Halifax, Nova Scotia; August 16, 2010– Brigus Gold Corp. (“Brigus Gold” or the “Company”) (TSX and NYSE Amex: BRD) generated net cash flow from operations of $11.4 million and operating income of $4.6 million for the second quarter of 2010 (“Q2 2010”), as the Black Fox Mine and Mill continue to benefit from operating improvements and efficiencies.

During Q2 2010, Brigus Gold sold 18,430 ounces of gold at total cash costs of $448 per ounce. This is a 14% increase in sales and a 29% decrease in costs per ounce compared to the first quarter of 2010 (“Q1 2010”). (All dollars in this news release are in U.S. dollars unless otherwise noted.)

Q2 2010 and to date highlights include:

• Gold production of 18,028 ounces at an average throughput ore grade of 3.4 grams of gold per tonne, both improved by 27% over Q1 2010;
• Black Fox underground development commenced in Q2 2010 with ore production expected to begin in August of 2010;
• Corporate rebranding with the launch of the Brigus Gold name following completion of the merger of Apollo Gold Corporation and Linear Gold Corp. on June 25, 2010 (the “Merger”);
• Total project debt was reduced by $18 million from $60 million to $42 million in Q2 2010; for the year-to-date, the project debt was reduced by $28 million from $70 million to $42 million;
• Cash and restricted cash balances at June 30, 2010 of $22.2 million;
• Completion of a private placement of 10 million flow-through common shares at Cdn$1.40 per share on July 29, 2010 for aggregate gross proceeds of Cdn$14 million. Proceeds will fund exploration and development activities at the Black Fox Complex.

Commenting on the results, Wade K. Dawe, Chairman, Chief Executive Officer and President of Brigus Gold, said, “These positive second quarter 2010 results are a direct result of improvements and progress at the Black Fox Mine. For the remainder of the year, we expect to see continued quarter-over-quarter increases in gold production and ore grades, and this will have a positive impact on our operating and financial results during the second half of 2010.”

Total cash costs improved during Q2 2010 to $448 per ounce of gold compared with $631 per ounce in Q1 2010 primarily as a result of the higher ore grade processed. Q2 2010 total production costs, which include depreciation and accretion for accrued site closure costs, were $676 per ounce, compared to $861 in Q1 2010.

In Q2 2010, gold sales were 18,430 ounces, including 3,872 ounces of gold (21%) sold into the spot market at an average gold price of $1,237 per ounce. During the second quarter of 2009, only 5,043 ounces were sold as the Black Fox Mine commenced production in May 2009.

Financial Overview

For Q2 2010, the Company reported a net loss of $19.7 million, primarily due to the impact of non-cash losses on derivative and financial instruments, which more than offset the Company’s $4.6 million of operating income. The quarter’s results include a non-cash, unrealized loss of $23.9 million on derivative instruments related mainly to the change in fair value of the outstanding gold forward sales contracts.

Although Brigus Gold is a Canadian company, it currently files reports with the U.S. Securities and Exchange Commission (“SEC”) in accordance with the requirements applicable to a U.S. domestic reporting company. In order to simplify its reporting requirements in the U.S. while maintaining the availability of information to U.S. shareholders and investors, the Company will file its reports and other filings under the Securities Exchange Act of 1934, as amended, and the Securities Act of 1933, as amended, in accordance with the requirements of SEC applicable to foreign private issuers. As a result, going forward, the Company will no longer file Annual Reports on Form 10-K, Quarterly Reports on For 10-Q or Current Reports on Form 8-K in the U.S. Instead, the Company will file its future annual reports on Form 20-F or Form 40-F and its future quarterly and current reports on Form 6-K. There will be no change to the filings for the Company in Canada.

Capital Expenditures and Underground Development Update

Capital expenditures for Q2 2010 were $6.6 million. During Q2 2010, significant infrastructure upgrades related to the commencement of development of the underground mine at Black Fox were completed, including the administration and technical offices, change house, and sample preparation and core logging facilities. Work has commenced to construct a maintenance shop on surface. For the underground mine, work to establish ventilation, power and compressed air is in progress. Underground development is progressing, with 410 metres (“m”) of advance completed to date.

