Primero to Delist From the Australian Securities Exchange

Primero Mining Corp.

today announced that it has requested approval from ASX Limited for its removal from the official list of the Australian Securities Exchange. The Company expects that delisting of its CHESS Depositary Interests ("CDIs") will take place on or around three months from today, or the date approved by the ASX (whichever is the earlier). Following the expected delisting from the ASX, the common shares of Primero will continue to be listed on the New York Stock Exchange ("NYSE") and the Toronto Stock Exchange ("TSX").Background on Decision to Delist The Company's decision is based on the low volume of trading of its CDIs on the ASX compared to common shares on the TSX and NYSE. Since listing on the ASX in May 2013, the CDIs held on the Australian register have declined from approximately 14% of Primero's total issued share capital to less than 7% as at the date of this news release. As a result, Primero has determined that sustaining the administrative and compliance costs of an ASX listing is not in the interests of Primero and all of its shareholders and, accordingly, has