Detour Gold Corporation (TSX: DGC) ("Detour Gold" or the
"Company") is pleased to announce the appointment of Mr. Derek Teevan as
Vice President, Aboriginal and Government Affairs. Mr. Teevan has
valuable experience in leading stakeholder engagement in the areas of
economic development, environmental monitoring and permitting for
companies, government and First Nation communities.
Mr. Teevan joins Detour Gold from De Beers Canada, where he was
Director, Government and Corporate Affairs. He played a key role in the
environmental assessment and permitting of the Victor diamond mine in
northern Ontario. He successfully led First Nation consultations and
negotiations of impact and benefits agreements. Prior to working with De
Beers Canada, Mr. Teevan was a consultant in business development and
strategic planning, including Special Advisor for the Minister of Indian
Affairs and Northern Development where he was involved in successful
economic development and land claim initiatives.
Gerald Panneton, President and CEO, said, "We are delighted to have
Derek join our growing team as we advance the Detour Lake gold project
to development and production. He is a proven leader and brings the
expertise and experience that we need to successfully permit Detour
Lake."
About Detour Gold Corporation
Detour Gold is a Canadian gold exploration and development company whose
focus is to advance the development of its Detour Lake project located
in northeastern Ontario. To date, Detour Gold 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), based on a detailed
engineered pit design at US$700/oz gold price (refer to July 2, 2008
Press Release). Detour Gold is expected to complete a pre-feasibility
study in the second quarter followed by a feasibility study in late
2009.
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.
Forward-Looking Information
This press release contains certain forward-looking information as
defined in applicable securities laws (referred to herein as
"forward-looking statements"). Often, but not always, forward-looking
statements can be identified by the use of words such as "plans",
"expects", "is expected", "budget", "scheduled", "estimates",
"continues", "forecasts", "projects", "predicts", "intends",
"anticipates" or "believes", or variations of, or the negatives 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. Specifically, this press release includes
forward-looking statements regarding: the Company's planned drilling
program and estimate of the quantity and quality of its mineral
resources. Inherent in forward-looking statements are risks,
uncertainties and other factors beyond the Company's ability to predict
or control. These risks, uncertainties and other factors include, but
are not limited to, the uncertainties involved in interpreting
geological data and other risks involved in the gold exploration and
development industry as well as those risk factors listed in the
Company's Annual Information Form (AIF), Item 4.4 -- "Description of
Business - Risk Factors" filed on SEDAR. Readers are cautioned that the
list of factors included in the AIF is not exhaustive of the factors
that may affect the forward-looking statements. Actual results and
developments are likely to differ, and may differ materially, from those
expressed or implied by the forward-looking statements contained in
this press release. Such statements are based on a number of assumptions
which may prove to be incorrect, including, but not limited to, the
following assumptions: the Company's exploration and development
activities on the Detour Lake Property will proceed in accordance with
the Company's current timetables; and the Company's resource estimates,
geological and metallurgical assumptions (including with respect to the
size, grade and recoverability of mineral resources) and operational and
price assumptions on which the resource estimates are based, are
accurate. Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the Company'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. All forward-looking statements herein
are qualified by this cautionary statement. Accordingly, readers should
not place undue reliance on forward-looking statements. The Company
undertakes no obligation to update publicly or otherwise revise any
forward-looking statements whether as a result of new information or
future events or otherwise, except as may be required by law.
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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