San Gold Announces a 60% Increase in Mineral Reserves

San Gold Corporation

TSX : SGR
OTCQX : SGRCF

February 20, 2014 20:00 ET

WINNIPEG, MANITOBA--(Marketwired - Feb. 20, 2014) - San Gold Corporation (TSX:SGR)(OTCQX:SGRCF) today announced an updated mineral reserve and resource estimate for its Rice Lake Mining Complex.

During 2013, extensive definition drilling and detailed mine planning to integrate the Hinge, 007 and Rice Lakes mines resulted in an increase in proven and probable mineral reserves to 2.7 million tons grading 5.24 grams per tonne containing 405,400 ounces of gold as of December 31, 2013. This is a 60% increase from the proven and probable mineral reserves as of December 31, 2012. 

"I am very pleased with the progress made by our technical team over the past year. The increase in reserves has allowed us to complete five years of detailed mine planning, thereby providing improved operational flexibility. Our drilling in 2014 will be primarily from underground locations in closer proximity to known ore bodies. We expect to achieve a further increase in the mineral reserve as the year progresses through the conversion of our large inferred mineral resource," said Ian Berzins, San Gold's President, CEO and Chief Operating Officer.

Notes to Mineral Reserve and Resource Estimate Table

• Mineral reserve and resource estimates are calculated in accordance with the CIM Definition Standards on Mineral Resources and Mineral Reserves adopted by CIM Council, 2010.
• Tonnage and ounce estimates have been rounded to the nearest hundred.
• Proven and probable mineral reserves are included in the measured and indicated mineral resources.
• The mineral reserve estimate is based on a gold price of US$1,250 per ounce.
• A cut-off grade of 3.65 g/tonne gold was used for estimating mineral reserves. A cut-off grade of between 2.74 and 3.43 g/tonne gold was used for estimating mineral resources.
• Inferred mineral resources are not in the current mine plan and therefore do not have demonstrated economic viability.

The estimate of mineral resources was carried out under the supervision of Michael Michaud, Vice-President
of Exploration. The estimate of mineral reserves was carried out under the supervision of Rolando Jeria, Chief Engineer. Mr. Michaud and Mr. Jeria are Qualified Persons as defined by NI 43-101, and have reviewed and approved this news release.

About  San Gold

San Gold is an established Canadian gold producer, explorer, and developer that owns and operates the Rice Lake Mining Complex near Bissett, Manitoba. The Company employs more than 420 people and is committed to the highest standards of safety and environmental stewardship. San Gold is on the Toronto Stock Exchange under the symbol "SGR" and on the OTCQX under the symbol "SGRCF".

Cautionary Note
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release includes certain "forward-looking statements". All statements, other than statements of historical fact included in this release, including, without limitation, statements regarding forecast gold production, gold grades, recoveries, cash operating costs, potential mineralization, mineral resources, mineral reserves, exploration results, and future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. These forward-looking statements include, but are not limited to, statements with respect to mining and processing of mined ore, achieving projected recovery rates, anticipated production rates and mine life, operating efficiencies, costs and expenditures, changes in mineral resources and conversion of mineral resources to proven and probable mineral reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements.
There can be no assurance that forward-looking 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 the Company's expectations include, among others, the actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of precious metals, as well as those factors discussed in the section entitled "Other MD&A Requirements and Additional Disclosure and Risk Factors" in the Company's most recent quarterly Management's Analysis and Discussion ("MD&A"). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Exploration results that include geophysics, sampling, and drill results on wide spacings may not be indicative of the occurrence of a mineral deposit. Such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics, and economic potential to be classed as a category of mineral resource. A mineral resource that is classified as "inferred" or "indicated" has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an "indicated mineral resource" or "inferred mineral resource" will ever be upgraded to a higher category of resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into proven and probable reserves.

Contact Information

• 
  
  San Gold Corporation
  Ian Berzins
  President, CEO, and Chief Operating Officer
  Toll Free: 1 (855) 585-4653
  
  San Gold Corporation
  Tim Friesen
  Investor Relations
  Toll Free: 1 (855) 585-4653
  sgr@sangold.ca
  www.sangold.ca

Brigus Gold is on a roll into 2015

If you are looking for a growing, junior gold miner, that makes profit, is growing it's margin, and resource base, while reducing overall costs of production, look no further than Brigus Gold.

