Primero Mining Corp. ("Primero" or the "Company") closed a previously announced $75 million revolving credit facility (the "Line of Credit") with a syndicate of lenders. The Line of Credit has a three year term, a floating interest rate that the Company expects to be approximately 4% per annum for the first six months and is secured by a charge over substantially all of the Company's assets. Coincident with and as a condition of closing the Line of Credit, the Company repaid the outstanding $27 million promissory note held by Goldcorp Inc. bearing interest of 6% and originally due December 31, 2015.

Primero Mining Corp. is a Canadian-based precious metals producer that owns 100% of the San Dimas gold-silver mine and the Cerro del Gallo gold-silver-copper development project in Mexico and 100% 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 jurisdiction.