Brigus Increases Black Fox Complex Resource by More Than 50% in Initial NI 43-101 on 147 and Contact Zones

Brigus Gold Corp. ('Brigus? or the 'Company?) (NYSE Amex: BRD) (TSX:
BRD) is pleased to announce an initial National Instrument 43-101 ('NI
43-101?) compliant, independent mineral resource estimate for the 147
and Contact zones on the Black Fox Complex. Highlights of the initial
resource estimate include:

'We are very pleased with the initial resource estimate,? said Howard
Bird, Brigus′ Vice President of Exploration. 'We believe these resource
ounces represent near-term production opportunities given their
proximity to our Black Fox infrastructure including the Black Fox mill
which is currently being expanded. In addition, there are another 95
drill holes, with assays pending, that have not been included in the
initial resource calculation and will increase our resource area drill
hole data by 37% upon receipt of final assays. We expect the results
from these holes will expand the resource and convert Inferred ounces to
Indicated ounces in 2012.?

Brigus′ exploration program continues to confirm the potential for new
gold discoveries within the Black Fox Complex, which covers
approximately 18 square kilometres within the Timmins Mining District.
The 147 and Contact zones are located approximately four kilometres
('km?) southeast of Brigus′ operating Black Fox gold mine.

Summary of Initial Mineral Resource Estimate ?
147 and Contact Zones

The reported mineral resource estimates reflect resource values which
include calculated cut-off grades of 2.63 grams per tonne ('g/t?) of
gold for a potential underground mine at the Contact Zone and 0.65 g/t
of gold for an initial open pit mine at the 147 Zone.

Notes:

1) Mineral resources, which are not mineral reserves, do not have
demonstrated economic viability.

2) The quantity and grade of reported Inferred resources in this
estimation are uncertain in nature and there has been insufficient
exploration to define these Inferred resources as an Indicated or
Measured mineral resource and it is uncertain if further exploration
will result in upgrading them to an Indicated or Measured mineral
resource category.

3) CIM definitions and guidelines were followed for mineral resources.

4) The resource was estimated using Gemcom version GEMS 6.3.1. The
database used for the estimate comprised diamond drill core composites
and assays. All samples were collected by Company personnel. A top cut
of 100 g/t was applied to assay grades prior to compositing grades for
interpolation into model blocks using Inverse Distance Weighting Squared
and was based on 1.5 m composites within a 3m long x 3m wide x 3m high
block model. Ordinary kriging and nearest neighbor interpolation were
also used for grade estimation and validation. The inverse distance
grade model was felt to best represent the continuity and distribution
of the gold grade based on the current geological model.

5) A bulk density of 2.90 t/m3 was used for all tonnage calculations.

6) A gold price of US$1,250/oz and an exchange rate of US$1.00=C$1.00
was utilized in the gold cut-off grade calculations of 2.63 g/t for
potential underground and 0.65 g/t for potential open-pit mineral
resources. Underground and open-pit mining costs, process costs and G&A
costs were estimated using experience gained from Brigus′ Black Fox
mine. Process recovery was assumed at 95%.

7) See 'Cautionary Note to U.S. Investors Concerning Estimates of
Mineral Indicated and Inferred Resources? at the end of this press
release for an important note regarding indicated and inferred resources.

The 147 Zone mineral resource estimate is based on 86 core drill holes.
The samples lie within the central area of the zone which is
approximately 275 m in a north-south direction dipping at approximately
80 degrees to the east. The gold mineralization occurs primarily within
multiple quartz carbonate brecciated zones hosted within bleached units
of variolitic mafic volcanics and other parallel hanging wall and foot
wall gold mineralized zones. The 147 Zone has returned positive gold
drill results to a vertical depth of approximately 300 m below surface
and recent deep targeted drilling has intersected the 147 Zone at a
vertical depth of approximately 435 m below surface (assays are pending).

The Contact Zone resource is based on 169 core holes drilled at
relatively close spacing. The gold mineral resource estimate lies within
approximately 450 m of strike length and mineralization remains open
along strike to the north and down dip. The Contact Zone consists of a
steeply dipping mineralized fault contact between the north-south
trending metasediments and mafic volcanic rocks, and includes parallel
foot wall and hanging wall gold mineralized zones.

A conceptual desktop study has been initiated to examine operating the
147 Zone as a combined open pit and underground mine and the Contact
Zone as an underground mine. It is envisioned that the Contact Zone will
be accessed by drifting approximately 250 m eastward from the existing
Gibson Deposit portal and ramp system. All future mining on the 147 and
Contact zones will be supported by the nearby Black Fox mine
infrastructure. As the first step in the permitting process,
hydrogeological studies and waste rock characterization test work in the
147 and Contact zone area began in September 2011. This area falls
within the ongoing environmental monitoring program associated with the
Black Fox mine operation.

2012 Black Fox Complex Surface Exploration
Drilling Program

Brigus has an $8.0 million surface exploration budget for 2012 and will
focus on an aggressive exploration program to expand the 147 and Contact
zones as well as convert the inferred resource to the indicated resource
category. An updated 147 and Contact zone mineral resource estimate will
be released in 2012.

