shares 63.7M

Fully Diluted 66.5M

Market Capital $623M

CASH(1)

C$75.2M(US$56.5M)(3)

DEBT(1,2)

C$10.4M(US$7.8M)(3)

(1) As of Mar. 31, 2017.(2) Comprised mainly of mobile equipment capital leases.(3) Calculated using a C$:US$ exchange rate of 1.33

All amounts are in Canadian dollarsunless otherwise indicated.

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RICHMONT MINES2016 SCORECARD

Focused on achieving high quality,low cost growth.

ANNUAL HIGHLIGHTSBest in class safety performance

Record gold production

Record revenues

Increased reserves and resources

Strong cash position

104,050record ounces produced

$0.20 earnings per share

$169 M record annual revenues $75 M

cash at year end

Achieved all 2016 positively revised company-wide targets

(US$960)AISC(1) per ounce

(US$685)cash costs(1) per ounce

$908 $1,272

(1) Cash costs and all-in sustaining costs (“AISC”) are non-IFRS measures. Refer to the Non-IFRS performance measures containedin the 2016 MD&A.

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ISLAND GOLD MINE2016 SCORECARD

POSITIONED FOR GROWTHExceeded production and cost guidanceIncreased reserves at higher gradesIncreased inferred resources at higher grades and low discovery costsExpansion Case PEA to 1,100 tpd Fully funded and fully permitted

(US$745)AISC(1) per ounce

83,323record ounces produced

$14.8 Minvestment in exploration

Fully funded organic growth plan

In 2016, the Island Gold Mine exceeded expectations on every performance metric.

2013 2014 2015 2016 2017E PEAAvg

Production (k oz) Cash Costs (US$/oz)

Increasing productionand declining costs $988

(US$587)cash costs(1) per ounce

$779

(1) Refer to the Non-IFRS performance measures contained in the 2016 MD&A.(2) 2017 Guidance assumes high end of production and low end cash cost range, with an exchange rate of 1.30 Canadian to U.S. dollars.

Refer to press release dated February 2, 2017.

(3) PEA average cash costs based on Spot Gold price of US$1,260/oz.

(1,2,3)

7

0

100

200

300

400

500

600

700

800

2012 2013 2014 2015 2016

Min

eral

Res

erve

s (0

00’s

oun

ces)

Monique Beaufor Island Gold

Gold oz.752,200

Island Gold Mine reserve growth of +300% since 2014

Gold oz.44,920

ISLAND GOLD MINERESERVE & RESOURCE(1) 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.

(1) Refer to the detailed mineral reserve and mineral resource tables in the appendix section of this presentation.

2016 Reserves

752,200 oz (net of depletion) with 11%increase in grade to 9.17 g/t

2016 Resources

Inferred: 30% increase to 995,700 oz(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

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2017 GUIDANCE Island Gold Mine Beaufor Mine Company-wide

Gold Production (ounces) 87,000 - 93,000 23,000 - 27,000 110,000 - 120,000

Cost Estimates

C$/ozCash Costs (1) $715 - $765 $1,265 - $1,320 $835 - $885Corporate G&A - - $105 - $110All-in Sustaining Costs (1) $945 - $995 $1,540 - $1,590 $1,180 - $1,235

US$/ozCash Costs (1)(2) $550 - $590 $975 - $1,015 $640 - $680Corporate G&A (2) - - $80 - $85All-in Sustaining Costs (1)(2) $725 - $765 $1,185 - $1,225 $905 - $950Capital Investment Estimates

C$(M)Sustaining Capital $19 - $22 $6 - $7 $25 - $29Expansion Capital (3) $33 - $35 - $33 - $35Exploration & Project Evaluation $14 - $16 $2 - $3 $16 - $19

US$(M)Sustaining Capital(2) $15 - $17 $5 - $6 $19 - $22Expansion Capital(2)(3) $25 - $27 - $25 - $27Exploration & Project Evaluation (2) $11 - $12 $1 - $2 $12 - $14

(1) Refer to the Non-IFRS Performance Measures in the 2016 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 aminimum sustaining gold price of C$1,550 per ounce. Expansion capital is exclusive of capital requirements related to a mill expansion in 2018 ascontemplated in the PEA.

