Detour Gold Corporation (TSX: DGC) ("Detour Gold" or the
"Company") is pleased to announce that the Moose Cree First Nation
("MCFN") and Detour Gold have signed a Memorandum of Understanding
("MOU") outlining their mutual commitment to working together and
negotiating an Impact and Benefit Agreement ("IBA") for the Detour Lake
gold project in northeastern Ontario.
"Through this MOU, Detour Gold and the MCFN recognize that they have a
mutual interest in negotiating an IBA that respects each other's rights,
titles and interests," said Chief Norm Hardisty.
Gerald Panneton, President and CEO of Detour Gold, commented: "Our
Company is committed to working with the MCFN to create a substantial
level of economic benefit from the future development of the Detour Lake
gold project located within the MCFN homelands. In addition, the
project will generate positive economic opportunities for northeastern
Ontario."
The MOU outlines how the parties will work together as the Detour Lake
project advances through the feasibility and environmental assessment
processes. It lays the ground work for both parties to negotiate an IBA.
It is both parties' intentions to negotiate an IBA that outlines the
involvement and support of the MCFN for the project during the life of
the mine.
For further information please contact:
Gerald Panneton
President and CEO
Detour Gold Corporation
Tel: (416) 304-0800
Norm Hardisty Jr.
Chief
Moose Cree First Nation
Tel: (705) 658-4619
Derek Teevan
VP Government and Aboriginal Affairs
Detour Gold Corporation
Tel: (416) 304-0800
Ernest W. Rickard
Lead Negotiator
Moose Cree First Nation
Tel: (705) 658-4255
Detour Gold Corporation, Royal Bank Plaza, North Tower, 200 Bay Street,
Suite 2040, Toronto, Ontario M5J 2J1. www.detourgold.com
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 the creation of positive
economic opportunities for northeastern Ontario by the Detour Lake gold
project and the intentions of Detour Gold and the Moose Cree First
Nation relating to the negotiation of an IBA. 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 gold
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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