Acquisition of Cerro Del Gallo

1. TSX:P NYSE:PPP
Focused on Production
Focused on Growth
Acquisition of Cerro Del Gallo
December 2012

2. Cautionary Statement
This presentation may contain “forward-looking” statements within the meaning of Canadian securities legislation and the United States Private Securities
Litigation Reform Act of 1995. Forward-looking statements relate to future events or the anticipated performance of the Company and reflect
management’s expectations or beliefs regarding such future events and anticipated performance. In certain cases, forward-looking statements can be
identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, ”estimates”, ”forecasts”, ”intends”, ”anticipates” or
“believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, ”could”, “would”, ”might”, or “will be
taken”, “occur” or “be achieved”, or the negative of these words or comparable terminology. By their very nature forward-looking statements involve
known and unknown risks, uncertainties and other factors which may cause the actual performance of the Company to be materially different from any
anticipated performance expressed or implied by the forward-looking statements. Such factors include various risks related to the Company’s operations,
including, without limitation, fluctuations in spot and forward markets for gold, silver and other metals, fluctuations in currency markets, changes in
national and local governments in Mexico and the speculative nature of mineral exploration and development, risks associated with obtaining necessary
exploitation and environmental licenses and permits, and the presence of laws that may impose restrictions on mining. A complete list of risk factors are
described in the Company’s annual information form and will be detailed from time to time in the Company’s continuous disclosure, all of which are, or will
be available, for review on SEDAR at www.sedar.com.
This presentation uses the terms “measured resources”, “indicated resources” and “inferred resources”. The Company advises readers that although these
terms are recognized and required by Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI43-101”)),
the United States Securities and Exchange Commission does not recognize them. Readers are cautioned not to assume that any part or all of the mineral
deposits in these categories will ever be converted in to reserves. In addition, “inferred resources” have a great amount of uncertainty as to their existence,
and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category.
Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, or economic studies, except for
a Preliminary Assessment as defined under NI43-101. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically
or legally mineable.
Although the Company has attempted to identify important factors that could cause actual performance to differ materially from that described in forward-
looking statements, there may be other factors that cause its performance not to be as anticipated. The Company neither intends nor assumes any
obligation to update these forward-looking statements or information to reflect changes in assumptions or circumstances other than required by applicable
law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from
those currently anticipated. Accordingly, readers should not place undue reliance on forward-looking statements.
Unless otherwise indicated, all dollar values herein are in US$.
TSX:P | NYSE:PPP 2

3. The New Primero
Increases Production1
 Solid Production Base: (Gold Equivalent Ounces)
Primero Cerro Del Gallo 260
 Long-life, high-grade producing San Dimas mine 220
99
 Combines with advanced stage Cerro Del Gallo gold- 165 59
silver-copper project 130
110
 Strong Financial Position 130
165 161 161
110
 Internally funded development of Cerro Del Gallo
2012E 2013E 2014E 2015E 2016E
 Capital available for additional opportunities
Doubles Reserves and Triples
Resources2
 Large Reserve and Resource Base (Million Gold Equivalent Ounces)
Primero Cerro Del Gallo
 1.7 million AuEq. oz P+P Reserves and over 3.1 million 3.1
AuEq. oz M+I Resources3 2.3
 Experienced management & board 1.7
1.0
 Substantial exploration upside at both projects
0.9
0.8
1. Primero’s gold equivalent reserves and resources are adjusted for the Silver Purchase agreement.
2. Based on 100% ownership of Cerro Del Gallo. Gold Equivalency based on long-term consensus prices of Gold
$1,350/oz, Silver $23.25/oz, Copper $7,447/t.
3. M+I Resources include Reserves. P+P M+I 3
TSX:P | NYSE:PPP 3

