Oxbridge Bank and Trust SCC Completes Acquisition of Common Shares of
Richmont Mines Inc.

BARBADOS, Nov. 30 /CNW Telbec/ - Oxbridge Bank and Trust SCC ("Oxbridge"), located at Chelston Park, Collymore Rock, St. Michael, Barbados, announces that it has completed the previously announced acquisition of 2,230,000 common shares of Richmont Mines Inc. ("Richmont") from a private investor, at a price of USD $3.50 per common share. Oxbridge, together with joint actors, now owns and controls 5,013,254 common shares and 75,000 options to purchase common shares of Richmont representing in the aggregate approximately 19.49% of the issued and outstanding shares (excluding shares underlying outstanding options) of Richmont.

An amended early warning report in respect of the above noted transaction will be filed on SEDAR.

SOURCE OXBRIDGE BANK AND TRUST SCC

For further information: For further information: Darren C. Stark, (246) 426-3780

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OXBRIDGE BANK AND TRUST SCC

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