Gold resource base growing at Brigus Gold's Black Fox Mine

Brigus Gold Provides Exploration Update (bwire)

HALIFAX, Nova Scotia (Business Wire) -- Brigus Gold Corporation (“Brigus Gold” or the “Company”) (NYSE : BRD ; TSX:BRD) is pleased to release results from the first underground drilling at the Black Fox mine since the Company was formed in June 2010. The Company is also pleased to provide an update on its exploration drilling program at the Grey Fox property.

The Black Fox Complex covers an area of approximately 18 square kilometres within the Timmins Mining District, Ontario, and includes the producing Black Fox gold mine and the Grey Fox property. The Grey Fox property hosts a series of prolific gold zones that are within close proximity, including the Contact, 147 and Grey Fox South zones. The Grey Fox property is located about four kilometres southeast of the Black Fox mine.

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

The Black Fox orebody remains open at depth and along strike and includes gold reserves to a maximum depth of 500 metres. Orebodies in the region, along the Destor Porcupine Fault, often extend to depths of more than 1,000 metres. The ongoing underground drilling program at the Black Fox mine will drill beyond 500 metres and will continue into 2013 with the goal of expanding the underground resource.
Results from the initial holes include (all assays cut to 150 grams per tonne (gpt), average gold grades over core length widths):

Hole			Core Width (m)			Gold Assay (gpt)
672-01-E			3.40			18.03
672-09-E			3.00			14.93
672-10-E			2.30			19.93
672-11-E			2.00			16.72
and			5.94			3.27
672-13-E			7.82			4.66
672-14-E			8.40			7.01

“The initial results from our new underground drill program at the Black Fox mine are excellent,” commented Wade Dawe, Brigus Gold's President and Chief Executive Officer. “This is the first exploration drilling at the mine since 2007, and we look forward to increasing both the minable gold reserves and the mine life as a result of the drill program. We are confident this drill program will have a positive and material impact on the value of the known gold resource at the mine.” 

GREY FOX PROPERTY
In addition to ongoing drilling at the Black Fox mine, the Company currently has three drills working at the Grey Fox property with a fourth being added next month. The Company's exploration program at Grey Fox over the past two years has been extremely successful with the definition of a new 571,000 ounce resource including 480,850 ounces in the indicated category from the Contact and 147 zones, and the recent announcement of a new discovery named the Grey Fox South Zone (see attached map). All three zones remain open for expansion.

Brigus recently announced $10 million in flow-through financing which will fully fund an increased exploration program for 2013.

“We are very pleased with our exploration success year over year at the Black Fox Complex,” said Howard Bird, Senior Vice President of Exploration. “With ongoing drilling on the Contact and 147 zones we will continue to increase our stated gold resources on the property, and now with the recent discovery of the Grey Fox South Zone, we look forward to demonstrating a significantly larger gold resource during 2013.”

The zones within the Grey Fox property provide Brigus with near term production growth opportunities because of their proximity to the Black Fox mine infrastructure.

Grey Fox Property: Contact and 147 Zones
The following drill results include highlights of new high-grade assays at increased depth:

Zone				Hole				Core Width (m)				Gold Assay (gpt)				Vertical Depth From Surface (m)
147				GF12-561				57.00				5.17				280
Contact				GF12-376				20.90				4.79				425

A location map showing the gold zones on the Grey Fox property within the Black Fox Complex can be found on the Company's website.

Surface drilling was conducted by Norex Drilling and was supervised by the Brigus exploration team. All surface drill hole 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. The Black Fox mine underground drilling was conducted by Boreal Drilling and drill hole sample analyses were performed by Accurassay Laboratories in Thunder Bay, Ontario 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 profitable and 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 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.


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

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Rockwood buys Talison Lithium for $724 Million Cash!

