Richmond Minerals Inc. - Settlement of debt for shares

TSX Venture: RMD

Shares Issued and Outstanding: 77,059,239

TORONTO, March 19 /CNW/ - Richmond Minerals Inc. ("Richmond" or the "Company") is pleased to announce that the settlement of debt in the aggregate amount of $37,720 (the "Settlement") in exchange for the issuance of common shares of the Company (the "Common Shares") at a price of $0.05 per Common Share, for an aggregate of 754,400 Common Shares has been approved by the TSX Venture Exchange and the transaction has been completed. All the debts have been discharged.

All securities issued in conjunction with the Settlement are subject to a four month hold period which expires on July 3, 2010.

Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the Canadian National Stock Exchange has reviewed this news release and neither accepts responsibility for the adequacy or accuracy of this news release.

This news release contains certain forward looking statements which are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected. Richmond does not undertake any obligation to update forward looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward looking statements.

%SEDAR: 00009282E

SOURCE Richmond Minerals Inc.

For further information: For further information: Birks Bovaird, President or France Crawford, Corporate Secretary, Telephone: (416) 603-2114 or (416) 862-0887, Facsimile: (416) 603-8436, info@richmondminerals.com


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