Brigus Gold Corp. Announces C$50 Million 'Bought Deal' Financing

Brigus Gold Corp. ('Brigus Gold? or the 'Company?) (TSX: BRD)(NYSE Amex:
BRD) is pleased to announce that it has entered into an agreement with a
syndicate of investment dealers, whereby the Underwriters have agreed
to: (i) purchase 30,000,000 units ('Units?) of Brigus at a price of
C$1.50 per Unit (the 'Unit Price') for gross proceeds to the Company of
C$45,000,000, and (ii) offer for sale on a guaranteed agency basis, up
to 2,941,177 common shares designated as flow-through shares for
purposes of the Income Tax Act (Canada) (the 'Flow-Through
Shares?), at a price of C$1.70 per Flow-Through Share (the 'Flow-Through
Price?) for gross proceeds to the Company of up to C$5,000,000
(collectively, the 'Offering?). Each Unit will consist of one common
share ('Common Share?) and one quarter of one common share purchase
warrant (each whole warrant a 'Warrant?), with each Warrant entitling
the holder to acquire one Common Share at a price of C$2.19 expiring
November 19, 2014. The Flow-Through Shares and the Units will be
publicly offered by way of short form prospectus to purchasers resident
in each of the provinces and territories of Canada, excluding Quebec.

The units will also be offered in the United States on a private
placement basis to certain institutional investors pursuant to Rule 144A
of the United States Securities Act of 1933, as amended ('Securities
Act?) and to 'Accredited Investors? satisfying one or more of the
criteria set forth in Rule 501(a) of Regulation D promulgated under the
Securities Act.

In addition, the Company has granted the Underwriters an over-allotment
option to purchase up to an additional 15% of any combination of Units
and Flow-Though Shares included in the Offering for a period of up to 30
days after the closing of the Offering.

The offering is scheduled to close on or about October 19, 2010 and is
subject to certain conditions including, but not limited to, the receipt
of all necessary approvals including the approval of the Toronto Stock
Exchange, the NYSE Amex, and the securities regulatory authorities.

The Company plans to use C$5.0 million of the net proceeds from the sale
of the Units for working capital with approximately 50% of the balance
used to reduce outstanding project debt related to the Black Fox project
and 50% of the balance used to reduce the Company′s existing gold hedge
commitments.

The Company will use the proceeds from the sale of the Flow-Through
Shares to incur flow-through expenditures for its Canadian projects
located near Timmins, Ontario and Uranium City, Saskatchewan which
qualify as 100% Canadian Exploration Expense ('CEE?), and will renounce
such flow-through expenditures to the investors for the taxation year
ending December 31, 2010.

This press release shall not constitute an offer to sell or solicitation
of an offer to buy the securities in any jurisdiction. The common shares
will not be and have not been registered under the Securities Act and
may not be offered or sold in the United States absent registration or
applicable exemption from the registration requirements.

Cautionary and Forward-Looking Statements:

Statements contained in this document 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 amount of financing, the 'bought deal? basis of the
financing and the timing therewith, as well as related to the option
granted to the Underwriters 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 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, the size, timing and
use of proceeds and gross proceeds of the company, and the financial
results of the company. Important factors that could cause actual
results to differ materially from these forward-looking statements
include environmental and financing risks and other factors disclosed
under the heading 'Risk Factors? in Brigus Gold′s and its predecessor
companies′ 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, 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.

Wendy Yang, 720-886-9565 ext. 217

Vice
President of Investor Relations

ir@brigusgold.com

or

Sean
Tufford, 902-422-1432

Director of Investor Relations

stufford@brigusgold.com