Talison Lithium Limited

TSX : TLH

August 23, 2012 08:15 ET

Cash Acquisition of Talison Lithium by Rockwood

PERTH, WESTERN AUSTRALIA--(Marketwire - Aug. 23, 2012) - Talison Lithium Limited ("Talison" or the "Company") (TSX:TLH) announced today that it has entered into a definitive Scheme Implementation Agreement ("SIA") with Rockwood Holdings, Inc. ("Rockwood") under which it is proposed that Rockwood, or a wholly-owned entity of Rockwood, will acquire 100% of the ordinary shares in the capital of Talison (the "Shares") by way of a Scheme of Arrangement ("Scheme") under the Australian Corporations Act 2001 (Cth) for cash consideration of C$6.50 per share. This values the equity of Talison at approximately C$724 million on a fully diluted basis.
The cash consideration of C$6.50 per Share, represents:

• A 53% premium to Talison's last closing price on August 22, 2012 of C$4.24;
• A 52% premium to Talison's 10 day volume weighted average price ("VWAP") of C$4.28; and
• A 59% premium to Talison's 30 day VWAP of C$4.08.

The cash consideration provides an opportunity for Talison Shareholders to realise immediate value for their Shares at a substantial premium to market and reflects the size, strategic nature and growth potential of Talison's lithium operations.
The SIA entered into by Talison and Rockwood also proposes that Rockwood, or a wholly-owned entity of Rockwood, will acquire 100% of the options to acquire Shares ("Options") through an option scheme of arrangement ("Option Scheme") for cash consideration of C$6.50 per Option less the exercise price for that Option.
The board of directors of Talison ("Talison Directors") has considered the Scheme and the Option Scheme and unanimously recommends that Shareholders and Optionholders vote in favour of the Scheme and the Option Scheme, in the absence of a Superior Proposal (as defined in the SIA) and subject to an Independent Expert concluding that the Schemes are in the best interests of security holders. Each of the Talison Directors intends to vote the Shares and Options held or controlled by them in favour of the Scheme and Option Scheme.
Resource Capital Fund IV L.P. and Resource Capital Fund V L.P. (collectively, the "RCF Funds"), together having a 36.8% shareholding interest in Talison, have each confirmed to Talison that, in the absence of an offer which the RCF Funds determine is superior, they support the Scheme and intend to vote all of their Shares in favour of the Scheme.
Peter Robinson, Chairman of the Board of Talison, said, "Today marks a significant milestone in the history of Talison. Under the Scheme, Rockwood is offering cash consideration representing an attractive premium for Shareholders and allowing Shareholders to realise immediate value for their Talison Shares. This reflects positively on Talison's position in the global lithium market."
Macquarie Capital in Australia and Canada are acting as financial advisor to Talison. A special committee comprised of independent directors of Talison has received a fairness opinion from Macquarie Capital, effective on the date hereof, which provides that, subject to the assumptions and limitations contained therein, the consideration to be received by Shareholders pursuant to the Scheme is fair, from a financial point of view, to the Shareholders.
As Talison is an Australian incorporated company listed on the Toronto Stock Exchange, the Scheme will be implemented in accordance with the requirements of the Australian Corporations Act and any applicable Canadian requirements. Consistent with best practice in Australia, an Independent Expert will shortly be appointed to opine on whether the Scheme and the Option Scheme are in the best interests of Shareholders and Optionholders respectively.
Rockwood is a NYSE-listed global specialty chemicals and advanced materials company. Rockwood focuses on global niche segments of the specialty chemicals, pigments and additives and advanced materials markets.
The expectation of Talison's Directors is that Talison, as part of the Rockwood group, will continue to support its existing lithium concentrate customers in China and the rest of the world.
Scheme Details and Timetable
The completion of the Scheme and Option Scheme is subject to minimal conditions including:

• Approval under the Australian Foreign Acquisitions and Takeovers Act 1975 (Cth);
• Regulatory approvals from the Australian Securities and Investments Commission and the Australian Court;
• Approval of the requisite majority of Talison Shareholders at a meeting of Shareholders;
• No Material Adverse Change (as defined in the SIA) occurring to Talison; and
• No Prescribed Occurrence (as defined in the SIA) occurring in relation to Talison.