4. Transaction Rationale
 Diversifies Primero from a single asset company to a multi-mine producer in
Mexico
 Delivers on Primero’s strategy of growth in low risk regions of the Americas
 Strengthens growth profile and cash flows
 Significantly increases reserves and resources
 Utilizes Primero’s strong balance sheet and cash flows sufficient to fund Cerro
Del Gallo development and additional opportunities
 Additional exploration upside
 Builds on position of regional strength in Mexico
 Exceptional re-rating opportunity driven by compelling valuation, growth
potential, transaction rationale and management track record
TSX:P | NYSE:PPP 4

5. Favourable Market Conditions
 The natural exchange ratio between Primero and Cerro shares has moved in Primero’s
favour since March 2012.
Implied Share Exchange Ratio1 Relative Share Price Performance2
150%
Primero
0.060
Cerro
0.050 100%
0.040
50%
0.030
0.020
0%
0.010
0.000 -50%
Dec 11 Jun 12 Dec 12 Dec 11 Jun 12 Dec 12
1. Based on TSX and ASX trading data volume weighted average trading as of December 12, 2012.
2. Based on TSX and ASX closing share price performance as of December 12, 2012.
TSX:P | NYSE:PPP 5

6. Focus on Low Risk Regions in the Americas
Builds on Established Presence in Mexico
Corporate Offices
San Dimas Mine
Gold-Silver Mine
Durango, Mexico
 Politically stable
 Long mining history
 One of world’s largest metals
producers Ventanas Property
Exploration Property
Durango, Mexico
 Excellent infrastructure
Cerro Del Gallo Project
 Experienced workforce Gold-Silver-Copper Development Project
Guanajuato, Mexico
TSX:P | NYSE:PPP 6

7.  Attractive long-life, precious metals project:
Enhanced
Growth  Diversifies near term production with additional 95,000 AuEq. oz per year
 Doubles Reserves and Triples Measured and Indicated Resources
Mexico  Leverages Primero’s regional expertise and solidifies position
Consolidation in Mexico, with further consolidation opportunities
Attractive  Accretive to Primero on key metrics
Valuation  Attractive total acquisition costs
Asset  Asset diversification reduces risk and volatility in cash flow
Diversification and earnings
Re-Rating  Provides opportunity to participate in valuation re-rating as
Opportunity the combination diversifies production and cash flows
TSX:P | NYSE:PPP 7

8. Attractive  Offer represents an implied premium of 62% to the 20 trading
Premium day VWAP as at December 12, 2012
Improved
Market  Significantly improved market presence and liquidity
Presence
Financing CDG  Immediate exposure to strong balance sheet and cash flow
Development  Expected internally funded development of Cerro Del Gallo
Enhanced
 Primero brings a management team with proven mine
Operational
Expertise construction, operations and exploration expertise
Re-Rating  Provides opportunity to participate in valuation re-rating as
Opportunity the combination diversifies production and cash flows
Participation  Ongoing 80.01% participation in funded non Cerro Del Gallo
in Spinco exploration assets
TSX:P | NYSE:PPP 8

9.  Cerro shareholders to receive 0.023 of a Primero share for each Cerro share and 80.01% in
“Spinco”
 Friendly scheme of arrangement
Terms  Cerro options to be rolled over into Primero options at a ratio of 0.023 of a Primero share
for each Cerro share with corresponding upward adjustment to exercise price
 Pro forma ownership: 85% Primero / 15% Cerro Resources
 Implied share consideration of C$0.152 per Cerro share outstanding, as of December 12,
2012 close
 Additional 80.01% of Spinco with non-Cerro Del Gallo assets plus approximately $4 million
in cash
Consideration Offer  Implied total transaction size of C$119 million
 Offer, excluding value of Spinco exploration assets, implies a 62% premium over the 20
trading day VWAP for both companies and an 77% premium based on the closing price of
Cerro Resources shares on December 12, 2012
 Exclusivity: No solicitation by Cerro and Primero has right to match
Other Terms
 11% of Cerro Resources shares subject to support agreements
 Cerro Resources shareholder vote (75% approval by at least 50% of Cerro shareholders)
Conditions  Primero does not require a shareholder vote
 Customary regulatory and court approvals
 Cerro Resources Information Circular expected by late January 2013
Indicative Timetable  Cerro Resources shareholder vote expected in April 2013
 Closing expected in early May 2013
TSX:P | NYSE:PPP 9

