Gold production up at Brigus Gold's Black Fox Mine.

Brigus Gold Exceeds Q1 Production Target9:15AM ET on Monday Apr 08, 2013 by Business Wire
Brigus Gold Corporation ("Brigus" or the "Company")(NYSE MKT: BRD; TSX: BRD) is pleased to announce record production levels of 26,316 gold ounces in the first quarter of 2013.

"Operationally Brigus has never been stronger," said Daniel Racine, Brigus' President and Chief Operating Officer. "Much of our production success can be attributed to the underground gold grades which continued to exceed reserve grades during the quarter."

      Operating Results        First Quarter   Change  Fourth Quarter   Change
                             -----------------         --------------
                               2013     2012                2012
---------------------------  -------  -------  ------  --------------  -------
Tonnes milled                183,819  180,965   2,854         185,727  (1,908)
---------------------------  -------  -------  ------  --------------  -------
Tonnes per day                 2,042    1,989      53           2,019       23
---------------------------  -------  -------  ------  --------------  -------
Average recovery (%)              94       96     (2)              94        -
---------------------------  -------  -------  ------  --------------  -------
Average grade (gpt)             4.74     3.04    1.70            4.04     0.70
---------------------------  -------  -------  ------  --------------  -------
Gold production (ounces)      26,316   16,922   9,394          22,672    3,644
---------------------------  -------  -------  ------  --------------  -------
Gold sold (ounces)            27,818   16,033  11,785          20,175    7,643
---------------------------  -------  -------  ------  --------------  -------
Gold price (US$/ ounce) (1)   $1,626   $1,687   $(61)          $1,712    $(86)
---------------------------  -------  -------  ------  --------------  -------

(1) Excludes the impact of sales under the Goldstream agreement

Brigus Gold produced a total of 26,316 gold ounces in Q1 2013, a 16 percent increase from the 22,672 ounces produced in the fourth quarter of 2012 and a 56 percent increase over the same period in 2012.

The Black Fox mill processed 183,819 tonnes of ore at an average grade of 4.74 grams of gold per tonne and an average recovery of 94 percent in the quarter. Throughput averaged 2,042 tonnes per day.
The Company will release complete first quarter financial and operational results on May 14, 2013.
2013 Outlook In 2013, Brigus will fund Black Fox and Grey Fox operations with internally generated cash flows. Brigus' production guidance for 2013 is 90,000 to 100,000 ounces and cash costs are anticipated to be in the range of $700 - $750 per ounce.

Capital costs for 2013 are forecasted as follows; $16 million (M) for underground sustaining capital, $6M for development capital relating to the underground, $13M for open pit capital stripping and overburden removal, $6M for property plant, equipment and other capital items, $2.5M for underground exploration, and $12M for development of the Grey Fox Mine and exploration on the Black Fox Complex.

The Company remains focused on increasing gold resources at Grey Fox and at the Black Fox underground mine through targeted exploration drilling which will continue throughout the year.

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 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 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; 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.


SOURCE: Brigus Gold Corporation

Brigus Gold Corporation 
Kate Wood, (902) 442-7184 
Manager, Investor Relations 
kwood@brigusgold.com

Brigus Gold Reports Q3 Production and Goldstream Repurchase

 (bwire)

HALIFAX, Nova Scotia (Business Wire) -- Brigus Gold Corp. (BRD-TSX) (“Brigus” or the “Company”) produced 19,526 gold ounces in the third quarter of 2012 – an increase of 7 percent over second quarter production of 18,254 ounces.
The Company is also pleased to announce that it has secured $30 million in debt financing. $26.4 million of the debt proceeds will be used to repurchase 4 percent of the existing 12 percent goldstream with Sandstorm Gold Ltd. (“Sandstorm”). The debt financing was arranged by Casimir Capital and a finance structure fee is payable in exchange for Casimir's services.

Under the agreement with Sandstorm, the Company may repurchase up to 6 percent of the goldstream until January 1, 2013. Brigus will make a decision on the remaining 2 percent prior to the end of the year.
“We are pleased with the growth in gold production at Black Fox during the third quarter.” said Wade Dawe, Brigus' President and CEO. “Gold production continues to increase quarter over quarter as expected. Brigus' repurchase of the goldstream is an accretive transaction providing an immediate and advantageous increase in cash flow."

Production from the underground portion of the Black Fox mine is steadily increasing as crews develop and access larger ore zones at depth.

