Richmond Minerals Inc. - Private placements

TSX Venture: RMD

TORONTO, Nov. 2 /CNW/ - Richmond Minerals Inc. (the "Company") is pleased to announce a non-brokered private placement of flow-through shares for $250,000 at $0.05 per unit. Each unit will be comprised of one share and one share purchase warrant. Each warrant will be exercisable at $0.15 for one year from date of issuance. The proceeds raised will be primarily used for exploration on the Company's Halle property in the Province of Quebec.

The Company is also pleased to announce an additional non-brokered private placement for $200,000 at $0.04 per unit. Each unit will be comprised of one share and one share purchase warrant. Each warrant will be exercisable at $0.10 for two years from date of issuance. The proceeds raised will be used for working capital.

These private placements are subject to final approval from the TSX Venture Exchange.

We seek safe harbor.

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 press release and neither accepts responsibility for the adequacy or accuracy of this news release.

%SEDAR: 00009282E

SOURCE Richmond Minerals Inc.

For further information: For further information: Birks Bovaird, President or Warren Hawkins, Exploration Manager, Telephone: (416) 603-2114, Fascimile: (416) 423-9325


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