Brigus Gold Completes Previously Announced C$57.5 Million Financing

Brigus Gold Corp. ('Brigus Gold? or the 'Company?) (TSX: BRD) (NYSE
Amex: BRD) is pleased to announce that it has completed its
previously-announced offering (the 'Offering?) of 34,500,000 units
('Units?) and 3,382,353 common shares designated as flow-through common
shares for purposes of the Income Tax Act (Canada) (the
'Flow-Through Shares?) (including 4,500,000 additional Units and 441,176
additional Flow-Through Shares which formed the Over-Allotment Option as
defined below) at a price of C$1.50 per Unit (the 'Unit Price?) and
C$1.70 per Flow-Through Share, for gross proceeds to the Company of
C$57,500,000. Each Unit consists of one common share in the capital of
the Company (a '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
per share on or before November 19, 2014.

The Offering syndicate was led by Haywood Securities Inc. and included
Cormark Securities Inc., BMO Nesbitt Burns Inc., CIBC World Markets
Inc., Jennings Capital Inc., Paradigm Capital Inc. and Brant Securities
Limited (collectively, the 'Underwriters?).

The Underwriters exercised their option to arrange for additional
purchases of up to 4,500,000 Units and up to 441,176 Flow-Through Shares
sold pursuant to the Offering to cover over-allotments (the
'Over-Allotment Option?).

In connection with the closing of the Offering, the Company obtained a
consent (the 'Consent?) of its lenders under a project facility
agreement (the 'Project Facility Agreement?) dated as of February 20,
2009, as amended, between Brigus Gold as borrower and Macquarie Bank
Limited and RMB Australia Holdings Limited (collectively, the 'Lenders?)
pursuant to which the Lenders agreed, among other things, that the
proceeds from the Offering would be used as follows:

• 
  C$5.0 million of the net proceeds from the sale of the Units will be
  used for working capital purposes;
  
• 
  Approximately US$21.0 million will be applied, within one business day
  of closing, to the outstanding principal owing under the Project
  Facility Agreement;
  
• 
  Approximately US$21.0 million will be applied, within thirty days of
  closing, to unwinding some of the Company′s existing gold hedge
  commitments.
  

The Company will use the gross 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 Canadian Exploration Expense ('CEE?), and will renounce
such flow-through expenditures to the investors for the Company′s
taxation year ending December 31, 2010.

Brigus Gold′s project facility debt balance will be reduced to
approximately US$20.8 million after payment of approximately US$21.0.
This will represent a 70% reduction in the project facility debt from
the original US$70.0 million principal owed at the beginning of 2010. In
connection with the Consent and the application of net proceeds of the
Offering, the Lenders also agreed to amend the repayment schedule into
quarterly payments of approximately US$3.5 million per quarter, with the
first quarterly payment scheduled for June 30, 2011.

The securities issued pursuant to the Offering were not registered under
the United States Securities Act of 1933, as amended, and may not
be offered or sold in the United States absent registration or an
applicable exemption from registration requirements.

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 Mine is located 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
an 80 percent interest in the Huizopa Joint Venture, an early stage,
gold-silver exploration joint venture located in the State of Chihuahua.
In the Dominican Republic, Brigus Gold also has a joint venture covering
the APV, Loma El Mate and Loma Hueca mineral exploration projects.

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 Company's use of proceeds from the Offering and ability to
make the scheduled payments under the Project Facility Agreement 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, 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.

Brigus Gold Corp.

Wendy Yang, Vice President of Investor Relations

Phone:
303-524-3203

E-mail: ir@brigusgold.com

or

Sean
Tufford, Director of Investor Relations

Phone: 902-422-1421

Email:
stufford@brigusgold.com

Toll
Free: 1-866-785-0456

Website: www.brigusgold.com