In Q3 Brigus produced a record 22,000 oz and is on track to exceed 100,000 oz producion per year for the forseeable future.  Resource base has grown to over 2 million oz. In October drilling at the Black Fox Mine site hit a whopper of a result at 18.09 grams per ton over 39.60 metres, including 39.45 g/t over 10.35 metres. This, in an industry where 3g/t is considered mineable. That result occured only 2 weeks after hitting a previous whopper of  40.71 gpt Gold Over 26.75 Both if these occured at Brigus's producing Black Fox Mine.  At the same time they began hitting great results at thier Grey Fox property as well. Although headquartered in Halifax Nova Scotia, Brigus mines are situated in the Timmons Ontario gold district which has been one of the most prolific gold producing regions of the world for decades.  Brigus is an anomaly in the junior gold space. Why? Because it has a working gold mine, it produces gold, is profitable and it is growing.

Brigus Gold Corp  Today - .70c per share

Market Cap	$167.8M	Beta	0.98
Revenue (TTM)	$144.1M	EPS	$0.10
Shares Out.	232.1M	Book Value	$1.05
Dividend Yield	0.00%	P/E	7.4x
Annual Dividend Rate	$0.00	Price/Sales (TTM)	1.2
Ex-Div Date	1/1/01	P/Cash Flow (TTM)	2.7x
Pay Date	1/1/01	Operating Margin	14.79%

If you are in the market for a junior gold miner, you should consider Brigus Gold, before the share price catches fire, because I believe it surely will.

Hope you have great results with your Retirefunds.

HP

San Gold Announces $50 Million Offering of Convertible Debentures

WINNIPEG, MANITOBA--(Marketwire - Feb. 13, 2013) -
THIS PRESS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
San Gold Corporation (TSX:SGR)(OTCQX:SGRCF) (the "Company") today entered into an agreement with a syndicate of underwriters co-led by Scotiabank and CIBC under which they have agreed to act as underwriters to purchase, on a bought deal basis, 50,000 convertible unsecured subordinated debentures (the "Debentures") of the Company at a price of C$1,000 per Debenture, for total gross proceeds of C$50 million (the "Offering").
The Underwriters have been granted an option (the "Option") to purchase up to an additional 15% of the Offering, exercisable in whole or in part at any time up to 30 days following the closing of the Offering, which is scheduled to occur on or about March 6, 2013 (the "Closing Date").
The Debentures will mature on March 31, 2018 (the "Maturity Date"), unless earlier redeemed, and will bear interest, accruing, calculated and payable semi-annually in arrears on March 31 and September 30 of each year, at a rate of 8.00% per year. The Debentures will be convertible at the holder's option into common shares ("Common Shares") of the Company at any time prior to the close of business on the earlier of the Maturity Date and the business day immediately preceding the date fixed for redemption of the Debentures at a conversion price of C$0.50 per Common Share (the "Conversion Price"), subject to adjustment in certain circumstances.
The net proceeds of the offering will be used to fund continued development of the Company's mineral properties and for general working capital purposes.
The Debentures will be direct unsecured obligations of the Company ranking subordinate to all liabilities except liabilities, which by their terms rank in right of payment equally with or subordinate to the Debentures. The Debentures will rank pari passu with all subordinate indebtedness issued by the Company from time to time, to the extent subordinated on the same terms.
The Offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals. The Offering is subject to the approval of the TSX.
These securities being offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent registration or an applicable exemption from registration requirements. This release does not constitute an offer for sale of securities in the United States.
About San Gold
San Gold is an established Canadian gold producer, explorer, and developer that owns and operates the Hinge, 007, and Rice Lake mines near Bissett, Manitoba, approximately 235 kilometres northeast of Winnipeg, Manitoba, Canada. The Rice Lake Project has a permitted, modern gold mill currently processing ore at a capacity of 2,500 tons per day, modern surface infrastructure including a licensed tailings management facility, and is connected to the Manitoba power grid system. The Company employs more than 400 people and is committed to the highest standards of safety and environmental stewardship. San Gold is on the Toronto Stock Exchange under the symbol "SGR" and on the OTCQX under the symbol "SGRCF".
For further information on the Company, please visit www.sangold.ca.
Cautionary Note
This news release includes certain "forward-looking statements". All statements, other than statements of historical fact included in this release, including, without limitation, statements regarding forecast gold production, gold grades, recoveries, cash operating costs, potential mineralization, mineral resources, mineral reserves, exploration results, and future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. These forward-looking statements include, but are not limited to, statements with respect to mining and processing of mined ore, achieving projected recovery rates, anticipated production rates and mine life, operating efficiencies, costs and expenditures, changes in mineral resources and conversion of mineral resources to proven and probable mineral reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements.
There can be no assurance that forward-looking 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 the Company's expectations include, among others, the actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of precious metals, as well as those factors discussed in the section entitled "Other MD&A Requirements and Additional Disclosure and Risk Factors" in the Company's most recent quarterly Management's Analysis and Discussion ("MD&A"). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Drill core obtained as part of the surface drill program was split, with half sent to TSL Laboratories in Saskatoon, SK and fire assayed followed by an Atomic Absorption and gravimetric finish. Whole metallic assays were performed on samples containing visible gold. Underground drill core samples were assayed on site in the Company's assay laboratory using the fire assay method with an Atomic Absorption and gravimetric finish. The Company's quality control and assurance program includes the insertion of standards, the retention of pulps and rejects, and spot checks utilizing independent laboratories including TSL Laboratories in Saskatoon, SK and Accurassay Laboratories of Thunder Bay, ON.
Exploration results that include geophysics, sampling, and drill results on wide spacings may not be indicative of the occurrence of a mineral deposit. Such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics, and economic potential to be classed as a category of mineral resource. A mineral resource that is classified as "inferred" or "indicated" has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an "indicated mineral resource" or "inferred mineral resource" will ever be upgraded to a higher category of resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into proven and probable reserves.
FOR FURTHER INFORMATION PLEASE CONTACT:
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Contact Information:

