RMD.V · 2017-03-06 12:00:00

Richmond Minerals Inc. Increases Non-Brokered Private Placement to $216,000

Financings

TORONTO

March 6, 2017

/CNW/ - Richmond Minerals Inc. (

TSX-V: RMD

) ("

Richmond

") is pleased to announce that, that due to increased investor demand,

Richmond

is increasing its previously announced non-brokered private placement (see news release dated

February 23, 2017

) to

$216,000

from

$200,000

. The

offering will now consist of up to 4,320,000 units ("

Units

") at a price of CAN$0.05 per Unit, for gross proceeds of approximately

$216,000

(the "

Offering

"). Closing

of the Offering is expected to occur on or about

March 13, 2017

Each Unit will consist of one (1) common share in the capital stock of

Richmond

Common Share

") and one (1) common share purchase warrant ("

Warrant

").

Each Warrant will entitle the holder to purchase one Common Share at a price of CAN$0.10 per Common Share until the date which is twenty-four (24) months

following the closing date of the Offering, whereupon the Warrants will expire. The securities issued and issuable pursuant to the Offering will be subject to a four

month and one day statutory hold period.

Richmond

intends to use the net proceeds from the Offering to fund continued exploration on

Richmond's

assets and for general working capital purposes.

The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture

Exchange ("

TSX-V

") and applicable securities regulatory authorities.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws,

and may not be offered or sold to persons in

the United States

absent registration or an exemption from such registration requirements. This press release shall

not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or

sale would be unlawful.

CAUTIONARY STATEMENT: Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for

the adequacy or accuracy of this release. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking

information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially

from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to,

Richmond's

objectives, goals or future plans, including successful completion of the Offering. Factors that could cause actual results to differ materially from such forward-

looking information include, but are not limited to, changes in general economic conditions and conditions in the financial markets; changes in demand and prices

for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments, and those risks set out in

Richmond's

public

documents filed on SEDAR. Although

Richmond

believes that the assumptions and factors used in preparing the forward-looking information in this news release

are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given

that such events will occur in the disclosed time frames or at all.

Richmond

disclaims any intention or obligation to update or revise any forward-looking

information, whether as a result of new information, future events or otherwise, other than as required by law.

SOURCE

Richmond Minerals Inc.

To view the original version on PR Newswire, visit: http://www.newswire.ca/en/releases/archive/March2017/06/c4783.html

%SEDAR: 00009282E

For further information:

Warren Hawkins, P. Eng., Exploration Manager, E: [email protected], Tel: 416-603-2114, Fax: 416-603-8436

CO: Richmond Minerals Inc.

CNW 16:36e 06-MAR-17

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