Brigus Gold Completes C$14,000,000 Private Placement Financing of Flow-Through Shares

7/30/2010

Halifax, Nova Scotia; July 30, 2010– Brigus Gold Corp. (“Brigus Gold” or the “Company”) is pleased to announce that it has closed its previously announced private placement offering of 10,000,000 common shares of the Company designated as flow-through shares for purposes of the Income Tax Act (Canada) (the "Flow-Through Shares") at a price of C$1.40 per Flow-Through Share for total gross proceeds to the Company of C$14 million  (the “Offering”). This Offering included the exercise of the additional C$2 million option and was completed on a guaranteed agency private placement basis by Haywood Securities Inc. as lead underwriter, with a syndicate which included Cormark Securities Inc., and Brant Securities Limited.

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). The funds will be used for exploration and development activities at the Company’s Black Fox gold mine and adjoining Grey Fox - Pike River Project in Ontario.

The Flow-Through Shares were 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 are subject to a four-month hold period. 

 

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 Operations encompass the adjoining Grey Fox and Pike River properties, 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 percent interest in the Ixhuatan Property located in the state of Chiapas, and the Huizopa Joint Venture, an 80 percent interest in an early stage, gold-silver exploration joint venture located in the State of Chihuahua. In the Dominican Republic, Brigus Gold and Everton Resources have a joint venture for the APV and Loma El Mate gold exploration projects.

 

Contact Information:

Wendy Yang, Vice President of Investor Relations

Phone: 720-886-9656 Ext. 217                                        Toll Free: 1-877-465-3484

E-mail: info@brigusgold.com                                        

 

Sean Tufford, Director of Investor Relations

Phone: 902-422-1421                                                     Toll Free: 1-866-785-0456

Email: sean@brigusgold.com                                        

 

Website: www.brigusgold.com

These securities discussed in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons unless an exemption from the registration requirements of the United States Securities Act of 1933, as amended, and all applicable state securities laws is available. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities in the United States or to, or for the account or benefit of, U.S. persons.

 

FORWARD-LOOKING STATEMENTS

This news release includes “Forward-Looking Statements” within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended.  All statements regarding the use of proceeds from the sale of the Flow-Through Shares involve various risks and uncertainties.  There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.  Important factors that could cause actual results to differ materially from these forward-looking statements are disclosed under the heading “Risk Factors” in Brigus Gold’s and its predecessor companies’ most recent annual report on Form 10-K and elsewhere in documents filed from time to time with the Toronto Stock Exchange, the NYSE Amex, 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.