10. As at December 12, 2012 Primero Cerro New Primero
Share Price (C$) $6.63 $0.092 $6.63
Shares Outstanding – Basic1 96.7 million 781.9 million 114.7 million
Shares Outstanding - FDITM1 105 million 783.1 million 122.9 million
Market Capitalization - Basic1 $641.1 million $69.9 million $760.4 million
Market Capitalization - FDITM1 $696.1 million $74.4 million $814.8million
Cash2 $133.1 million $3.7 million $136.8 million
Debt2 $45.0 million - $45.0 million
Source: Public market disclosure as at December 12, 2012; AUD/CAD exchange rate of 0.9636 assumed.
1. Based on closing prices as of December 12, 2012 on the TSX and ASX and share capital as of September 30, 2012, adjusted for subsequent events.
2. Based on Balance sheet data as of September 30, 2012, not adjusted for Spinco cash of approximately $3 million.
TSX:P | NYSE:PPP 10

11. Strong Production Growth
Combined Production Expected to Increase to at least 260,000 AuEq. Oz in 2016
Estimated Production Profile1,2
(Attributable 000 AuEq ounces)
Primero Cerro Del Gallo
58% 260
33% 220
99
59
165
130
110
165 161 161
130
110
2012E 2013E 2014E 2015E 2016E
1 . “Gold equivalent ounces” include silver and copper production converted to a gold equivalent based on consensus estimated commodity prices ; accounts for
the San Dimas silver purchase agreement; and uses Cerro Resources publically disclosed production estimates delayed by 12 months.
2. Assumes 100% ownership of Cerro Del Gallo.
TSX:P | NYSE:PPP 11

12. New Primero Attributable Gold Equivalent Reserves and Resources1,2
(million gold equivalent ounces)
Cerro Del Gallo Primero
+261%
3.1
+133%
1.7
1.2
1.2
2.3
1.0
0.9
0.8
P+P M+I 3 Inferred
1. Primero’s gold equivalent reserves and and resources are adjusted for the silver purchase agreement and only attributable silver ounces to Primero are included.
29% of all silver reserves and resources for San Dimas are considered attributable.
2. Based on 100% ownership of Cerro Del Gallo. Gold Equivalency based on long-term prices per ounce: Gold $1,350, Silver $23.25, Copper $7,447.
3. M+I Resources include Reserves.
TSX:P | NYSE:PPP 12

13. 2015E Gold Equivalent Production1
(Thousand Gold Equivalent Ounces)
427
327
286
237
220
219
188
161
148 142
59
B2Gold Alamos AuRico Argonaut New Primero Lakeshore Primero Timmins Aurizon Cerro
1 . Based on available analyst estimates except Primero and Cerro Resources, which is based on Management estimates.
TSX:P | NYSE:PPP 13

14. P/CF (2015E)1
10.5x
8.6x
7.7x
7.3x
5.9x 5.8x
5.9x
4.4x
4.2x
1.7x
1.1x
AuRico Alamos Argonaut Aurizon Timmins B2Gold Primero New Primero Lakeshore Cerro
1 . Based on available analyst estimates except Primero and Cerro Resources, which is based on Management estimates.
TSX:P | NYSE:PPP 14

15. Gold Equivalent Reserves1
(Million Gold Equivalent Ounces)
5.12
3.92
3.17
2.38
2.12
1.73
1.33
1.22
0.98
0.83 0.75
AuRico B2Gold Aurizon Alamos New Primero Timmins Argonaut Cerro Lakeshore Primero
1 . Based on available analyst estimates except Primero and Cerro Resources, which is based on Management estimates.
TSX:P | NYSE:PPP 15

