Brigus Gold Reports Annual Production of 98,710 Ounces of Gold
HALIFAX, Jan. 13, 2014 /CNW/ - Brigus Gold Corp. ("Brigus" or the "Company") (NYSE: BRD) (TSX: BRD) is pleased to report annual production of 98,710 ounces of gold from its Black Fox mine, including fourth quarter production of 21,916 ounces of gold.
- Produced 98,710 ounces of gold in the year, including 21,916 ounces of gold in Q4 2013
- Sold 99,235 ounces of gold in the year, including 20,582 in Q4 2013
- Average grade of 4.34 gpt and average recovery of 93.9% for the year, including average grade of 3.53 gpt and average recovery of 93.5% in Q4 2013
- Throughput of 2,063 tonnes per day milled, 752,959 tonnes milled for the year, including throughput of 2,249 tonnes per day milled and 206,914 tonnes milled in Q4 2013
- Average realized gold price of $1,413 for the year, including $1,271 in Q4 2013 (Excludes the impact of sales under the Goldstream agreement)
As previously announced Brigus and Primero Mining Corp. ("Primero") have entered into an arrangement whereby Primero will acquire all outstanding common shares of Brigus pursuant to a plan of arrangement to create a diversified, Americas based mid-tier gold producer. This agreement represents a 45% premium to the closing price as at December 13, 2013 on the Toronto Stock Exchange. Brigus shareholders will own approximately 27% of the issued common shares of Primero on a proforma basis.
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 also owns the Goldfields Project located near Uranium City, Saskatchewan, Canada, which hosts the Box and Athona gold deposits. In the Dominican Republic, Brigus has signed an agreement to sell its remaining interests in three mineral exploration projects. In Mexico, Brigus owns the Ixhuatan Project located in the state of Chiapas.
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 40F 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.
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