Halifax, Nova Scotia; March 31, 2011� Brigus Gold Corp. (�Brigus� or the �Company�) (TSX and NYSE Amex: BRD) reported operating income of $7.8 million for the year ended December 31, 2010 compared to $6.7 million for the same period in 2009.  In the first full year of production at the Company�s Black Fox Mine (�Black Fox�) in the Timmins Mining District, Ontario, the Company produced 67,499 ounces of gold in 2010, a 29% increase over 52,152 ounces produced in 2009.  Black Fox commenced commercial production in May 2009.
 
(All dollar amounts in this news release are in U.S. dollars unless otherwise noted.)

Among the 2010 and year to date 2011 highlights, the Company:
 

• Completed the merger of Apollo Gold Corporation (�Apollo�) and Linear Gold Corp. (�Linear�) to form Brigus on June 25, 2010.
• Sold 69,922 ounces of gold in 2010, a 51% increase over 46,016 ounces sold in 2009.
• Reported total cash costs per ounce of gold sold in 2010 of $589, a slight increase over $567 per ounce in 2009.
• Reported cash and restricted cash at December 31, 2010 of $22.8 million compared to $6.7 million at December 31, 2009. Cash and restricted cash total approximately $35 million as at March 31, 2011.
• Raised $70.0 million in net proceeds from equity financings during the year and sold a future gold stream to Sandstorm Resources Ltd. for $56.3 million, with the proceeds used to reduce the Black Fox project facility debt (�Project Facility�) and to unwind gold forward sales contracts.
• Eliminated all gold forward sales contracts making Brigus hedge free with no gold derivative positions and subject only to a gold stream agreement sale.
• Strengthened the balance sheet by reducing the Project Facility during 2010 from $70.0 million down to $22.0 million as at December 31, 2010.
• Issued $50.0 million of senior unsecured convertible debentures on March 23, 2011 and eliminated the Project Facility.
• Commenced the development of the Black Fox underground mine in the second quarter of 2010 (�Q2 2010�), including the construction of a new ramp from the 235-metre (�m�) level to the surface and a new ventilation and services raise, both of which were completed in the first quarter of 2011 (�Q1 2011�).
• Extended the known strike length of the Contact Zone, at the Black Fox Complex, from 400 m to 1,200 m by completing 106 drill holes comprising of a total of 43,000 m in 2010 and including January 1, 2011 to March 11, 2011.

 
Commenting on the results, Wade K. Dawe, Chairman, Chief Executive Officer and President of Brigus, said, �2010 was a transformational year for our company.  Following the merger that launched Brigus at the end of June last year, we have completed underground development and prepared for Phase 2 open pit production at our Black Fox Mine while also rebuilding our balance sheet and eliminating the gold hedge book.  With these achievements, we are now well positioned to increase gold production quarter-over-quarter this year and expect to reach a steady state production level of over 100,000 ounces per year in the third quarter of 2011, while achieving profitability and cash flow in 2011.�
 
Operational Highlights
Black Fox Production and Sales Highlights

1. Total gold production in 2009 included 5,531 ounces produced from toll processing.

 
During 2010, 6,354,000 tonnes of material was mined from Phase 1 of the open pit of which 792,000 tonnes were ore and 5,562,000 tonnes were waste rock resulting in a strip ratio of 7.0:1 compared to the year ended December 31, 2009 when 4,869,000 tonnes were mined from Phase 1, of which 642,000 tonnes was ore, resulting in a strip ratio of 6.6:1.  In addition to the Phase 1 tonnes mined in the year 2010, an additional 3,199,000 tonnes of overburden material was removed in preparation for the mining of Phase 2 of the open pit.  The overburden removal continued into Q1 2011 and ore production from Phase 2 commenced in March 2011. 
 
In 2010, the Black Fox mill processed 718,400 tonnes of ore (1,968 tonnes per day), at an average gold grade of 3.17 grams per tonne (�gpt�) and a recovery rate of 92%, achieving total gold production of 67,499 ounces, compared to 52,152 ounces produced during 2009. 
 
Seventy-five percent, or 52,729 ounces, of the total gold sales of 69,922 ounces in 2010 were delivered against forward sales contracts at a realized price of $876 per ounce.  The balance of 17,193 ounces of gold (25%) was sold into the spot market at an average gold price of $1,305 per ounce.  In 2010, the average realized gold price for the year was $981 per ounce and total cash costs were $589 per ounce.  Thus, Brigus achieved a non-GAAP cash margin of $392 per ounce in 2010. During 2011, 88% of our gold will be sold into the spot market and 12% will be sold for $500 per ounce pursuant to the gold stream agreement.
 