16. Overview of Primero
& Cerro Resources Assets
TSX:P | NYSE:PPP 16

17. Focus on Low Risk Regions in the Americas
Builds on Position of Regional Strength in Mexico
San Dimas Mine1,2,3
Corporate Offices 2012E Production: 110,000 AuEq.oz
2P Reserves: 770kAuEq.oz
M&I Resources: 890kAuEq.oz
Inferred Resources: 1,225kAuEq.oz
Ventanas Property
M&I Resources: 34kAuEq.oz
Inferred Resources: 70kAuEq.oz
Cerro Del Gallo Project3
Est. Production Start: 2015E
2P Reserves: 980kAuEq.oz
M&I Resources: 2,250kAuEq.oz
1. San Dimas’s gold equivalent reserves and resources are adjusted for the Silver Purchase agreement.
2. Gold Equivalency based on long-term prices per ounce: Gold $1,350, Silver $23.25, Copper $7,447.
3. Assumes 100% ownership of Cerro Del Gallo. M&I Resources include Reserves. TSX:P | NYSE:PPP 17

18. San Dimas Mine, Durango
One of Mexico’s Most Significant Precious Metals Deposits
Highlights
 $133 million in cash at September 30, 2012
 Estimated $120 million per year in after-tax
operating cash flow over next five years
 Expansion announced to increase from
current capacity of 2,100TPD to 2,500TPD
 Potential further expansion to 3,000TPD
TYPE Underground, Cut and Fill/CIL possible
P+P Reserves1 770kAuEq.oz  Discovered two new high-grade veins in 2012
M+I Resources1 (inclusive of P+P) 890kAuEq.oz
 Positive tax ruling, ensuring the mine can pay
Inferred Resources1 1,225kAuEq.oz income taxes on realized revenue
9 month 2012 Production2 84,829 AuEq.oz
1. San Dimas’ gold equivalent reserves and resources are adjusted for the Silver Purchase
agreement. Reserve and Resource gold equivalency based on long-term prices per ounce
9 month 2012 Cash Cost3 $624/AuEq.oz of Gold $1,350, Silver $23.25, Copper $7,447.
2. “Gold equivalent ounces” include revenue from silver converted to a gold equivalent
2012E Production2 110,000-120,000 AuEq.oz based on realized or consensus estimate pricing ($1,600 per ounce of gold and $9.41 per
ounce of silver in full year 2012, consensus prices thereafter).
3. Cash cost is a non-GAAP measure. Refer to the third quarter 2012 MD&A for a
2012 Cash Cost3 $610-$640/AuEq.oz reconciliation of cash costs.
TSX:P | NYSE:PPP 18

19. San Dimas Reserves and Resources
At June 30, 2012
Classification Tonnage Gold Grade (g/t) Silver Grade Contained Gold Contained Silver
(MINERAL RESOURCES (million tonnes) (g/ t) (000 ounces) (000 ounces)
INCLUDE MINERAL
RESERVES)
Mineral Reserves
Probable 3.785 4.8 290 584 34,700
Mineral Resources
Indicated 3.193 6.6 400 678 40,630
Inferred 6.865 4.0 300 866 67,500
Notes to Reserve Statement:
1. Cutoff grade of 2.52g/t gold equivalent (“AuEq”) based on total operating cost of US$98.5/t. Metal prices assumed are gold US$1,250 per troy ounce and silver
US$20 per troy ounce. Silver supply contract obligations have been referenced in determining overall vein reserve estimate viability.
2. Processing recovery factors for gold and silver of 97% and 94% assumed.
3. Exchange rate assumed is 13 pesos/US$1.00.
4. The Mineral Reserve estimates were prepared by Mr. Herbert A. Smith P.Eng. of AMC Mining Consultants (Canada) Ltd. and a QP for the purposes of National
Instrument 43-101 (“NI 43-101”).
Notes to Resource Statement:
1. Mineral Resources are total and include those resources converted to Mineral Reserves.
2. A 2g/t AuEq cutoff grade is applied and the AuEq is calculated at a gold price of US$1,400 per troy ounce and a silver price of US$25 per troy ounce.
3. A constant bulk density of 2.7 tonnes/m3 has been used.
4. The Mineral Resource estimates were prepared by Mr. Rodney Webster MAusIMM, MAIG and Mr. J. Morton Shannon P.Geo., both of AMC Mining Consultants
(Canada) Ltd. and a QP for the purposes of NI 43-101.
Additional exploration potential estimated at 6-10 million tonnes at grade ranges of 3-5 grams per tonne
of gold and 200-400 grams per tonne of silver.
It should be noted that these targets are conceptual in nature. There has been insufficient exploration to
define an associated Mineral Resource and it is uncertain if further exploration will result in the target
being delineated as a Mineral Resource.
TSX:P | NYSE:PPP 19

