Detour Gold Reports Fourth Quarter and Full-Year 2015 Results

Press Release

TORONTO, ONTARIO–(March 10, 2016) – Detour Gold Corporation (TSX:DGC) (“Detour Gold” or the “Company”) reports its financial results for the fourth quarter and full-year 2015. The Company previously released its fourth quarter and full-year 2015 operational results on January 14, 2016. All amounts are in U.S. dollars unless otherwise indicated.

This press release should be read in conjunction with Detour Gold’s audited consolidated Financial Statements and related notes and schedules for the year ended December 31, 2015, and related Management’s Discussion and Analysis (“MD&A”), which can be found on the Company’s website www.detourgold.com under the Investor Centre section or on SEDAR www.sedar.com. In this news release, the Company uses the following non-IFRS measures: total cash costs, all-in sustaining costs, realized gold price, average realized margin, adjusted net earnings (loss), adjusted basic net earnings (loss) per share, and depreciation and depletion per ounce sold. Refer to the Company’s MD&A and at the end of this news release for an explanation and discussion of these non IFRS measures.

2015 Highlights

Record full-year gold production of 505,558 ounces
Revenues of $563.0 million
Earnings from mine operations of $12.7 million
All-in sustaining costs of $1,056 per ounce sold, including total cash costs of $775 per ounce sold
Net loss of $163.6 million ($0.97 per share) and adjusted net loss of $42.1 million ($0.25 per share)
Year-end cash and short-term investments balance of $160.6 million

Q4 2015 Highlights

Record quarterly gold production of 146,417 ounces
Revenues of $145.7 million
Earnings from mine operations of $9.1 million
All-in sustaining costs of $858 per ounce sold, including total cash costs of $694 per ounce sold
Net loss of $40.8 million ($0.24 per share) and adjusted net loss of $4.4 million ($0.03 per share)

Recent Highlights

Released a new life of mine plan for the Detour Lake operation on January 25, 2016
Year-end proven and probable mineral reserves of 16.4 million ounces, a 10% increase from the prior year with the addition of West Detour and the processing of the low grade fines
Completed a flow-through financing of C$10,188,000 from the issuance of 400,000 shares

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