The open pit continues to perform as expected. Phase 3 overburden removal has commenced and production from Phase 3 is scheduled to begin in 2013.

The mill processed 190,879 tonnes of ore at an average grade of 3.34 grams of gold per tonne and an average recovery of 95.1 percent in the quarter. Throughput averaged 2,075 tonnes per day.

		Ounces Produced		Average Grade
Q1		16,922		3.04
Q2		18,254		3.30
Q3		19,526		3.34
Total		54,702		3.23

OUTLOOK
Brigus continues to forecast full year gold production of 77,000 to 85,000 ounces for 2012:

2012		Low		High		Actual
Q1		15,500		17,000		16,922
Q2		18,000		21,000		18,254
Q3		21,500		23,000		19,526
Q4		22,000		24,000
Total		77,000		85,000

Cash costs are targeted at $775-$825 per ounce for the year, declining to approximately $700 per ounce by the end of 2012.

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 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
Jennifer Nicholson, CA, 902-442-7186
Executive Vice President
jnicholson@brigusgold.com
or
Kate Wood, 902-442-7184
Manager, Stakeholder Relations
kwood@brigusgold.com

Related articles

• Brigus Gold Makes New High-Grade Gold Discovery
• Brigus Gold Reports 480,850 Indicated Ounces in New Grey Fox Resource (bwire)
• Brigus Gold - 147 Zone shows more high grade gold deposits
• CEO of Brigus Gold happy with Q2 results.
• Black Fox, Grey Fox - Brigus Gold CEO Wade Dawe talks Timmins production and expansion
• This Miner Deserves to Be on Your Radar

Brigus Gold production doubles; sees higher 2012 output

UPDATE

 3 hours ago by Thomson Reuters

NYSE: BRD 

TSE: BRD
 

 April 24 (Reuters) - Brigus Gold Corp's quarterly production nearly doubled and the gold miner said it expects a rise in full-year output as the development of its Black Fox underground mine in Ontario speeds up.
The company forecast output of 77,000 to 85,000 ounces of gold for 2012, up from 55,756 ounces in 2011.
Production rose to 16,922 ounces of gold for the first quarter from 8,500 ounce a year ago.

The company, which had been facing delays in the development of its main Black Fox mine due to staffing and equipment issues, said it expects production to increase from the mine throughout the year and reach 25,000 ounces per quarter by the year-end.

The company's shares closed at 80 Canadian cents on Monday on the Toronto Stock Exchange.

Related articles

• Brigus Gold Reports 5.95 Grams Per Tonne Gold over 56.7 Metres from the 147 Zone on the Black Fox Complex (retirefunds.blogspot.com)
• Brigus Gold Reports Continued Progress at Black Fox Gold Mine. (retirefunds.blogspot.com)
• Will Brigus Gold Shine in 2012? (fool.com)

Brigus Gold Reports 5.95 Grams Per Tonne Gold over 56.7 Metres from the 147 Zone on the Black Fox Complex

Tuesday Apr 17, 2012 by Business WireBrigus Gold Corp. ("Brigus" or the "Company") (NYSE Amex: BRD; TSX: BRD) is pleased to announce that exploration drilling on the southern portion of the Black Fox Complex continues to return high-grade gold assays from the 147 Zone. 

The following table includes highlights from the drill holes reported today from the 147 Zone (all uncut, average gold grades over core length widths):

Hole Number   From      To      Core    Gold Assay
                (m)      (m)     Width   grams/tonne
                                  (m)
-----------   ------   ------   -----   -----------
  GF11-286     61.60    64.60    3.00       8.92
-----------   ------   ------   -----   -----------
  including    63.60    64.60    1.00       25.10
-----------   ------   ------   -----   -----------
  GF11-348    256.00   263.00    7.00       3.92
-----------   ------   ------   -----   -----------
  including   259.00   262.00    3.00       7.81
-----------   ------   ------   -----   -----------
              310.25   313.00    2.75       15.98
              ------   ------   -----   -----------
  including   311.25   312.10    0.85       43.71
-----------   ------   ------   -----   -----------
  GF12-412     52.00    66.00    14.00      1.58
-----------   ------   ------   -----   -----------
               93.00   103.00    10.00      27.78
              ------   ------   -----   -----------
  including    95.00   101.00    6.00       45.17
-----------   ------   ------   -----   -----------
  GF12-415     47.00   103.70    56.70      5.95
-----------   ------   ------   -----   -----------
  including    74.00    92.00    18.00      7.97
-----------   ------   ------   -----   -----------
     and       97.00   100.00    3.00       38.10
-----------   ------   ------   -----   -----------