RICHMONT TARGETS2017 PRODUCTION AND COST GUIDANCE

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146% PRODUCTION INCREASE SINCE 2013 Production and CostsQ1 2017Results

2017Guidance

Gold production (oz) 23,772 87,000-93,000

Cash costs/oz (C$)(1) $668 $715-$765

AISC per oz. (C$)(1) $848 $945-$995

Cash costs/oz (US$)(1,2) $504 $550-$590

AISC per oz. (US$)(1,2) $640 $725-$765

Capital and Exploration ($M)Q1 2017Results

2017Guidance

Sustaining Capital (C$) $4.1 $19-$22

Project/Expansion Capital (C$) $5.9 $33-$35

Exploration (C$) $3.8 $14-$16

Sustaining Capital (US$)(2) $3.1 $15-$17

Project/Expansion Capital (US$)(2) $4.5 $25-$27

Exploration (US$)(2) $2.8 $11-$12

Increasing Production2017E: up to 12% higher YoYQ1’17: record mine & mill

rates achieved

Declining Cash Costs2017E: up to 8% lower YoYQ1’17: 19% lower QoQ

ISLAND GOLD MINECANADIAN HIGH GRADE UNDERGROUND MINE

Growth opportunities1,100 tpd Expansion Case PEA released

Increasing reservesat higher grades

Exploration potentiallaterally and at depth

Mineral Reserves and Resources(3)

(December 31, 2016)Grade

(g/t)Gold

ounces

Proven & Probable Reserves 9.17 752,200

Measured & Indicated Resources 5.94 91,450

Inferred Resources 10.18 995,700

(1) Refer to the Non-IFRS performance measures contained in the MD&A for the corresponding reporting period.(2) 2017 guidance assumes an exchange rate of 1.30 Canadian to US dollars.(3) Refer to full 2016 Reserve and Resource information at the end of this presentation.

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ISLAND GOLD MINEEXPANSION CASE PEA – A DISCIPLINED APPROACH

First step in a disciplined multi-phased strategy

Use of current infrastructure; minimal incremental expansion capital

Only approximately 24% of Inferred Resources were incorporated

+750k ounces Inferred Resources available for further growth

Maximizing productivity while maintaining a minimum mine life of 8 years

Low cost, quality operation that generates strong cash flow streams

Additional cost reduction and productivity enhancement initiatives not captured

Recent delineation/exploration success not captured

The objective of the PEA was to consider the most cost and capital effective strategyto mine the portion of the mineral resources that is located within the main area ofinterest over four mining horizons, to a maximum depth of 1,000 metres belowsurface, using the current mine infrastructure.

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ISLAND GOLD MINEPEA HIGHLIGHTS

Expansion Case PEA Summary (1,100 tpd)(C$:US$ exchange rate of 1.35:1) C$ Gold Price US$ Gold Price

