Brigus Gold Reports 2011 Financial Results

Brigus Gold Corp. ('Brigus? or the 'Company?)(NYSE Amex: BRD; TSX: BRD)
announces results for the fourth quarter ('Q4-11?) and year ended
December 31, 2011.

This press release should be read in conjunction with the Company′s
consolidated financial statements for the years ended December 31, 2011
and December 31, 2010 and associated Management′s Discussion and
Analysis ('MD&A?), which are available from the Company's website, www.brigusgold.com
and on SEDAR (www.sedar.com).
All dollar amounts are expressed in US dollars unless otherwise
specified. All financial results are presented in accordance with
International Financial Reporting Standards ('IFRS?).

Key milestones achieved during the year include commencement of
commercial production in both the Phase 2 open pit and underground mine
and the discovery of a new resource at the Company′s Black Fox Complex
near Timmins, Ontario.

2011 and Fourth Quarter Financial Highlights

• Gold sales in 2011 totalled 57,001 ounces at an average
  realized price of $1,533 per ounce. During Q4-11, total gold sales
  were 14,702 ounces of gold at an average realized price of $1,599 per
  ounce.
• Cash flow from operations was $19.1 million for 2011 and $9.2
  million for Q4-11.
• 
  Recognized net income of $15.8 million and earnings per share of $0.08
  for 2011 and recognized net income of $2.2 million and earnings per
  share of $0.01 for Q4-11.
  
• 
  Completed an $8.2 million flow-through share financing to fund ongoing
  Canadian exploration and development activities in December 2011 and
  raised $50.0 million from the issuance of senior unsecured convertible
  debentures in March 2011.
  
• 
  Cash costs per ounce were $958 for the year ended December 31, 2011
  and $1,066 for Q4-11.
  
• 
  Capital expenditures for 2011 were $53.7 million and were $14.5
  million in Q4-11. Capital expenditures include underground
  development, open pit capital stripping, mill expansion and mine
  equipment.
  
• 
  Exploration and development expenditures totalled $14.0 million for
  2011, including $11.0 million related to the Black Fox Complex and
  $3.0 million related to the Goldfields Project. During Q4-11,
  exploration and development expenditures totalled $3.4 million,
  including $3.2 million related to the Black Fox Complex and $0.2
  million related to the Goldfields Project.
  

(1)Total cash cost per ounce gold of sold is a non-GAAP
measure and is not necessarily comparable to similar titled measures of
other companies due to potential inconsistencies in the method of
calculation. Refer to the table under the section 'Reconciliation of
Cash Costs per Ounce? for a calculation of cash costs per ounce of gold.

2011 and Fourth Quarter Operational Highlights

• 
  Produced 55,756 ounces of gold in 2011 and 14,457 in Q4-11.
  
• 
  Processed 725,541 tonnes of ore at an average grade of 2.54 grams of
  gold per tonne and an average recovery of 94.2% in 2011 and 175,150
  tonnes of ore at an average grade of 2.66 grams of gold per tonne and
  an average recovery of 97% in Q4-11.
  
• 
  Mill throughput averaged 1,988 tonnes per day ('tpd?) in 2011 and
  1,904 tpd in Q4-11. The mill performed well with low downtime and high
  recoveries throughout the year.
  
• 
  Phase 2 of the open pit mine reached commercial production in April
  2011 and is operating according to plan.
  
• 
  Reported results from an independent Technical Report on 100% owned
  Goldfields development project. The pre-feasibility study indicates a
  Net Present Value of $144.3 million at a 5% discount rate with an
  internal rate of return of 19.6% based on a gold price of $1,250 per
  ounce.
  
• 
  Released an initial NI 43-101 compliant, independent mineral resource
  estimate for the 147 and Contact zones on the Black Fox Complex
  resulting in more than a 50% increase in Black Fox Complex Resources.
  
• 
  Signed a definitive option agreement providing Cangold Ltd. with the
  option to acquire a 75% interest in the Ixhuatán Gold Project.
  
