Primero Announces Secondary Offering by Goldcorp

Primero Mining

announced today that it has entered into an engagement letter together with its shareholder Goldcorp

and a syndicate of underwriters. Pursuant to the engagement agreement, the Underwriters have agreed to purchase 8,422,460 common shares of Primero currently held by Goldcorp on a bought deal basis at an offering price of C$5.25 per share. Goldcorp currently owns, as of the date hereof, 39,573,660 common shares of Primero representing in the aggregate 40.9% of the issued and outstanding common shares of Primero. After giving effect to this offering, Goldcorp will own 31,151,200 common shares of Primero, representing approximately 32.2% of the outstanding common shares of Primero. Primero will not receive any proceeds from this offering. All of the expenses of the offering will be paid by Goldcorp. The remaining 31,151,200 common shares of Primero held by Goldcorp upon completion of the offering will continue to be held by Goldcorp subject to the original three year lock-up period that commenced on August 6, 2010.A preliminary short form prospectus relating to the offering will be filed by no later than September 24, 2012 with