Spot Gold Downside Case Spot Gold Downside Case

$1,700/oz $1,550/oz US$1,260/oz US$1,150/oz

Avg annual production (koz): 2019-2024(1) 125 125 125 125

Avg annual production (koz): 2017-2024 115 115 115 115

Avg operating unit cost ($/t)(2,5) 191 189 141 140

Cash Costs ($/oz)(2,3,5) 652 646 483 479

AISC ($/oz)(2,3,5) 837 832 620 616

Sustaining capital ($M) 168 168 124 124

Project capital ($M)(4) 68 68 50 50

AIC ($/oz)(2,3,4,5) 910 906 674 671

Cumulative Net Cash Flow ($M)(6,7) 749 615 555 456

Pre-tax NPV5%(7) 580 473 430 350

After-tax NPV5%(7) 452 379 335 281(1) Excluding the 2017 and 2018 ramp-up period.(2) The Expansion Case PEA assumes a gold price of $1,700 (US$1,260) and $1,550 (US$1,150) per ounce and a C$:US$ exchange rate of 1.35.(3) Refer to the Non-IFRS performance measures section contained in the Q1 2017 MD&A.(4) Project capital includes incremental expansion capital of $28.2 million and accelerated mine development/infrastructure capital of $40 million. (5) Including royalties.(6) Net cash flow is pre-tax cash flow after all operating costs, project and sustaining capital.(7) All calculations assume the Dec. 31, 2016 cut-off grade and do not incorporate any adjustments related to different gold price assumptions.

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Third Mining Horizon P&P 984,000 11.71 370,460Inferred 63,000 8.25 16,710

GOUDREAULOCHALSH ISLAND EXT1 EXT2

- 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

Second Mining HorizonP&P 490,000 8.82 138,950

Fourth Mining Horizon P&P 309,000 8.74 86,830Inferred 472,000 15.22 230,970

- 1.000 m

LegendProven 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. Extension1 - Lower C Zone. and Extension 2 - Lower E1E Zone

200 m

860 m LevelPlannedExploration 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

2

3

4

Upper Mine Reserves Ounces Considered in the

PEA

Tonnes Grade (g/t) Ounces

P&P 341,000 6.89 75,500

740 m LevelExplo. & Delineation Drift

Total diluted and recovered mineralized material considered in the PEA mining plan: 3.1MT @ 9.68 g/t = 964 koz gold

Approx. 24% of the inferred resources were used in the PEA All resources outside the main area were excluded in the PEA

620m LevelPlannedExploration Drift

EXPANSION CASE PEAMINERAL RESOURCES & RESERVES USED IN 2017 PEA STUDY

Note: Mineral Resources presented are exclusive of Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

13

0.00

0.20

0.40

0.60

0.80

1.00

1.20

1.40

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Was

te to

Ore

Rat

io

Tota

l Ton

nes

Min

ed

Total Tonnes Mined & Waste to Ore Ratio

Total stoping ore (tonnes) Total development ore (tonnes)

Total waste development (t) Ratio: Waste/Ore

MINE PLAN 1,100 TPDTOTAL TONNES MINED

2015 2016

Historical Expansion Case PEA

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FINANCIAL ANALYSISCURRENCY AND GOLD PRICE SENSITIVITIES

Pre-tax Net Cash Flow(1,2) ($M) SensitivityUS$ Gold Price

C$:U

S$

1,000 1,100 1,200 1,300 1,400

1.00 123 212 302 391 481

1.10 212 311 409 507 606

1.20 302 409 516 623 731

1.30 391 507 623 740 856

1.35 436 556 677 798 918

1.40 481 606 731 856 981

1.45 525 655 784 914 1 043

1.50 570 704 838 972 1 106

1.60 659 802 945 1 088 1 231

PEA mine plan generates positive pre-tax net cash flow even at a gold price of US$1,000 per ounce and a C$ to US$ exchange rate at parity

(1) Net cash flow is pre-tax cash flow after all operating costs, project and sustaining capital.(2) All calculations assume the Dec.31, 2016 cut-off grade and do not incorporate any adjustments related to different gold price assumptions.

