Brigus Gold Provides Black Fox Mine Update

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Algemeen advies 08/06/2011 09:17
Halifax, Nova Scotia; June 7, 2011 – Brigus Gold Corp. (“Brigus” or the “Company”) (NYSE Amex: BRD; TSX: BRD) is pleased to provide an update on continuing progress at its Black Fox Mine.

• The Company expects the Black Fox Mine to produce between 16,500 and 18,000 ounces of gold in the second quarter of 2011 (April to June).

• The Black Fox Mine is expected to reach a steady state annual production level of 104,000 ounces of gold in the third quarter of 2011.

• Ore production from both the Phase 2 open pit and underground mine began at the end of March 2011 and has been ramping up since then. Commercial production from the Phase 2 open pit was achieved in April 2011 and underground production continues to ramp up with commercial production levels expected to be attained in June 2011.

• The Company is currently mining 300 to 400 tonnes per day (tpd) from the underground. Underground production is a combination of ore from the five mining stopes that are currently open and lower-grade development ore. Underground ore grades from the mining stopes are in line with the mine plan. Underground production, at an average grade of 6.2 grams per tonne (gpt), is expected to increase to 800 tpd by July and approximately 1,000 tpd by year-end. The mine plan calls for 10 to 12 mining stopes to be available by year-end.

• The Phase 2 open pit is currently providing 1,600 to 1,700 tpd of ore, at an average grade of 3.4 gpt, which together with underground production is maintaining the Black Fox Mill’s 2,000 tpd throughput capacity. Open pit ore grades are in line with the mine plan. Mining from the open pit will be reduced as higher-grade underground ore production increases through the year.

• Open pit mining was restricted in Q1 2011 while relocation and construction of underground mine infrastructure was completed in the pit area. During Q1, production from low-grade stockpiles was approximately 8,500 ounces of gold as previously reported. With ore provided from both open pit and underground, gold production levels have significantly increased in Q2 and will continue to increase quarter over quarter throughout 2011.

• 2011 gold production is expected to total 73,000 to 80,000 ounces for the year. Cash costs will trend downward through the year and are expected to be between $575 to $625 per ounce by year-end.

“We are encouraged by the production growth at the Black Fox Mine,” said Wade K. Dawe, President and CEO of Brigus. “Increasing production levels and ongoing positive drilling results from our newly discovered 147 Zone confirm that we have turned the corner at Black Fox and set the stage for a positive second half of the year. We will reach steady state production of over 100,000 ounces annually in the third quarter.”

In conjunction with the ramp up of underground production and ongoing exploration success, the Company has commissioned an engineering study to review possible expansion scenarios for the Black Fox Mill. The results from this initial conceptual study will be provided before the end of June and will evaluate the opportunity for a multi-year phased increase in throughput from the current level of 2,000 tpd to a Phase 1 level of approximately 2,200 tpd and a Phase 2 level of approximately 3,000 tpd. As part of the mill expansion, the implementation of a gravity circuit and additional leach capacity, are expected to improve the recovery rate as well as the overall production throughput capacity.

About Brigus Gold
Brigus is a growing gold producer committed to maximizing shareholder value through a strategy of efficient production, targeted exploration and select acquisitions. The company operates the wholly owned Black Fox Mine and Mill in the Timmins Gold District of Ontario, Canada. The Black Fox Complex encompasses the Black Fox Mine and adjoining properties in the Township of Black River-Matheson, Ontario, Canada. Brigus is also advancing the Goldfields Project located near Uranium City, Saskatchewan, Canada, which hosts the Box and Athona gold deposits. In Mexico, Brigus Gold holds a 100 percent interest in the Ixhuatan Project located in the state of Chiapas that is subject to a letter of intent with Cangold. In the Dominican Republic, Brigus has a joint venture covering three mineral exploration projects that is subject to a letter of intent with Everton Resources.




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