Financial Overview
 
Net loss for the year ended December 31, 2010 was $67.0 million compared to a net loss of $61.7 million for 2009.  The 2010 net loss was related primarily to a $51.8 million loss on gold derivatives, an $8 million non-cash loss in the change in fair value of certain warrants to purchase Brigus common shares that are denominated in Canadian dollars (other than the Company�s U.S. dollar functional currency) and an $11.5 million interest expense charge.
General and administrative expenses were $12.6 million and $4.9 million for the years 2010 and 2009, respectively.  The increase is mainly as a result of the merger between Apollo and Linear that formed Brigus, including employee severance costs, increased overhead as a result of operating two offices and increased consulting and legal fees in connection with the Project Facility.  Brigus plans to significantly reduce General and Administrative expenses as it closes its Denver office and continues to transition all corporate functions to its executive offices in Halifax.

Capital Expenditures
 
Capital expenditures were $35.5 million in 2010 and included $20.9 million on the development of the underground mine, $12.6 million on open pit and underground mine equipment financed by capital leases, and $2.0 million on a new mine maintenance workshop and other service infrastructure.
The underground mine at Black Fox will supplement the open pit ore feed to the mill with higher-grade ores.  The mine plan for Phase 2 of the open pit also required that the historic ventilation and services raise be moved and replaced with a larger capacity facility.  The new ventilation and services facility was commissioned on March 1, 2011.  Mining of Phase 2 waste commenced during Q1 2011 and the mining of ore from the Phase 2 open pit began on March 23, 2011 following the removal of the old ventilation facility.

Exploration Overview
Exploration expenditures were $7.5 million in 2010, a significant increase from $2.0 million in 2009.  In 2010, the Company spent $5.5 million on exploration at the Black Fox Complex, which includes the Grey Fox and Pike River properties, and $1.2 million at the Goldfields Project in Saskatchewan with the balance spent in Mexico.

At the Black Fox Complex, drilling is continuing with four drills testing gold targets at the Contact Zone and elsewhere. Over the past year, drilling has tripled the strike length of the Contact Zone to 1.2 kilometres with the deepest gold mineralization to date intersected at approximately 300 m from surface.  Significantly, the Contact Zone remains open along strike and at depth.  The proximity of the Contact Zone to the Company�s operating Black Fox Mine provides an opportunity for rapid project advancement and production growth leveraging the Company�s existing infrastructure.  In January 2011, a drilling program commenced at the historic Stock gold mine at the Black Fox Mill property, and as of March 11, 2011, two drill holes had been completed for 935 m, with assays pending.

Reserves and Resources
 
At December 31, 2010, Black Fox had approximately 0.9 million ounces of gold contained within 6.3 million tonnes at an average gold grade of 4.4 gpt in Proven and Probable Reserves.  Brigus� consolidated total Proven and Probable Reserves, including Black Fox and the Goldfields Project, total 1.9 million ounces of gold contained within 31.7 million tonnes at an average gold grade of 1.9 gpt.  
 
(For the tables and footnotes for Proven and Probable Reserves, Measured and Indicated Resources and Inferred Resources, please refer to the PDF of this news release on our website.)
 
2011 Outlook
 
The Black Fox underground mine is expected to achieve commercial production in April 2011, increasing to 1,100 tpd by the end of 2011.  Brigus projects increasing gold production quarter-over-quarter during 2011 as higher grade underground ore augments open pit ore for a total throughput of 2,000 tpd at the Black Fox Mill.  
The average gold grades are expected to be 6.2 gpt from underground ore and 3.4 gpt from open pit ore. 