• 
  Achieved underground commercial production in October 2011 with
  production continuing to ramp up through 2012.
  
• 
  Commenced Phase 1 of the Black Fox Mill optimization, which is
  expected to increase processing capacity by 5-10%, to up to 2,200 tpd,
  by mid-2012.
  

'2011 was a challenging year as we ramped up production from Black Fox′s
Phase 2 open pit and initiated production from the underground mine,?
said Wade Dawe, President and CEO of Brigus.? 'While open pit operations
performed in accordance with our plan, we had to address a number of
issues related to the development and ramp up of the underground mine.
We made operational changes in December and January to address
shortcomings at the mine and as a result we are now seeing consistent
increases in gold production and much higher grades from the
underground. With grades from the underground now meeting expectations
and daily production tonnage building, gold production rates are
increasing and we look forward to a solid year ahead in 2012.?

OUTLOOK

Brigus is on track to hit first quarter guidance and is forecasting full
year gold production of 77,000 to 85,000 ounces for 2012 as previously
released:

Beginning in late 2011, Brigus implemented significant changes to
personnel, equipment and mining processes resulting in material
improvements for the Company most notably in the underground operation.
In the first 75 days of 2012, Brigus delivered average grades of 5.96
grams per tonne ('gpt?) compared to 2.99 gpt in Q4-11.

High-grade tonnage from the underground continues to steadily increase
and averaged over 400 tonnes per day (tpd) in the first half of March.
Brigus expects to reach 800 tpd in the third quarter of 2012 by adding
10 mining stopes to the 20 stopes that are now in place. The additional
stopes will provide greater flexibility and enable Brigus to actively
mine 10-12 stopes at all times.

Cash costs are targeted at $775 - $825 per ounce for the year, declining
to approximately $700 per ounce at steady state production levels of
104,000 ounces per year in 2013.

Planning is underway to develop the 147 and Contact zones located on the
southeast portion of the Black Fox Complex. The initial resource
estimate for these zones, announced in December 2011, added more than 50
percent to the gold resource at the Black Fox Complex. Brigus plans to
expand the resource and convert Inferred ounces to Indicated ounces
through systematic in?fill drilling. An updated resource estimate will
be released later in the year. Initial engineering studies have also
been initiated and will be continued through 2012 to determine project
economics as well as development and production timelines.

To date, the Company has explored approximately 25 percent of the Black
Fox Complex. Significant upside potential remains on the property, which
covers an area of approximately 18 square kilometres within the Timmins
Mining District of Ontario.

FOURTH QUARTER WEBCAST AND CONFERENCE CALL

A webcast and conference call will be held today, Thursday, March 29, at
12 noon Atlantic time (11:00 a.m. Eastern time).

To attend by webcast http://www.investorcalendar.com/IC/CEPage.asp?ID=167747.

To attend by phone, dial toll free 1-877-407-8133 (international
201-689-8040) at least 10 minutes prior to the start of the call. No
pass code is required.

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 has granted Cangold Limited the option to acquire a 75%
interest in the Company′s Ixhuatan Project located in the state of
Chiapas. In the Dominican Republic, Brigus has signed an agreement to
sell its remaining interests in three mineral exploration projects.

Cautionary Note to U.S. Investors Concerning Estimates of Mineral
Resources

This news release uses the term mineral '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. U.S. investors are cautioned not to assume that any
part or all of mineral deposits in these categories will ever be
converted into reserves.

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 achieve its
production, total cash costs, steady state annual production and mining
rate estimates; estimated average gold grades for the open pit and
underground operations; increase in gold production; increase in
profitability; exploration drill results and resource additions, are
forward-looking statements and estimates that involve various risks and
uncertainties. This forward-looking statements include, 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′ 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
as well as elsewhere in Brigus′ 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.

Jennifer Nicholson, CA, 902-442-7186

Executive
Vice President

jnicholson@brigusgold.com

or

Katherine
Burgess, 902-442-7184

Manager, Stakeholder Relations

kburgess@brigusgold.com