San Gold Corporation

Dale Ginn, P.Geo

Qualified Person and Executive Vice Chairman

1 (855) 585-4653





San Gold Corporation

George Pirie

President and CEO

1 (855) 585-4653





San Gold Corporation

Manish Grigo

Director Investor Relations

1 (855) 585-4653

info1@sangold.ca

www.sangold.ca

San Gold Drills 15.5 g/t Over 11.1 m in 710 Lens

San Gold Corporation

TSX : SGR
OTCQX : SGRCF

November 26, 2012 07:00 ET

WINNIPEG, MANITOBA--(Marketwire - Nov. 26, 2012) - George Pirie, President and Chief Executive Officer for San Gold Corporation (TSX:SGR) (OTCQX:SGRCF), is pleased to announce recent results from drill hole 607-12-048 in the 710 lens featuring multiple intercepts including 15.5 g/T over 11.1 metres and 12.0 g/T over 6.0 metres within the Company's 100% owned Rice Lake Project located in Bissett, approximately 235 kilometres northeast of Winnipeg, Manitoba, Canada. The Rice Lake Project has a permitted, modern gold mill currently processing ore at a capacity of 2,500 tons per day, modern surface infrastructure including a licensed tailings management facility, and is connected to the Manitoba power grid system.

The 710 lens is located within the Shoreline Basalt mining unit, adjacent existing infrastructure, and has been delineated between 1,100 and 1,300 metres below surface with a strike of approximately 200 metres. The company is currently developing access to the 710 lens and anticipates mining operations to begin in early 2014.

"These results emphasize the down-dip potential of these deposits, none of which have yet been tested below 1,500 metres. While we continue to aggressively develop the deposits located near surface, these results indicate that we are still only beginning to see the full potential of this property," said Mr. Pirie.

