Brigus Gold Reports Q3 Financial Results

Brigus Gold Corp. ('Brigus? or the 'Company?)(NYSE MKT: BRD) (TSX: BRD)
announces results for the third quarter ('Q3-12?) of 2012.

This press release should be read in conjunction with the Company′s
September 30, 2012 condensed consolidated interim financial statements
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.

Third Quarter 2012 Financial Highlights

• 
  Sold 19,064 ounces of gold, a 4% increase over the 18,419 ounces sold
  in Q2-12 and an 11% increase over the 17,119 ounces sold in Q3-11.
  

• 
  Reduced cash costs to $728 per ounce, a 10% decrease in cash costs
  from Q3-11, which totalled $807 per ounce and a 9% decrease in cash
  costs in Q2-12, which were $799 per ounce.
  

• 
  Generated cash flow from operations, before working capital
  adjustments, of $12.5M, compared to $10.5M in the same period in 2011.
  

• 
  Increased operating margin by 2% to $855 per ounce, compared to $836
  per ounce in Q3-11.
  

• 
  Generated positive income from operations of $5.9M, compared to $2.6M
  in Q3-11.
  

• 
  Brigus completed the sale of the Calais Notes to New West Capital for
  total proceeds of $6M.
  

Consolidated Financial Results

Third Quarter 2012 Operational Highlights

• 
  Produced 19,526 ounces of gold, a 7% increase over Q2-12 production of
  18,254 ounces and a 16% increase over Q3-11 production of 16,838
  ounces.
  
• 
  The underground average gold grade in the third quarter was 6.00 grams
  per tonne (gpt).
  
• 
  The open pit mined 217,118 ore tonnes at an average grade of 2.13 gpt,
  a 22% increase over the ore tonnes mined in Q3-11.
  
• 
  The Black Fox Mill processed 190,879 tonnes of ore at an average grade
  of 3.34 gpt and an average recovery of 95%, compared to 189,674 tonnes
  at an average grade of 2.93 gpt and an average recovery of 94% in
  Q3-11.
  
• 
  Brigus released a National Instrument 43-101 report which increased
  the Indicated gold resource at the Company′s Grey Fox property from
  116,710 to 480,850 ounces. This resource offers a near term production
  opportunity for Brigus and remains open for expansion.
  
• 
  Late in the quarter, the Company began mining a large long-hole stope
  in the West zone of the underground mine. This stope will provide 400
  to 500 tonnes of ore per day once fully operational in Q1-13.
  
• 
  The Company continued to report excellent exploration results from the
  147 and Contact zones and reported the discovery of a new zone named
  the Grey Fox South Zone.
  
• 
  Subsequent to the quarter, the mill optimization program was completed
  and resulted in increased mill processing capacity of approximately
  10% to 2,200 tpd.
  
• 
  Subsequent to the quarter, the Company completed a $10M Flow Through
  financing to fund Brigus′ 2013 exploration program.
  
• 
  Subsequent to the quarter, the Company completed a bought deal debt
  financing for $30M in senior secured notes, the proceeds of which were
  used to repurchase 4% of a goldstream with Sandstorm Gold Ltd.
  
• 
  Early in the quarter, Daniel Racine, a well-respected mining engineer
  with over 25 years of experience, joined the Brigus team as Chief
  Operating Officer.
  
• 
  Marc Bilodeau was promoted from General Mine Manager to Vice President
  Operations. Marc′s hard work and leadership have resulted in
  significant operational improvements at the Black Fox Mine over the
  past year.
  

Results from Operations

'We are pleased with continued financial and operational improvements at
the Black Fox Mine during quarter three,? said Wade Dawe, Brigus′
President and Chief Executive Officer. 'Gold production from the
underground mine continues to ramp up and per ounce production costs are
trending lower. We have a strong operational team in place to build on
our successes at the Black Fox Mine, while implementing a plan to
develop the Grey Fox Mine. We are confident that quarter four will be
our best quarter to date and we look forward to the future with
optimism.?

Outlook

Operations at the Black Fox Mine continue to ramp up and the Company is
on track to meet its forecasted 2012 gold production of 77,000 to 85,000
ounces, at a per ounce cash cost of $775 - $825.

An underground exploration program at the Black Fox Mine commenced in
June of this year. Drilling is being performed with two drill rigs from
a new exploration drift at the 9670 metre level on the East side of the
mine, and has returned excellent gold grades over significant widths.
The objective of the drilling program is to extend the Black Fox orebody
and increase the current gold resource at the mine.

Planning is underway to develop the Grey Fox Mine located on the
southeast portion of the Black Fox Complex. The Company currently has
four drills working at the Grey Fox property. Over the past two years
exploration at Grey Fox has been very successful with the definition of
a new 571,000 ounce resource including 480,850 ounces in the Indicated
category from the Contact and 147 zones, and the recent announcement of
a new discovery named the Grey Fox South Zone. All three zones remain
open for expansion.

Initial engineering studies on the Grey Fox Mine have been initiated and
will continue through 2012 to determine project economics as well as
development and production timelines. The Company had initially planned
to release a Preliminary Economic Assessment for Grey Fox in the fourth
quarter of this year. Due to positive results from the on-going drill
program, the Company has decided that a full feasibility on a larger
gold resource is appropriate and will be beneficial. This study will
incorporate the current resource as well as results from deeper in-fill
drilling which will define a resource suitable for underground mining.
The feasibility study for Grey Fox will be released in 2013.

Third Quarter Webcast and Conference Call

A webcast and conference call will be held Tuesday, November 13, 2012 at
12 noon Atlantic time (11:00 a.m. Eastern time).

To attend by webcast please visit the Company website, www.brigusgold.com.

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 Canadian 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, the new Grey Fox property and adjoining properties in
the Township of Black River-Matheson, Ontario, Canada. The Black Fox
Mine is in production and the Grey Fox Mine, located four kilometres
from Black Fox is in development. Brigus is also advancing the
Goldfields Project located near Uranium City, Saskatchewan, Canada,
which hosts the Box and Athona gold deposits. In Mexico, Brigus owns the
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; 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

Executive Vice
President

Phone: (902) 442-7186

jnicholson@brigusgold.com

or

Kate
Wood

Manager, Investor Relations

Phone: (902) 442-7184

kwood@brigusgold.com