"The ongoing drill program on the 147 Zone continues to deliver impressive results that expand and further confirm the continuity of this high grade gold zone," said Howard Bird, Brigus VP Exploration. "The near surface intercepts in drill holes GF12-412 and 415 are located within the conceptual open-pit design. Brigus recently commenced work to complete a preliminary economic assessment on both the 147 and Contact zones. The results of this study will be released in the third quarter along with an updated resource statement."
The initial resource estimate for the 147 and Contact zones, as released in December 2011, added more than 50 percent to the gold resource at the Black Fox Complex. 

The 147 and Contact zones provide Brigus with near term production growth opportunities due to their close proximity to the existing Black Fox Mine infrastructure.

To date, the Company has systematically explored 25 percent of the property and significant upside potential remains on the rest of the property. The Black Fox Complex covers an area of approximately 18 square kilometres within the Timmins Mining District, Ontario. The core area of the 147 Zone extends for approximately 250 m in a north-south direction dipping at approximately 80 degrees to the east. Gold mineralization primarily occurs within multiple quartz carbonate brecciated zones within bleached units of variolitic mafic volcanics and other parallel footwall zones.

Details of the most recent 147 Zone drill holes and the 147 Zone drill-hole location map is on the Company's website at www.brigusgold.com.Surface drilling was conducted by Norex Drilling and was supervised by the Brigus exploration team. All sample analyses reported herein were performed by Polymet Labs of Cobalt, Ontario, which is ISO 9001:2000 certified in North America using standard fire assay procedures. Intercepts cited do not necessarily represent true widths, unless otherwise noted. Brigus Gold's quality control checks include insertion of blanks, standards and duplicates to ensure laboratory accuracy. Senior Exploration Project Manager John A. Dixon, P. Geo., reviewed the technical exploration information in this release as the Qualified Person for the Company.

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 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.
SOURCE: Brigus Gold Corp.

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

Related articles

• Brigus Gold Digging Its Way Out of the Hole (dailyfinance.com)
• Brigus Gold reports significant upside to 147 zone at Black Fox Mine! (retirefunds.blogspot.com)

Brigus Gold reports significant upside to 147 zone at Black Fox Mine!

Brigus Gold Corp. ("Brigus" or the "Company") (NYSE Amex: BRD; TSX: BRD) is pleased to announce that exploration drilling on the southern portion of the Black Fox Complex continues to return high-grade gold assays from the 147 Zone. 

The following table includes highlights from the drill holes reported today from the 147 Zone (all uncut, average gold grades over core length widths):

Hole Number    Zone Core    Gold Assay
                  Width
               ---------    -----------
                   (m)       grams/tonne
               ---------    -----------
GF11-299          11.00         10.27
-----------    ---------    -----------
including         6.00          17.24
-----------    ---------    -----------
                  10.00         3.24
               ---------    -----------
including         4.00          6.69
-----------    ---------    -----------
GF11-308          1.00          27.22
-----------    ---------    -----------
                  16.00         2.83
               ---------    -----------
including         1.50          5.42
-----------    ---------    -----------
and               2.00          10.77
-----------    ---------    -----------
                  13.00         1.15
               ---------    -----------
GF11-323          12.00         9.11
-----------    ---------    -----------
including         7.00          14.15
-----------    ---------    -----------
and               1.00          49.89
-----------    ---------    -----------
GF11-338          20.60         3.45
-----------    ---------    -----------
including         2.60          5.73
-----------    ---------    -----------
and               5.08          7.09
-----------    ---------    -----------
GF11-377          5.50          5.03
-----------    ---------    -----------

"The Black Fox exploration program is advancing as planned and on schedule. To date, Brigus has drilled over 126,000 metres on the 147 and Contact zones with significant results that include 21 grams per tonne over 25.0 metres," said Howard Bird, Brigus' Vice President of Exploration. "The $8 million program in 2012 is designed to convert Inferred ounces to Indicated ounces through systematic in-fill drilling as well as to expand the resource."

The initial resource estimate for the 147 and Contact zones, as released in December 2011, added more than 50 percent to the gold resource at the Black Fox Complex. The 147 and Contact zones provide Brigus with near-term production growth opportunities because of their proximity to the Black Fox mine infrastructure. An updated resource estimate will be released later in the year.

