Primero Receives ASX Approval for Delisting

Primero Mining Corp. ("Primero" or the "Company") today announced that the ASX Limited approved its request for removal from the official list of the Australian Securities Exchange as follows:

• Based solely on the information provided, ASX resolves to remove the Company from the official list of ASX at the request of the Company pursuant to listing rule 17.11 subject to the following conditions:
  • The Company must immediately announce to the market that ASX has agreed to the Company's request to be removed from the official list, and set out in that announcement the timetable for the suspension from official quotation of the Company's securities and the removal of the Company from the official list (the "Announcement").
  • As soon as possible after making the Announcement, the Company sends a letter to holders of CDIs, informing them of the Company's intention to be removed from the official list of ASX, and notifying them of the availability of the facility through which they may sell their shares on the TSX or NYSE.
  • The date on which the Company will be removed from the official list will be 30 December 2013 (the "Delisting date").
  • The Company's securities will be suspended from official quotation on 23 December 2013 (the "Suspension date").
  • The Company makes provision for there to be a facility through which holders of the Company's CHESS Depositary Interests ("CDIs") may sell their underlying shares on New York Stock Exchange ("NYSE") and the Toronto Stock Exchange ("TSX") through an ASX participating organisation for a period of not less than three months after the Delisting date.
  • The Company immediately releases to the market the full terms of this decision.
• ASX has considered listing rule 17.11 only and makes no statement as to the Company's compliance with other listing rules.

Macquarie Capital Markets Canada Ltd. will act as the broker to Primero in connection with the Voluntary Sale Facility and Compulsory Sale Facility to be implemented in connection with the delisting by the Company of its CDIs currently listed on the ASX.

Further details of the proposed delisting process will be mailed to CDI holders and posted on Primero's website in due course. Following the expected delisting from the ASX, the common shares of Primero will continue to be listed on the NYSE and the TSX.