Brigus Gold Reduces Its 2011 Hedge Book by 79%

Brigus Gold Corp. ('Brigus Gold? or the 'Company?) (TSX:BRD)(NYSE
Amex:BRD) announces that it has reduced its 2011 forward gold sales
contract obligations ('hedge?) by 43,276 ounces, representing 79% of the
sales contracts deliverable in 2011, at a cost of US$21.0 million. The
Company used a portion of the proceeds raised from the C$57.5 million
financing completed on October 19, 2010 for the hedge book reduction. As
a result, the Company is completely unhedged for the period January
through September 2011 and will benefit from selling 100% of its Black
Fox Mine gold production at spot prices for this period.

The original forward gold sales contracts, at an average price of $876
per ounce of gold, were established in early 2009 as part of the project
debt facility for the Black Fox Mine. The unwinding of the hedge
position, means that, as of December 31, 2010, the Company will have
forward gold sales commitments for the period October 2011 through March
2013 of 98,409 ounces.

Brigus Gold Chairman, Chief Executive Officer and President Wade K. Dawe
said, 'One of our Company′s objectives for 2010 was to reduce the gold
hedge book and project debt thus strengthening the Company′s balance
sheet. On October 20, 2010, we used US$20.7 million from the October 19
financing to reduce the principal amount outstanding under our project
debt facility from US$42.0 million to US$21.3 million, representing an
overall reduction of 70% from the US$70.0 million owed at the beginning
of 2010.?

He continued, 'As importantly, with the gold price having risen from
US$900 per ounce in early 2009 to its current level in excess of
US$1,300, we have aggressively reduced our 2011 forward sales
commitments to provide our shareholders with greater exposure to a
rising gold price. We plan to continue to seek opportunities to reduce
the Company′s debt and increase our exposure to the gold price. As of
this date, we have unwound approximately 31% of the Company′s 2011-2013
hedge book, leaving only 10,428 ounces hedged in the fourth quarter of
2011 and 87,981 ounces hedged in the 2012-2013 period.?

For the fourth quarter of 2010, the Company will deliver 13,280 ounces
into forward sales contracts under its existing hedge book.

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
three mineral exploration projects.

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 further reduce its
forward gold sales contracts, deliver gold pursuant to forward gold
sales contracts, continue to reduce the principal outstanding under its
loan facility and the continuation of a rising gold price 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

303-524-3203

ir@brigusgold.com

or

Sean
Tufford, Director of Investor Relations

902-422-1421

stufford@brigusgold.com

Toll
Free: 1-866-785-0456

www.brigusgold.com