OVERVIEW

Company Overview

In May 2006, Richmond entered into an Option Agreement with Fort Chimo Minerals Inc. (“Fort Chimo”) (the “Agreement”) covering in excess of 212,449 acres of mineral rights in the central and southwest area of Quebec. Richmond agreed to spend $2,000,000 in exploration expenditures over two years from the date of signing of the Agreement and issue one million common shares to Fort Chimo to earn a 50% interest in the properties. Richmond acted as operator during the earn-in period. In accordance with the terms of the Agreement, Richmond issued 1,000,000 common shares to Fort Chimo. The exploration targets are iron oxide copper gold deposits (“IOCG”), base metal deposits and uranium. Little exploration has been possible under the ground cover in this region of Quebec to date. However, recent advances in the understanding of IOCGs and in exploration techniques have enhanced the prospective nature of this region. In accordance with the terms of the Option Agreement Richmond incurred more than the required $2 million in exploration expenditures on the properties and accordingly, Fort Chimo has acknowledged that Richmond has earned its 50% interest. The two companies are now in the preliminary stage of negotiating a Joint Venture Agreement and Richmond has submitted an exploration budget for the Halle Township property for approval by Fort Chimo.

General exploration work during the last two years has identified three properties of merit: the Bondy Gneiss Complex, Hallé Township, and Ste-Anne du Lac, in the Province of Québec.

Projects (click for more information)
Bondy Gneiss Complex (“Bondy”)
Hallé Township
Ste-Anne du Lac
Highway 101
Lac Colombet
Triple Lake