Further due diligence is not a condition to completion of the Scheme or the Option Scheme.
The SIA contains terms typical for a transaction of this nature for an Australian incorporated company, including "no shop" and "no talk" provisions (subject to typical directors' fiduciary duty exemptions), notification and matching rights.
A mutual break fee ("Break Fee") of C$7 million is also payable in certain circumstances. Talison is not liable to pay the Break Fee by reason only of the Scheme not being approved by Talison shareholders or by the Australian Courts, nor in the event that Talison Directors withdraw their recommendation for the Scheme as a result of the Independent Expert finding that the Scheme is not in the best interests of Talison Shareholders. A Break Fee is payable by Rockwood if it materially breaches an obligation under the SIA and fails to remedy such breach. Any payment of the Break Fee will be in full and final satisfaction of all claims to which the party paying the break fee may be subject.
Implementation of the Scheme and the Option Scheme will also be subject to the terms and conditions set out in the Scheme and Option Scheme documentation when issued.
Further details are included in the executed SIA which is available on SEDAR at www.sedar.com and on the Talison website www.talisonlithium.com.
Scheme and Option Scheme booklets will be mailed to Shareholders and Optionholders. The booklets will contain, among other things, further information about the Scheme, the Option Scheme, a copy of the Independent Expert's report and related securityholder meeting materials. Talison expects that the approval of the Scheme and the Option Scheme will be put to Shareholders and Optionholders at meetings expected to be held in October 2012, and that the Scheme and Option Scheme will be completed shortly thereafter.
Advisors
Macquarie Capital is acting as financial advisor to Talison. Clayton Utz and Blake, Cassels & Graydon LLP are acting as legal advisors to Talison.
Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this press release, including any information as to Talison's mineral reserve and mineral resource estimates, strategy, projects, plans, prospects, future outlook, anticipated events or results or future financial or operating performance, may constitute "forward-looking information" within the meaning of Canadian securities laws. All statements, other than statements of historical fact, constitute forward-looking information. Forward-looking information can often, but not always, be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "predicts", "potential", "continue" or "believes", or variations (including negative variations) of such words, or statements that certain actions, events or results "may", "could", "would", "should", "might", "potential to", or "will" be taken, occur or be achieved or other similar expressions concerning matters that are not historical facts. The purpose of forward-looking information is to provide the reader with information about management's expectations and plans. Readers are cautioned that forward-looking statements are not guarantees of future performance. All forward-looking statements made or incorporated in this press release are qualified by these cautionary statements.
Forward-looking statements are necessarily based on a number of factors, estimates and assumptions that, while considered reasonable by Talison, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Such factors, estimates and assumptions include, but are not limited to: anticipated financial and operating performance of Talison, its subsidiaries and their respective projects; Talison's market position; future prices of lithium or lithium concentrates; estimation of mineral reserves and mineral resources; realization of mineral reserve and mineral resource estimates; timing, amount and costs of estimated future production; grade, quality and content of concentrate produced; sale of production; capital, operating and exploration expenditures; costs and timing of the expansion of the Greenbushes Lithium Operations; exploration and development of the Salares 7 lithium project; costs and timing of future exploration; requirements for additional capital; government regulation of exploration, development and mining operations; environmental risks; reclamation and rehabilitation expenses; title disputes or claims; absence of significant risks relating to Talison's mining operations; the costs of Talison's hedging policy; sales risks related to China; currency; interest rates, and limitations of insurance coverage. While Talison considers these factors, estimates and assumptions to be reasonable based on information currently available to it, they may prove to be incorrect and actual results may vary.
Readers are cautioned that forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Talison and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risk factors include, amount others, those described in the unaudited condensed consolidated interim financial statements of Talison and the related notes thereto as at March 31, 2012 and for the nine months ended March 31, 2012 and under the heading "Risk Factors" in the annual information form of Talison for the year ended June 30, 2011 dated September 23, 2011, each of which can be found on Talison's SEDAR profile at www.sedar.com. While Talison considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect and actual results may vary.
Although Talison has attempted to identify statements containing important factors that could cause actual actions, event or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein is made as of the date of this press release based on the opinions and estimates of management on the date statements containing such forward-looking information are made. Except as required by law, Talison disclaims any obligation to update any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.

Contact Information

Talison Lithium
Frank Wheatley
Executive Director
+1 (604) 985 0528
www.talisonlithium.com

Macquarie Capital
Michael Ashforth
Executive Director
+61 (8) 9224 0644

Macquarie Capital
David Cobbold
Managing Director
+1 (416) 848 3654

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