LAC COLOMBET PROPERTY

In 2005, Richmond acquired a 100% interest in the Lac Colombet project in Nunavik. The project comprises two claim blocks located in the central western part of the Labrador Trough. The property generally encompasses the northern half of Lac Colombet, and is accessible by float plane from Schefferville or Kuujaacq, Québec. In June 2006, Richmond completed a program of surface prospecting and trenching, including collection of samples for uranium analysis. A 26-meter wide outcrop was identified on the property. Channel sampling from this outcrop returned results averaging just less than 3% copper.