Halifax, Nova Scotia
� December 7, 2010� Brigus
Gold Corp. (�Brigus� or the �Company�) is pleased
to announce that has entered an agreement with Primary Capital Inc. to offer
a total of Cdn$4,000,000 of common shares of the Company designated as
flow-through shares for purposes of the Income Tax Act (Canada) (the
"Flow-Through Shares") on a guaranteed agency basis at a price of
Cdn$2.07 per Flow-Through Share (the �Offering�).
The proceeds from the sale of the Flow-Through Shares will be used to
incur eligible Canadian Exploration Expenses, as defined under the
Income Tax Act (Canada), that will be renounced in favour
of the purchasers with an effective date of no later than December 31,
2010. The funds will be used for Canadian exploration and development
activities primarily at the Company�s 100% owned Black Fox Complex and Stock
Mine property, both located in the Timmins Mining District, Ontario.
The closing of the Offering is expected to occur on or about December 17,
2010 and is subject to the completion of formal documentation, receipt of all
necessary regulatory approvals, including the approval of the Toronto Stock
Exchange, and other customary conditions.
The Flow-Through Shares will be offered to residents of Canada pursuant to
Regulation S of the U.S. Securities Act of 1933, as amended (the �Securities
Act�). The Flow-Through Shares have not been registered under the
Securities Act, and may not be offered or sold in the United States without
registration or pursuant to an applicable exemption from the registration
requirements of the Securities Act. The Flow-Through Shares will be
subject to a four-month hold period in Canada.
This press release does not constitute an offer to sell, nor is it a
solicitation of an offer to buy, securities.
About Brigus Gold
Brigus Gold 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 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 Black River-Matheson,
Ontario, Canada. Brigus
Gold 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%
interest in the Ixhuatan Project located in the
state of Chiapas, and an 80% interest in the Huizopa
Joint Venture, an early stage, gold-silver exploration project located in the
State of Chihuahua. In the Dominican Republic, Brigus
Gold has a joint venture covering three mineral exploration projects.
Contact
Information:
Wendy Yang, Vice President of Investor Relations
Phone: 720-886-9656 Ext. 217
E-mail: ir@brigusgold.com
Website: www.brigusgold.com
This news 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 State
in which such offer, solicitation or sale would be unlawful. The securities
have not been registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements.
The Toronto Stock Exchange does not accept responsibility for the adequacy or
accuracy of this release.
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