To date, the Company has systematically explored 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, Ontario. The core area of the 147 Zone extends for approximately 250 m in a north-south direction dipping at approximately 80 degrees to the east. Gold mineralization primarily occurs within multiple quartz carbonate brecciated zones within bleached units of variolitic mafic volcanics and other parallel footwall zones.

Details on the most recent 147 Zone drill holes including the drill hole location map can be found on the Company's website at www.brigusgold.com.

Surface drilling was conducted by Norex Drilling and was supervised by the Brigus exploration team. All sample analyses reported herein were performed by Polymet Labs of Cobalt, Ontario, which is ISO 9001:2000 certified in North America using standard fire assay procedures. Intercepts cited do not necessarily represent true widths, unless otherwise noted. Brigus Gold's quality control checks include insertion of blanks, standards and duplicates to ensure laboratory accuracy. Senior Exploration Project Manager John A. Dixon, P. Geo., reviewed the technical exploration information in this release as the Qualified Person for the Company.

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 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 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 in three mineral exploration projects.

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.

SOURCE: Brigus Gold Corp.

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

Related articles

• Brigus Gold Corp Reports Additional High-Grade Gold Assays from the 147 Zone (retirefunds.blogspot.com)
• Brigus Gold Provides Operations Update Feb 21,2012 (retirefunds.blogspot.com)
• Dec 15-2011 - Brigus Gold raises resource estimate by 50% (retirefunds.blogspot.com)
• Brigus Gold Digging Its Way Out of the Hole (fool.com)

Brigus Gold Provides Operations Update Feb 21,2012

February 21, 2012 07:30 AM Eastern Time 

HALIFAX, Nova Scotia--(BUSINESS WIRE)--Brigus Gold Corp. (“Brigus” or the “Company”) (NYSE Amex: BRD; TSX: BRD) reports 2011 gold production statistics, including a review of the fourth quarter, and an update on the status of current operations. Management remains focused on increasing gold production at its Black Fox mine targeting steady state output of 25,000 ounces per quarter by year-end.

“Increasing production at Black Fox is our top priority and we are seeing results”

Operational Improvements:
Improvements continue to be made to mining processes and a number of key personnel changes were made at the Black Fox mine in December 2011 and January 2012. These changes have resulted in measurable improvements in the mine’s performance.

• A new mine General Manager, with over 30 years’ experience mining structurally controlled ore bodies, began working with Brigus in early December. He is focused on maximizing underground production and minimizing dilution.
• A new mine geology team, including a Chief Geologist, has been assembled and is making significant progress in improving the geologic model of the underground orebody.
• A new highly experienced Chief Engineer has been hired and will begin with the Company in early March, at which time the interim chief engineer will focus on the development of the 147 and Contact Zone deposits.
• Additional skilled miners have been hired to optimize mining from the underground operations.

Underground Mine:

• Grades from the underground mine have materially increased and continue to improve since the beginning of 2012. The average grade of underground ore mined for the first 45 days of 2012 was 5.79 grams per tonne (gpt) compared to 2.99 gpt for the fourth quarter of 2011 and has averaged 6.70 gpt during the first 15 days of February 2012.
• High-grade tonnes mined from the underground are trending upwards and are expected to reach 800 tonnes per day (tpd) in the third quarter. The mining team plans to open 30 mining stopes so that there are at least 10 to 12 stopes actively mining in ore at all times.

• A review of the mining equipment and fleet was undertaken. As a result, the Company sold surplus equipment and purchased appropriately sized equipment including several two and three yard scoops.

Open Pit:

• High-grade tonnage from the open pit will be maintained at an average of 1,000 to 1,200 tpd. Once high-grade tonnage from the underground has reached daily production rates of 800 tpd, limited amounts of low-grade open pit ore will be required to feed its 2,000 tpd capacity mill. The mill continues to operate well with strong recoveries of 92 to 95% and availability of over 90%.

Safety:

• The Black Fox Mine has a strong safety record with over a 1,000,000 man-hours without a lost time injury. This is an important milestone and the Company is very proud of this achievement.

Mine administration:

• Certain administration functions at the mine have been restructured to eliminate redundant positions, streamline processes and maximize utilization of all resources.
• General and Administration expenses at the mine site have been reduced through workforce reduction, renegotiation of contracts and tighter cost control.

