HALIFAX,
Jan. 13, 2014 /CNW/ - Brigus Gold
Corp. ("Brigus" or the "Company") (NYSE: BRD) (TSX: BRD) is pleased
to report annual production of 98,710 ounces of gold from its Black
Fox mine, including fourth quarter production of 21,916 ounces of
gold.
Production Highlights:
- Produced 98,710 ounces of gold in the year, including 21,916
ounces of gold in Q4 2013
- Sold 99,235 ounces of gold in the year, including 20,582 in Q4
2013
- Average grade of 4.34 gpt and average recovery of 93.9% for the
year, including average grade of 3.53 gpt and average recovery of
93.5% in Q4 2013
- Throughput of 2,063 tonnes per day milled, 752,959 tonnes
milled for the year, including throughput of 2,249 tonnes per day
milled and 206,914 tonnes milled in Q4 2013
- Average realized gold price of $1,413 for the year, including $1,271 in Q4 2013 (Excludes the impact of
sales under the Goldstream agreement)
As previously announced Brigus and Primero Mining Corp. ("Primero")
have entered into an arrangement whereby Primero will acquire all
outstanding common shares of Brigus pursuant to a plan of
arrangement to create a diversified, Americas based mid-tier gold
producer. This agreement represents a 45% premium to the
closing price as at December 13, 2013
on the Toronto Stock Exchange. Brigus shareholders will own approximately 27%
of the issued common shares of Primero on a proforma basis.
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 also owns the Goldfields Project
located near Uranium City, Saskatchewan,
Canada, which hosts the Box and Athona gold deposits. In the
Dominican Republic, Brigus has signed an agreement to sell its
remaining interests in three mineral exploration projects. In
Mexico, Brigus owns the Ixhuatan Project located in
the state of Chiapas.
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 40F 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 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.
SOURCE Brigus Gold Corp.