corporate presentation june 18-22, 2012
TRANSCRIPT
© 2011 Detour Gold All Rights Reserved. 2
This presentation contains certain forward-looking information as defined in applicable securities laws (referred to herein as “forward-
looking statements”). Specifically, this presentation contains forward-looking statements regarding the reserve and resource
estimates, ore grade, expected mine life, anticipated gold production, gold recovery, cash operating costs and other costs, capital
costs, sensitivity to metal prices and other sensitivities, financial analysis of the project, commencement of operations, potential
expansion opportunities, plans for organic growth and expected drilling activities. 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 2011 AIF 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.
Forward Looking Information
© 2011 Detour Gold All Rights Reserved. 3
Information Concerning Estimates of Mineral Reserves and Resources
The mineral reserve and resource estimates reported in this presentation were prepared in accordance with Canadian National
Instrument 43-101Standards of Disclosure for Mineral Projects (“NI 43-101”), as required by Canadian securities regulatory
authorities. For United States reporting purposes, the United States Securities and Exchange Commission (“SEC”) applies different
standards in order to classify mineralization as a reserve. In particular, while the terms “measured,” “indicated” and “inferred” mineral
resources are required pursuant to NI 43-101, the SEC does not recognize such terms. Canadian standards differ significantly from
the requirements of the SEC. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories
constitute or will ever be converted into reserves. In addition, “inferred” mineral resources have a great amount of uncertainty as to
their existence and great uncertainty as to their 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 securities laws, issuers must not make any disclosure
of results of an economic analysis that includes inferred mineral resources, except in rare cases.
On January 31, 2011, Detour Gold announced an updated mineral resource and reserve estimate. The following QPs participated in
this update: Michel Dagbert, Eng., Senior Geostatistician and André Laferrière, P. Geo., Senior Geologist of SGS Canada Inc.
(mineral resources); and André Allaire, Eng., Director Mining and Metals and Patrice Live, Eng., Mining Manager of BBA Inc (mineral
reserve). The NI 43-101 compliant Technical Report for this update was filed on SEDAR on March 15, 2011.
On January 25, 2012, Detour Gold announced a mineral resource and reserve update. The following QPs participated in this update:
Michel Dagbert, Eng., Senior Geostatistician of SGS Canada Inc (mineral resources) and Patrice Live, Eng., Mining Manager of BBA
Inc (mineral reserves).
NI 43-101 Disclosure
© 2011 Detour Gold All Rights Reserved. 4
Focus on a world-class asset – Detour Lake
Canada’s largest pure gold play with 15.6 M oz in reserves
(@ US$ 850/oz gold price)
Construction progressing on schedule (70% as of May 31)
One of the best cash flow/share opportunities
Gold production starting in Q1 2013
Excellent organic growth potential (5 year plan)
Potential expansion of mill throughput
Invest in Detour Gold
© 2011 Detour Gold All Rights Reserved. 5
Issued and
Outstanding:
112.6 M
Options & FN Share
Commitments:
8.7 M =
Fully Diluted:
134.3 M
Market cap: C$2.6 Billion
Cash position: C$683 Million
Major shareholders:
Convertible
Notes:
13.0 M
Paulson & Co. 15%
Fidelity Mgmt 8%
Detour Gold Mgmt <2%
Institutions total >90%
Share Capital
Detour Lake
+ +
Note: Share data and cash position as of May 31, 2012.
