Detour Gold Completes C$162 Million Bought Deal Offering

TORONTO, ONTARIO -- (Marketwired - Feb. 10, 2015) - Detour Gold Corporation (TSX:DGC) ("Detour Gold" or the "Company") today announced that it has completed its previously announced public offering (the "Offering") of 12,650,000 common shares ("Common Shares"), pursuant to its short form prospectus dated February 3, 2015, raising gross proceeds of C$161,920,000. The underwriters, led by BMO Capital Markets, purchased all of the 1,650,000 Common Shares available for issuance pursuant to the exercise of their over-allotment option, in addition to the 11,000,000 Common Shares that the underwriters initially agreed to purchase. As of today's date and factoring the Common Shares issued pursuant to the closing of the Offering, Detour Gold has 170,556,671 Common Shares issued and outstanding.

The Company intends to use the net proceeds of the Offering of approximately US$124 million at current exchange rates to repay its outstanding indebtedness under both its senior secured revolving credit facility (US$30 million) and its mobile fleet finance lease with Caterpillar Financial Services Limited (US$94 million).

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.


About Detour Gold

Detour Gold is a mid-tier gold producer in Canada that holds a 100% interest in the Detour Lake mine, a long life large scale open pit operation.


Forward-Looking Information

This press release contains certain forward-looking information as defined in applicable securities laws (referred to herein as "forward-looking statements"). Specifically, this press release contains forward-looking statements regarding the Company's intention to use the net proceeds of the Offering of approximately US$124 million at current exchange rates to repay its outstanding indebtedness under both its senior secured revolving credit facility (US$30 million) and its mobile fleet finance lease with Caterpillar Financial Services Limited (US$94 million). Forward-looking statements involve known and unknown risks, uncertainties and other factors which are beyond Detour Gold's ability to predict or control and may cause Detour Gold's actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, gold price volatility, changes in debt and equity markets, the uncertainties involved in interpreting geological data, increases in costs, environmental compliance and changes in environmental legislation and regulation, interest rate and exchange rate fluctuations, general economic conditions and other risks involved in the gold exploration and development industry, as well as those risk factors discussed in the section entitled "Description of Business - Risk Factors" in Detour Gold's 2013 AIF and in the continuous disclosure documents filed by Detour Gold on and available on SEDAR at www.sedar.com. Such forward-looking statements are also based on a number of assumptions which may prove to be incorrect, including, but not limited to, assumptions about the following: the availability of financing for exploration and development activities; operating and capital costs; the Company's ability to attract and retain skilled staff; the mine development schedule; sensitivity to metal prices and other sensitivities; the supply and demand for, and the level and volatility of the price of, gold; timing of the receipt of regulatory and governmental approvals for development projects and other operations; the supply and availability of consumables and services; the exchange rates of the Canadian dollar to the U.S. dollar; energy and fuel costs; the accuracy of reserve and resource estimates and the assumptions on which the reserve and resource estimates are based; market competition; ongoing relations with employees and impacted communities and general business and economic conditions. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements contained herein are made as of the date hereof, or such other date or dates specified in such statements. Detour Gold undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.



Contact

Detour Gold Corporation
Paul Martin, President and CEO
(416) 304.0800

Detour Gold Corporation
Laurie Gaborit, Director Investor Relations
(416) 304.0581

Detour Gold Corporation
Royal Bank Plaza, South Tower
200 Bay Street, Suite 2200
Toronto, Ontario M5J 2J1