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Brigus Gold and GLR Resources Agree on Equipment Contract

We recently bought shares of Brigus @ $1.88 using today’s close of $1.62 this means a 13,8% loss. The loss can be explained by tanking gold prices, the fundamentals have not changed, and we still consider Brigus to be a solid BUY.

Brigus News Release:

Halifax, Nova Scotia; and Kirkland Lake, Ontario – January 27, 2011– Brigus Gold Corp. (“Brigus”; TSX: BRD; NYSE Amex: BRD) and GLR Resources Inc. (“GLR”; CNQX: GLE) jointly announce that they have reached an agreement regarding the reimbursement by Brigus to GLR in connection with certain equipment originally ordered by GLR.  This equipment was related to Brigus’ wholly owned Goldfields Project in Saskatchewan. A predecessor company of Brigus had acquired the Goldfields Project from GLR.

Pursuant to the agreement, Brigus will issue to GLR 1,396,134 common shares of Brigus valued at CAN$2,443,235 based on a deemed price of CAN$1.75 per share and will make cash payments aggregating US$60,000.  The agreement is subject to receipt of requisite regulatory approvals and discontinuance of the outstanding legal action between Brigus and GLR.

Brigus intends to develop the Goldfields Project into a producing gold mine within the current schedule as early as 2013, pending a development decision by June 2011.

GLR is a Canadian‐based junior mining and exploration company focused on existing projects in Ontario and Quebec.

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 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 is also advancing the Goldfields Project located near Uranium City, Saskatchewan, Canada, which hosts the Box and Athona gold deposits. In Mexico, Brigus holds a 100% interest in the Ixhuatan Project located in the state of Chiapas, and a 3% NSR interest in the Huizopa Project, an early stage, gold-silver exploration project located in the state of Chihuahua.  In the Dominican Republic, Brigus Gold has a joint venture covering three mineral exploration projects.

Contact Information:

GLR Resources Inc.

Robert Kasner, President and Chief Executive Officer

Phone: (705) 567-5351

Brigus Gold Corp.

Wendy Yang, Vice President of Investor Relations

Phone: 720-886-9656 Ext. 217

E-mail: ir@brigusgold.com

Website: www.brigusgold.com
Cautionary and Forward-Looking Statements

This news release includes “Forward-Looking Statements” within the meaning of certain securities legislation.  All statements regarding the timing and decision of development for the Goldfields Project are forward-looking statements and estimates that involve various risks and uncertainties.  These statements are based on factors or assumptions that were applied in drawing a conclusion or making a forecast, including management’s best judgement based on current conditions and expected future developments. 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’ and its predecessor companies’ most recent annual report on Form 10-K filed with the United States Securities and Exchange Commission and elsewhere in Brigus’ documents filed from time to time with the Toronto Stock Exchange, the NYSE Amex, the United States Securities and Exchange Commission, on SEDAR, and other regulatory authorities.  All forward-looking statements included in this news release are based on information available to Brigus on the date hereof.  Brigus assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.

Halifax, Nova Scotia; and Kirkland Lake, Ontario – January 27, 2011– Brigus Gold Corp. (“Brigus”; TSX: BRD; NYSE Amex: BRD) and GLR Resources Inc. (“GLR”; CNQX: GLE) jointly announce that they have reached an agreement regarding the reimbursement by Brigus to GLR in connection with certain equipment originally ordered by GLR.  This equipment was related to Brigus’ wholly owned Goldfields Project in Saskatchewan. A predecessor company of Brigus had acquired the Goldfields Project from GLR.

Pursuant to the agreement, Brigus will issue to GLR 1,396,134 common shares of Brigus valued at CAN$2,443,235 based on a deemed price of CAN$1.75 per share and will make cash payments aggregating US$60,000.  The agreement is subject to receipt of requisite regulatory approvals and discontinuance of the outstanding legal action between Brigus and GLR.

Brigus intends to develop the Goldfields Project into a producing gold mine within the current schedule as early as 2013, pending a development decision by June 2011.

GLR is a Canadian‐based junior mining and exploration company focused on existing projects in Ontario and Quebec.

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 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 is also advancing the Goldfields Project located near Uranium City, Saskatchewan, Canada, which hosts the Box and Athona gold deposits. In Mexico, Brigus holds a 100% interest in the Ixhuatan Project located in the state of Chiapas, and a 3% NSR interest in the Huizopa Project, an early stage, gold-silver exploration project located in the state of Chihuahua.  In the Dominican Republic, Brigus Gold has a joint venture covering three mineral exploration projects.

Contact Information:

GLR Resources Inc.

Robert Kasner, President and Chief Executive Officer

Phone: (705) 567-5351

Brigus Gold Corp.

Wendy Yang, Vice President of Investor Relations

Phone: 720-886-9656 Ext. 217

E-mail: ir@brigusgold.com

Website: www.brigusgold.com
Cautionary and Forward-Looking Statements

This news release includes “Forward-Looking Statements” within the meaning of certain securities legislation.  All statements regarding the timing and decision of development for the Goldfields Project are forward-looking statements and estimates that involve various risks and uncertainties.  These statements are based on factors or assumptions that were applied in drawing a conclusion or making a forecast, including management’s best judgement based on current conditions and expected future developments. 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’ and its predecessor companies’ most recent annual report on Form 10-K filed with the United States Securities and Exchange Commission and elsewhere in Brigus’ documents filed from time to time with the Toronto Stock Exchange, the NYSE Amex, the United States Securities and Exchange Commission, on SEDAR, and other regulatory authorities.  All forward-looking statements included in this news release are based on information available to Brigus on the date hereof.  Brigus assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.

Source: Company website

Stock Pick: Brigus Gold (AMEX:BRD)

Today gold and silver finally entered a proper correction. We think prices will level now, and start climbing a bit day-by-day till the end of the year. This correction has given us the change to buy into two beautiful companies. Yesterday we announced our first pick Excellon Resources. Today we bought shares of Brigus Gold @ $1.88

Text from company website:

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. In 2010, the Black Fox Mine is expected to produce approximately 80,000-85,000 ounces of gold at a lower-than-average cash costs per ounce in the range of $500-$550 per ounce. Brigus expects gold production to grow to 180,000 ounces in the near future. Brigus Gold is also advancing the Goldfields Project located near Uranium City, Saskatchewan, Canada. Combined, Black Fox and the Goldfields Project contain over 2 million ounces of gold reserves. Brigus Gold also has a vigorous project pipeline including the Ixhuatan Project and the Huizopa Joint Venture in Mexico, and joint venture exploration projects in the Dominican Republic. Brigus Gold has a solid balance sheet with growing cash flow from operations.

Click here to download a company presentation of December 9, 2010