Brigus Gold Reports Fourth Quarter and 2012 Financial Results

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