Detour Gold Provides Operational Update for Detour Lake Mine Tour on June 4

TORONTO, ONTARIO--(Marketwired - Jun 3, 2015) - Detour Gold Corp. (TSX:DGC) ("Detour Gold" or the "Company") is pleased to provide an operational update at its flagship Detour Lake gold mine prior to its analyst and investor site visit on June 4, 2015.

The Detour Lake mine operation continued to make positive progress towards achieving steady state and has exceeded budget rates for both mill throughput capacity and mining rates over the last three months.

Highlights

• Mill throughput rates averaged 59,370 tpd over last three months, exceeding design capacity of 55,000 tpd
• Mining rates averaged 271,000 tpd over last three months, exceeding annual budget rate of 238,000 tpd
• Gold production for the second quarter is expected to be within guidance of 110,000 to 120,000 ounces

"I am proud to report the accomplishments of our entire team towards achieving operational stability; it has been a challenging environment but perseverance and hard work has paid off," said Pierre Beaudoin, Chief Operating Officer. "We remain on target for achieving our first quarter at the design throughput rate, equivalent to processing 5 million tonnes of ore. At the mine, we continue to see the benefits of our efforts in improving our production drilling rates which have resulted in significantly increased blasted inventory and higher shovel productivities. The progress achieved at the operation in the last three months gives us further confidence that we can now target higher levels at both the mine and mill."

Operational Update

On the mining side, production drilling rates have exceeded 3 kilometres per day over the last three months, contributing significantly to higher blasted inventory levels and higher shovel productivities. This has resulted in mining rates (Phase 1 and 2) averaging 271,000 tpd over the same three month-period, approximately 14% above the annual budget rate of 238,000 tpd. At the end of May, mineable broken and drilled inventory in the pit stood at 5.2 Mt as compared to 2.7 Mt at the end of 2014.

The mill facility has operated at 59,370 tonnes per day (tpd) over the last three months with 5.5 Mt of ore processed. With no scheduled shutdowns during that period, mill operating time reached 91%, within 1% of design levels. Milling rates averaged approximately 2,700 tonnes per operating hour (tpoh), exceeding the annual budget of 2,600 tpoh and the design levels of 2,500 tpoh. For June, with a four day planned shutdown to replace the SAG mill liners on both lines, the mill facility will be operating at lower levels. As a result, the mill is still expected to process approximately 5 million tonnes (Mt) of ore at grade of between 0.75 and 0.80 g/t for the second quarter, both in line with budget.

For the remainder of 2015, the Company is now targeting mining rates of between 250,000 and 290,000 tpd. At these higher mining rates, access to the higher grade ore is now anticipated to start in the third quarter versus the fourth quarter. As a result, approximately 10,000 to 15,000 ounces from the fourth quarter production is targeted to be processed in the third quarter.

2015 Guidance

Detour Gold reconfirms its 2015 guidance of between 475,000 and 525,000 ounces of gold at total cash costs of US$780 to $850 per ounce sold(1) and all-in sustaining costs of US$1,050 to US$1,150 per ounce sold¹. The Company will provide a further update for the second half of 2015 with its second quarter results.

Life of Mine Plan Update

The objective of the life of mine (LOM) plan update is to maximize returns for next 5 to 10 years and optimize NAV while optimizing capital allocation of the mining fleet. The Company is currently evaluating five mine plan scenarios ranging from 105 to 140 Mt annually (equivalent to mining rates of 288,000 to 385,000 tpd). In the new LOM plan, Block A pit development is planned to commence no earlier than in 2018 and is also being considered as a tailings impoundment (potentially removing the need for Cell 3) and waste disposal for the Detour Lake pit.

The LOM plan update is expected to be completed in the fourth quarter of 2015 and be released along with the 2016 guidance.

Detour Lake Mine Tour Presentation

The Detour Lake Mine Tour presentation is posted on the Company's website on the home page and under Investor Centre at www.detourgold.com/investors-centre/events-calendar.

Technical Information

The scientific and technical content of this news release was reviewed, verified and approved by Drew Anwyll, P.Eng., Senior Vice President, Technical Services, a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 "Standards of Disclosure for Mineral Projects."