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NEXT STEPSADDITIONAL GROWTH OPPORTUNITIES

Immediate Operational enhancements

► Ongoing implementation of enhanced operational efficiencies► Cost reduction initiatives► Supply chain optimization

Short-Term Exploration andDelineation Program

► Increase resource inventory to the east and at depth to a minimum of 2M oz of total resources, including 1M oz of reserves

Mid-Term Phase 2 Expansion< 5 years

► Additional mine infrastructure (ex. shaft) could allow increased mining rates as new mining zones outside the PEA area (both laterally and at depth) are incorporated in the PEA

► +2M oz of resources – further production growth profile over 10+ year mine life

Mid to Long-Term

Unlocking the Full Potential of the Island Gold Deposit

► Increased resource inventory of the vertical extension at depth (+2 km)

► Increased resource inventory along strike; +7 km east and west

► Transforming Island Gold into a multi-million ounce deposit

Long-Term Potential Full Land Package

► Resource growth potential regionally outside the current deposit area

► <15% of the main structure has been drilled to a depth of 1,000 m

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620 m Level PlannedExplo. & Delineation Drift


GOUDREAULOCHALSH ISLAND EXT1 EXT2

- 500 m

- 1.500 m

W E

340 m Level

190 m Level

740 m LevelExplo. & Delineation Drift

- 1.000 m

200 m

2017-2018 DEEP EXPLORATION DRILLING

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)

GD-630-0125.37/3.85

GD-620-0119.74/1.4

NEW DISCOVERYGD-640-05

20.57/11.3 c.l.

**** Drillhole IntersectionAu (cut 70 g/t) / true thickness (metres)c.l. Core length (metres)

Target

Target

Target

Extension of existing resource blocks + new potential areas

NEXT STEPSSHORT-TERM OBJECTIVE: +2 M OZ (net of depletion) TOTAL RESOURCES

2017-2018 SURFACE/ UNDERGROUNDEXPLORATION DRILLING

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340 m Level

- 500 m

340-588-093.62/2.10

340-588-1110.10/3.0

340-588-1210.24/3.0

340-588-1333.60/2.0

340-588-1410.60/2.0

340-588-1511.44/4.36

GD-640-047.38/3.27

340-588-185.69/2.3

340-588-174.98/3.0


620 m Level PlannedExplo. & DelineationDrift


- 1000 m

GD-640-0520.57/11.3 c.l.

340-576-028.50/2.0

340-576-015.17/2.0

340-586-091.73/2.0

340-586-088.38/2.0

340-579-012.69/2.57

340-586-067.63/2.68

340-586-073.16/2.0

340-588-0814.96/2.0

GD-640-05-110.16/5.74 c.l.

GD-620-0119.74/1.4

GD-630-0125.37/3.85

GD-640-05-1

Cross section looking W

GD-640-05-116.10/8.33 c.l.

GD-640-05

GD-640-023.66/5.34

GD-640-010.08/4.24

Cross section looking W

EASTERN LATERALDRILLING

ISLAND GOLD MINEEastern Lateral Exploration andInfill Drilling

Proven Reserves (2016/12/31)

Probable Reserves (2016/12/31)

Indicated Resources (2016/12/31)

Inferred Resources (2016/12/31)

Ramp and Actual Development

Mined Out

Planned Development

Intersection not included in Dec. 2016 Reserves & Resources update

340-588-160.93/2.0

100 m

> 30

8.0 to 30.0

4.0 to 8.0

< 4.0

Drillhole IntersectionAu (cut 70 g/t) / true thickness (metres)c.l. Core length (metres)

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15,5

00 m

E

15,0

00 m

E

Dyke

MH5-1A9.27/5.93

MH4-44.10/3.09

MH5-25.08/4.40

MH4-54.63/2.51

MH2A-74.72/4.80

- 1,500 m

- 1,000 m

100 m



MH2A-9B2.66/5.89

MH84.60/2.24

MH5-30.95/3.81

MH60.91/9.44

Drillhole IntersectionAu (cut 225 g/t)

Drillhole IntersectionAu (cut 70 g/t)

Potential Extension

MH1-1024.54/3.76

MH2A-810.37/9.17

MH2A-106.16/11.58

DEEP DIRECTIONAL DRILLING

ISLAND GOLD MINEDeep Directional Exploration andInfill Drilling






Mined Out

Planned Development

> 30

8.0 to 30.0

4.0 to 8.0

< 4.0

Drillhole IntersectionAu cut g/t / true thickness (metres)


