dgc 14 05_07-08 - corporate presentation

1

CANADA’S INTERMEDIATE GOLD PRODUCER

Corporate Presentation

Toronto, May 7-8, 2014

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Forward Looking Information This presentation contains certain forward-looking information and statements as defined in applicable securities law (referred to herein as

“forward-looking statements”). Forward-looking statements include, but are not limited to, statements with respect to Detour Gold’s future

financial or operating performance; guidance for production, total cash costs, capital costs, exploration costs; expected throughput, mining

and recovery rates; expected future production and mining activities; opportunities to optimize the mine operation; the updated mine plan

and economic analysis of the Detour Lake mine including, but not limited to, the life of mine plan, the waste to ore ratio, processing and

production rates, grades, metallurgical recovery rates, operating and sustaining capital costs, and the projected life of mine, opportunities to

optimize the mine operation; the success and continuation of exploration activities, the future price of gold, reclamation obligations,

government regulations and environmental risks.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause 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, assumptions and parameters underlying the

life of mine update not being realized, a decrease in the future gold price, discrepancies between actual and estimated production, changes

in costs (including labour, supplies, fuel and equipment), changes to tax rates; environmental compliance and changes in environmental

legislation and regulation, 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 2013 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 availability of financing for exploration and development activities; operating and sustaining capital

costs; the Company’s ability to attract and retain skilled staff; sensitivity to metal prices and other sensitivities; the supply and demand for,

and the level and volatility of the price of, gold; the supply and availability of consumables and services; the exchange rates of the Canadian

dollar to the U.S. dollar; energy and fuel costs; 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 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.

All forward-looking statements in this presentation are necessarily based on opinions and estimates made as of the date such statements

are made and are subject to important risk factors and uncertainties, many of which cannot be controlled or predicted. Detour Gold and the

Qualified Persons who authored the associated Technical Report undertake 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.

3

Notes to Investors

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 February 4, 2014, Detour Gold announced an updated life of mine plan for the Detour Lake mine. The NI 43-101 compliant Technical Report for

this update was filed on SEDAR on February 4, 2014. The following QPs participated in this update: BBA Inc., under the direction of André Allaire,

Eng., Acting President and CEO and Patrice Live, Eng., Director Mining; SGS Canada Inc., under the direction of Yann Camus, Eng., Project

Engineer, and Maxime Dupéré, P.Geo., Senior Geologist; and AMEC Environment & Infrastructure, a Division of AMEC Americas Limited, David G.

Ritchie M.Eng., P.Eng, Senior Associate Geotechnical Engineer and Geotechnical Engineering Group Manager.

The scientific and technical content of this presentation has been reviewed, verified and approved by Drew Anwyll, P.Eng.,

Vice President of Operations, a Qualified Person as defined by Canadian Securities Administrators

National Instrument 43-101 “Standards of Disclosure for Mineral Projects”.

Information Containing Estimates of Mineral Reserves and Resources

Non-IFRS Financial Performance Measures The Company has included “Total cash cost per gold ounce sold (TCC)” and “Adjusted net loss” in this presentation which are non-IFRS measures.

The Company believes that these measures, in addition to conventional measures prepared in accordance with IFRS, provide investors an

improved ability to evaluate the underlying performance of the Company and its ability to generate operating earnings and cash flow from its mining

operations. Refer to the MD&A of March 31, 2014 or relevant period for reconciliation of these measures.

Detour Gold reports total cash costs on a sales basis. Total cash costs per gold ounce sold include production costs such as mining, processing,

refining, site administration, costs associated with providing royalty in-kind ounces, and costs for agreements with Aboriginal communities, but are

exclusive of depreciation and depletion, reclamation, non-cash share-based compensation and deferred stripping. Total cash costs are reduced by

silver sales and divided by gold ounces sold to arrive at total cash costs per gold ounce sold. Further details regarding total cash costs per gold

ounce sold and a reconciliation to the nearest IFRS measures are provided in our MD&A accompanying our financial statements filed on

www.sedar.com. Total cash costs plus capex per gold ounce sold includes TCC as calculated above plus sustaining capital and deferred stripping

divided by gold ounces sold. These non-IFRS measures are intended to provide additional information and should not be considered in isolation or

as a substitute for measures of performance prepared in accordance with IFRS. These measures do not have any standardized meaning

prescribed under IFRS, and therefore may not be comparable to other issuers. Other companies may calculate this measure differently.

