Primero Mining Corp. (“Primero”
or the “Company”) (TSX:P)(NYSE:PPP) announced today it has
completed the repurchase of $1.9 million of its $50.0
million convertible senior unsecured debentures due March 31,
2016 (the “Debentures”). This represents 3.8% of the
outstanding aggregate principal amount of the Debentures, pursuant to its offer
to repurchase the Debentures announced on April 4, 2014. The
repurchased Debentures have been cancelled and $48.1 million
remain outstanding.

About Primero

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 jurisdictions. The Company is focused on becoming a leading
intermediate gold producer by building a portfolio of high quality, low cost
precious metals assets in the Americas.
Primero’s website is www.primeromining.com.

Contact Information:
Primero Mining Corp.
Tamara Brown VP, Investor Relations
(416) 814 3168
[email protected]
www.primeromining.com