Detour Gold Starts Mill Commissioning and Reaches 95%

Detour Gold Starts Mill Commissioning and Reaches 95% Construction
Completion at Detour Lake 
TORONTO, ONTARIO -- (Marketwire) -- 11/08/12 -- Detour Gold
Corporation (TSX:DGC) ("Detour Gold" or the "Company") is pleased to
report that the mining and construction progress of its 100% owned
Detour Lake open pit gold mine in northeastern Ontario is proceeding
on schedule with first gold pour expected in January 2013. Mill
commissioning activities for the first production line are underway
and it is expected that the first ore will be fed through the mill
circuit before year-end. 
Detour Lake Development Highlights: 


 
--  Gold production to start in January 2013 
--  Project construction reached 95% completion mark at end of October 
--  Mill commissioning of first production line commenced in October 
--  Average mining rates above 100,000 tpd during September and October 
--  Ore stockpile totalled 1.1 million tonnes at end of October 
--  Operational team now at 396 employees, ahead of schedule 

 
Gerald Panneton, President and CEO of Detour Gold commented, "We are
nearly finished with construction and I am proud of what our team has
accomplished in just 24 months. The energy at site is vibrant and I
would like to thank all our employees and contractors for their
dedication and excellent work. We are now confident we will see the
first ore in the mill circuit before year-end, almost two months
ahead of the original schedule. The first gold pour is expected to
occur in January 2013 and will mark a new chapter in Detour Gold's
successful history as it transitions from a developer to producer and
becomes the next mid-tier gold producer in Canada." 
Detour Lake Construction 95% Complete and Plant Commissioning
Starting 
Construction progress is at the 95% completion mark at the end of
October 2012 and the Detour Lake mining operation is approximately
two months away from its first gold production. At the processing
plant, the mechanical work is 98% complete, which has permitted
commissioning activities to commence. Mechanical alignment of the SAG
and ball mill for the first grinding line is complete. Contractor
manpower has begun to ramp-down and efforts are now focused on
finishing the electrical and instrumentation work. 
The first cell of the tailings m
anagement area (TMA) has reached the
dam level required for the 2013 operation. Dewatering of the historic
Campbell pit to the TMA is progressing as planned and will reach the
targeted water level well in advance of operations. The water
recovery system, the tailing lines and secondary containment systems
are essentially complete.  
Detour Gold's operation manpower is now at 396 employees with all
senior operational management positions filled.  
Pre-stripping and Mining Activities Reaches 20.3 Mt Mined  
The production rates are steadily increasing and have now reached an
average daily rate of more than 100,000 tpd over the last two months.
As of the end of October 2012, the Company had mined over 20.3
million tonnes of material, with the majority relating to
pre-stripping. Approximately 1.1 million tonnes of ore have been
stockpiled for future processing, which is in line with the Company's
plan of having 2.3 million tonnes of ore at an average grade of 0.81
g/t by year-end 2012.  
2013 Guidance  
For 2013, the Company's guidance remains unchanged: 


 
--  Gold production ranging between 350,000 and 400,000 ounces of gold 
--  Total cash costs of between $800/oz and $900/oz (to be reported after
    commercial production is declared) 

 
Capital Costs Update 
Pre-production capital costs are expected to finish within 3% of the
project cost estimate of $1.45 billion, which dates from November
2011, one year ago. The increase is mainly associated with the
acceleration of the schedule to process ore by year-end. 
As of September 30, 2012, the Company had spent $1.19 billion and had
approximately $348 million in cash and short-term investments,
sufficient to fully finance the remaining project expenditures ($270
to $310 million). The Company expects to secure a letter of credit
facility this month that will allow its letters of credit to be
uncollateralized. It is also continuing to advance a senior secured
credit facility to provide working capital required during the
initial ramp-up period.  
About Detour Gold  
Detour Gold is an emerging mid-tier gold producer in Canada. Its
development project, Detour Lake, is scheduled to start gold
production in January 2013. The Detour Lake open pit mine is expected
to produce an average of 657,000 ounces of gold annually over a
period of 21.5 years. Detour Gold's shares trade on the Toronto Stock
Exchange under the trading symbol DGC. 
Technical Information  
Scientific and technical information in this press release has been
reviewed by Andre Allaire, an independent Qualified Person under
National Instrument 43-101. 
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 expected start of
gold production in January 2013; the estimated pre-production capital
costs and the sufficiency of funds to finance the remaining project
expenditures; obtaining a letter of credit facility and a secured
credit facility; the target of up to 2.3 million tonnes of ore
available for processing prior to the commencement of operations;
meeting its 2013 gold production guidance; producing an average of
657,000 ounces of gold annually for a period of 21.5 years.
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 the Business - Risk Factors" in
Detour Gold's 2011 annual information form 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 supply and demand
for gold, and the level and volatility of the price of gold; the
availability of financing for exploration and development activities;
the estimated timeline for the development of the Detour Lake gold
project; the expected mine life; anticipated gold production; gold
recovery; the development schedule; cash operating costs and other
costs; the financial analysis for the project; capital costs;
sensitivity to metal prices and other sensitivities; the accuracy of
reserve and resource estimates and the assumptions on which the
reserve and resource estimates are based; the receipt of necessary
permits; market competition; ongoing r
elations 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.
Contacts:
Detour Gold Corporation
Gerald Panneton
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