4

Invest in Detour Gold

15.5 MILLION oz of gold

in proven and

probable reserves

600 average annual gold

production over next 10 years

~ THOUSAND oz / year 21

in mining-friendly

Ontario, Canada

+ YEAR mine life

A premier intermediate Canadian gold producer

and long-term investment opportunity

5

ONTARIO

Toronto

DETOUR LAKE MINE

Flagship Operation in Canada

Detour Lake mine investment thesis

Low-risk, safe mining jurisdiction

High-quality asset with long mine life

Production growth opportunities

Strong cash flow growth following ramp-up

completion

Leverage to gold price & weakening

Canadian dollar

Strong exploration upside on 100% owned

land package of 630 km2 on Greenstone Belt

6

2014

INCREASE production

DECREASE costs

7

2014 Guidance

450-500 estimated gold production

THOUSAND oz

US$800-900 estimated total cash costs

TCC per oz sold

US$131 estimated capital expenditures

MILLION capex

Other

US$19 M Corporate G&A

US$3 M Exploration program

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1. Refer to the section on Non-IFRS Financial Performance Measures on slide 3 of this presentation.

2. The following price and cost assumptions were used to forecast 2014 production and costs: diesel fuel price of

C$0.95 per litre; power cost of C$0.05 per kilowatt hour; and exchange rate of $1US:$1.05C.

3. Includes deferred stripping costs of US$35 M.

1, 2

second year

of operation

2014

8

2014 Developments

22%

Positive developments to date:

Updated Life of Mine Plan

Closed equity financing for net

proceeds of US$149 million

Repaid US$40 million of debt in Q1

Secured 6-year power contract at

C$0.05/kWh

Q1 production of 107,154 oz

Next Milestones:

Complete ramp-up of Detour Lake

Generate positive cash flows in H2

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Steady state production

& optimization

Mill throughput rates gradually

increase to 55,000 tpd in Q4

Quarterly production increase

expected as mine ramps up:

› H1 = 200,000-225,000 oz

› H2 = 250,000-275,000 oz

50% of overall mill feed from

higher grade ore zones

19 MT ore milled

3.3:1 WASTE:ORE strip ratio

0.87 G/T AU head grade

92 % gold recovery

(1)

1. Includes 7% dilution at 0.20 g/t.

2014 Targets

2014 Operating Plan

10

Q1 2014 Operating Results - Mine

Q1’14 Performance:

4.9 Mt ore mined; strip ratio 2.9:1

Total of 19.2 Mt mined vs 20.9 Mt

planned; shortfall due to:

› In-pit rehandling for pit development

› Shovel allocation (

Avg. mining rates of 213,000 tpd

Run-of-mine stockpiles of 2.8 Mt @

0.78 g/t at Q1 end

Dilution reduced to 4.6%

Next steps:

Mining rates to 230,000 tpd in Q2

Complete mine development by summer

to access higher grade ore for H2

Mining Rates (K tpd)

Q1’13 Q2’13 Q3’13 Q1’14 Q4’13

Ex-P

it

In-l

ine

wit

h

Bu

dg

et

0

50

100

150

200

250

In-pit

rehandling

Shovel

test

231 5 13 213

11

Q1 2014 Operating Results - Mill Q1’14 Performance:

4.1 Mt ore processed @ 0.90 g/t Au

Mill availability 80% vs budget of

82%

Recovery rates as planned

Reduction in cyanide, SO2 and

grinding media consumptions

Next steps:

Further improve mill availability

Reach nameplate capacity of 55,000

tpd in Q4

0

1

2

3

4

5

Q1'13 Q2'13 Q3'13 Q4'13 Q1'14

1.0

0.8

0.2

0.0

0.4

0.6

To

nn

es M

ille

d (

Mt)

Q1’13 Q2’13 Q3’13 Q1’14 Q4’13

80 82 85 92 91

Mill production

He

ad

Gra

de

(g

/t A

u)

Recovery %

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Q1 2014 Operating Results - Costs

Total Cash Costs:

Q1’14 Q4’13

Gold oz sold 84,560 oz 95,000 oz

TCC/ oz sold1 US$976/oz US$1,174/oz

Q1 Progress:

Higher unit mining costs as a result

of ex-pit tonnes shortfall

Unit processing costs under budget

with lower reagents consumption

$-

$5

$10

$15

$20

$25

$30

G&A $3.57/t G&A $4.13/t

Processing

$11.13/t

Processing

$11.75/t

Mining

$2.87/t

mined

Mining

$2.60/t

mined

$28.22/t $29.15/t


Unit Costs (C$/t milled)

Q4’13 Q1’14

Next steps:

Downward trend to continue with

throughput and production increase

Total Cash Costs

$0

13

Q1 2014 Financial Results

Key financial statistics (US$ M) Q1’14

Revenues $110.0 M

Production costs $83.1 M

Depreciation & depletion $30.6M

Loss from mine operations $3.7 M

Cash used by operations $32.1 M

Net loss/Adjusted net loss1 $54.9 M/$28.9 M

Net loss & Adjusted net loss per share1 $0.38/$0.20

Cash & short-term investments $145.2 M

Capex2 totals US$96 M for 2014; only US$5.5 M spent in Q1

No capitalization of stripping costs during period

70,000 oz hedged at an average of US$1,225/oz = < 20% of 2014

remaining forecasted gold sales


2. Sustaining capital excludes deferred stripping, which is budgeted at US$35 M for 2014.

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2014- LIFE OF MINE Updated plan – 02/04/2014 2035

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LOM Plan 02/2014

Update

Proven & Probable Reserves (M oz) 1 15.5

Gold grade (g/t) 1.02

Strip ratio (waste:ore) 3.5

Estimated gold recovery (%) 92

Mine life (years) 21.7

Annual gold production (oz) 660,000

Total cash costs (TCC) (C$/oz sold) 2 $723

Sustaining capital (C$ billion) $1.14

TCC + capex (C$/oz sold) 2 $848

LOM Summary

1. Estimated using a gold price of US$1,000/oz. Includes stockpiles as of December 31, 2013.

2. Refer to the section on Non-IFRS Performance Measures on slide 3. Capex = sustaining capital expenditures + deferred stripping.

Main objective: Optimize first 5 years

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TCC1

(C$/oz sold)

800

700

600

500

400

300

200

100

0

Gold Production

(‘000 oz)

Gold Production/Cost Profile

900

850

800

750

700

650

600

550

500

598,000 oz

C$759/oz

0.96 g/t

596,000 oz

C$762/oz

0.91 g/t

659,000 oz

C$778/oz

1.00 g/t

765,000 oz

C$639/oz

1.16 g/t

1. Refer to the section on Non-IFRS Financial Performance Measures on

slide 3 of this presentation.