Drilling Results:

Hole	Zone	From (m)	To (m)	Core Length (m)	Grade (g/T)	Below Surface (m)
607-12-048	Shoreline Basalt	290.1	296.1	6.0	12.0	1322.5
	including	292.9	294.0	1.1	62.3
	Shoreline Basalt	359.7	363.5	3.8	8.7	1354.8
	Shoreline Basalt	381.9	392.9	11.1	15.5	1368.2
	including	386.5	392.6	6.1	24.0
	Shoreline Basalt	400.7	401.1	0.4	18.1	1373.4

(1) The intersections presented herein may not necessarily represent the true width of mineralization.
Figure 1 at the end of this release provides a longitudinal section of drill hole 607-12-048 in relation to the delineated portion of the 710 lens.
Figure 2 at the end of this release provides a plan view of drill hole 607-12-048 in relation to the delineated portion of the 710 lens.
Figure 3 at the end of this release provides a plan view of drill hole 607-12-048 in relation to the existing 30 Level infrastructure.
Underground drill core samples are assayed on site in the company's assay lab using the fire assay method with an AA and gravimetric finish. San Gold's quality control and assurance program includes the insertion of standards, the retention of pulps and rejects, and spot checks utilizing independent labs including TSL Laboratories in Saskatoon, SK and Accurassay Laboratories of Thunder Bay, ON. The core lengths are actual lengths as drilled and have not been adjusted for the true width of the mineralized zones.
This drilling program was carried out by San Gold mine geologists under the supervision of D. Ginn, P.Geo., the Qualified Person for San Gold under National Instrument 43-10, who has reviewed and approved the press release.
About San Gold

San Gold is an established Canadian gold producer, explorer, and developer that owns and operates the Hinge, 007, and Rice Lake mines near Bissett, Manitoba. The Company employs more than 400 people and is committed to the highest standards of safety and environmental stewardship. San Gold is on the Toronto Stock Exchange under the symbol "SGR" and on the OTCQX under the symbol "SGRCF".

Cautionary Note
This news release includes certain "forward-looking statements". All statements, other than statements of historical fact included in this release, including, without limitation, statements regarding forecast gold production, gold grades, recoveries, cash operating costs, potential mineralization, mineral resources, mineral reserves, exploration results, and future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. These forward-looking statements include, but are not limited to, statements with respect to mining and processing of mined ore, achieving projected recovery rates, anticipated production rates and mine life, operating efficiencies, costs and expenditures, changes in mineral resources and conversion of mineral resources to proven and probable mineral reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements.
There can be no assurance that forward-looking 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 the Company's expectations include, among others, the actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of precious metals, as well as those factors discussed in the section entitled "Other MD&A Requirements and Additional Disclosure and Risk Factors" in the Company's most recent quarterly Management's Analysis and Discussion ("MD&A"). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Exploration results that include geophysics, sampling, and drill results on wide spacings may not be indicative of the occurrence of a mineral deposit. Such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics, and economic potential to be classed as a category of mineral resource. A mineral resource that is classified as "inferred" or "indicated" has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an "indicated mineral resource" or "inferred mineral resource" will ever be upgraded to a higher category of resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into proven and probable reserves.
To view the figures associated with this release, please visit the following links:
Figure 1 : http://media3.marketwire.com/docs/SGR4.pdf
Figure 2 : http://media3.marketwire.com/docs/SGR5.pdf
Figure 3 : http://media3.marketwire.com/docs/SGR6.pdf

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Contact Information

San Gold Corporation
George Pirie
President and CEO
Toll Free: 1 (855) 585-4653
info1@sangold.ca

San Gold Corporation
Manish Grigo
Director Investor Relations
Toll Free: 1 (855) 585-4653
www.sangold.ca

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TNR Gold Intersects 242 Metres of 1.25 g/t Gold on New Geophysical Target at Shotgun Ridge Project

 VANCOUVER, British Columbia, Sept. 13, 2012 /PRNewswire/ -- TNR Gold Corp. ("TNR" or the "Company") (TSXV: TNR) is pleased to announce the assay results from the first hole of the drilling program at the Shotgun gold property in Alaska.  Drill hole SR12-56 returned 242 metres averaging 1.25 grams per tonne gold including several higher-grade intercepts.  The 30-day exploration program included 814 metres of drilling and three geophysical survey grids.