In advance of underground development and mining, rehabilitation of the existing ramp and excavation of a 4.5 m diameter ventilation raise were recently completed. Initial mining of ore will be carried out by contractors during development, with the first ore expected in August 2010. The Company plans to mine underground ore using its own equipment and employees as development advances and new equipment arrives.

Underground production rates are expected to increase gradually to a steady rate of production of 800 tonnes per day (“tpd”) in March 2011. At that steady rate of production, underground mined ore with expected higher grade (+7 grams of gold per tonne average) will account for 40% of the Black Fox Mill design throughput rate. The remainder of throughput will be from open pit ore.

At the Black Fox open pit mine, Phase 2 overburden removal began recently in preparation for Phase 2 production in late 2010. Stripping has been progressing on schedule and is expected to be completed mid 2011.

Exploration Overview

To date in 2010, the Company has completed 25 holes using two surface core drill rigs at the Company’s 17-square-kilometre property package, which is contiguous with and along strike of the Black Fox deposit, located on the renowned Destor-Porcupine Fault Zone. Assays are pending with results from this ongoing drill program to be announced at regular intervals moving forward. The Company plans on adding a third surface rig in September 2010.

Early in the fourth quarter of 2010, the Company expects to begin advancing the 235 m level underground drift at Black Fox to the southeast. With the extension of the 235-m level drift, a fourth drill rig will be added to target resource additions from underground platforms.

Other Business & Board of Directors Update

Brigus Gold and Everton Resources Inc. recently amended the joint venture option agreements related to the three exploration projects in the Dominican Republic. Brigus Gold and Everton hold 50-50% interests in the Ampliacion Pueblo Viejo (“APV”) and Loma El Mate projects, which are managed by Everton and are contiguous with Barrick’s and Goldcorp’s Pueblo Viejo gold project. Under the amended agreements, Everton has the right to earn an additional 20% interest in each of the projects by investing an additional $2.5 million in exploration at APV and $1 million in Loma El Mate. Everton was also granted a one-year extension, until April 10, 2011, to incur exploration expenditures of $450,000 to earn its initial 50% interest on the Loma Hueca property.

At the first meeting of Brigus Gold’s Board of Directors on August 5, 2011, the Board appointed Daniel F. Gallivan, an attorney with Cox & Palmer in Halifax, Nova Scotia, as Corporate Secretary of the Company and ratified Mr. Dawe as chairman and Charles E. Stott as the independent lead director. The Board also established and elected the following committees:

Audit Committee

• David W. Peat, committee chairman
• Derrick Gill
• Marvin K. Kaiser

Health, Safety & Environment Committee

• Mr. Stott, committee chairman
• Michael Gross
• Mr. Kaiser

Nominations & Compensation Committee

• Mr. Gross, committee chairman
• Mr. Gill
• Mr. Stott

Outlook

As described in the news release of July 14, 2010, total gold production for 2010 is forecast at 85,000 ounces at total cash costs of between $500 and $550 per ounce. Gold production is expected to increase through the remainder of 2010 to approximately 24,000 ounces in Q3 2010 and 28,500 ounces in Q4 2010, of which estimated initial underground ore production in 2010 is approximately 7,000 ounces.

The Qualified Person who reviewed the above technical information related to the Black Fox Mine and Mill is Chief Operating Officer and Vice President Rick Allan.

About Brigus Gold

Brigus Gold 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 in the Timmins gold district of Ontario, Canada. The Black Fox Complex encompasses the Black Fox Mine and Mill, and adjoining Grey Fox-Pike River property, all in the Township of Black River-Matheson, Ontario, Canada. Brigus Gold is also advancing the Goldfields Project located near Uranium City, Saskatchewan, Canada, which hosts the Box and Athona gold deposits. In Mexico, Brigus Gold holds a 100 percent interest in the Ixhuatan Property located in the state of Chiapas, and the Huizopa Joint Venture, an 80 percent interest in an early stage, gold-silver exploration joint venture located in the State of Chihuahua. In the Dominican Republic, Brigus Gold and Everton Resources have a joint venture for the APV and Loma El Mate gold exploration projects.

Contact Information:

Wendy Yang, Vice President of Investor Relations

Phone: 720-886-9656 Ext. 217 Toll Free: 1-877-465-3484

E-mail: info@brigusgold.com