Detour Gold Pours First Gold Bars at Detour Lake Mine
TORONTO, ONTARIO--(Marketwire - Feb 18, 2013) -
Editors note: There is a photo associated with this release.
Detour Gold Corporation (DGC.TO) ("Detour Gold" or the "Company") is pleased to announce that today it poured its first four gold bars for approximately 2,000 ounces of gold at its Detour Lake mine.
Gerald Panneton, President and CEO of Detour Gold, commented: "Today is a celebration for all of us that have been involved in this project from its inception. Our first gold pour is a remarkable milestone in Detour Gold''s transition from a young exploration company to a gold producer. This achievement has truly been the result of great team work by everyone. We wish to thank our shareholders and all of our other stakeholders in supporting the development of the project, including our Board of Directors, management team, employees and contractors who worked very hard to make this all possible after 26 months of construction. We would also like to thank our Aboriginal partners and local communities with whom we have developed strong and mutually beneficial relationships."
"We are very excited about what we have accomplished in six years from completing the acquisition of the property (January 31, 2007) to first gold pour. We are looking forward to the future as we move closer to becoming Canada''s leading intermediate gold producer."
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 annual production of 657,000 ounces of gold over 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 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.
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