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14,5

00 m

E

15,0

00 m

E

Dyke

- 1,000 m

100 m


860 m Level PlannedExplo. & Delineation

Drift

740-477-4038.62/2.24

740-465-1523.29/3.51

740-465-0338.66/3.68

740-465-0485.33/3.52

740-465-0843.05/5.13

740-477-3060.15/3.29

740-477-4324.21/4.33

820-520-1330.20/3.62

820-520-0853.64/6.53

820-512-0460.16/8.79

820-520-0152.67/3.28

800-511-0123.36/4.72

740-477-3332.47/6.57

740-465-2024.56/3.85

740-483-2134.13/3.53

740-483-2226.37/3.46

740-465-1696.97/5.08

740-465-2350.84/2.03

635 m Level

740 m Level

DRILLING IN PEA

ISLAND GOLD MINEHighlights Expansion Case PEADelineation & Exploration Drilling






Mined Out

Planned Development

> 30

8.0 to 30.0

4.0 to 8.0

< 4.0

Drillhole IntersectionAu (cut 225 g/t) / true thickness (metres)


20

Mill

Maskinongelake

CLINE MINE63,000 oz Au0.3 MT @ 6.5 g/t Au

KREMZAR MINE47,000 oz Au0.6 MT @ 4.8 g/t Au

ISLAND GOLD MINE

East Extension

West Extension Drilling target500 m

- 1,000 m

- 500 m

- 1,500 m

MAGINO ISLAND GOLD EDWARDS CLINE

Rich

mon

tRich

mon

t

Argo

naut

Strik

e M

iner

als

New gold zone intersections (Au Cut 70 g/t at Lateral East Zone or 225 g/t for Lower C Zone)Au g/t / true thickness (metres)

Clin

e M

inin

g Co

rp.

KZ-16-0156.93/1.10 c.l.

KZ-16-029.71/8.00 c.l.

MH1-1024.54/3.76

MH2A-106.16/11.58

MH5-1A9.27/5.93

340-588-1333.60/2.0

340-576-028.50/2.0

MAGINO Open Pit Project

GD-640-047.38/3.27

GD-640-0520.57/11.3 c.l.

GD-640-05-116.10/8.33 c.l.

Producing Gold Mine

Closed Gold Mine

Gold Showing

Major Fault

Mafic VolcanicIntermediate VolcanicDiabaseIron FormationWebb LakeStock-Granodiorite

EDWARDS MINE144,000 oz Au0.5 MT @ 11.0 g/t Au

Kremzar Cross Section

Drilling target

Kremzar Cross Section

GEOLOGY AND EXPLORATIONREGIONAL EXPLORATION: FINDING THE NEXT MINE

1,768 m: Macassa Mine (Kirkland Lake)

2,200 m: Hoyle Pond Mine (Goldcorp)

1,524 m: Golden Giant Mine (Barrick)

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1) Includes 1,165 ounces produced from the Monique Mine in January 2016.

2) Refer to the Non-IFRS performance measures contained in the MD&A for the corresponding reporting period.

3) Includes cash costs from the Beaufor and Monique mines.

4) An exchange rate of 1.30 Canadian dollars to 1.0 US dollar was used for 2017 guidance. Q1 2017 figures are calculated using an exchange rate of 1.3238.

5) Refer to full 2016 Reserve and Resource information at the end of this presentation.

