Primero Closes Remaining Acquisition Of Cerro Del Gallo

 

TORONTO - Primero Mining Corp. reported the closing of its acquisition of the remaining 30.8% interest in its Cerro del Gallo development project, in Mexico, from a subsidiary of Goldcorp Inc.

The Cerro del Gallo gold-silver-copper development project was acquired by Primero in May 2013. It is currently the Company's only development project and has the potential to increase the Company's near-term production by approximately 95,000 gold equivalent ounces per year. The acquisition of the remaining 30.8% interest consolidates the Company's position, and extinguishes the joint venture agreement thereby reducing administrative costs and eliminating a potential 10% net profit interest.