• Drill hole SR12-56 returns mineralized interval of 242.22 metres averaging 1.25 grams per tonne gold.
• Included within this interval is 114.22m averaging 1.84 g/t Au.
• Hole ended in mineralization at target depth of 293.22 metres.
• Mineralized zones are open at depth and coincident with geophysical anomalies found in 2011.
• Assays pending for two more holes.

Drilling ResultsDiamond drill hole SR12-56 was oriented parallel and approximately 50m northwest of SR06-43 (previously reported containing 210 metres averaging 1.3 g/t Au).  Three zones identified by more intense brecciation and increased gold grades correlate well between the two holes.  These new results significantly reinforce confidence in the specific orientation of these southwest dipping mineralized higher-grade zones and how to target them with future drilling.  In addition to testing for continuation of mineralized zones encountered in SR06-43, the new hole targeted an untested geophysical anomaly identified by the 3D geophysical survey in 2011.  The strongest mineralization encountered in hole SR12-56 is coincident with where this geophysical anomaly was intersected.  The hole ended in mineralization at target depth of 293.22m.

	From	To	Width	Au g/t
Entire intrusive	51.00	293.20	242.20	1.25
Including (SW-zone)	55.50	104.35	48.85	1.02
Including (Mid-zone)	135.00	159.20	24.20	0.85
Including (NE-zone)	179.00	293.22	114.22	1.84
Containing	186.00	242.00	68.00	2.05
which includes	203.90	226.00	22.10	2.86
And containing	264.30	277.45	13.15	3.12
Which includes			1.95	11.2

Cross section and plan map images showing SR12-56 are available on the Company's website, http://www.tnrgoldcorp.com

Drilling targeting was aided by 2011 geophysical surveys results.  Higher grades within the NE-zone in hole 12-56 are associated with a chargeability high feature that suggests the mineralization continues at depth.  Preliminary results of the 2012 geophysical survey are currently being interpreted.

"The Company is extremely pleased with these results and how they support our exploration model for identifying bulk minable gold targets at the Shotgun project.  As reported previously, the geology logged in the drilling correlated well with previous work and looked very encouraging.  The assays in the first hole have started to confirm this" comments John Harrop, VP Exploration.

About the Shotgun Gold ProjectTNR holds a 100% interest in the Shotgun property located 175 kilometres south of Donlin Creek within the Kuskokwim Gold Belt in southwestern Alaska. This area is emerging as a world-class gold district hosting more than 40 million ounces of aggregated gold resources. The Shotgun property includes a number of prospects, including Shotgun Ridge and nearby Winchester. Donlin is an intrusion-associated system and represents one of the largest undeveloped gold deposits in the world. The Company believes that there are several key similarities between prospects on the Shotgun property and that of the Donlin Creek gold deposit as well as other important intrusion-associated deposits.
John Harrop, PGeo, FGS, a Qualified Person for the Company as defined by National Instrument 43-101 Standards of  Disclosure for Mineral Projects  has reviewed the technical information contained in this news release.
About TNR Gold Corp.Over the past twenty-one years TNR, through its lead generator business model, has been successful in generating high quality exploration projects around the globe. With the Company's expertise, resources and industry network, it is well positioned to aggressively identify, source, explore, partner and continue to expand its project portfolio.

TNR's recently listed subsidiary, International Lithium Corp. (TSXV) (ILC), demonstrated the successful application of TNR's business model in which TNR shareholders benefited from a unit distribution upon spin-out of TNR's lithium and rare metals projects. Ganfeng Lithium Co. Ltd. is a leading China based, multi-product lithium manufacturer, and strategic partner and investor in ILC.  TNR remains a large shareholder in ILC holding 25.5% of ILC's outstanding shares.

At its core, TNR provides significant exposure to gold and copper through its holdings in Alaska and Argentina; and teamed with the recent acquisitions of rare-earth elements and iron ore projects in Canada confirms TNR's commitment to continued generation of in-demand projects, while diversifying its markets and building shareholder value.

On behalf of the board,
Gary SchellenbergPresident

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
Symbol: TNR:TSXVCUSIP: #87260X 109SEC 12g3-2(b): Exemption #82-4434
620 - 650 West Georgia StreetVancouver, British ColumbiaV6B 4N9, Canada Voice: (604) 687-7551Fax: (604) 687-4670 1-800-667-4470E-mail: info@tnrgoldcorp.com
Website: http://www.tnrgoldcorp.com
Twitter:  @TNR_Gold

SOURCE TNR Gold Corp.

