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To: Andrew~ who wrote (15652)	6/3/2016 7:23:49 AM
From: Andrew~	Read Replies (1) \| Respond to of 202716

P-T Primero Notifies Mexico of an Investment Dispute Under NAFTA TORONTO, ON --(Marketwired - June 02, 2016) - Primero Mining Corp. ("Primero" or the "Company") (TSX: P) (NYSE: PPP) announced today that it has issued a Notice of Intent to submit a claim to international arbitration against the Government of Mexico, pursuant to Article 1119 of the North American Free Trade Agreement ("NAFTA"). Primero's Notice of Intent under NAFTA highlights improper actions taken by the Mexican tax authority, the Servicio de Administracion Tributaria ("SAT"). These actions have the intent of revoking legal rights previously granted to Primero and upon which Primero relied to expand its investment in Mexico. Primero is a publicly-listed Canadian company with significant investments in Mexico, including its flagship San Dimas gold-silver mine located in Durango, Mexico. The mine employs approximately 1,100 local workers and has been repeatedly awarded Clean Industry certification by PROFEPA, Mexico's Environmental Protection agency. The Company also holds a 100% interest in the Cerro del Gallo gold-silver-copper development project located in Guanajuato, Mexico, and the Ventanas exploration property located 32 kilometres south of the San Dimas mine. At each of these sites, Primero has proven itself to be a responsible corporate citizen, having recently been recognized as an "Empresa Socialmente Responsable" or "Socially Responsible Company" by the Mexican Centre for Philanthropy (CEMEFI) for the fifth consecutive year. The actions of the SAT have been neither fair nor equitable. The Company believes that the SAT's actions are discriminatory against Primero as a foreign investor. As a consequence, Primero believes the Government of Mexico has failed to uphold the core values of NAFTA, including its obligation to protect Primero's foreign investment under NAFTA Chapter 11, and therefore the Company is entitled to full compensation. Primero has resorted to utilizing international arbitration proceedings to ensure that Mexico's commitments under NAFTA are upheld. About Primero Primero Mining Corp. is a Canadian-based precious metals producer that owns 100% of the San Dimas gold-silver mine and the Cerro del Gallo gold-silver-copper development project in Mexico and 100% of the Black Fox mine and adjoining properties in the Township of Black River-Matheson near Timmins, Ontario, Canada. Primero offers immediate exposure to un-hedged, below average cash cost gold production with a substantial resource base in politically stable jurisdictions. The Company is focused on becoming a leading intermediate gold producer by building a portfolio of high quality, low cost precious metals assets in the Americas. Primero's website is www.primeromining.com.