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Q3 2014 Results

Conference Call & Webcast – November 4, 2014

CANADA’S INTERMEDIATE GOLD PRODUCER

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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 are statements that are not historical facts and are generally, but not always,

identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”,

“intends”, “anticipates”, “projects”, “potential”, “believes” or variations of such words and phrases or statements that certain actions, events

or results “may”, “could”, “would”, “should”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation of such terms.

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; and opportunities to optimize the mine operation.

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.

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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)” , “Average realized gold price” 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.

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. Total cash costs plus total capital 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, as calculations may differ. Reconciliation of these measures is described in the MD&A for the second quarter ended June 30, 2014.

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Management Participants

Paul Martin President and

Chief Executive Officer

Pierre Beaudoin Chief Operating Officer

James Mavor Chief Financial Officer

Third Quarter 2014

Operational & Financial Results

Conference Call

and Webcast

All monetary amounts are in U.S. dollars unless otherwise stated.

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Q3 2014 Highlights

1. Refer to the section on Non-IFRS Performance Measures on slide 3. Reconciliation of these measures is

described in the MD&A for the third quarter ended September 30, 2014.

$138.8 MILLION cash and short-term

investments

$136.2 MILLION total revenues

106,334 OZ GOLD sales

from

$0.8 net loss MILLION

or $nil per share

$16.5 adjusted net loss1 MILLION

or $0.10 per share

115,344 OZ GOLD production

$941 / OZ SOLD total cash costs1

Mill facility exceeded design capacity of 55,000 tpd for

55 consecutive days from mid-August to mid-October

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Outlook After First 9 Months

On track to meet production and total cash cost guidance for 2014

Mill operation significantly de-risked: exit year at throughput rates of

55,000 tpd

Capital on budget

Target of $60 M in total debt repayments

1. Refer to the section on Non-IFRS Performance Measures on slide 3. Reconciliation of these measures is described in the MD&A for the

third quarter ended September 30, 2014.

2. Commercial production declared on September 1, 2013. TCC reported is for the month of September 2013.

Q3’132 Q4’13 Q3’14 Q1’14 Q2’14

Gold Production (‘000 oz)

Q3’132 Q4’13 Q2’14 Q1’14

Total Cash Costs ($/oz sold)1

Q3’14

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Q3 2014 Operating Results

0

1

2

3

4

5

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

1.0

0.8

0.2

0.0

0.4

0.6

To

nn

es

Mille

d (

Mt)

Q3’13 Q4’13 Q1’13 Q3’14

1’14

Q2’14

85 92 91 91 90

Mill production

Hea

d G

rad

e (

g/t

Au

) Recovery %

0.88 G/T GOLD head grade 4.53 MILLION

tonnes milled 90 % GOLD recovery

Q3’14 Performance:

Gold production of 115,344 ounces

4.5 Mt of ore processed: 75% direct

feed and 25% ROM stockpiles

Head grade of 0.88 g/t, consistent with

model projections

Recovery rates at 90%

Dilution averaged 6.7%

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Q3 2014 Operating Results - Mine

Q3’14 Performance:

Total of 18.9 Mt mined (206,000 tpd)

4.2 Mt ore mined; strip ratio 3.5

Shortfall in mining rates due to:

› Low drilling productivity and delays in

explosive loading impacting shovel

utilization

› Lower than planned shovel availability

(81% versus 85% target)

Stockpiles = 0.9 Mt @ 0.73 g/t at Q3-end

Southwall pushback and old infrastructure

removal completed

Q1-Q3’14:

16.5 Mt of overburden/till removal

(+95% of 2014 program)

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Q4 2014 Focus - Mine

Plans to improve mining rates:

Improving training and QA/QC to

increase drilling productivity and

efficiencies

Improving delivery and loading of

explosives

Increasing support in the areas of

planning and maintenance for the

mining fleet

De-stacking benches to the south &

east to expose larger mine faces

Result is larger in-pit blasted

inventory, improved shovel allocation

and productivity = more tonnes

mined per day

2014: total tonnage expected to

range between 75 Mt and 77 Mt

(versus target of 82 Mt)

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Q3 2014 Operating Results - Mill

Q3’14 Performance:

Throughput rates averaging 49,186 tpd

Availability at 81%, impacted mainly by

unplanned replacement of SAG pulp lifter

in early July

Plant stabilizing with modifications to 410

conveyor in mid-August:

› Average of 57,020 tpd with 91%

availability over 55 days (up to mid-

October planned shutdown)

Recovery rates as planned, gravity

recovery at 21%

Th

rou

gh

pu

t (K

tpd

)

0

10

20

30

40

50

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

Availability % 1

Q3’13 Q4’13 Q1’14 Q3’14 Q2’14

Mill productivity

81 83 80 66 78

1. Availability = capital utilization.

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Q4 2014 Focus - Mill

Plans for Q4:

Final major planned shutdown took place

in mid-October:

› Primary crusher bowl and mantle

change

› SAG and ball mills liner change

› Pre-leach thickener inspection and

by-pass system installation and test

Focus remains on improving availability

› Availability to high 80s by year-end

Exit 2014 at design rate of 55,000 tpd

Q4’14: Move to final phase of

maintenance improvement plan –

mobile maintenance

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$0

$2

$4

$6

$0

$4

$8

$12

Mining (C$/t mined):

Processing (C$/t milled):

G&A (C$/t milled):

Q3 2014 Operating Results - Costs

$0

$2

$4

$2.87/t $2.87t $2.98/t

Q3 Progress:

Higher mining costs due to

› shortfall in total tonnes mined

Lower milling costs due to

› Lower electricity charges

Outlook:

