Detour Gold Corporation (TSX: DGC) ("Detour Gold" or the "Company") is
pleased to announce that it has executed a comprehensive Joint Venture
Agreement with Trade Winds Ventures Inc. for the 50/50 joint venture on
the Block A property located immediately west of the Detour Lake
property.
The new agreement formalizes the operating relationship between the
parties, which was previously governed by a binding Letter of Intent
assigned to Detour Gold in January 2007. The agreement also provides
that Detour Gold can become the operator upon the completion of a
feasibility study, provided its interest is still 50% or more.
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 gold project
located in northeastern Ontario. 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"). Specifically, this press release
contains forward-looking statements regarding: Detour Gold's intent to
advance the Detour Lake Project towards the development stage, including
the timing for completion of a pre-feasibility study and a feasibility
study on the Detour Lake gold project. 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 2008 annual information form. 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;
the estimated timeline for the development of the Detour Lake Project;
the supply and demand for, and the level and volatility of the price of,
gold; the accuracy of resource estimates and the assumptions on which
the resource estimates are based; market competition; ongoing relations
with employees and local communities; and general business and economic
conditions. Accordingly, readers should not place undue reliance on
forward-looking 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.
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