Richmont earning were strongCommenting on the first quarter, Mr. Martin Rivard, President and CEO ofRichmont Mines noted: "We are very pleased with our first quarterresults. Recovered grades were notably higher at both of our operatingmines year-over-year, with grades up 22% at the Island Gold Mine and up37% at our Beaufor Mine. Island Gold Mine had a particularly strongfirst quarter, with tonnage levels and gold recovery rates alsoimproving by a respective 7% and 2% year-over-year. Combined, thesefactors translated into a first quarter cost per tonne at Island Gold of$128, a notable 13% decrease from the 2010 annual rate of $147 pertonne for this mine. Recovered grades improved significantly at Beaufor,18,826 tonnes of ore were processed this quarter and the remainingstockpile of 7,932 tonnes available at the end of Q1 was processed inQ2. This, in conjunction with the fact that more development isnecessary to access ore zones at this mine, resulted in higher cashcosts. As we have stated in the past, extensive development will beneeded to access mining zones at Beaufor on a go-forward basis and, as aresult, cash costs will remain at current levels. However, we continueto assess our mining plans in order to reach mineable reserves moreefficiently, and are also actively evaluating the potential of promisingnear-surface zones on the property.
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