20. Cerro Del Gallo Project, Guanajuato
Overview
 Open pit, heap leach gold-silver-copper project
 Large resource base relative to reserves
 Excellent local infrastructure in a region known
to actively support mining
 Two phased development plan with estimated
1.3 million ounces recovered over 15 year mine
life1
 Phase I heap leach facility with SART metallurgical processing to recover silver and copper
 Commercial Production of Phase I expected in 2015
 Future Phase II incorporates Carbon In Leach (CIL) and presents optimization opportunity
1. Cerro Resources Phase I Definitive Feasibility Study as of May 2012 and Phase II Preliminary Economic Assessment as of May 2011.
2. Gold equivalent ounces estimated by Cerro Resources include revenue from silver and copper converted to a gold equivalent based three year historic prices of
Gold $1,341/oz, Silver $25.58/oz and Copper $7,582/tonne.
3. Cash cost is a non-GAAP measure as estimated by Cerro Resources and include costs for mining, processing, metal transport and refining and administration but
do not include capital costs or royalties (4%).
TSX:P | NYSE:PPP 20

21. Cerro Del Gallo
Cerro Resources Technical Details
Phase I Heap Leach (Source: Cerro Resources Definitive Feasibility Study June 2012)
Heap Leach Grades 0.69 g/t Au, 14.8g/t Ag, 0.08% Cu
Strip Ratio1 0.91
Capital Costs $154 million Primero to complete its own
Operating Costs2 $514/AuEq.oz optimization studies
Phase I Life of Mine (LOM) 7.2 years
Phase I Average Annual Production3 94,600 AuEq.oz
Permitting To be completed in 2013
Phase I + II Heap Leach and CIL (Source: Cerro Resources Preliminary Economic Assessment May 2011)
CIL Gold Grades 0.67 g/t Au, 14.2g/t Ag, 0.09% Cu
Strip Ratio 0.74
Capital Costs4 $237 million
Operating Costs $549/AuEq.oz
Phase I + II Life of Mine (LOM) 14.2 years
Phase I + II Average Annual Production5 90,000 AuEq.oz
1. 9 million tonnes of ‘fresh’ material expected to be mined during Phase I for processing in Phase II. The material has been treated as ‘waste’ material for purposes of
calculating the Phase I LOM strip ratio.
2. Cash cost is a non-GAAP measure as estimated by Cerro Resources and include costs for mining, processing, metal transport and refining and administration but do not
include capital costs or royalties (4%).
3. Gold equivalent ounces estimated by Cerro Resources include revenue from silver and copper converted to a gold equivalent based three year historic prices as of
Definitive Feasibility Study of June 2012, of Gold $1,341/oz, Silver $25.58/oz and Copper $7,582/tonne.
4. Based from $154 million capital estimate from DFS, June 2012, the balance $83 million from the PEA, May 2011.
5. Gold equivalent ounces estimated by Cerro Resources include revenue from silver and copper converted to a gold equivalent based on two year historic prices as of
Preliminary Economic Assessment of April 2011, of Gold $1,571/oz and Silver $19.81/oz.
TSX:P | NYSE:PPP 21