© 2011 Detour Gold All Rights Reserved. 6
Strong Share Performance
Osisko
(239%)
Yamana
Randgold
Eldorado
Buenaventura
Newcrest IMG
Kinross
Andina
Hecla Gabriel
Anglo Gold Ashanti AEM
Goldfields CG
NEM
AGI
Aurizon G ABX
GSC
DGC 11/09
DGC 07/10
Jan. 2007 to Present % Change in Shares Outstanding 100 150 0 50 200
Share Issuance vs. Performance
Source: BMO, June 2012
IPO
DGC 07/09
DGC 04/08
DGC 08/11
Ja
n. 2
00
7 t
o P
res
en
t To
tal
Retu
rn
400%
300%
200%
100%
0%
-100%
500%
600%
700%
800%
900%
1000%
571% total return
since IPO DGC 01/12
DGC equity financings
AuRico
Eco Oro
Great Basin
(209%)
© 2011 Detour Gold All Rights Reserved. 7
DETOUR LAKE:
RECORD TIMING FROM “DISCOVERY” TO PROJECTED PRODUCTION
6 years
Acquisition/
Discovery
2007
Pre-feasibility
Study
2009
Feasibility Study
& Permitting
2010
Development
2011-2012
Production
2013
Successful Focused Approach
© 2011 Detour Gold All Rights Reserved. 8
Mineral reserves/resources update for 2011 year-end
Top up of $277 million to complete the project and working capital
Second 45 km segment of transmission line complete
230 kV transmission line connection in Q3
Updated mine plan & operational forecast in Q3
Ore stockpile of 3 Mt available in Q4 for processing
Manpower ramp-up to 400 (now 273 employees at site and Cochrane)
Delivery of 12 haul trucks and 2 cable shovels
Drilling programs:
50,000 m on Block A open pit & initiate pre-feasibility study
5,060 m completed on Lower Detour Lake structure (targeting high-
grade mineralization)
Detour Gold 2012 Objectives
© 2011 Detour Gold All Rights Reserved. 9
2005-05
2006-09
Date Accumulative
DGC Drilling Resources/Reserves (M oz) Inferred M&I 2P
Growing Reserve/Resource Base
RESOURCE GROWTH EXCEEDING 750% SINCE IPO
2007-12 50,000m
2008-06 123,000m
2012-01 523,000m $850/oz 15.6
2011-01 430,000m $850/oz 14.9
2010-06 334,000m $850/oz 11.4
2009-09 249,000m 8.8
Estimated by Pelangio
DGC due diligence
10M 20M 30M
© 2011 Detour Gold All Rights Reserved. 10
As at Dec. 31, 2011
@ US$850/oz Tonnes
(millions)
Grade
(g/t)
Contained Gold
(‘000 oz)
Reserves (1)
Proven 101.6 1.29 4,222
Probable 368.4 0.96 11,351
P&P 470.0 1.03 15,573
Resources (2)
Measured 124.5 1.36 5,424
Indicated 554.3 1.00 17,836
M&I 678.8 1.07 23,261
Inferred 208.5 0.86 5,785
1. After a 95% mining recovery rate; Mining dilution factor of 15.5%.
2. Inclusive of mineral reserves.
DISCOVERY COST
< $10/oz OF
RESERVES
Detour Lake Reserves & Resources
© 2011 Detour Gold All Rights Reserved. 11
Detour Lake Profile (@ US$850/oz)
>1.0 g/t Au
0.5 - 1.0 g/t Au
<0.5 g/t Au
20,600E
16,500E
700 m
Open pit
@ 0.5 g/t cut-off
Detour Lake January 2012
update
Production start Q1 2013
OP reserves (M oz) 15.6
Mill throughput (tpd) 55,000
Strip ratio (waste:ore) 3.6
Gold recoveries 91%
Average grade (g/t) 1.03
Estimated mine life (yrs) 22
Avg. production (oz/yr)(1)(2) 657,000
Initial Capex (C$ B)(3) 1.45
1. After full commissioning in Yr 1.
2. Based on March 2011 TR.
3. Initial capex revised in November 2011.
© 2011 Detour Gold All Rights Reserved. 12
Intermediate Producers Reserves/Share Ratio (Average 0.07)
Source: Bloomberg and Company Reports, Equity Research and Thomson Financial at May 30, 2012.
Note: NAV per share figures are based on equity research consensus; Share data on fully diluted in the money shares outstanding.
.
Valuation Re-rating:<1 Yr from Production
0.17
0.04 0.04
0.12
0.03 0.04
0.14
Avg 0.07
1.1x 1.1x
1.0x
0.8x
0.6x
0.8x
0.6x
Avg 0.9x
Intermediate Producers P/NAV (Average 0.9x)
© 2011 Detour Gold All Rights Reserved. 13
2012E Cash Cost Profile (US$/oz)*
Junior
Producers
Senior
Producers
Intermediate
Producers
$ 796
$ 706 $ 706
$ 800
$ 700
$ 600
$ 500
*Source: BMO Equity Research
Seniors Producers include: Agnico-Eagle, AngloGold Ashanti, Barrick, Gold Fields, Goldcorp, Kinross, Newcrest, Newmont, Polyus and Yamana.