600,000 oz/yr for first 10 yrs

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Growth Opportunities

Increase throughput to 61,000 tpd/ 94%

availability for 2017

› Starts in 2014 with installation of 1

cyanide detox tank and 1 additional

oxygen plant

Incorporate Block A into current mine plan

Evaluate heap leach potential of the

low-grade stockpiles

› Grading 0.4-0.5 g/t Au and currently

classified as waste

Test exploration potential of large

prospective property

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Block A Potential

US$1,000/oz

US$1,200/oz

15.5 Moz

@ 1.02 g/t Au P+P

2.0 Moz

@ 1.15 g/t Au M+I

~5.5 km

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Lower Detour Area

15.5 M oz in Reserves

630 km2

2014 Exploration Focus

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2014 Exploration Focus

Lower Detour Area: 14,874 m of drilling completed in 2014

New mineralized system with strike length of 300 m

Tested from surface to depth of 300 m

Qtz or qtz-tourmaline veins with pyrite &

visible gold

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Invest in Detour Gold

15.5 MILLION oz of gold

in proven and

probable reserves

600 average annual gold

production over next 10 years

~ THOUSAND oz / year 21

in mining-friendly

Ontario, Canada

+ YEAR mine life

A premier intermediate Canadian gold producer

and long-term investment opportunity

22

ADDITIONAL information

Shareholder Information

Corporate Responsibility

Detour Lake Mine: LOM

Operating Costs

Detour Lake Mine: LOM &

2014 Sustaining Capital

Detour Gold: Reserves &

Resources

Debt Repayment Schedule

Management & Directors

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Shareholder Information

Paulson & Co

>80% INSTITUTIONS TOTAL 10.8 M Share options

13.0 M Convertible notes 1

181.2 M FULLY DILUTED

157.4 M Issued & outstanding

Share Structure (03/31/2014) Top Shareholders

1. Conversion price for the Notes is US$38.50.

15%

C$1.9 BILLION market cap US$145.2 MILLION

cash position

Share Structure Top Shareholders

24

Focus on health and safety of our employees, the well-being of

our community and the protection of the natural environment

Hiring in the region, giving priority to local Aboriginal communities:

665 full-time employees*

93% of workforce from region

25% are Aboriginals

Scholarship and job training

Supporting local communities

Business opportunities

Participation in municipal development

Corporate philanthropy

Northern

Ontario

40%

Cochrane

23%

Cochrane

Area

30%

Rest of

Ontario

4%

3% Other

Corporate Responsibility

WORKFORCE ORIGIN

* As of March 31, 2014. Excludes corporate office at 34 full-time employees.

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09/12 02/14

Operating Costs C$/t

milled

C$/t

milled

C$/t

mined

C$/oz

sold 2

Mining costs 11.65 11.55 2.56 392

Processing costs 7.83 7.82 266

G&A 1.86 2.44 83

Total cash

operating costs 21.34 21.81 741

Other adjustments 1 (18)

Total cash costs 723

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LOM Operating Costs

1. Other adjustments include costs for deferred stripping, agreements with Aboriginal communities, refining charges and are net

of silver by-product credits.


Maintenance

Labour &

Contractors Power

Diesel

G&A and

other

Consumables

30%

20%

26%

7%

11%

6%

2014 COSTS:

80% of costs in Cdn$

26

LOM Sustaining Capital

Description

5 years

2014 -2018

(C$ M)

Sustaining

Capital LOM

(C$ M)

Mining 168 1 535

Process Plant 71 2 126

TMA 203 3 454

G&A 14 28

Total 456 1,143

Deferred Stripping 225 614

Mine Closure 70

Higher capital in first 5 years:

1. Ramp-up to 38 trucks

2. Complete plant debottlenecking exercise

3. Prepare TMA foundation for 2nd and 3rd cell

50% of sustaining

capital costs in Cdn$

Mine

US$33 M

TMA

US$40 M Deferred

Stripping

US$35 M

2014 SUSTAINING CAPITAL: US$131 M

Other

US$5 M Mill

US$18 M

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Effective December 31, 2013 Tonnes (Mt) Grade (g/t Au) Contained Gold

(koz)

Reserves

(1,2,3,4)

Detour Lake Mine Proven 94.4 1.29 3,901

Probable 379.7 0.95 11,585

P&P 474.0 1.02 15,486

Stockpiles 2.4 0.82 63

Total P&P 476.4 1.02 15,549

Resources (3,4)

Detour Lake Mine Measured (M) 16.4 1.37 725

Indicated (I) 65.9 1.01 2,150

M+I 82.4 1.09 2,874

Block A Measured (M) 1.5 1.21 57

Indicated (I) 52.5 1.15 1,934

M+I 53.9 1.15 1,991

Total M+I 136.3 1.11 4,866

Detour Lake Mine Inferred 19.2 0.75 465

Block A Inferred 2.5 1.23 99

Total Inferred 21.7 0.81 564

Detour Gold: Reserves & Resources

1. Mineral reserves calculated using a gold price of US$1,000/oz; mineral resources calculated using US$1,200/oz. Foreign exchange rate of

C$1.03 to US$1.00.