22. Cerro Del Gallo Large Gold Domain Resource
 Cerro Del Gallo hosts a 209 million tonne gold domain measured and indicated resource
containing 3.2 million ounces of gold or 5.58 million ounces of gold equivalent1
1. As estimated by Cerro Resources using gold, silver and copper price of US$1,341/oz, US$25.58/oz and US$7,582/t (or $3.44/lb) respectively. See Golder
Associates Technical Report, 2008.
TSX:P | NYSE:PPP 22

23. CERRO DEL GALLO
RESERVES AND IN-PIT RESOURCES1
Total Resources Within the Gold Domain - 20082
M Tonnes Au Au Ag Ag Cu Cu Au Eq* AuEq
Category
(g/t) (M ozs) (g/t) (M ozs) (%) (M lbs) (g/t) (M oz)
Measured & Indicated 209.0 0.48 3.22 11.0 70.3 0.08 396.9 0.83 5.58
Inferred 20.0 0.30 0.19 7.0 4.5 0.09 39.7 0.59 0.38
1. Gold equivalent ounces calculated by Cerro Resources using gold, silver and copper prices of US$1,341/oz, US$25.58/oz and US$7,582/t respectively.
2. These resources are reported using internal cut-off grade of 0.2 g/tAu as per Golder Associates Technical Report, 2008.
Phase I Heap Leach In-pit Proven and Probable Reserves – DFS June 20123
M Tonnes Au Au Ag Ag Cu Cu Au Eq* AuEq
Category
(g/t) (M ozs) (g/t) (M ozs) (%) (M lbs) (g/t) (M oz)
Proven & Probable 32.2 0.69 0.71 14.8 15.3 0.08 56.4 1.11 1.15
3. These reserves are reported using internal cut-off grades of 0.24 and 0.29 gAuEq/t for weathered and partially oxidized, respectively.
Phase II In-pit Resources (excluding P+P Reserves) – PEA May 20114
M Tonnes Au Au Ag Ag Cu Cu Au Eq* AuEq
Category
(g/t) (M ozs) (g/t) (M ozs) (%) (M lbs) (g/t) (M oz)
Measured & Indicated 47.9 0.60 0.92 13.3 20.5 0.10 103.4 1.03 1.58
4. These resources are reported using internal cut-off grades of 0.24, 0.29, and 0.34 gAuEq/t for weathered, partially oxidized, and fresh material
respectively.
TSX:P | NYSE:PPP 23

24. Cerro Del Gallo Development Plan
2013 2014 2015
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Detailed
Engineering
Geotechnical
Permitting/Land
Acquisition
Earth Works
Mill Tests
Acid Generation
Tests
SART
Optimization
Plant & Mill
Construction
Estimated Transaction Closing
Production
Commissioning
Commercial
Production
Phase II
Feasibility Study
TSX:P | NYSE:PPP 24

25. Cerro Del Gallo Exploration Upside Potential
Potential Exploration Targets
Early stage regional prospecting
previously returned1:
 1.5m @ 590g/t Ag and 3.40g/t Au
 4.6m @ 428g/t Ag and 3.52g/t Au
 3.6m @ 359g/t Ag and 1.57g/t Au
 4.6m @ 239g/t Ag and 1.91g/t Au
 6.0m @ 243g/t Ag and 1.70g/t Au
 3.1m @ 200g/t Ag and 1.05g/t Au
 7.6m @ 168g/t Ag and 1.51g/t Au
1. As reported by Cerro Resources.
TSX:P | NYSE:PPP 25