“Increasing production at Black Fox is our top priority and we are seeing results,” said Wade Dawe, President and CEO of Brigus. “A number of improvements have been made at the underground mine to facilitate increased production going forward. The open pit is operating as expected, the mill is performing well and we are confident that on-going drilling will continue to expand the gold resource at the recently discovered 147 and Contact Zones. Ore grades from underground have significantly improved and high-grade tonnage from the underground is increasing.”
2011 Operations:

• The Black Fox Mine produced 14,457 ounces at an average grade of 2.66 gpt in the fourth quarter of 2011 and 55,756 ounces at an average grade of 2.54 gpt for the full year. Quarterly production met Brigus’ revised guidance but was lower than originally anticipated due to a slower ramp up of underground production and higher than expected dilution in the underground.
• The average grade of ore from the open pit was 2.03 gpt for the fourth quarter of 2011 and 2.56 gpt for the year. The open pit mine is performing as expected, delivering grades and tonnage as per the mine plan. Grades in the open pit are expected to increase later in 2012 as higher-grade ore is mined deeper in Phase 2 of the pit.
• The average grade from the underground mine was 2.99 gpt for the fourth quarter of 2011 and 3.82 gpt for the year.
• Cash cost per ounce was $947 for 2011. This is higher than anticipated due to lower production for the year. As production increases in 2012, cash costs are expected to decrease to approximately $700 by the end of the year

Underground Mining Statistics
Period				Average tpd				Average grade
Q4 2011				589				2.99
January 2012				278				5.36
February 1st to 15th 2012				274				6.70

• Historically, the Black Fox underground mine produced 211,000 ounces at an average grade of approximately 6.0 gpt over a four-year period from 1997 to 2001. Brigus’ geological modeling underground confirms the quality and grade of the ore body that has a reserve grade of 5.9 gpt as per the NI 43-101 report released January 2011

Looking Ahead:
Brigus is forecasting gold production of 77,000 to 85,000 ounces for 2012 as follows:

2012				Low				High
Q1				15,500				17,000
Q2				18,000				21,000
Q3				21,500				23,000
Q4				22,000				24,000
Total				77,000				85,000

Exploration:

• Brigus continues to report excellent exploration results at the Black Fox Complex. The Company released its initial NI 43-101 on the Contact and 147 Zone deposits on December 15, 2011 increasing the gold resource on the property by more than 50%. Brigus has an $8.0 million surface exploration budget for 2012. Ongoing exploration is focused on expanding the 147 and Contact Zones as well as converting the inferred resource to the indicated resource category. An updated mineral resource estimate will be released later in 2012.
• Underground exploration at the Black Fox mine is expected to begin in the second half of 2012. The program is intended to expand the 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).
• The independent 43-101 report on the Company’s Goldfields development project, located in northern Saskatchewan was updated in the fourth quarter of 2011. In October Brigus released a pre-feasibility study for Goldfields that indicated a net present value of approximately $144 million at a 5% discount rate with an internal rate of return of 19.6%. This assumes a gold price of $1,250 per ounce.
• Brigus remains focused on development activities at the Black Fox Mine and will make a production decision on Goldfields when Black Fox gold production rates are in excess of 25,000 ounces a quarter.
• Management is pleased with the Company’s progress to improve all facets of operations and is optimistic about 2012 performance.

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 Gold has completed a 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 in three mineral exploration projects.

Cautionary and Forward-Looking Statements
Statements contained in this news release that 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 targeted gold production at its Black Fox Mine, including underground production, and cash costs, are forward-looking statements and estimates that involve various risks and uncertainties. This forward-looking information includes, or may be based upon, estimates, forecasts, and statements as to management's expectations with respect to, among other things, 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 Gold’s most recent annual report on Form 40-K filed with the United States Securities and Exchange Commission and elsewhere in Brigus Gold’s 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.

Contacts

Brigus Gold Corp.
Jennifer Nicholson, CA, 902-442-7186
Vice President Investor Relations
jnicholson@brigusgold.com
or
Katherine Burgess, 902-442-7184
Manager, Stakeholder Relations
kburgess@brigusgold.com

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• Will Brigus Gold Shine in 2012? (fool.com)
• A New Year for Brigus Gold (dailyfinance.com)
• Dec 15-2011 - Brigus Gold raises resource estimate by 50% (retirefunds.blogspot.com)
• Brigus Gold Corp Reports Additional High-Grade Gold Assays from the 147 Zone (retirefunds.blogspot.com)

Brigus Gold Q3 production rises

Brigus Gold Corp

(TSE-BRD) (NASDAQ-BRD)

UPDATE 1-6 hours ago by Thomson Reuters

Oct 13 (Reuters) - Canada's Brigus Gold Corp said third-quarter gold production rose at its wholly-owned underground mine in Ontario. 

