A Letter from Brigus Gold′s Chairman and Chief Executive Officer

(NYSE MKT: BRD; TSX: BRD)

Dear Fellow Shareholders:

With 2012 coming to an end, I wanted to take this opportunity to share
with you our successes, challenges, and plans.

Over the course of the past year, the Brigus team worked diligently to
strengthen the Company and we are well positioned for growth. We have
the right people in place, a rich ore body at our Black Fox mine and
tremendous exploration potential at the Black Fox Complex. Gold
production increased every quarter in 2012, a trend that will continue
into 2013 as we reach annual steady state production levels of 90,000 to
100,000 ounces.

Increasing Gold Reserves and Resources through Targeted Exploration

For the first time since 2007, we are conducting underground exploration
drilling at the Black Fox mine. The drill program, which began in June
of this year, is exploring below the 500-metre level since ore bodies in
the region often extend to depths of more than 1,000 metres. We have two
rigs working from a new exploration drift on the East side of the
underground mine. Initial results show excellent gold grades over
significant widths. We are encouraged by these results and believe the
ongoing drill program will extend the Black Fox ore body to deeper
levels, increasing the known gold resource at the mine and the life of
Black Fox.

Over the past two years, Brigus has also led a very successful
exploration program on the southeast portion of the Black Fox Complex.
The Company discovered three mineral zones in this area: 147, Contact
and Grey Fox South. The new mineral resource estimate released in
September for the 147 and Contact zones defined a resource of 571,000
ounces, including 480,850 ounces in the indicated category. The recently
discovered Grey Fox South Zone is in its early stages but is already
showing great potential to significantly increase the Company′s gold
resources.

As exploration continues, we are confident these three zones will
ultimately host more than one million ounces of gold. We will capitalize
on our exploration success by taking steps next year to develop these
discoveries into the Company′s next mine which we′ll be calling Grey Fox.

The Black Fox Mill and Stock Mine Property

Thanks to the Black Fox mill enhancement, processing capacity increased
by 10 percent to 2,200 tonnes per day. To accommodate future production
from Grey Fox in 2015, the Company will require additional mill
capacity. We have recently undertaken a study to evaluate the potential
of adding a SAG mill which would expand ore processing capacity to
3,500-4000 tonnes per day.

The property hosting the Company′s mill is located approximately 30
kilometres from the Black Fox mine and is home to the previously
producing Stock Mine. As recently as 2003, the Stock Mine produced
between 400 and 500 tonnes of ore per day. We are currently reviewing
historical data, production records and geological information to
determine the economic merits of refurbishing and reopening the Stock
Mine. We will be releasing our preliminary findings during the first
half of 2013.

Goldfields

Our Goldfields property in Saskatchewan remains a core asset for Brigus.
This property hosts over one million ounces of gold reserves and has an
estimated mine life of 13 years. The project has a proposed annual gold
production of 100,000 ounces over the first seven years. The mine is
permitted and will require a two-year construction period once a
production decision is made. The pre-feasibility study indicated a net
present value of approximately $144 million using a five percent
discount rate; it provides an internal rate of return of 19.6 percent,
assuming a gold price of $1,250 per ounce. At gold prices of $1,500 per
ounce, Goldfields returns a net present value of over $300 million.

While Goldfields remains a key and valuable development asset for the
Company, Brigus will first focus on the development of Grey Fox due to
its proximity to the Black Fox mine infrastructure and its potential to
significantly increase the Company′s reserves.

Brigus′ Strengthening Financial Position

In October, the Company secured $30 million in debt financing. We used
$24.4 million of the proceeds to repurchase four percent of the gold
stream, thereby reducing the gold stream to eight percent where it will
remain. By repurchasing the gold stream, the Company is capitalizing on
an immediate and advantageous increase in cash flow.

In 2013, Brigus will fund Black Fox and Grey Fox operations with cash
flows generated internally. Mining operations will continue to be
profitable as gold production increases and reaches steady state levels.
Cash costs are anticipated to stabilize in the range of $700 - $750 per
ounce.

While 2012 has been a challenging year for gold equities, we are
optimistic 2013 will be more positive for the sector. For Brigus, we
believe strengthening gold prices paired with increasing production at
Black Fox will enhance shareholder value. Recently Canaccord Genuity and
Paradigm Capital initiated market coverage on Brigus. Both analysts
published positive reports and Brigus is now actively covered by seven
analysts.

The Team

I′m delighted that Daniel Racine has accepted the position of President
and Chief Operating Officer of Brigus. Daniel has an excellent
reputation in the industry and has demonstrated strong leadership and
operational abilities as our Chief Operating Officer. I am confident he
will excel in his new role. I look forward to working with Daniel and
the rest of the executive team as we drive to add value through
increased production, targeted exploration, growing cash flows and
profitability.

I′m very proud of our team at Brigus for continuing to make safety a top
priority. To date the team has worked over 2.4 million hours without a
lost time injury. I would also like to acknowledge their dedication,
hard work and commitment to the Company.

And to you, our shareholders, thank you for your continued support
during the year. On behalf of the team at Brigus Gold, I would like to
wish you and your families a safe and enjoyable holiday season and the
very best for 2013.

Sincerely,

Wade K. Dawe

Chairman and CEO

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

Kate Wood, (902) 442-7184

Manager, Investor
Relations

kwood@brigusgold.com