Detour Gold Corporation

Detour Gold Corporation

February 09, 2010 08:00 ET

Detour Gold Appoints Pierre Beaudoin as Senior Vice President, Capital Projects for the Development of Detour Lake

TORONTO, ONTARIO--(Marketwire - Feb. 9, 2010) - Detour Gold Corporation (TSX:DGC) ("Detour Gold" or the "Company") is pleased to announce the appointment of Pierre Beaudoin as Senior Vice President, Capital Projects. Pierre will be responsible for advancing the Detour Lake gold project towards production. Pierre's initial efforts will focus on the finalization of the on-going feasibility study and assembling the construction and operation teams to bring this major open pit mining project into production.

Pierre Beaudoin, a mineral processing professional, brings over 25 years of international operating and project development experience. Prior to joining Detour Gold, Pierre spent the past 16 years with Barrick Gold Corporation. In his recent role as Director of Project in the Capital Projects Group, he directed the pre-feasibility and feasibility studies of the Cerro Casale open pit copper-gold project in Chile, one of the world's largest undeveloped projects. As Project Manager, he also delivered a feasibility study for the Donlin Creek open pit project (Alaska) in 2007 (currently 29.3 million ounces of gold in reserves). He also contributed to the development of the Buzwagi gold mine in Tanzania (successfully commissioned in May 2009). Earlier on at Barrick Gold, Pierre held senior management positions at the processing plants of Doyon (Quebec), Holt-McDermott (Ontario), and Kargoorlie Super Pit (Australia) mining operations. He was instrumental in improving process plant productivity at several of Barrick Gold's gold operations worldwide (USA, Chile, Peru, Australia) and to the successful commissioning of the Tambo gold processing plant in Chile. Pierre started his career at Noranda Minerals followed by Lac Minerals.

Gerald Panneton, President and CEO of Detour Gold commented, "The Company is adding a talented individual in Pierre to lead the development team of the Detour Lake project, which is a testament to the quality of the asset. His extensive experience in project development and operations of world-class gold projects brings the complementary leadership we need to advance Detour Lake to production and become a mid-tier gold producer."

About Detour Gold

Detour Gold is a Canadian gold exploration and development company with a highly experienced management and technical team whose primary focus is to advance the development of its flagship Detour Lake gold project located in northeastern Ontario.

The Detour Lake deposit is Canada's largest undeveloped gold reserve and ranks sixth among the top ten largest gold reserves in North America, with 8.8 million ounces. The Company is completing a feasibility study and expects to release the results in the second quarter of 2010. In parallel, the Company is advancing the permitting and engineering development work.

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 advancement of the Detour Lake project and the release of the feasibility study results. 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 Business - Risk Factors" in Detour Gold's 2008 annual information form. 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 availability of financing for exploration and development activities; the estimated timeline for the development of the Project; the supply and demand for, and the level and volatility of the price of, gold; the accuracy of reserve and resource estimates and the assumptions on which the reserve and resource estimates are based; market competition; ongoing relations with employees and local communities; and general business and economic conditions. Accordingly, readers should not place undue reliance on forward-looking 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.

Contact Information

  • 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, North Tower
    200 Bay Street, Suite 2040
    Toronto, Ontario M5J 2J1