Brigus Gold Provides Fourth Quarter Update

Brigus Gold Corp. (“Brigus” or the “Company”) (NYSE Amex: BRD; TSX: BRD) provides an update on its Black Fox Mine fourth quarter production.

The Black Fox Mine is expected to produce between 14,000 and 15,000 ounces in the fourth quarter of 2011. Production is lower than anticipated due to a slower ramp up of underground production and higher than expected dilution in the underground as the Company develops and optimizes mining practices.
The average grade from the underground mine was 2.79 grams per tonne (gpt) in October and November.
The open pit mine is performing as expected, delivering grades and tonnage as per the mine plan. The grade from the open pit ore sent to the mill was 2.71 gpt for October and November. Grades in the open pit are expected to increase in 2012 as per the mine plan.
The mill is operating well with strong recoveries of 94% to 95% and reasonably low downtime.
No ore was processed from low-grade stockpiles.
The Company continues to make changes to improve weak performance of the underground mine. A new mine General Manager, with over 30 years experience mining structurally controlled ore bodies, began working with Brigus in early December. The new GM is focused on maximizing underground production and minimizing dilution. A new underground production geology team has been assembled and is making significant progress with geologic interpretation and mine planning. As a result of these and other actions, grades from the underground are now improving.
The Company continues to hire skilled underground mining crews to optimize its workforce.
The Company has sufficient cash flow to fund operating and development needs and has recently completed a successful flow through financing.

“Increasing production at Black Fox is our top priority,” said Wade Dawe, President and CEO of Brigus. “Our senior management team is focused on making improvements at the underground mine to ensure we meet expectations going forward. Historically, the Black Fox underground mine produced 211,000 ounces at an average grade of approximately 6 grams per tonne over a four-year period from 1997 to 2001. Brigus’ geological modeling underground confirms the quality and grade of the underground ore body that has a reserve grade of 5.9 gpt as per the January 2011 NI 43-101. We are confident that we can produce results in line with those achieved historically.”

Brigus continues to report excellent exploration results at the Black Fox Complex. The Company released its initial NI 43-101 on the Contact and 147 Zone deposits on December 15th increasing the resource on the property by more than 50%.

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 has completed its transaction to sell a 75% interest in the Ixhuatan Project located in the state of Chiapas to Cangold. In the Dominican Republic, Brigus has signed an agreement to sell its remaining interests in three mineral exploration projects.

Cautionary and Forward-Looking Statements

Statements contained in this news release that 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 targeted gold production at its Black Fox Mine, including underground production, 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 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.

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