HALIFAX, Nova Scotia--(BUSINESS WIRE)-- Brigus Gold Corp. (�Brigus� or the �Company�)(NYSE MKT: BRD; TSX: BRD) announces results for the fourth quarter (�Q4-12�) and the year-ended December 31, 2012.

Key milestones for the year include a 39% increase in production and achieving cash costs of $685 per ounce in the fourth quarter.

Wade Dawe, Chairman and CEO of Brigus Gold, commented: �In 2012, we successfully achieved many key objectives that align with our vision of becoming a leading Canadian gold producer. We realized record production levels at our Black Fox mine, significantly lowered our cash costs, increased profitability and continued to invest in exploration on the Grey Fox property to increase our gold resources. These positive trends will continue during 2013 as we further increase gold production and revenues while carefully managing costs and expenditures at the Black Fox mine.�

Fourth Quarter Highlights

• Cash costs of $685 per ounce, a 36% reduction from cash costs in Q4-11 which totaled $1,066.
• Increased operating margin by 81% to $964 per ounce compared to $533 per ounce in Q4-11.
• Increased production by 57% to 22,672 gold ounces compared to 14,457 ounces in Q4-11.
• Generated cash flow from operations, before working capital adjustments and the goldstream repurchase, of $17.4 million, compared to $6.6 million in Q4-11.

2012 Achievements

• Achieved record production of 77,374 gold ounces, a 39% increase over the 55,756 ounces produced in 2011.
• Significantly increased average head grade to 3.43 gpt in 2012 compared to 2.54 gpt in 2011.
• Generated cash flow from operations, before working capital adjustments and the goldstream repurchase, of $52.4 million, compared to $20.2 million in 2011.
• Generated positive income from mining operations of $23.3 million, compared to a loss of $4.0 million in 2011.
• Capital spending for the year totaled $53.5 million, below the prior year�s capital spending of $60.2 million.

Exploration Progress

• In Q4-12, the Company completed a$10.0 million flow-through financing to fund the Company�s 2013 exploration program.
• In Q4-12, the Company released exploration drill results from the Black Fox underground mine, which showed excellent gold grades over significant widths. Additional results from the underground exploration program will be released Q2-13.
• An updated NI 43-101 resource estimate on the Grey Fox property will be released next month followed by a bankable feasibility study in Q3-13.
• The Company completed a review of the Stock Mine property and concluded that the Stock Mine ore body remains open for expansion and potential future mining. For 2013, the Company will focus on development activities for Grey Fox and will not carry out further work on the Stock Mine property.

The following is a summary of the key operating results for the fourth quarter and the year ended December 31, 2012:

The following is a summary of the key financial results for the fourth quarter and year ended December 31, 2012:

(1) Adjusted cash flow from operations and total cash cost per ounce gold sold are non-GAAP measures and are not necessarily comparable to similar titled measures of other companies due to potential inconsistencies in the method of calculation.

�Brigus enters 2013 in a strong position with a management team committed to delivering shareholder value. This year, our efforts will be focused on increasing mined tonnage and gold production levels at the underground mine while continuing to lower our cost profile,� said Daniel Racine, Brigus� President and Chief Operating Officer. �For Grey Fox, some key milestones are forthcoming including the release of an updated NI 43-101 resource estimate in second quarter, followed by the release of a bankable feasibility study in quarter three.�

2013: Year to Date and Outlook

• Gold production for the first quarter of 2013 will exceed 25,000 ounces. Production results for the first quarter of 2013 will be released during the week of April 8, 2013.
• Recovered gold grades from the underground mine continue to exceed reserve grades.
• Gold production for the year will be in the range of 90,000 � 100,000 ounces, and cash costs will be within $700-$750.
• Capital spending for mining operations in 2013 is estimated at $43.5 million, consisting of the following:

$16.0M for underground sustaining capital

$6.0M for development capital relating to the underground

$13.0M for open pit capital stripping and overburden removal

$6.0M for other plant, property and equipment, including equipment overhauls and capital spending at the Black Fox mill

$2.5M for underground exploration.

• Capital spending related to the development of the Grey Fox mine and exploration on the Black Fox Complex is estimated at $12.0 million, consisting of the following:

$8.5M for exploration activities

$3.5M for initial development activities relating to the Grey Fox mine

Fourth quarter webcast and conference call
A webcast, including presentation, in addition to a conference call will be held today, Thursday, March 28, at 12 noon Atlantic time (11:00 a.m. Eastern time).

To attend by webcast, please visit http://www.investorcalendar.com/IC/CEPage.asp?ID=170629

To attend by phone, dial toll free 1-877-407-8133 (international 201-689-8040) at least 10 minutes prior to the start of the call. No pass code is required.

Please note: this press release should be read in conjunction with the Company�s consolidated financial statements for the years ended December 31, 2012 and December 31, 2011 and associated Management�s Discussion and Analysis (�MD&A�), which are available from the Company's website, www.brigusgold.com and on SEDAR (www.sedar.com). All dollar amounts are expressed in US dollars unless otherwise specified. All financial results are presented in accordance with International Financial Reporting Standards (�IFRS�).

About Brigus Gold
Brigus is a growing Canadian 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, the new Grey Fox property and adjoining properties in the Township of Black River-Matheson, Ontario, Canada. The Black Fox mine is in production and the Grey Fox mine, located four kilometres from Black Fox is in development. Brigus is also advancing the Goldfields Project located near Uranium City, Saskatchewan, Canada, which hosts the Box and Athona gold deposits. In Mexico, Brigus owns the Ixhuatan Project located in the state of Chiapas. In the Dominican Republic, Brigus has signed an agreement to sell its remaining interests in three mineral exploration projects.

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.

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, total cash costs, steady state annual production and mining rate estimates; estimated average gold grades for the open pit and underground operations; increase in gold production; increase in profitability; exploration drill results and resource additions, are forward-looking statements and estimates that involve various risks and uncertainties. This forward-looking statements include, 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� most recent Annual Information Form and Management Discussion and Analysis filed under the Company�s name at www.sedar.com and annual report on Form 40-F filed with the United States Securities and Exchange Commission at www.sec.gov as well as elsewhere in Brigus� documents filed from time to time with the Toronto Stock Exchange, the NYSE MKT 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.

Brigus Gold Corp.
Kate Wood, (902) 442-7184
Manager, Investor Relations
kwood@brigusgold.com

Source: Brigus Gold Corp.