Intermediate Producers include: African Barrick, Alacer, AuRico, Centamin Egypt, Centerra, Eldorado, Harmony, IAMGold, New Gold, Osisko, Petropavlovsk, Randgold and SEMAFO.
Junior Producers include: Alamos Gold, Aurizon, Avion, Avocet, CGA Mining, Cluff Gold, Dundee Precious Metals, Golden Star, Great Basin Gold, Kingsgate, Lake Shore,
OceanaGold, Perseus, Primero, Resolute, San Gold and Teranga.
Total Cash Costs
Since 2010 (release of Feasibility Study),
inflationary pressure seen in operating costs
25%
14%
13% 13%
7%
4%
24% Maintenance Consumables
Royalty
G&A
Diesel Power
Labour
Approx. % of total cash cost/oz in FS1
1. Total estimated cash cost of US$543/oz based on March 2011 TR using cost parameters from feasibility study, including US$850/oz gold price
and US$80/barrel oil.
© 2011 Detour Gold All Rights Reserved. 14 © 2011 Detour Gold All Rights Reserved. 14
Mine Site Construction Progressing on Schedule
© 2011 Detour Gold All Rights Reserved. 15
2010 2011 2012 2013
Construction Schedule Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
Award of Engineering Contract
Award of PCM Contract
Detailed Engineering
Construction camp (1,200 people)
Power line (Phase 1&2) – Electrification
Equipment purchase/delivery & assembly
Pre-stripping
Process plant – Commissioning start-up
Tailings dam construction (first cell)
Provincial Permits/Aboriginal IBAs
Federal Permits
Start production and ramp-up
Detour Lake: We are on Schedule
1 2
GOLD PRODUCTION PROJECTED IN 1Q 2013
© 2011 Detour Gold All Rights Reserved. 16
Capital Expenditures (C$ M)
Description
Spent
May 31,
2012
Committed
May 31,
2012
Project Control
Estimate
(as of 11/2011)
Mining Fleet and Facilities 117 170 203
Crushing and Processing (P&E) 390 586 565
Tailings and Water Mgmt 15 45 65
Infrastructure and Power line 133 148 156
Other Indirect 158 202 310
EPCM 80 100 101
Contingency (10%) - 1 50
Total (pre-production) 893 1,252 1,450
PROJECT CONSTRUCTION 70% COMPLETE
Detour Lake: We are on Budget
© 2011 Detour Gold All Rights Reserved. 17
2012 Pre-Stripping
Feasibility
Study
PCE
(11/2011)
Status
(05/31/2012)
Overburden/Till 16 Mt 21 Mt 5.50 Mt
Waste - 10 Mt 1.82 Mt
Ore 3 Mt -
Estimated Cost C$30 M C$78 M -
PROJECT CHANGE
OF SCOPE
=
A BENEFIT
Ore available for
processing in 2012
Ore ready to be processed by the fourth quarter of 2012
Pre-production capital costs include $78 M for pre-strip activities
Up to 3 Mt of ore ready for process
2012 Operational Readiness Plan
© 2011 Detour Gold All Rights Reserved. 20
10 CAT 795F trucks at site (2 supplied by CAT);
4 more being assembled
2 CAT6060 shovels in operation
Initial Mining Fleet at Site
Loading Units
3 X Hydraulic CAT6060 (25 m3)
2 X Electric cable shovels (48 m3)
Haulers
23 X CAT 795F trucks (320 t);
30-35 at peak of operation
© 2011 Detour Gold All Rights Reserved. 21
45 km
Powerline
Detour Lake Development Progress
Gravel (34 km)
Paved road (151 km)
45 km
Powerline
Detour Lake
Detailed engineering, procurement
of major equipment and awarding
of major contracts complete
Second 45 km segment of
powerline complete
Pre-stripping program ongoing
Installation of mill equipment
underway
Truck wash facilities complete
Permanent camp construction
completed
© 2011 Detour Gold All Rights Reserved. 22 22 Note: Open pit reserves using US$850/oz gold
Detour Lake
Mining Facilities
