Breaking News

Tweet TWEET

Detour Gold Closes $135 Million Senior Secured Credit Facility

Detour Gold Closes $135 Million Senior Secured Credit Facility 
TORONTO, ONTARIO -- (Marketwire) -- 03/12/13 -- Detour Gold
Corporation (TSX:DGC) ("Detour Gold" or the "Company") is pleased to
report that it has successfully closed a $135 million senior secured
credit facility (the "Facility"). The Facility is comprised of a $90
million revolving credit facility and a $45 million letter of credit
facility. The Facility is for a tenor of three years and is available
for working capital during the ramp-up period, financial assurance
and general corporate purposes. All amounts are reported in Canadian
dollars. 
Gerald Panneton, President and CEO of Detour Gold, commented: "This
credit facility is a cost effective source of capital and will
provide the Company with an additional source of liquidity and
greater financial flexibility."  
The Facility was jointly arranged by BMO Capital Markets and Canadian
Imperial Bank of Commerce and included commitments from Commonwealth
Bank of Australia, Royal Bank of Canada and The Toronto-Dominion
Bank. The $45 million letter of credit facility announced on January
14, 2013 was terminated upon the closing of the Facility. 
About Detour Gold  
Detour Gold is an emerging mid-tier gold producer in Canada. 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. 
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 Facility providing
an additional source of liquidity and the Company with greater
financial flexibility and annual production of 657,000 ounces of gold
over a period of 21.5 years. 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 a
nd 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 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.
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