Primero Announces Sale of Cerro Del Gallo Project

Primero Mining Corp. (“Primero” or the “Company”) (TSX: P) today announced that the Company has entered into an agreement (the “Agreement”) with Argonaut Gold Inc. (TSX: AR) (“Argonaut”) to sell its Cerro del Gallo development project (the “Project”) located in the state of Guanajuato in central Mexico (the “Transaction”).

As quoted in the press release:

Under the terms of the Agreement, Argonaut will acquire all of the issued and outstanding shares of San Anton Resource Corporation, the indirect owner of the Project, from Primero. In exchange, Primero will receive consideration of $15 million in cash.

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