© 2011 Detour Gold All Rights Reserved. 23
12-06-08
Overview Detour Lake Facilities
Truck Wash Truck Shop &
Warehouse
Mine Offices
Processing Plant
© 2011 Detour Gold All Rights Reserved. 24
12-06-08
Overview Detour Lake Facilities
Primary
Crusher
Stockpile
Reclaim Secondary
Crushers
© 2011 Detour Gold All Rights Reserved. 25
Gyro is
9 m high
Here now
Primary Crusher (up to 100,000 tpd capacity)
35 m
Surface 12-06-08
© 2011 Detour Gold All Rights Reserved. 26
Stockpile Reclaim
12-06-08
Cover Stockpile
Reclaim
Secondary and
Pebble Crushers
12-06-08
© 2011 Detour Gold All Rights Reserved. 28
Processing Plant Building
Hydrocyclones
CIP Tanks
12-06-08
Pumps
© 2011 Detour Gold All Rights Reserved. 29
Conventional gravity and CIP plant
55,000 tpd (=92% availability of 60,000
tpd capacity)
2 parallel lines (each with 1 secondary
cone crusher + 1 SAG and 1 ball mill)
A
A
Simple Process Plant
Estimated gravity recovery: 30-40%
Estimated overall gold recovery: 91.0%
Leach time 29 hours
Leach feed size 80% passing 95 μm
© 2011 Detour Gold All Rights Reserved. 30
Detour Lake Employees & Contractors
Construction Phase
>1,500 workers (currently)
Ramping up DGC team (273)
Operation Phase (Starting 2013)
400-500 employees
Rotation 1 week in /out
New modern camp facilities with
400 en-suite rooms completed
© 2011 Detour Gold All Rights Reserved. 31
Focus: Hiring Local First
28%
22%
44%
4% 2%
Workforce Origin
Cochrane
Cochrane Area
Northern Ontario
Rest of Ontario
Other
*25% of employees are Aboriginals
Professional are: MGMT, Eng., Geo., Supt.
Front Line are: Operators, Admin, Support
28% Reside in Cochrane
Continuing focus on hiring local/regional
25%
75%
Professional
Front Line
273 DETOUR GOLD EMPLOYEES (May 30, 2012) Require a complement of +400 employees by production start in early 2013
© 2011 Detour Gold All Rights Reserved. 32 © 2011 Detour Gold All Rights Reserved. 32
Planning for Organic Growth Under-explored Greenstone Belt
© 2011 Detour Gold All Rights Reserved. 33
Large prospective land position of approx. 540 km2
Land position increased with acquisition of Trade Winds properties
Two main gold structures with total strike length of >80 km
Continue focus on Detour Lake deposit extension (northern structure)
Test targets on structure south of Detour Lake
Future Objectives
Grow reserve base to +20 M oz (@ US$850/oz)
Increase mill throughput to above 75,000 tpd for gold production
output of +800,000 oz/yr
Find high-grade ore near-surface within trucking distance to
supplement mill
5 yr plan for successful organic growth
Planning for Organic Growth
© 2011 Detour Gold All Rights Reserved. 34
Priority #1 on Block A
Area between Block A open pit resource (M-Zone) and the
underground QK Zone discovered by Placer in mid-90’s
Drilling program of 50,000 m in 1H 2012
Start pre-feasibility study for small open pit (Block A resource)
Advance exploration of QK underground zone
Priority #2 on Lower Detour Deformation Zone (+40 km)
5,060 m of diamond drilling completed: N-S drill fence on high-grade drill
hole intercepts (53 g/t Au / 3 m & 22.6 g/t Au / 1 m)
115 km of IP geophysical survey completed
Geological and structural mapping; data compilation
2012 Plan for Successful Organic Growth
© 2011 Detour Gold All Rights Reserved. 35
*Not updated with TWD Dec. 30th PR. On Dec. 1, 2011, Detour Gold announced the acquisition of TWD.
