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Detour Gold Updates Life of Mine Plan for Detour Lake

02/04/2014

TORONTO, ONTARIO–(Feb. 4, 2014) – Detour Gold Corporation (TSX:DGC) (“Detour Gold” or the “Company”) is pleased to announce an updated life of mine plan for its 100% owned Detour Lake open pit mine in northeastern Ontario. The new mine production plan supports a 21.7 year operating life with the current mineral reserves standing at 15.5 million ounces of gold (476 million tonnes grading 1.02 g/t Au).

A National Instrument 43-101 (“NI 43-101”) technical report for the updated life of mine plan will be filed today on SEDAR (www.sedar.com) and on the Company’s website (www.detourgold.com). All figures are in Canadian dollars except where noted.

Highlights

  • Detour Lake proven and probable open pit reserves of 15.5 million ounces contained gold
  • 21.7 years mine life with mill throughput increasing from 55,000 to 61,000 tpd in 2017
  • Life of mine average annual gold production of approximately 660,000 ounces at total cash costs of $723 per ounce sold(1)
  • Next five years average annual gold production of approximately 600,000 ounces at a total cash costs of $759 per ounce sold(1)
  • Life of mine sustaining capital of $1.14 billion plus $614 million for deferred stripping
  • Undiscounted pre-tax net cash flow of $6.5 billion and undiscounted after-tax net cash flow of $5.1 billion
  • Block A measured and indicated in-pit resources of 54 million tonnes grading 1.15 g/t, representing 2.0 million ounces of gold

“We are very pleased with this life of mine plan update for the Detour Lake mine,” stated Pierre Beaudoin, COO ofDetour Gold. “This improved mine plan demonstrates positive economics and, as we continue to optimize the operation, we certainly expect further improvements. Our technical team and external consultants have worked together to confirm the robustness of our block model and validating our mineral reserves. In addition, we have applied an elevated cut-off grade to maximize our return on investment.

“The mine plan reflects our operating experience gained in the last two years in pioneering the pit and in the last year operating the process plant. The mine plan optimizes the first five years while addressing our operational risks. With the design modification to centerline, the tailings construction management allows effective decoupling from the mine with a transition to self-execution. The process plant throughput increase to 61,000 tpd is phased over a four year period. Our costs have started to decline and the trend will continue as we reach nameplate capacity (55,000 tpd).

“Starting this year, we will be investigating a number of opportunities which could have a positive impact on costs and gold production. Detour Lake is a long-lived asset with potential for additional growth with the Block A project and continued regional exploration.”

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