Brigus Gold Completes Sale of Calais Notes
Brigus Gold Corp. (NYSE MKT: BRD; TSX: BRD) ('Brigus? or the 'Company?)
has received the final payment of USD $4.5 million from New West Capital
to complete the sale of the Calais Notes ('Notes?) as announced on May
7, 2012 for total proceeds of USD $6 million.
Brigus acquired the Notes as consideration when the Company sold a
non-core asset in 2010 and were originally valued and recorded at $3.4
million. When combining the $1.2 million that was repaid in 2011 from
Calais Resources Inc. with the proceeds from this sale, the Company
received a total of $7.2 million in cash for the Notes.
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 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 40F 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
Executive Vice
President
Phone: (902) 442-7186
Email: jnicholson@brigusgold.com
or
Katherine
Burgess
Manager, Stakeholder Relations
Phone: (902) 442-7184
Email:
kburgess@brigusgold.com