BEAUFOR MINE & CAMFLO MILLCANADIAN ASSETS IN QUEBEC

H2 2017 Increases in:• Underground tpd• Gold production• Grade

2017 PlanContinue to increase mining in higher-grade Q zone

Camflo Mill1,200 tpd capacity provides toll milling opportunities

Q1 2017Results

2017Guidance

Gold production (oz) 5,629 23,000 - 27,000

Cash costs/oz (C$)(2) $1,265 $1,265 - $1,320

AISC per oz. (C$)(2) $1,580 $1,540 - $1,590Cash costs/oz (US$)(2,4) $956 $975 - $1,015AISC per oz. (US$)(2,4) $1,194 $1,185 - $1,225

Capital and ExplorationQ1 2017 Results

2017Guidance

Sustaining Capital (C$M) $1.8 $6-7Sustaining Capital (US$M) $1.4 $5-6

2016 Reserves and Resources(5) Grade g/t Gold OuncesProven & Probable Reserves 6.86 44,920Measured & Indicated Resources 7.37 83,700Inferred Resources 6.44 7,500

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Long-term value

Quality asset base in CanadaGrowingproduction profileSignificant exploration potential

Capital discipline & shareholder returns

Lowshares outstandingDecreasingcost structureMaximizing per share valuation

Cash focus

Strong Balance sheetFavourableCAD$ exposureGrowingcash flow streams

ESTABLISHED CANADIAN GOLD PRODUCERPOSITIONING FOR SUSTAINABLE GROWTH

ontario

www.richmont-mines.com

APPENDIX

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MÉLISSA TARDIFLLB

Lawyer and Corporate Secretary

RICHMONT MINESMANAGEMENT TEAM

RENAUD ADAMSP. ENGPresident andChief Executive Officer

STEVE BURLETONCFA, MBA

Vice-President,Business Development

ROB CHAUSSECPA, CA

Chief Financial Officer

CHRISTIAN BOURCIERP. ENGVice-President,Operations

NICOLE VEILLEUXCPA, CAVice-PresidentFinance

ANNE DAYMBA, ICD.DSenior Vice-President,Investor Relations

DANIEL ADAMGEO PHDVice-PresidentExploration

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RENÉ MARIONP. ENG

Chairman of the Board and Chair of the Technical and Corporate Responsibility Committee

MICHAEL PESNERCA

Director and Chairof the Audit Committee

RENAUD ADAMSP. ENG

Director, President andChief Executive Officer

PETER BARNESCA

Director and Chair of the Human Resources and Compensation Committee

ELAINE ELLINGHAMP. Geo., MBA

Director and Chair of the Governance and Nominating Committee

RICHMONT MINESBOARD OF DIRECTORS

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1. Mineral Resources presented are exclusive of Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.2. Refer to NI 43-101 Technical Report for the Island Gold Mine dated March 20, 2017.3. In 2016, based on a gold price of CAN$1,500/oz; in 2015, based on a gold price of US$1,080/oz and an exchange rate of CAN$1.2037 = US$1.00.4. Monique Mineral Resources are located underground directly below the open-pit.5. Underground Mineral Resources established as of December 31, 2012.6. The Francoeur Mine closed in November 2012 and was sold in 2016.

Richmont Mines Mineral Reserve andResource1 Estimates

December 31, 2016 December 31, 2015Tonnes Grade Gold

OuncesTonnes Grade Gold

Ounces(metric) (g/t Au) (metric) (g/t Au)ISLAND GOLD MINE2

Proven Reserves3 573,000 8.68 159,800 363,500 7.53 87,900Probable Reserves3 1,978,000 9.31 592,400 1,752,000 8.41 473,800Total Proven & Probable Reserves3 2,551,000 9.17 752,200 2,115,500 8.26 561,700Measured Resources 33,500 4.94 5,350 7,500 5.80 1,350Indicated Resources 445,500 6.01 86,100 341,000 6.42 70,350Total Measured & Indicated Resources 479,000 5.94 91,450 348,500 6.40 71,700Total Inferred Resources 3,042,000 10.18 995,700 2,815,000 8.49 768,050BEAUFOR MINEProven Reserves3 32,000 6.77 7,010 35,600 7.31 8,350Probable Reserves3 171,500 6.87 37,910 266,500 6.48 55,500Total Proven and Probable Reserves3 203,500 6.86 44,920 302,100 6.57 63,850Measured Resources 53,000 6.27 10,700 109,000 5.32 18,600Indicated Resources 300,000 7.57 73,000 734,000 6.50 153,300Total Measured & Indicated Resources 353,000 7.37 83,700 843,000 6.34 171,900Total Inferred Resources 36,000 6.44 7,500 135,000 6.44 28,000MONIQUE MINE4

