NEWS RELEASE
PRIMERO MINING CORP
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TORONTO - Primero Mining Corp. ("Primero" or the "Company") (TSX: P) (NYSE: PPP) today announces further extensions to the Deep Central Zone at the Company's Black Fox mine, located near Timmins, Ontario, Canada.
Primero additionally reports the expansion of the Froome zone, located approximately 1 kilometre west of the open-pit at its Black Fox Complex.
Highlights:
- Black Fox Continues to Grow at Depth: Wide intercepts demonstrate the continuation of high-grade mineralization at depth and include highlights of 16.0 grams per tonne ("g/t") gold over 11.9 metres (520-EX482-76) and 15.4 g/t gold over 10.9 metres (520-EX482-64) located over 800 metres below surface.
- Delineation Drilling Continues to Grow the High-Grade Deep Central Zone: Results from the Deep Central Zone including 10.9 g/t gold over 10.5 metres (580-F392-38A), 8.7 g/t gold over 9.1 metres (580-F392-37) and 9.2 g/t gold over 8.4 metres (580-F392-41) have given Primero increased confidence in the wide, high-grade mineralization characteristics of this zone.
- New Gold Zone Materializing at Black Fox: Recent drilling from the Froome zone, located 1 kilometre west of the Black Fox open-pit, include long mineralized intercepts of 5.1 g/t gold over 56.7 metres (15PR-G015),4.8 g/t gold over 52.4 metres (15PR-G007) and 5.1 g/t gold over30.9 metres (15PR-G013), demonstrating considerable continuity over long mineralized intervals.
- Gibson South Zone Shows Promise: Highlights include 5.2 g/t gold over 34.0 metres (GF15-1043), and 6.4 g/t gold over 7.0 metres (GF15-1045) at the Gibson South deposit, located 300 metres to the southwest of the Grey Fox Contact zone.
"Our 2015 exploration program at Black Fox continues to exceed expectations, reaffirming our original investment thesis that the high-grade gold mineralization is much more extensive than previously identified," commented Joseph F. Conway, Chief Executive Officer.
"Exploration drilling is already expected to have replaced our estimated full-year underground production at Black Fox, encouraging us that with continued success we'll be able to grow our resources beyond depletion this year. The extension of the Froome zone into a wide, continuous mineralized zone, located near the Black Fox mine confirms our belief that there remains significant exploration upside outside of the identified deposits at the Black Fox Complex."
Black Fox Continues to Grow at Depth
Today Primero announces additional drilling from the Black Fox mine, targeting the high-grade mineralization in the Deep Central Zone, located between the mine's 600 metre level and the 820 metre level.
Two exploration holes have encountered the deeper extensions of this mineralized zone, returning long intercepts including 16.0 grams per tonne ("g/t") gold over 11.9 metres (520-EX482-76) and 15.4 g/t goldover 10.9 metres (520-EX482-64).
Both intersections are located over 800 metres below surface.
Delineation drilling also targeting the Deep Central Zone continues to demonstrate wide intervals of high-grade mineralization.
Specific highlights include 10.9 g/t gold over 10.5 metres (580-F392-38A), 8.7 g/t gold over 9.1 metres (580-F392-37) and 9.2 g/t goldover 8.4 metres (580-F392-41).
The area remains open along strike and down dip and is expected to continue to expand with the results of additional exploration drilling.
About Primero
Primero Mining Corp. is a Canadian-based precious metals producer that owns 100 percent of the San Dimas gold-silver mine and the Cerro del Gallo gold-silver-copper development project in Mexico and 100 percent of the Black Fox mine and adjoining properties in the Township of Black River-Matheson near Timmins, Ontario, Canada.
Primero offers immediate exposure to un-hedged, below average cash cost gold production with a substantial resource base in politically stable jurisdictions.
The Company is focused on becoming a leading intermediate gold producer by building a portfolio of high quality, low cost precious metals assets in the Americas.
Primero's website is www.primeromining.com.
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