Richmond Minerals Inc. - Corporate Update Swayze Mining Claims

TORONTO, March 3, 2015 /CNW/ - Richmond Minerals Inc.  (TSX-V: RMD) ("Richmond" or the "Company") is pleased to announce that it has signed a memorandum of understanding (the "MOU") with Brunswick House, Flying Post and Chapleau Cree First Nation communities regarding the Company's Swayze Gold Project located in Raney and Rollo Townships, near Borden Lake, Chapleau, Ontario.

The MOU sets out the parameters upon which a relationship based on mutual respect and cooperation with the First Nations communities is to be built. Richmond will be working with the communities and receiving their input as the Company advances the Swayze Gold Project. The communities' contribution of local knowledge will be invaluable in helping Richmond create a socially responsible exploration program. Additionally the three communities will have an opportunity to participate in the benefits of the project through training, ongoing communication and business development. Brunswick House First Nation Chief Kevin Tangie commented "Brunswick House is pleased and eager to work with our new partners. These partnerships are key for all regions and will benefit the many families and businesses throughout Miigwech."

Specifically this MOU applies to those Swayze Gold Project claims in which Richmond owns a 100% interest (119 mining claims), and has a grandfathering provision for the claims in which Richmond owns a 50% interest (35 mining claims). Richmond has also agreed to negotiate an impact benefit agreement with the communities should the Swayze Gold Project proceed to production. The Company has just applied for an Exploration Permit from the Ministry of Mines and Northern Development for its 100% owned mining claims allowing for diamond drilling in excess of 20 pads.

Regarding Richmond's previous news release, the appellants have failed to file a notice of motion to have a panel review and set aside the order for dismissal of the appeal (of the Judgement announced on February 3, 2014 in favour of the Company) on or before the February 24, 2015 deadline. Consequently Richmond is now applying to the Provincial Mining Recorders Office to have the Certificates of Pending Proceedings and Certificates of Interest registered by the appellant against title to 150 of the Swayze Gold Project Mining Claims discharged from title to those Mining Claims.

Warren Hawkins, P.Eng, a "Qualified Person", within the meaning of Nation Instrument 43-101- Standards of Disclosure for Minerals Projects, has reviewed and approved the scientific and technical information contained in this news release. Mr. Hawkins is not considered to be "independent" of the Corporation (as defined in National Instrument 43-101), as he currently holds securities of the Corporation.

Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release constitute forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that the litigation will be resolved. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does  not  intend, and  expressly disclaims any  intention or  obligation to,  update or  revise  any  forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

On Behalf of Richmond Minerals,

{signed}

Franz Kozich
President and CEO

SOURCE Richmond Minerals Inc.