Indicated Resources 107,500 4.88 16,850 107,500 4.88 16,850WASAMAC GOLD PROPERTY5

Measured Resources 3,124,500 2.75 276,550 3,124,500 2.75 276,550Indicated Resources 12,127,000 2.89 1,125,700 12,127,000 2.89 1,125,700Total Measured & Indicated Resources 15,251,500 2.86 1,402,250 15,251,500 2.86 1,402,250Total Inferred Resources 18,759,000 2.66 1,605,400 18,759,000 2.66 1,605,400FRANCOEUR GOLD PROPERTY6

Measured Resources - - - 40,000 5.89 7,600Indicated Resources - - - 280,000 6.55 59,000Total Measured & Indicated Resources - - - 320,000 6.47 66,600Total Inferred Resources - - - 18,000 7.17 4,150TOTAL RESERVES AND RESOURCESProven & Probable Reserves 2,754,500 9.00 797,120 2,417,600 8.05 625,550Measured & Indicated Resources 16,191,000 3.06 1,594,250 16,870,500 3.19 1,729,300Inferred Resources 21,837,000 3.72 2,608,600 21,727,000 3.44 2,405,600

RICHMONT MINESMINERAL RESERVES AND RESOURCES

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Firm Name % O/S Shares Held CityVan Eck Associates Corporation 11.04 7,034,751 New YorkRenaissance Technologies LLC 5.59 3,563,900 New YorkRBC Global Asset Management Inc. 5.27 3,356,966 TorontoMontrusco Bolton Investments Inc. 4.07 2,590,527 MontrealConnor, Clark & Lunn Investment Management Ltd. 4.00 2,550,000 Vancouver1832 Asset Management L.P. 3.87 2,466,900 TorontoSentry Investments Inc. 3.48 2,215,950 TorontoBMO Asset Management Inc. 3.42 2,176,800 TorontoOppenheimerFunds, Inc. 3.18 2,027,000 New YorkCIBC Asset Management Inc. 2.04 1,302,030 MontrealSprott Asset Management LP 1.96 1,249,647 TorontoMackenzie Financial Corporation 1.92 1,222,900 TorontoTocqueville Asset Management LP 1.85 1,177,500 New YorkEterna Investment Management Inc. 1.73 1,100,000 Quebec CityManulife Asset Management Limited 1.57 1,000,000 TorontoFidelity Management & Research Company 1.38 876,343 BostonBlackRock Asset Management Canada Limited 1.37 875,000 TorontoDimensional Fund Advisors, L.P. 1.29 825,000 AustinZPR Investment Management Inc. 1.28 815,520 Orange CityGabelli Funds, LLC 1.23 785,000 RyeBlackRock Institutional Trust Company, N.A. 1.18 750,000 San FranciscoGWL Investment Management Ltd. 1.16 736,337 WinnipegFonds de Solidarité FTQ 1.13 721,700 MontrealO'Shaughnessy Asset Management, LLC 1.02 650,579 StamfordIntact Investment Management Inc. 0.99 629,000 Toronto

As of June 5, 2017. Source: Nasdaq IR Insight

RICHMONT MINESTOP INSTITUTIONAL SHAREHOLDERS

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New capping 225 g/t Au

Assays Island C Lower

ISLAND GOLD MINENEW CAPPING/ISLAND C LOWER ZONE July 6, 2016

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New capping 225 g/t Au

Assays Island C LowerLog Normal Probability Plot

ISLAND GOLD MINENEW CAPPING/ISLAND C LOWER ZONE December 31, 2016

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ISLAND GOLD MINEWESTERN LATERAL EXPLORATION

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(1) Refer to full 2015 Reserve and Resource information at the end of this presentation

Resources TonnesGrade

(g/t Au)Gold

Ounces

Measured Resources 3,124,500 2.75 276,550

Indicated Resources 12,127,000 2.89 1,125,700

Inferred Resources 18,759,000 2.66 1,605,400

Base case parameters: Gold price per ounce of US$1,300 or C$1,350 using a C$:US$ exchange rate of 1.04.