2. Mineral reserves estimated using a 4% dilution at 0.20 g/t Au (7% at 0.20 g/t Au for 2014) and 5% ore loss.

3. Based on an elevated cut-off grade of 0.5 g/t Au for Detour Lake and cut-off grade of 0.6 g/t Au for Block A.

4. Mineral resources are exclusive of mineral reserves. Mineral resources that are not mineral reserves do not have

demonstrated economic viability. Mineral reserves and resources are compliant with

CIM definitions.

28

Derivative Instruments

Currency Contracts at April 30, 2014 Ounces Notional Amount

US ‘000s

Contract

Rate/Price

Currency Collars $20,000 1.040

Currency Forwards (USD/CAD) $40,000 1.122

Total Derivative Assets $60,000

Currency Collars $20,000 1.085

Gold forwards 30,000 Cdn$1,329/oz

Gold forwards 85,000 US$1,273/oz

Total Derivative Liabilities 115,000 $20,000 US$1,256/oz1

January 2014 commenced gold sales risk management program;

continued FX risk management program throughout Q1

Hedging gains and losses are recorded in net finance income/costs

1. Using exchange rate of $1US:$1.10C.

29

Debt Repayment Schedule

At March 31, 2014 Revolving Credit

Facility (1) CAT Finance Lease Convertible Notes

Face Value US$30 M (1) US$150 M US$500 M

Maturity March 2016 Jan 2017-Dec 2018 (2) November 30, 2017

Interest Rate LIBOR + 3% LIBOR + 4% 5.5%

Payable Monthly Quarterly Semi-annually

Conversion Price n/a n/a $38.50

Payment schedule Principal Principal + Interest Principal Interest Total

(US$M)

2014 - $11.1 - $27.5 $38.6

2015 - $34.5 - $27.5 $62.0

2016 $30 $32.6 - $27.5 $90.1

2017 - $35.8 $500 $27.5 $563.3

Thereafter - $7.1 - - $7.1

Total (US$M) $30 $121.1 $500 $110.0 $761.1

1. The Revolving Credit Facility provides for borrowings of up to C$90 M and is subject to a completion test prior to September 30, 2014.

The Company intends to repay the Revolving Credit Facility within the next 12 months.

2. Includes multiple leases with maturities of 5 yrs from lease date.

30

Michael Kenyon Executive Chairman

Paul Martin President and CEO

Pierre Beaudoin COO

James Mavor CFO

Julie Galloway Sr VP General Counsel &

Corporate Secretary

Derek Teevan Sr VP Corporate &

Aboriginal Affairs

Drew Anwyll VP Operations

Pat Donovan VP Corporate Development

Jean-Francois Metail VP Reserves and Resources

Rachel Pineault VP HR & Aboriginal Affairs

James Robertson VP Environment &

Sustainability

Andrew Croal Director Technical Services

Laurie Gaborit Director Investor Relations

Alberto Heredia Controller

Bill Snelling Director Corporate Systems & Controls

Rickardo Welyhorsky Director Mineral Processing

Charles Hennessey General Manager Operations

Peter Crossgrove

Louis Dionne

Robert E. Doyle

André Falzon

Alex G. Morrison

Jonathan Rubenstein

Graham Wozniak

Ingrid Hibbard

Michael Kenyon

Paul Martin

Management & Directors

Management

Directors

31

Paul Martin President and Chief Executive Officer

Email: [email protected]

Phone: 416.304.0800

Laurie Gaborit Director Investor Relations

Email: [email protected]

Phone: 416.304.0800

www.detourgold.com

Contact Information