About Detour Gold

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

Non-IFRS Financial Performance Measures

The Company has included certain non-IFRS measures in this press release: total cash costs and all-in sustaining costs. The Company believes that these measures, in addition to conventional measures prepared in accordance with IFRS, provide investors an improved ability to evaluate the underlying performance of the Company. The non-IFRS measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. These measures do not have any standardized meaning prescribed under IFRS, and therefore may not be comparable to other issuers.

Total cash costs

Detour Gold reports total cash costs on a sales basis. Total cash costs include production costs such as mining, processing, refining and site administration, agreements with Aboriginal communities, less non-cash share-based compensation and net of silver sales divided by gold ounces sold to arrive at total cash costs per gold ounce sold. The measure also includes other mine related costs incurred such as mine standby costs and current inventory write downs. Production costs are exclusive of depreciation and depletion. Production costs include the costs associated with providing the royalty in kind ounces.

All-in sustaining costs

Commencing in 2015, the Company adopted all-in sustaining costs on a prospective basis.

The Company believes this measure more fully defines the total costs associated with producing gold. The Company calculates all-in sustaining costs as the sum of total cash costs (as described above), share-based compensation, corporate general and administrative expense, exploration and evaluation expenses that are sustaining in nature, reclamation cost accretion, sustaining capital including deferred stripping, and realized gains and losses on hedges due to operating and capital costs, all divided by the total gold ounces sold to arrive at a per ounce figure.

Other companies may calculate this measure differently as a result of differences in underlying principles and policies applied. Differences may also arise to a different definition of sustaining versus non-sustaining capital.

Forward-Looking Information

This news release and linked presentation contain certain forward-looking information as defined in applicable securities laws (referred to herein as "forward-looking statements"). Specifically, this news release and linked presentation contain forward-looking statements regarding gold production for the second quarter of 2015 being within the guidance of 110,000 to 120,000 ounces; mill throughput rates being lower in June as a result of a four day planned shutdown; a planned shutdown in October 2015; the mill processing approximately 5 Mt of ore in the second quarter of 2015; targeting a 250,000 tpd to 290,000 tpd mining rate for the remainder of 2015; a working plan towards achieving 300,000 or more tpd post 2015; targeting 55,000 tpd throughput for the next three quarters; accessing higher grade ore starting in the third quarter of 2015 versus the fourth quarter of 2015; bringing forward 10,000 to 15,000 ounces of gold production from the fourth quarter of 2015 into the third quarter and building stockpile inventories in the third quarter; production of between 475,000 and 525,000 ounces of gold in 2015 at an estimated total cash cost of US$780 to US$850 per ounce of gold sold and all-in sustaining costs of between US$1,050 and US$1,150 per ounce sold; sustaining capital expenditures in 2015 ranging from US$90 to US$100 million; capitalized stripping costs in 2015 ranging from US$20 to US$25 million; long term targets for mill consumables improvements; the Block A pit development being planned at the earliest in 2018; an updated life of mine plan being completed in the fourth quarter of 2015; steps to be taken by the Company to annualize current performance and to mitigate near term risks; estimated 2015 operating costs; work to be done on the Company's tailings management area in 2015; potential cost reductions in 2015; amendments to the Company's credit facility in mid-2015; the re-establishment of a US$50 million equipment lease facility; targeting repayment of a minimum of US$200 million from cash flow on the Company's convertible notes and refinancing the balance of the Company's convertible note; the Company's proposed 2015 hedging related to gold production, currency, and diesel use; and the Company's proposed exploration activities in 2015.

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 2014 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.

¹ Refer to the section on Non-IFRS Financial Performance Measures on this page.

Contact

Detour Gold Corp.
Paul Martin
President and CEO
(416) 304.0800
Detour Gold Corp.
Laurie Gaborit
Director Investor Relations
(416) 304.0581
Detour Gold Corp.
Royal Bank Plaza, South Tower
200 Bay Street, Suite 2200
Toronto, Ontario M5J 2J1