26. Transaction Summary
 Creates a diversified, high growth, low cost producer in Mexico with further
consolidation opportunities
 Strengthens growth profile and cash flows with estimated production of
260,000 Au Eq. ounces by 2016
 Combined attributable proven and probable reserves of approximately 1.7
million Au Eq. ounces and measured and indicated resources of 3.1 million Au
Eq. ounces
 Strong balance sheet with cash flows sufficient to fund development growth
 Significant additional exploration upside
 Solidifies and leverages Primero’s established presence in Mexico
 Delivers on strategy of delivering value to shareholders through low risk
exposure to precious metals in the Americas
 Attractive acquisition metrics and accretive on key measures
 Limited dilution of only 15% to Primero shareholders
TSX:P | NYSE:PPP 26

27. TSX:P NYSE:PPP
Focused on Production
PRIMERO MINING CORP.
20 Queen Street West, Suite 2301
Focused on Growth
Tamara Brown
Vice President, Investor Relations
Toronto, ON M5H 3R3 T 416 814 3168
T 416 814 3160 F 416 814 3170 info@primeromining.com
TF 877 619 3160
www.primeromining.com Trading Symbols
Common Shares TSX:P, NYSE:PPP
Warrants TSX:P.WT

28. Appendices
TSX:P | NYSE:PPP 28

29. Executive Management
Joseph F. Conway | President & C.E.O. 1 Tamara Brown | VP Investor Relations
 Former CEO, President and Director of IAMGOLD  Former Director Investor Relations for IAMGOLD
from 2003 to 2010  Former Partner of a Toronto based, boutique
 Former President, CEO and Director of Repadre investment bank; Professional engineer in mining
Capital from 1995 to 2003 industry
Renaud Adams | C.O.O. H. Maura Lendon | VP, Chief General Counsel and
Corporate Secretary
 Former SVP, American Operations for IAMGOLD
 Former General Manager of Rosebel Gold Mine  Former Senior Vice President, Chief Legal Officer
2007 to 2010 and Corporate Secretary of HudBay Minerals Inc.
 Former General Manager El Toqui Mine in Chile  Former Chief Counsel Canada, Chief Privacy Officer
and then the El Mochito Mine in Honduras - Canada of AT&T
David Blaiklock | C.F.O. David Sandison | VP Corporate Development
 Former Director, Corporate Development
 Former Controller IntraWest
Xstrata Zinc Canada
 Previously controller for a number of public and
 Former Director Business Development,
private companies in real estate development
Noranda/Falconbridge
 Former EVP Noranda, Chile
Board Committees: 1.Health, Safety and Environment
TSX:P | NYSE:PPP 29

30. Board of Directors
Wade Nesmith | Chairman Rohan Hazelton | Director 1,5 Robert Quartermain | Director 2,3
 Founder of Primero  VP, Strategy, Goldcorp  Founder and President & CEO,
 Founding and current director  Formerly with Wheaton River Pretivm Resources
of Silver Wheaton, Chairman of and Deloitte & Touche LLP  Former President, Silver Standard
Selwyn Resources  Director of Vista Gold Corp.
and Canplats Resources
David Demers | Director2,3,4,5 Timo Jauristo | Director 2 Michael Riley | Director 5
 Founder, CEO and Director  EVP, Corporate Development,  Chartered accountant with more
Westport Innovations Goldcorp than 26 years of accounting
 Director of Cummins Westport  Former CEO of Zincore Metals experience
and Juniper Engines Inc. and Southwestern  Chair of Primero Audit Committee,
Resources Corp. Chair of Audit Committee of B.C.
Lottery Corporation and member of
the Audit Committee of Canalaska
Uranium Ltd.
Grant Edey | Director 3,5 Eduardo Luna | Director 1 Joseph Conway | Director1
see Executive Management
 Former Director of Breakwater  Former EVP & President,
Resources, former director of Mexico. Former Chairman and
Queenstake Resources, Santa CEO of Silver Wheaton,
Board Committees:
Cruz Gold Executive VP of Goldcorp and 1.Health, Safety and Environment
 Former CFO, IAMGOLD Luismin S.A. de C.V. (San Dimas) 2. Human Resources and Compensation
and President of Mexican 3. Governance and Nominating
Mining Chamber and the Silver 4. Lead Director 5. Audit
Institute
TSX:P | NYSE:PPP 30

