Detour Gold Corporation (TSX: DGC) ("Detour Gold" or the "Company") is
pleased to announce the appointment of Paul Martin as Chief Financial
Officer of the Company effective September 22, 2008.
In making this announcement, President and Chief Executive Officer
Gerald Panneton said: "We are extremely delighted to have attracted
management of Paul's caliber to join our growing Detour Gold team.
Paul's operating experience and abilities, especially in the negotiation
of project finance facilities for mining companies, will be very
valuable to us as we advance towards the development of the Detour Lake
gold project."
Mr. Martin has nearly 25 years of finance experience, mainly in the
mining industry. His career started as a Chartered Accountant and
advanced progressively with more senior finance positions in both
precious metals and base metals mining and development companies. Prior
to joining Detour Gold, he was Chief Financial Officer for New Gold Inc.
and for Gabriel Resources Ltd., and Vice President Corporate Finance
for TVX Gold Inc.
Mr. Erik Martin will remain Corporate Secretary and financial consultant
to the Company.
Detour Gold's main focus is the exploration and development of its
Detour Lake gold project located in northern Ontario. To date, the
Company has outlined a measured and indicated resource of 10.8 million
ounces (242.9 million tonnes grading 1.38 g/t gold) and an inferred
resource of 2.4 million ounces (63.9 million tonnes grading 1.19 g/t
gold). The Company is currently completing a feasibility study on the
project to determine the potential economics and capital requirements of
developing the project into a bulk mining open pit operation.
For further information, please contact:
Gerald Panneton, President and CEO
Tel: (416) 304.0800
Laurie Gaborit, Director Investor Relations
Tel: (416) 304.0581
Detour Gold Corporation, Royal Bank Plaza, North Tower, 200 Bay Street,
Suite 2040, Toronto, Ontario M5J 2J1
Information Concerning Estimates of Mineral Resources
This news release uses the terms 'measured', 'indicated' and 'inferred'
resources. Detour Gold advises investors that although these terms are
recognized and required by Canadian regulations (under National
Instrument 43-101 Standards of Disclosure for Mineral Projects), the
U.S. Securities and Exchange Commission does not recognize them.
Investors are cautioned not to assume that any part or all of the
mineral deposits in these categories will ever be converted into
reserves. In addition, 'inferred resources' have a great amount of
uncertainty as to their existence, and 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
rules, estimates of inferred mineral resources may not form the basis of
feasibility or pre-feasibility studies, or economic studies except for
Preliminary Assessment as defined under 43-101. Investors are cautioned
not to assume that part or all of an inferred resource exists, or is
economically or legally mineable.
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