March 2012 PEA SummaryMine life (years) 14Daily mine production (tpd) 6,000

Total Production (Koz) 1,750

Average annual gold production (Koz) 140

Average cash operating cost (C$/t) 46

Average cash operating cost (C$/oz) 716

Total Capital (C$M) 680

NPV5% (C$M) 71

IRR(5%) (%) 7

• IRR of 14% at C$1,650/oz. gold • (current 60-day avg. of ~C$1,660/oz)

• Potential to improve base case economics

• Potential technical and operational enhancements

Abitibi gold mining district

15km west of Rouyn-Noranda, Quebec

100% owned, no royalties

Close proximity to existing infrastructure

Significant exploration potential

NI 43-101 PEA released in March 2012

WASAMACADVANCED DEVELOPMENT PROJECT

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RICHMONT MINES ASSETSVALD’OR AREA – EXPLORATION PROPERTIES

PROPERTY OPTION AGREEMENTS Monique: Probe Metals JV: potential 60% earn-in with $2.0M in exploration over 4 years

Chimo: Chalice Gold JV: potential 70% earn-in with $3.1M in exploration over 4 years, with a total option payment of C$ 200,000; 1% NSR to Richmont on claims with no existing royalty

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RICHMONT MINES ASSETSTIMMINS AREA / EXPLORATION PROPERTIES

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Our vision is to become a leading intermediate gold producer focused on the

Americas generating superior per share valuation. We are committed to a “SustainableBusiness Model” and a strategy of long-term growth, and will fully utilize theCorporation’s strong balance sheet, assets, cash flow, capital structure and theextensive experience of the Corporations’ Board of Directors and Management Team tobuild the next leading Canadian based intermediate gold company.

Our strategy in the short term, will focus on becoming a leading junior gold

producer by maintaining at all times a superior per share position on operational & financial metrics while maintaining a sustainable and risk adverse approach under a“Sustainable Business Model”.

We are guided by our core corporate values to achieve long term value for all of

our stakeholders. By cultivating a culture of responsible performance, we are focusedon operating in a sustainable manner while holding ourselves accountable to all of ourstakeholders.

RICHMONT MINESOUR VISION AND STRATEGY

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RICHMONT MINESOUR VALUES

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We believe in developing Richmont based on the principles of sustainability,in order to deliver sustainable andsuperior value for all stakeholderswith low risk exposureto precious metals.

Human ResourcesMaking work life sustainable through

employee health & safety and wellness programs, improved supervisory & operational

planning/implementation practices and skills through training programs. Develop potential

leadership abilities through leadership program. Promote Life in Balance; family, work and

personal development.

Sustainable

SustainableCommunity DevelopmentLeadership and consulting skills for promoting comprehensive change

toward sustainability in communities and developing world-class relationships

with Aboriginal communities.

SustainableProcess Improvement

Reducing inefficiency and waste through quality & performance management by implementation of “Lean” methods and balanced score card approach. Advanced knowledge and experience with energy efficiency,sustainable waste systems & construction/ building practices.

SustainableGrowth Principles

Developing sustainable exploration, development, operational and financial practices in order to deliver superior per share value, mitigation/management of risk exposure and discipline approach toward preserving best-in-class balance sheet and capital structure.

RICHMONT MINESSUSTAINABLE BUSINESS MODEL

www.richmont-mines.com