Planning for Organic Growth
Deposit open to the west and at depth
+50,000 m of drilling for 2012 (Block A open pit above QK Zone)
2012 target
© 2011 Detour Gold All Rights Reserved. 36
Block A near-surface resource
Detour Lake
2011 year-end reserves = 15.6 M oz
Priority # 1 - Block A Target
DH included in 2011 year-end reserves
DH not included in 2011 year-end reserves
2012 proposed DH
2012 extension DH
Historical DH
© 2011 Detour Gold All Rights Reserved. 37
Priority # 1 - Block A Target
June 10, 2012
2012 proposed DH
2012 extension DH
2012 completed DH
Historical DH
Cancelled or
not accessible
2011 year-end reserves
= 15.6 M oz
Block A
2012 Drilling Program
© 2011 Detour Gold All Rights Reserved. 38
Existing DDH Gold occurrence (OGS)
DDH intersection >1g/2m DDH intersection >1g/10m
*Note: Excludes drilling around Detour Lake and M zone (Block A).
+80 km of favourable
geology
Insert- see next slide
MMI Survey Coverage
MMI Au Anomaly
Planning for Organic Growth
Sunday Lake Option
15.6 M oz in Reserves
© 2011 Detour Gold All Rights Reserved. 41
2013
2012
2014
Best scenario is throughput
increase from 55,000 to 75,000 tpd
@ US$1,200/oz
Start pre-feasibility on Block A
Complete feasibility study and
assess technical feasibility and
resultant project economics
At >US$1,000/oz and after
successful commercial production
is achieved, proceed with plant
expansion
Complete expansion within 2 years
Evaluating Expansion Opportunities
© 2011 Detour Gold All Rights Reserved. 42
Focus on a world-class asset – Detour Lake
Canada’s largest pure gold play with 15.6 M oz in reserves
(@ US$ 850/oz gold price)
Construction progressing on schedule (70% as of May 31)
One of the best cash flow/share opportunities
Gold production starting in Q1 2013
Excellent organic growth potential (5 year plan)
Potential expansion of mill throughput
Invest in Detour Gold
© 2011 Detour Gold All Rights Reserved. 43 © 2011 Detour Gold All Rights Reserved. 43
Additional Information
© 2011 Detour Gold All Rights Reserved. 44
Detour Lake – Surface Plan
2011 Year-end reserves
= 15.6 M oz
DH included in the 2011 year-end
reserves
DH not included in the 2011 year-end
reserves
Pre 2007 DH
© 2011 Detour Gold All Rights Reserved. 45
QK Zone
Looking 20,070 N
Detour Lake – Long Section
DH included in the 2011 year-end
reserves
DH not included in the 2011 year-end
reserves
Pre 2007 DH
© 2011 Detour Gold All Rights Reserved. 46
1,600
1,400
1,200
1,000
800
600
400
200
0
Ou
nce
s (0
00’s
)
0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9 2.0 2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 2.9 3.0
Cut-off BINs
OK (oz Au)
ID3 (oz Au)
Approx. 3 M oz. between 0.3-0.5 g/t Au
Block Model - Gold Distribution
© 2011 Detour Gold All Rights Reserved. 47
Directors
Peter Crossgrove
Louis Dionne
Robert E. Doyle
Ingrid Hibbard
Michael Kenyon
Alex G. Morrison
Gerald Panneton
Jonathan Rubenstein
Graham Wozniak
Management
Gerald Panneton, Founder, President & CEO, Director
Michael Kenyon, Chairman
Paul Martin, CFO
Pierre Beaudoin, Sr. VP Capital Projects
Pat Donovan, VP Corporate Development
Julie Galloway, VP General Counsel & Corporate Secretary
James Mavor, VP Finance
Rachel Pineault, VP HR & Northern Affairs
James Robertson, VP Environment & Sustainability
Derek Teevan, VP Aboriginal & Government Affairs
Eric Josipovic, Controller
Drew Anwyll, Director of Operations
Andrew Croal, Dir. Technical Services
Laurie Gaborit, Dir. Investor Relations
Greg Miazga, Dir. Construction & Engineering
Bill Snelling, Director Corporate Systems and Controls
Christian Brousseau, Project Manager
Patrik Gillerstedt, Mine Manager
Management & Directors
© 2011 Detour Gold All Rights Reserved. 48
© 2011 Detour Gold All Rights Reserved. 48
Gerald Panneton, President & CEO
Email: [email protected]
Ph: 416 304 0800
Laurie Gaborit, Director Investor Relations
Email: [email protected]
Ph: 416 304 0800
www.detourgold.com
Contact Information