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CEO of Brigus Gold happy with Q2 results.

Brigus Gold Reports Q2 Financial Results (bwire)
HALIFAX, Nova Scotia (Business Wire) -- Brigus Gold Corp. (NYSE -BRD ) (TSX: BRD) (“Brigus” or the “Company”) announces results for the second quarter (“Q2-12”) of 2012.
This press release should be read in conjunction with the Company's June 30, 2012 consolidated 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 (“IFRS”).
Key accomplishments for the quarter include achieving gold production of 18,254 ounces, meeting the Company's Q2 production target, and averaging grades of 6.31 grams per tonne (gpt) from the underground mine.
“We are pleased with our results for the first half of the year,” said Wade Dawe, President and CEO of Brigus. “We met our second consecutive production target, underground grades are meeting expectations and cash costs are lower than projected. We are focused on completing development of the underground mine and optimizing production at Black Fox. I am confident that we will continue on this path as operations at Black Fox strengthen through the year.”
Second Quarter 2012 Financial Highlights

• Gold sales improved by 21% to 18,419 ounces of gold, compared to 15,178 ounces sold in Q2-11.
• Average realized gold price increased by 5% to $1,543 per ounce compared to $1,463 in Q2-11.
• Reduced cash costs to $799 per ounce, an 8% reduction in cash costs from Q2-11 which were $865 per ounce and a 7% reduction from cash costs in Q1-12 which were $858 per ounce.
• Generated cash flow from operations, before working capital adjustments, of $12.6 million, compared to $3.6 million in the same period in 2011.
• Increased operating margin by 24% to $744 per ounce, compared to $598 per ounce in Q2-11.
• Generated positive income from operations of $4.7 M, compared to a net operating loss of $2.9 M in Q2-11.
• Capital additions totalled $16.0 million, consisting of $13.4 million in capital expenditures at Black Fox related to property, plant and equipment and $2.6 million related to exploration and development expenditures.

Consolidated Financial Results

($ thousands, except per share and ounces)		For the three months ended								For the six month ended
		June 30, 2012				June 30, 2011				June 30, 2012				June 30, 2011
Revenue from the sale of gold		$		28,422		$		17,863		$		54,245		$		31,433
Operating costs		$		23,736		$		20,754		$		46,079		$		37,700
Income (loss) from operations		$		4,686		$		(2,891)		$		8,166		$		(6,267)
Net income (loss) and comprehensive income (loss)		$		416		$		(3,972)		$		5,936		$		289
Basic earnings (loss) per share		$		0.00		$		(0.02)		$		0.03		$		0.00
Cash flows from operations		$		10,407		$		4,055		$		17,328		$		7,470
Gold sales in ounces				18,419				15,178				34,452				25,181
Total cash cost per ounce of gold sold		$		799		$		865		$		826		$		969

Second Quarter 2012 Operational Highlights

• Produced 18,254 ounces of gold, consistent with quarterly production guidance, a 16% increase over Q2-11.
• The underground mined 36,604 ore tonnes and achieved an average grade of 6.31 gpt, an increase of 19.5% over Q1-12.
• The open pit mined 192,041 ore tonnes at an average grade of 2.16 gpt, a 119% increase over the ore tonnes mined in Q2-11.
• The Black Fox Mill processed 178,002 tonnes of ore at an average grade of 3.31 gpt and an average recovery of 96.5%.
• Continued positive drilling results on the Grey Fox property, including 11.68 gpt gold over 26.0 m from the 147 Zone.