 
Estimated total gold production and cash costs in 2011 are as follows:

 
Total capital expenditure in 2011 is estimated at $37.0 million, mainly for underground development and underground mining equipment at Black Fox. The Company invested approximately $13.5 million in capital expenditure in the Q1 2011.
Exploration expenditures for 2011 are estimated at $11.0 million. 
Continuing positive exploration drill results from Black Fox Complex targets such as the Contact Zone, Gibson and Grey Fox South represent near term potential to expand gold production and to extend the mine life at the Black Fox Complex.  
In conjunction with the increased exploration program in 2011, the Company has commenced an engineering study for the expansion of the Black Fox Mill.  The results from this initial conceptual study are expected mid-year and will evaluate the opportunity for a multi-year phased increase in throughput from the current level of 2,000 tpd to 2,250 tpd and over 3,000 tpd over time.  The proposed 3,000 tpd rate would represent a 50% increase in production capacity.  The implementation of a gravity circuit and additional leach capacity as part of the mill expansion are expected to improve the recovery rate. 
The Qualified Person who reviewed the above technical information related to operations of the Black Fox Mine and Mill is Chief Operating Officer and Vice President Richard Allan, P.Eng.
 
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 Complex in the Timmins gold district of Ontario, Canada.  The Black Fox Complex encompasses the Black Fox Mine and Mill, and adjoining Grey Fox-Pike River property, all in the Township of Matheson, Ontario, Canada.  Brigus is also advancing its Goldfields Project located near Uranium City, Saskatchewan, Canada, which hosts the Box and Athona gold deposits. In Mexico, Brigus holds a 100% interest in the Ixhuatan Project located in the state of Chiapas.  In the Dominican Republic, Brigus Gold has a joint venture covering three mineral exploration projects.
 
Contact Information:
Jennifer Nicholson, Vice President of Investor Relations
Phone: 902-422-1421                                                 
E-mail: ir@brigusgold.com                                        
Toll Free: 1-866-785-0456
 
Wendy Yang, Vice President
Phone: 303-524-3203                                                  
                                                                                   
(For the full Financial Statements, please refer to the PDF of this release on our website.)
 
Website: www.brigusgold.com
Cautionary Note to U.S. Investors Concerning Estimates of Mineral Resources
 
This news release uses the term mineral �resources�.  The Company advises U.S. investors that while these terms are defined in and required by Canadian regulations, these terms are not defined terms under the U.S. Securities and Exchange Commission (�SEC�) Industry Guide 7 and are generally not permitted to be used in reports and registration statements filed with the SEC.  The SEC generally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant �reserves� as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves.
 
Non-GAAP Financial Measures
 
The term �total cash cost� is a non-GAAP financial measure and is used on a per ounce of gold basis. Total cash cost is equivalent to direct operating cost as found on the Consolidated Statements of Operations and includes by-product credits for payable silver production. We have included total cash cost information to provide investors with information about the cost structure of our mining operations. This information differs from measures of performance determined in accordance with GAAP in the United States and Canada and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. This measure is not necessarily indicative of operating profit or cash flow from operations as determined under GAAP and may not be comparable to similarly titled measures of other companies.
 
Cautionary and Forward-Looking Statements
 
Statements contained in this news release which are not historical facts are forward-looking statements that involve risk, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements.  All statements regarding the ability of the Company to achieve its production and cash costs estimates for Q1 2011, the period Q2-Q4, 2011 and for the full year 2011; to achieve ramping up the Black Fox underground mine to reach commercial production in April 2011 and 1,100 tpd by the end of 2011; to realize the estimated average gold grades for the open pit and underground operations; to accomplish the exploration and capital programs for 2011, including the estimated expenditures; to expand the mill capacity and production increases in the future; and to improve the recovery rates in the future; to  continue to show positive exploration drill results; completion of an engineering study for the Black Fox Mill; and deliver gold pursuant to the gold stream agreement, are forward-looking statements and estimates that involve various risks and uncertainties.  This forward-looking information includes, or may be based upon, estimates, forecasts, and statements as to management's expectations with respect to, among other things, the outcome of legal proceedings, the issue of permits, the size and quality of the company's mineral resources, progress in development of mineral properties, future production and sales volumes, capital and mine production costs, demand and market outlook for metals, future metal prices and treatment and refining charges, and the financial results of the Company.
 
Important factors that could cause actual results to differ materially from these forward-looking statements include environmental risks and other factors disclosed under the heading �Risk Factors� in Brigus Gold�s most recent annual report on Form 10-K filed with the United States Securities and Exchange Commission and elsewhere in Brigus Gold�s documents filed from time to time with the Toronto Stock Exchange, the NYSE Amex Equities, the United States Securities and Exchange Commission and other regulatory authorities.  All forward-looking statements included in this news release are based on information available to the Company on the date hereof.  The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.