Brigus Gold Completes US$50 Million Bought Deal of Convertible Debentures

Brigus Gold Corp. ('Brigus? or the 'Company?) (TSX: BRD) (NYSE Amex:
BRD) has completed its previously announced bought deal financing (the
'Financing?) of US$50,000,000 aggregate principal amount of 6.5% senior
unsecured convertible debentures (the 'Debentures?) at a price of
US$1,000 per Debenture. The Financing was underwritten by a syndicate
led by BMO Capital Markets and included Haywood Securities Inc., CIBC
World Markets Inc., Cormark Securities Inc. and Paradigm Capital Inc.
(collectively, the 'Underwriters?).

The Debentures bear interest at 6.5% per annum, payable semi-annually on
the last day of March and September commencing on September 30, 2011,
and mature on March 31, 2016. It is estimated that the first interest
payment, payable on September 30, 2011, will be US$33.94 per US$1,000
principal amount of Debentures. The first interest payment on September
30, 2011 will include interest accrued from the closing date to, but
excluding, September 30, 2011. The Debentures are convertible at the
holder′s option into common shares of the Company at a conversion price
of US$2.45 per common share, subject to adjustment in certain
circumstances and satisfaction of certain conditions.

The Debentures are not redeemable before March 31, 2014. On or after
March 31, 2014 and at any time prior to maturity, the Debentures may be
redeemed in whole or in part from time to time at the Company′s option,
at a price equal to their principal amount plus accrued and unpaid
interest, provided that the volume weighted average trading price of the
common shares on the NYSE Amex Equities Exchange for the 20 consecutive
trading days ending on the fifth trading day preceding the date on which
the notice of redemption is given is not less than 125% of the
conversion price.

The Company will use US$22.1 million of thenet proceeds of the
Financing to fully repay the project facility agreement with RMB
Australia Holdings Limited today. The balance of the net proceeds will
be used by the Company to accelerate exploration drilling at the
Company′s Black Fox Complex, for continuing development of the Black Fox
Complex, to undertake an engineering study on the expansion of the Black
Fox Mill and for general working capital purposes.

The Debentures are listed for trading on the Toronto Stock Exchange
under the symbol 'BRD.DB.U?.

This news release does not constitute an offer to sell or a solicitation
of any offer to buy the securities in the United States. The securities
offered have not been and will not be registered under the U.S.
Securities Act of 1933 and may not be offered or sold in the United
States absent registration or an applicable exemption from registration
requirements of such act.

About Brigus Gold

Brigus 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 and Mill in the Timmins Gold District of Ontario, Canada. The Black
Fox Complex encompasses the Black Fox Mine and adjoining properties in
the Township of Black River-Matheson, Ontario, Canada. Brigus 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 Project
located in the state of Chiapas. In the Dominican Republic, Brigus has a
joint venture covering three mineral exploration projects.

Cautionary and Forward-Looking Statements

This news release includes 'Forward-Looking Statements? within the
meaning of Canadian regulations and section 21E of the United States
Securities Exchange Act of 1934, as amended. All statements regarding
the use of the net proceeds of the Financing, terms and conditions of
the Debentures, timing of conversion and maturity of the Debentures, the
timing of capital spending and the results there from, and the Company′s
ability to continue development of the Black Fox Complex, to complete an
engineering study of the Black Fox Mill, including timing and outcome of
such study, are forward-looking statements and estimates that involve
various risks and uncertainties. Although the statement of the use of
net proceeds are reasonable, undue reliance should not be placed on the
forward-looking statements because the Company can give no assurances
that they will prove to be correct 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 include commodity price risk,
economic risk 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, the Prospectus filed in connection with the
Financing and elsewhere in Brigus Gold′s documents filed from time to
time with the Toronto Stock Exchange, the NYSE Amex Equities Exchange,
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.

Jennifer Nicholson, Vice President, Investor
Relations

902-422-1421

ir@brigusgold.com

or

Wendy
Yang, Vice President

303-524-3203