Primero Provides Cerro Del Gallo Project Update

Primero Mining Corp.

is pleased to provide an update on its 69.2% owned Cerro del Gallo gold-silver-copper development project in Guanajuato, Mexico, following its acquisition in May 2013. Primero has reduced its estimated capital spending in 2013 for the Cerro del Gallo project to approximately $15 million (on a 100% ownership basis) in order to advance the project to a construction decision and expects to complete all outstanding permitting, land acquisition, basic engineering of the mine and the processing facilities, and a preliminary exploration program, including condemnation drilling, in 2013. The Company expects to make a construction decision early in the fourth quarter of 2013, with Cerro del Gallo potentially adding a minimum of approximately 95,000 gold equivalent ounces (on a 100% ownership basis) of annual production starting in mid-2015."Development of the Cerro del Gallo project is an important next phase for Primero," stated Joseph Conway, President & Chief Executive Officer of Primero. "Although the project offers the Company diversification and low-risk, low-cost growth in a mining friendly jurisdiction that we're very experienced in, we remain focused on maximizing shareholder value. Given the recent profound