New High-Grade Vein Discovery at San Dimas

TORONTO, ON - Primero Mining Corp. reported the discovery of a new high-grade vein intersected by existing infrastructure at its San Dimas mine located in Durango, Mexico.

The new High-Grade Vein at San Dimas: Discovery of the Jessica vein in the Central Block, channel samples average 10.4 g/t gold and 1,606 g/t silver over 1.4 meters along 98 meters of exposed vein.

Also: Victoria Vein Further Defined: Drilling has further defined the Victoria vein as two narrower veins, recent intercepts include 49.7 g/t gold and 270 g/t silver over 1.1 meters (VIC14_324).

"Our exploration program continues to deliver strong results," stated Joseph F. Conway, Chief Executive Officer. "In 2014 we were successful at substantially replacing our depletion, not including the open-pit at Black Fox. At our platform San Dimas mine, we have consistently discovered new high-grade veins each year. This has resulted in a steady increase in its gold reserves and also its average gold reserve grade, by 62% and 27%, respectively, since 2011. The discovery of a high-grade Jessica vein under the volcanic capping that covers the northern portion of the San Dimas property, is significant as it confirms the prospectivity of the entire 22,500 hectare San Dimas property, notably the northern and eastern areas. The location of the Jessica vein is also important as it is connected to existing infrastructure. The Company has already developed along 98 meters of the vein and will include production from this vein in the 2015 mine plan as well as its 2015 year-end reserves and resources. Primero's continued exploration success at San Dimas led to the current expansion of the mill to 3,000 tonnes per day. With the mine and mill currently operating in excess of the existing name-plate capacity of 2,500 tonnes per day, the Company expects to increase production in 2015 to between 175,000 and 185,000 gold equivalent ounces. The Black Fox mine began an optimization program following its acquisition in March 2014. Delineation drilling in the open-pit identified fewer ounces than previously expected, while drilling at depth in the underground produced results that exceeded our expectations. We have already proven Mineral Resources down to at least 800 meters below surface, 300 meters deeper than when we acquired it. Exploration drilling at the nearby Grey Fox property resulted in a 20% increase in contained ounces in measured and indicated resources and gives us further confidence that this will be an additional ore source for the Black Fox mill."

The Company's 2015 $19 million exploration program is focused on delineation in the first half of the year. Assuming success, the Company may approve additional exploration expenditures for the second half of 2015. The 2015 exploration program currently comprises 130,000 meters of drilling and 1,350 meters of exploration drifting.