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Primero Closes Sale of Cerro del Gallo

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Primero Closes Sale of Cerro del Gallo
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México.- Primero Mining Corp. today announced that the Company has closed the previously disclosed sale of the Cerro del Gallo development project (the “Project”), via the sale of all of the issued and outstanding shares of San Anton Resource Corporation, the indirect owner of the Project to Argonaut Gold Inc.

Primero has received total consideration of $15 million. The proceeds net of closing costs will be used to permanently reduce the outstanding balance on the Company’s revolving credit facility.

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