Detour Gold Corporation

Detour Gold Corporation

March 10, 2009 09:00 ET

Detour Gold Appoints Derek Teevan as Vice President Aboriginal and Government Affairs

TORONTO, ONTARIO--(Marketwire - March 10, 2009) - Detour Gold Corporation (TSX:DGC) ("Detour Gold" or the "Company") is pleased to announce the appointment of Mr. Derek Teevan as Vice President, Aboriginal and Government Affairs. Mr. Teevan has valuable experience in leading stakeholder engagement in the areas of economic development, environmental monitoring and permitting for companies, government and First Nation communities.

Mr. Teevan joins Detour Gold from De Beers Canada, where he was Director, Government and Corporate Affairs. He played a key role in the environmental assessment and permitting of the Victor diamond mine in northern Ontario. He successfully led First Nation consultations and negotiations of impact and benefits agreements. Prior to working with De Beers Canada, Mr. Teevan was a consultant in business development and strategic planning, including Special Advisor for the Minister of Indian Affairs and Northern Development where he was involved in successful economic development and land claim initiatives.

Gerald Panneton, President and CEO, said, "We are delighted to have Derek join our growing team as we advance the Detour Lake gold project to development and production. He is a proven leader and brings the expertise and experience that we need to successfully permit Detour Lake."

About Detour Gold Corporation

Detour Gold is a Canadian gold exploration and development company whose focus is to advance the development of its Detour Lake project located in northeastern Ontario. To date, Detour Gold has outlined a measured and indicated resource of 10.8 million ounces (242.9 million tonnes grading 1.38 g/t gold) and an inferred resource of 2.4 million ounces (63.9 million tonnes grading 1.19 g/t gold), based on a detailed engineered pit design at US$700/oz gold price (refer to July 2, 2008 Press Release). Detour Gold is expected to complete a pre-feasibility study in the second quarter followed by a feasibility study in late 2009.

Forward-Looking Information

This press release contains certain forward-looking information as defined in applicable securities laws (referred to herein as "forward-looking statements"). Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates" or "believes", or variations of, or the negatives of, such words and phrases, or statements that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. Specifically, this press release includes forward-looking statements regarding: the Company's planned drilling program and estimate of the quantity and quality of its mineral resources. Inherent in forward-looking statements are risks, uncertainties and other factors beyond the Company's ability to predict or control. These risks, uncertainties and other factors include, but are not limited to, the uncertainties involved in interpreting geological data and other risks involved in the gold exploration and development industry as well as those risk factors listed in the Company's Annual Information Form (AIF), Item 4.4 - "Description of Business - Risk Factors" filed on SEDAR. Readers are cautioned that the list of factors included in the AIF is not exhaustive of the factors that may affect the forward-looking statements. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release.
Such statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to, the following assumptions: the Company's exploration and development activities on the Detour Lake Property will proceed in accordance with the Company's current timetables; and the Company's resource estimates, geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral resources) and operational and price assumptions on which the resource estimates are based, are accurate. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company'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. All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law.

Information Concerning Estimates of Mineral Resources

This news release uses the terms 'measured', 'indicated' and 'inferred' resources. Detour Gold advises investors that although these terms are recognized and required by Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects), the U.S. Securities and Exchange Commission does not recognize them. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. In addition, 'inferred resources' have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for Preliminary Assessment as defined under 43-101. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.

Contact Information

  • Detour Gold Corporation
    Gerald Panneton
    President and CEO
    (416) 304-0800
    Detour Gold Corporation
    Laurie Gaborit
    Director Investor Relations
    (416) 304-0581