Surface drilling will also test the potential of the Grey Fox South
Zone, the historic Gibson Deposit Zone and other areas of the Black Fox
Complex.

• 
  The Grey Fox South Zone was discovered in December 2010 with three
  drill holes that intersected up to 10.65 g/t gold over a core length
  of 6.0 m that included 23.32 g/t over 1.0 m.
  
• 
  The historic Gibson deposit underwent limited underground bulk
  sampling in the late 1980s returning a grade of 9.5 g/t gold from
  8,000 tonnes. The deposit was accessed via a ramp system and is
  developed on two levels. Brigus recently completed 20 drill holes to
  further test the deposit. Assay results are pending.
  
• 
  Approximately 200 m to the north of the Contact Zone, hole GF11-337
  was released in November 2011 and intersected 3.59 g/t of gold over a
  core length of 9.00 m, that included 10.63 g/t gold over 1.00 m. Assay
  results are pending for an additional five drill holes over a 50 m
  strike length near this hole.
  

The Black Fox gold mine is hosted by the Destor Porcupine Fault Zone.
Brigus′ Black Fox Complex covers approximately six km of the productive
gold mineralized trend all of which represents an attractive exploration
target. In addition, Brigus′ exploration program will test several Titan
24 Deep Induced Polarization (IP) and Magnetotellurics (MT) geophysical
survey anomalies completed in 2010. The survey identified at least 35
geophysical anomalies with the potential for gold mineralization from
near surface to more than 1,500 m depth. Twelve IP anomalous zones have
been classified as first priority for drilling, and 14 as second
priority targets. Nine MT resistivity-low anomalous zones have been
delineated from 700 m to more than 1,500 m depth and may represent
mineralization, structures and/or alteration at depth for follow-up
evaluation.

2012 Black Fox Mine Underground Exploration
Program

The Black Fox underground mine exploration drilling program is expected
to begin in 2012. The program is intended to expand the Black Fox gold
deposit along strike and down-dip. The program is designed to offset
drill results from the 2004 underground fan drilling program from the
last southeast drill station located at the end of the 235 m level
exploration drift. This drilling returned significant true width gold
results including 31.16 g/t over 6.25m (hole 235-296) and 7.48 g/t over
3.49 m (hole 235-295).

Qualified Persons and Technical Report

The mineral resource estimates announced in this release, with an
effective date of December 14, 2011 were prepared by Mr. Tim Maunula,
P.Geo., of Wardrop, A Tetra Tech Company (Tetra Tech) of Toronto,
Ontario, an Independent Qualified Person ('QP'), as defined by National
Instrument 43-101. Mr. Tim Maunula and Senior Exploration Project
Manager Mr. John A. Dixon, P. Geo., reviewed the technical exploration
information in this release. Mr. Dixon is the Qualified Person for the
Company.

Tetra Tech is preparing a NI 43-101 Technical Report in support of the
mineral resource estimate. This report will be filed by Brigus in its
entirety on SEDAR (www.sedar.com)
within 45 days of the date of this news release, and the report will
also be available on Brigus′ website at www.brigusgold.com.

All sample analyses were performed by Polymet Labs of Cobalt, Ontario,
SGS Laboratories of Sudbury, Ontario and Swastika Laboratories of
Swastika, Ontario using standard fire assay procedures. Brigus Gold′s
quality control checks include insertion of blanks, standards and
duplicates to ensure laboratory accuracy.

About Brigus

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, all
in the Township of Black River - Matheson, Ontario, Canada. Brigus is
also advancing its Goldfields Project located near Uranium City,
Saskatchewan, Canada, which hosts the Box and Athona gold deposits. In
Mexico, Brigus Gold has completed its transaction to sell a 75% interest
in the Ixhuatan Project located in the state of Chiapas to Cangold. In
the Dominican Republic, Brigus has signed an agreement to sell its
remaining interests to Everton Resources.

Cautionary Note to U.S. Investors Concerning
Estimates of Indicated and Inferred Resources

This news release uses the term 'indicated resources? and 'inferred
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. The estimation of indicated and
inferred resources involves greater uncertainty as to their existence
and economic feasibility or viability than the estimation of proven and
probable reserves. U.S. investors are cautioned not to assume that any
part or all of mineral resources in these categories will ever be
converted into reserves or that estimates of inferred resources exist,
are economically minable, or will be upgraded into measured or indicated
mineral resources.

Cautionary and Forward-Looking Statements

Statements 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 Company's ability to successfully expand the Black Fox
Complex gold resource, add to Black Fox resources, advance new
discoveries to production, convert resource estimates into near-term
production, release of an updated mineral resource estimate in 2012 and
the Black Fox underground mine exploration drilling program and continue
to obtain positive down dip continuity of significant gold
mineralization are forward-looking statements and estimates that involve
various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate 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 environmental
risks and other factors disclosed under the heading 'Risk Factors? in
Brigus Gold′s 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
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.

Jennifer Nicholson, CA

Vice President
Investor Relations

(902) 422-1421

jnicholson@brigusgold.com

or

Katherine
Burgess

Manager, Stakeholder Relations

(902) 422-1421

kburgess@brigusgold.com