The following facts lead me to believe the gold veins that Richmont Mines is following down dip in our direction will lead to some extremely high grades of gold, deep under Argonaut property:

Richmont Mines recently signed a land and mining rights agreement with Argonaut, extending the Island Gold Deep Project about 600 meters to the west. Argonaut will receive exploration and mining rights from surface to 400 meters on certain Richmont claims that border the Magino Gold Project. The result is greater flexibility in the development of the two projects.

Richmont’s January 24, 2014 announcement about their drill results, along with statements made by their President, bring up some interesting points about their Island Gold Deep Project:

1. It is an extension of the areas mined above in the Island Gold Mine, but at 88% higher grades and 67% greater widths.
2. It is comprised of several parallel zones of gold veins often containing visible gold andextending down dip to the west toward the Magino Gold Project.
3. So far it has indicated resources of 169,000 ounces of gold at 11.52 g/t.
4. It also has inferred resources of 955,000 ounces of gold at 9.29 g/t.
5. Richmont is following six sub-parallel gold zones that “remain open both along strike and to depth where the potential for adding additional high-grade gold resources is believed to be high.” (I assume these are the parallel gold veins listed in item 2 above)
6. “Drilling completed in 2013 has enabled the Corporation to expand the C Zone Inferred resource base toward the West and between the two dykes.”
7. “Indicated resource and updated Inferred resource include: 12.50 g/t Au over 6.34 metres, 18.32 g/t Au over 6.70 metres, 11.97 g/t Au over 6.56 metres, and 15.53 g/t Au over 4.43 metres in the C Zone, and 33.89 g/t Au over 8.79 metres in the B Zone.”
8. Mr. Carmel (President and CEO of Richmont Gold) noted: "Over our 20 year operating history, it has always been Richmont's goal to own a long-life, high grade gold mine in a stable jurisdiction where the Corporation has an operating history. With the inclusion of the Island Gold Deep discovery, the Island Gold Mine site is indeed turning into that cornerstone asset, where we have the added benefit of being fully-permitted, with a stable 200 person workforce, a 7-year operating history and an on-site processing facility."