31. Analyst Coverage
Firm Analyst
BMO Capital Markets David Haughton
Canaccord Genuity Steven Butler
Cantor Fitzgerald Rob Chang
Cormark Securities Richard Gray
GMP Securities Craig West
Mackie Research Barry Allen
Macquarie Michael Gray
RBC Capital Markets Dan Rollins
TD Newcrest Steven Green
Average Rating (at December 18, 2012)
Average Target Price (at December 18, 2012) C$9.68
TSX:P | NYSE:PPP 31

32. Notes to Investors Regarding the Use of Resources
This presentation has been prepared in accordance with the requirements of Canadian provincial securities laws which differ from the requirements of U.S.
securities laws. Unless otherwise indicated, all mineral reserve and resource estimates included in this presentation have been prepared in accordance
with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and the Canadian Institute of Mining, Metallurgy and
Petroleum classification systems. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure
an issuer makes of scientific and technical information concerning mineral projects. These standards differ significantly from the requirements of the United
States Securities and Exchange Commission (the “SEC”), and reserve and resource estimates disclosed in this presentation may not be comparable to similar
information disclosed by U.S. companies.
The mineral reserve estimates in this presentation have been calculated in accordance with NI 43-101, as required by Canadian securities regulatory
authorities. For United States reporting purposes, SEC Industry Guide 7 under the United States Securities Exchange Act of 1934, as amended, as
interpreted by Staff of the SEC, applies different standards in order to classify mineralization as a reserve. As a result, the definition of “probable reserves”
used in NI 43-101 differs from the definition in the SEC Industry Guide 7. Under SEC standards, mineralization may not be classified as a “reserve” unless
the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is
made. Among other things, all necessary permits would be required to be in hand or issuance imminent in order to classify mineralized material as reserves
under the SEC standards. Accordingly, mineral reserve estimates contained in this presentation may not qualify as “reserves” under SEC standards.
In addition, this presentation uses the terms “indicated resources” and “inferred resources” to comply with the reporting standards in Canada. The
Company advises United States investors that while those terms are recognized and required by Canadian regulations, the SEC does not recognize them.
United States investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into mineral
reserves. Further, “inferred resources” have a great amount of uncertainty as to their existence and as to whether they can be mined legally or
economically. Therefore, United States investors are also cautioned not to assume that all or any part of the “inferred resources” exist. In accordance with
Canadian securities laws, estimates of “inferred resources” cannot form the basis of feasibility or other economic studies. It cannot be assumed that all or
any part of “indicated resources” or “inferred resources” will ever be upgraded to a higher category or are economically or legally mineable. In addition,
disclosure of “contained ounces” is permitted disclosure under Canadian securities laws; however, the SEC only permits issuers to report mineralization as
in place tonnage and grade without reference to unit measures.
NI 43-101 also permits the inclusion of disclosure regarding the potential quantity and grade, expressed as ranges, of a target for further exploration
provided that the disclosure (i) states with equal prominence that the potential quantity and grade is conceptual in nature, that there has been insufficient
exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resources, and
(ii) states the basis on which the disclosed potential quantity and grade has been determined. Disclosure regarding exploration potential has been included
in this presentation. United States investors are cautioned that disclosure of such exploration potential is conceptual in nature by definition and there is no
assurance that exploration will result in any category of NI 43-101 mineral resources being identified.
TSX:P | NYSE:PPP 32

33. TSX:P NYSE:PPP
Focused on Production
PRIMERO MINING CORP.
20 Queen Street West, Suite 2301
Focused on Growth
Tamara Brown
Vice President, Investor Relations
Toronto, ON M5H 3R3 T 416 814 3168
T 416 814 3160 F 416 814 3170 info@primeromining.com
TF 877 619 3160
www.primeromining.com Trading Symbols
Common Shares TSX:P, NYSE:PPP
Warrants TSX:P.WT