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UPDATE: Primero Discovers New High-Grade Vein in West Block; Shares Up 1%

Primero Mining Corp. (P.TO) rose 1% in early trade after announcing the discovery of a new high-grade vein in the West Block which has been named the Alexa vein. The discovery currently comprises 5 high-grade intercepts. Joseph F. Conway, CEO, said: "Our 2012 exploration program is continuing to deliver excellent results and we look forward to releasing a Reserve and Resource update, based on drilling up to June 30, 2012, during the third quarter."

Primero is now trading at the lower end of a $2.54 to $2.58 range. Volume traded so far is over 9,000.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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