Richmont Mines' founder Rivard dies

2009-03-30 12:25 ET - News Release

Also News Release (C-LOV) Louvem Mines Inc

An anonymous director reports

Jean-Guy Rivard, founder and chairman of Richmont Mines Inc.'s board of directors, died suddenly in his vacation home on Saturday, March 28, 2009, in the morning. He was 75 years old.

Mr. Rivard founded Richmont in 1981 with the dream of building a profitable gold producing company. Under his leadership, Richmont built a highly commendable record with the development of six producing underground gold mines in Canada which produced in total more than one million ounces of gold during his tenure, formed a devoted team of more than 300 employees and maintained a solid balance sheet that enables continued growth.

Mr. Rivard was known for his leadership, his business skills and his charisma. Most importantly, he was a great husband, father, grandfather and friend. He will be greatly missed by all who had a chance to know him and work with him.

Mr. Rivard was also president and chief executive officer and chairman of Louvem Mines Inc., a 70-per-cent-owned subsidiary of Richmont. The board of directors of Richmont and Louvem will announce an interim chairman in the very near future.

Funeral arrangements are pending and will be announced by the family.