Detour Gold Corporation

Detour Gold Corporation

June 15, 2009 09:15 ET

Detour Gold to Be Included in S&P/TSX Indices

TORONTO, ONTARIO--(Marketwire - June 15, 2009) - Detour Gold Corporation (TSX:DGC) ("Detour Gold" or the "Company") is pleased to announce that effective June 22, 2009 the Company will be included in the S&P/TSX Composite Index.

Gerald Panneton, President and CEO of Detour Gold, commented: "We are very pleased to be included on the S&P/TSX Composite Index, a leading indicator of market performance based on Canada's major corporations. Our inclusion highlights the significant growth that Detour Gold has delivered to its shareholders since our IPO in January 2007. We will continue to advance the Detour Lake gold project towards development and production. Inclusion in the Index validates our efforts and progress over the last two years."

About Detour Gold

Detour Gold is a Canadian gold exploration and development company whose focus is to advance the development of its Detour Lake gold project located in northeastern Ontario and the Company expects to complete a pre-feasibility study on the project during the third quarter of 2009 followed by a feasibility study in early 2010. The upcoming pre-feasibility study will include the following technical components: mineral resources/reserves, metallurgy, geotechnical study, open pit mine plan, metallurgy process design, operating and capital costs and financial analysis.

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: Detour Gold's intent to advance the Detour Lake Project towards the development stage, including the timing for completion of a pre-feasibility study and a feasibility study on the Detour Lake gold project and the impact of the results on the final pit design for the pre-feasibility study. 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 Detour Lake Project; the supply and demand for, and the level and volatility of the price of, gold; the accuracy of resource estimates and the assumptions on which the 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