Gold production at the company's Black Fox underground mine, located near Timmins in Ontario, rose 7 percent to 16,838 ounces from 15,688 ounces in the last quarter. 

For the same period, the company processed 189,674 tonnes of gold at an average grade of 2.9 grams per tonne.
Mill throughput averaged 2,062 tonnes per day for the third quarter.
Shares of the company closed at C$1.14 on Wednesday on the Toronto Stock Exchange. (Reporting by Arnav Das Sharma in Bangalore; Editing by Saumyadeb Chakrabarty)



(Retirefund Notes: Insider reports show that company officers have been buying Brigus stock from Nov 2010 through October 7th, 2011.  There are no sells) 

Expert Analysis

Kerry Smith, Haywood Securities (7/28/11) "Brigus Gold Corp. rates a Sector Outperform with the release of assays from nine more holes, of which six holes returned significant assays in the recently named 147 Zone located 4 km. to the southeast of the Black Fox mine. . .the best hole (GF11-244) hit 20.11 g/t over a core width of 16m, including 34.06 g/t gold over 5m. . .assays continue a trend of high-grade results in many of the holes, with most of the assays returning 3m–4m widths grading 6–9 g/t gold. . .this zone continues to demonstrate a very high hit ratio with over 70% of the holes delivering ore-grade intercepts. So far this zone is showing reasonable down-dip continuity typical of the Timmins camp and we expect further positive results over the year as the company continues its planned 25,000m of drilling."

The Gold Report Interview with Mike Niehuser (7/6/11) "We also were on Brigus Gold's analyst day visiting their Black Fox gold mine and mill near Timmins, Ontario. Management has succeeded in eliminating the hedge book and reducing debt. Brigus has about $29M in cash and expects to produce over 73 Koz. of gold in 2011 at about $625/oz. As the company ramps up underground outputs with higher grades, production is expected to increase to over a 100 Koz. in 2012 and costs should drop. In addition to this scheduled upside in the near term, the area is known for deep underground gold mining. Brigus has had great exploration success near surface down the trend in the Contact and 147 Zone. Together, this indicates good potential to increase production and the life of the mine. Improving prospects in the near and midterm should lead to Brigus achieving an entirely new investment profile."

Kerry Smith, Haywood Securities (7/6/11) "Brigus Gold has released assays from six more holes, all with significant assays, in the newly named '147 Zone' located 4 km. to the southeast of the Black Fox mine: The best hole (GF11-206) hit 3.94 g/t over a core width of 24.2m, including 6.86 g/t over 11.8m. Assays, now to a vertical depth of 240m in hole GF11-206, continue a trend of high-grade results in many of the holes."

Kerry Smith, Haywood Securities (6/21/11) "In Q111, Brigus Gold produced 8,772 oz. Au (in line with our model) at a cash operating cost of US$1,097/oz. (lower than our estimate); as previously noted, Black Fox had a difficult Q111, as ore from the Phase II open pit was not available to feed the mill (open-pit ore was sterilized by the old underground ramp and vent raise, and could not be mined until this old infrastructure was decommissioned and moved). Commercial production from Phase II was achieved in April, and underground production continues to ramp up with commercial production expected this month. . .the 147 Zone discovery has the potential for up to 200 Koz. for every 100m of vertical extent—a very significant discover, though in early stages, is delivering some excellent grades and widths."

HRA Dispatch (6/21/11) "Brigus Gold has released its Q1 results, which essentially boil down to management contending that the basic pain from the Black Fox refit is behind it; BRD expects to generate 73&38211;80 Koz. this year at a cash cost of about $600/oz. Drill results out yesterday show both high-grade and bulk-tonnage intercepts are well above current averages."

Black Fox Mine, Timmons, Ont

Related articles

• Brigus Gold provides positive update on Goldfields project. (retirefunds.blogspot.com)
• Brigus Gold intersects high grade gold zone at Black Fox Mine. (retirefunds.blogspot.com)
• Brigus Gold Corp. reports higher grade gold assay results at Black Fox Mine. (retirefunds.blogspot.com)
• Brigus Gold Added to S&P/TSX Indices (retirefunds.blogspot.com)