Detour Gold Reports First Quarter 2016 Results

Press Release

TORONTO, ONTARIO–(April 27, 2016) – Detour Gold Corporation (TSX:DGC) (“Detour Gold” or the “Company”) reports its operational and financial results for the first quarter of 2016. This release should be read in conjunction with the Company’s first quarter 2016 Financial Statements and MD&A on the Company’s website or on SEDAR. All amounts are in U.S. dollars unless otherwise indicated.

In this news release, the Company uses the following non-IFRS measures: total cash costs, all-in sustaining costs (“AISC”), realized gold price, average realized margin, adjusted net earnings (loss), and adjusted basic net earnings (loss) per share. 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.

Q1 2016 Highlights

Gold production of 127,136 ounces
Total cash costs of $637 per ounce sold and AISC of $824 per ounce sold
Revenues of $163 million on gold sales of 137,608 ounces at an average realized price of $1,172 per ounce
Earnings from mine operations of $30.8 million
Net income of $27.6 million ($0.16 per share) and adjusted net earnings of $11.3 million ($0.07 per share)
Cash and short-term investments balance of $214 million at March 31, 2016
New life of mine plan for the Detour Lake operation released on January 25

“Despite achieving the lower end of our gold production guidance range for the first quarter, the Company delivered a solid quarter with its lowest total cash costs and all-in sustaining costs since the start of operations. With the successful modifications of the 410-conveyor completed earlier this month, we now expect improved plant performance supporting our operational targets for the rest of the year,” stated Paul Martin, President and CEO of Detour Gold. “With the first results from our delineation drilling at Lower Detour’s Zone 58N continuing to be positive, we are proceeding with a preliminary cost estimate and infrastructure design to support an underground exploration program.”

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