Thursday 20th October 2016

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Detour announces $500M Private Placement to fund Ontario Gold Mine

Detour Gold Corporation DGC:CA announced November 17 that it has entered into an agreement whereby a syndicate of underwriters have agreed to buy $250 million of 5.5% senior unsecured convertible notes. The notes will be convertible by the holders thereof, at any time prior to maturity (November 30, 2017), into common shares at a conversion price of $38.50 per common share, representing an approximately 30% premium to the closing price of the common shares on the TSX on November 16, 2010.

Detour Gold intends to use the proceeds from the private placement to finance the development of its Detour Lake Gold Project in northeastern Ontario.

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Gerald S. Panneton

or Laurie Gaborit
Director, Investor Relations

by Ted Niles

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