Richmont Mines Inc. (Richmont Mines) is a gold company. The Company is engaged in the production of gold from its Beaufor Mine and Island Gold Mine, two of its three material properties. The Beaufor Mine property, along with other adjacent properties, such as Pascalis, Perron, Colombiere, Courvan and Perron Blocks 2, 3 and 4, are located approximately 27 kilometres to the northeast of the town of Val-d�Or, in the Abitibi-East County, in the Province of Quebec, Canada. The Island Gold Mine is located approximately 85 kilometers northeast of Wawa, Ontario, Canada, in the Sault Ste. Marie Mining Division. On January 25, 2011, Richmont Mines sold its 70% Interest in the Valentine Lake Property. On June 30, 2010, Richmont Mines and Louvem Mines Inc. (Louvem) acquired the issued and outstanding shares of Louvem not owned by the Company, by way of amalgamation (the Amalgamation) of 9222-0383 Quebec Inc. (Subco), a wholly owned subsidiary of Richmont Mines, and Louvem.