TORONTO, ONTARIO--(Marketwire - Oct 18, 2012) - Detour Gold Corporation (DGC.TO) ("Detour Gold" or the "Company") announces that further to its news release dated September 4, 2012, it has filed a Technical Report on SEDAR for the updated mine production plan for its 100% owned Detour Lake gold mine in northeastern Ontario. The Technical Report was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").
The updated mine production plan and Technical Report were prepared by leading independent industry consultants, all Qualified Persons (QP) as defined by NI 43-101, with the collaboration of the Detour Gold technical group. The following consultants participated in the study:
- BBA Inc., under the direction of André Allaire, Eng., Vice-President, Markets - Mining and Metals and Patrice Live, Eng., Mining Manager
- SGS Canada Inc., under the direction of Michel Dagbert, Eng., Senior Geostatistician and Maxime Dupéré, P.Geo., Senior Geologist
- AMEC Environment & Infrastructure, a Division of AMEC Americas Limited, David G. Ritchie M.Eng., P.Eng, Senior Associate Geotechnical Engineer
About Detour Gold
Detour Gold Corporation (DGC.TO) is a Canadian gold exploration and development company with a highly experienced management and technical team. The Company''s primary focus is the successful development of its flagship Detour Lake project, located in northeastern Ontario. With more than 92% of the mine site construction already completed, Detour Lake is on schedule and on budget to produce gold in January 2013.
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 production of gold in January 2013. 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 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 law.
President and CEO
Detour Gold Corporation
Director Investor Relations
Detour Gold Corporation
Royal Bank Plaza, South Tower
200 Bay Street, Suite 2200