TSX Venture Exchange: RMD

TORONTONov. 12 /CNW/ – Richmond Minerals Inc. (TSX-V: RMD) (“Richmond Minerals”) announces that, subject to TSX Venture Exchange approval, it is extending the time for the exercise of 4,100,000 common share purchase warrants with an exercise price of $0.10 per common share (the “November Warrants”) from the present expiry date of November 17, 2010 to May 17, 2011 and 9,700,000 common share purchase warrants with an exercise price of $0.15 per common share (the “December Warrants”) from the present expiry date of December 17, 2010 to June 17, 2011. The exercise price will remain unchanged and no person holding either the November Warrants or the December Warrants is an Insider of the company.

The November Warrants and the December Warrants were issued pursuant to two separate private placements originally announced on November 2, 2009 and December 16, 2009, respectively.

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

This news release contains forward-looking statements. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company’s mineral properties, and the Company’s financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: 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; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company’s forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

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For further information:Birks Bovaird, President or
Warren Hawkins, Exploration Manager
Telephone: 416-603-2114
Facsimile: 416-603-8436
info@richmondminerals.com