Downward trend expected with

throughput and production increases

and increased efficiencies

$11.25/t $11.13/t $9.70/t

$3.46/t $3.25/t $3.68/t

Q3’14 Q2’14 Q1’14

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CN detox operational and

2nd oxygen plant ready in

January 2015

Current Status

Near-term Opportunities (2-5 yrs)

1 Increase throughput to 61,000 tpd for 2017 Starts in 2014 with installation of 1 cyanide (CN)

detox tank and 1 additional oxygen plant

2 Block A Project Bring to pre-feasibility study for reserve definition

In progress

3 Pebble Circuit Removal Pebbles appear to be barren

Pebble extractor

prototype being

designed

4 Low-grade material (not in reserves) Segregation of fines

Heap leach

Positive test results for

both

5 Increase exploration activities

On 630 km2 prospective property Planning in progress

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Near-term Opportunities (2-5 yrs)

Segregation of fines:

Positive results from first 200,000

tonnes test

› Grade of 0.60-0.65 g/t = 35-45%

higher than avg. grade of SP

› Processed at 68,000 tpd

Pebble Circuit Removal:

Test results show high variability in

gold content of the pebbles but a

large portion are barren

Initiated design of an ON/OFF

pebble extractor

Low-grade stockpile (avg. grade 0.44 g/t)

Natural segregation of fines

from unloading truck

Mobile feeder

To stacker

unit

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Revenues & Total Cash Costs:

Q3 2014 Financial Review

Q1’14 Q2’14 Q3’14

Gold sales $110.0 M $139.0 M $135.9 M

Ounces sold 84,560 oz 107,206 oz 106,334 oz

Avg realized price1, 2 $1,301/oz $1,293/oz $1,278/oz

TCC/ oz sold2 $976/oz $941/oz $941/oz

1. These amounts exclude realized gains and losses from the Company’s gold sales risk management program which are separately

disclosed in net finance income and costs.

2. Refer to the section on Non-IFRS Performance Measures on slide 3. Reconciliation of these measures is described in the MD&A for

the third quarter ended September 30, 2014.

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Income Statement

($ millions, except per share amount) Q3’14 YTD Q3’14

Revenues $ 136.2 $ 385.2

Cost of Sales

- Production costs

- Depreciation and depletion

(100.6)

(37.3)

(281.9)

(106.1)

Earnings (Loss) from Mine Operations $ (1.7) $ (2.8)

Exploration and evaluation expense (0.5) (3.3)

Corporate and administrative expense (5.7) (21.0)

Loss from Operations $ (7.9) $ (27.1)

Net finance income (cost) 7.1 (63.6)

Earnings (Loss) for the Period $ (0.8) $ (90.7)

Basic Earnings (Loss) per Share $ 0.00 $ (0.59)

Q3 2014 Financial Review

Note: Totals may not down add due to rounding.

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Adjusted net earnings (loss) per share is calculated using the weighted average

number of share outstanding under the basic method of earnings (loss) per share as determined under IFRS.

($ millions, except per share amount) Q3’14 YTD Q3’14

Net Earnings (Loss) $ (0.8) $ (90.7)

Adjusted for:

Fair value (gain) loss of the convertible notes (14.6) 17.0

Foreign exchange (gain) loss 1.3 0.4

Non-cash unrealized (gain) loss on derivative instruments (8.9) (3.5)

Accretion on convertible notes 6.4 18.6

Unwinding of discount on decommissioning and restoration

provisions

0.1

0.2

Electricity rebate - (3.9)

Adjusted Net Earnings (Loss)1 $ (16.5) $ (62.0)

Adjusted Basic Earnings (Loss) per Share1 $ (0.10) $ (0.41)

Q3 2014 Financial Review

1. Refer to the section on Non-IFRS Performance Measures on slide 3. Reconciliation of these measures is described in the MD&A for

the third quarter ended September 30, 2014.

Note: Totals may not down add due to rounding.

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Q3 2014 Financial Review

Cash Flows

($ millions) Q3’14 Q2’14 Q1’14

Operations $ 32.1 $ 38.8 $ 17.9

Working capital Items 15.7 7.5 (50.0)

Operating activities $ 47.8 $ 46.3 $ (32.1)

Investing activities (32.9) (42.1) (22.0)

Financing activities (9.3) (11.4) 110.4

Effects of exchange rate changes (4.8) 0.1 (1.0)

Changes in cash and cash equivalents $ 0.8 $ (7.1) $ 56.3

Cash and cash equivalents – beginning of financial period 136.3 143.4 88.1

Cash and cash equivalents – end of financial period $ 137.1 $ 136.3 $ 143.4

Q3’14 – First breakeven quarter since commercial production

Note: Totals may not down add due to rounding.

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Ramp-up completion by year-end

Guidance and details for 2015 to be disclosed in January

› 2015 mine plan selection to be based on the improvement made in

mining rates for remainder of 2014

› Upside for 2015 mine plan seen with processing of the ‘fines’ from low-

grade stockpile and commissioning of the pebble extractor prototype

Review of next 5 years and LOM plan with the main objective of

reducing sustaining capital.

Future Catalysts

Focus on ‘Quality’ Ounces

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ONTARIO

Toronto

DETOUR LAKE MINE

A Unique Investment Opportunity

Low-risk, safe mining jurisdiction

High-quality asset with long mine life

Production growth opportunities

Cash flow growth following ramp-up

completion

Leverage to gold price & Canadian dollar

Strong exploration upside on 100% owned

land package of 630 km2 on Greenstone Belt

Invest in Detour Gold