Results from Operations

		For the three months								For the six months ended
		June 30, 2012				June 30, 2011				June 30, 2012				June 30, 2011
Metal Sales
Gold (ounces)				18,419				15,178				34,452				25,181
Silver (ounces)				1,191				469				2,049				905
Average realized gold price		$		1,543		$		1,463		$		1,575		$		1,421
Production
Open pit ore tonnes mined				192,041				87,760				412,621				117,569
Open pit operating waste tonnes mined				1,332,625				1,553,069				2,659,987				1,624,136
Open pit capital stripping tonnes mined				691,635				712,273				1,444,995				2,602,724
Open pit overburden tonnes mined				-				-				-				293,680
Total open pit tonnes mined				2,216,301				2,333,102				4,517,603				4,638,109
Total underground ore tonnes mined				36,604				30,316				71,751				39,132
Total tonnes mined				2,252,905				2,363,418				4,589,354				4,677,241
Milling
Tonnes milled				178,002				181,488				358,967				360,717
Tonnes milled per day				1,956				1,994				1,972				1,993
Head grade of ore (gpt)				3.31				2.86				3.17				2.26
Recovery (%)				96%				94%				96%				93%
Gold ounces produced				18,254				15,688				35,176				24,460
Total cash costs ($/ounce):		$		799		$		865		$		826		$		969
Operating Margin ($/ounce):		$		744		$		598		$		749		$		452

Outlook
Operations at the Black Fox Mine continue to ramp up and will deliver increased gold production quarter over quarter in 2012. Brigus is forecasting 2012 gold production of 77,000 to 85,000 ounces, at a cash cost per ounce of $775 - $825 as follows:

2012		Low		High		Actual		Cash Costs / ounce
Q1		15,500		17,000		16,922		$858
Q2		18,000		21,000		18,254		$799
Q3		21,500		23,000
Q4		22,000		24,000
Total		77,000		85,000

During the second quarter the Company reviewed its 2012 capital budget. As a result of this review, the Company expects capital development costs in the underground to be $29 million and spending on plant, property and equipment to be $13 million. Capital development in the underground has increased as a result of changes to mining techniques and additional development activity. The original budget for the underground mine called for the use of mechanized cut and fill techniques throughout the mine. In Q1 2012, the Company identified that it would be more appropriate to mine the west side of the mine using long-hole techniques, which require more up-front development, but provide a lower overall mining cost and higher ore recovery rates. Development of the long-hole stope on the west side of the mine is on-going and production from the west side long-hole will commence in Q4 2012. Additionally, an exploration drift was added to the east ramp to facilitate an underground exploration program while enabling definition drilling on existing reserves. Finally, the original mine plan did not include development within the upper workings of the mine which were initially mined from 1997-2001. The Company has recently revisited this area and identified potential new mining zones. In order to mine these zones the Company will require additional up-front capital investment. Increases in the budget for plant, property and equipment also include an upgrade to the electrical system at the mine and improvements to the tailing facilities.
The revised capital budget for 2012 is $60 million, consisting of $29 million related to underground development, $12 million related to open pit capital stripping, $3 million related to Phase 3 overburden removal, $8 million related to mining equipment purchases and overhauls, $3 million for electrical upgrades, $2 million for Grey Fox development, and $3 million relating to the completion of the mill expansion.
The mill optimization program is progressing according to plan and is expected to be completed and in service during the second half of 2012. Processing capacity and recovery will increase through optimization of existing equipment, equipment additions and reduction of production losses. The optimization is expected to increase mill processing capacity by 5-10%, up to 2,200 tpd.
Planning is underway to develop the Grey Fox Mine located on the southeast portion of the Black Fox Complex. The initial resource estimate from this area, announced in December 2011, added more than 50 percent to the gold resource at the Black Fox Complex. Brigus is in the process of expanding the resource and converting Inferred ounces to Indicated ounces through systematic in‐fill drilling. An updated resource estimate will be released in September. Initial engineering studies have also been initiated and will continue through 2012 to determine project economics as well as development and production timelines. A preliminary economic assessment (“PEA”) for Grey Fox will be released in Q4, and will incorporate the new resource.
The Black Fox underground ore body is open for expansion with grades that trend higher at depth. The Company began underground exploration drilling from the east ramp in June with the objective of increasing the reserves and extending the mine life. Exploration drilling with a second underground drill will commence from the west ramp in September.
Second Quarter Webcast and Conference Call
A webcast and conference call will be held Monday, August 13, 2012 at 12 noon Atlantic time (11:00 a.m. Eastern time).
To attend by webcast please visit http://www.investorcalendar.com/IC/CEPage.asp?ID=169112
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
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

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