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1
CANADA’S
INTERMEDIATE
GOLD
PRODUCER
Corporate Presentation (1-1 Meetings)
March 11, 2015
2
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 include, but are not limited to, statements with respect to Detour Gold’s future
financial or operating performance; guidance for production, total cash costs, all-in sustaining costs, capital costs, deferred stripping costs,
exploration costs; expected throughput, mining and recovery rates; expected future production and mining activities; opportunities to
optimize the mine operation; the mine plan and economic analysis of the Detour Lake mine including, but not limited to, the life of mine plan,
the waste to ore ratio, processing and production rates, grades, metallurgical recovery rates, operating and sustaining capital costs, and the
projected life of mine, opportunities to optimize the mine operation; the success and continuation of exploration activities, the future price of
gold, reclamation obligations, government regulations and environmental risks.
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.
3
Notes to Investors
The mineral reserve and resource estimates reported in this presentation were prepared in accordance with Canadian National Instrument 43-101 Standards 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., Senior Vice President Technical
Services, 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 non-IFRS measures in this presentation: total cash costs and all-in sustaining costs. 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.
The 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. Other companies may calculate these measure differently.
Detour Gold reports total cash costs on a sales basis. Total cash costs per gold ounce include production costs such as mining, processing, refining and site
administration, less non-cash share-based compensation and net of silver sales divided by gold ounces sold to arrive at total cash costs per gold ounce sold.
Production costs are exclusive of depreciation and depletion. Production costs include the costs associated with providing the royalty in kind ounces.
Starting in 2015, the Company will report “all-in sustaining costs”. The Company believes this measure more fully defines the total costs associated with producing
gold. The Company calculates all-in sustaining costs per ounce of gold sold as the aggregate of total cash costs (as described above), share-based compensation,
corporate general and administrative expense, exploration and evaluation expenses that are sustaining in nature, reclamation cost accretion, sustaining capital and
deferred stripping costs.
The following items are excluded from all-in sustaining costs: non-sustaining capital expenditures and exploration costs that are expected to materially increase
production, financing costs and tax expense. Consequently, this measure is not representative of all of the Company’s cash expenditures. In addition, the
Company’s calculation of all-in sustaining costs does not include depletion and depreciation expense.
4
Unique Investment Opportunity
 Large-scale, long mine life
 Largest gold producing mine not
controlled by a senior producer
 Growing cash flow profile
 Production growth opportunities
 Favourable exposure to
Canadian Dollar
DOMINANT
GOLD PRODUCER
IN CANADA
Mining-friendly jurisdiction
5
2015 Production Guidance (Koz)
#2 in Production and #1 in Reserves
DGC
Detour Lake
AEM/YRI
Canadian
Malartic
AEM
Meadowbank
G
Red Lake
Canadian Intermediate Gold Producer
400-
425
560
475-
525
400
Gold Reserves (Moz)
DGC
Detour Lake
AEM/YRI
Canadian
Malartic
AEM
Meadowbank
G
Red Lake
2.1
15.0
8.7
1.2
6
Near doubling of gold production with
21% decrease in total cash costs
Year-end cash position of US$135 M
Debt reduced by US$57 million
Successful preliminary results on
processing enriched portion of low-
grade stockpile
Encouraging high-grade drilling results
at Lower Detour
$1,182
$928
$300
$500
$700
$900
$1,100
$1,300
$1,500
0
50
100
150
200
250
300
350
400
450
500
457232
■ Total Cash Costs (US$/oz sold)1
■ Gold Production (K oz)
2013 2014
232 457
1. Refer to the section on Non-IFRS Performance Measures on slide 3 of this presentation.
2014 Highlights
Delivered on production, cost, and capex
Detour Lake Mine
7
475-525THOUSAND
oz gold
US$780-850 TCC
per oz sold
(1)
US$1,050-1,150
All-in sustaining costs
AISC
per oz sold
(1)
Estimated production
Estimated costs
Total cash costs
Cost Assumptions (US$)
 Gold price of $1,200/oz, diesel fuel price of $0.82 per litre; power cost of $0.04 per
kilowatt hour; and exchange rate of $1.00US:$1.15Cdn.
1. Refer to the section on Non-IFRS Performance Measures on slide 3 of this presentation.
2015 Guidance
third year
of operation
2015
8
2015 Key Targets
PLAN FOR MILL
~54,000 tpd mill throughput
(milling rates of ~2,600 tpoh
at 87% availability)
2
 Improve mill availability
 Improve recovery
PLAN FOR MINE
238,000 tpd average mining rate
(approx. 87 Mt total mined)
1
 Improve drilling performance
 Increase shovel productivity
Strong focus on optimization and efficiency
FOCUS:FOCUS:
9
Improve mining rates
2015 Plan for Mine
0
40
80
120
160
200
240
280
10 5 20
Q1 Q2 Q4Q3
PHASE I
2015 Projected Mining Rates (Ktpd)
PHASE II
Targets for
improvement
222222 222222
1616 1616
280
240
200
160
120
80
40
0
Higher mining rates
= Higher feed grade
30
 Budget 222,000 tpd for Phase 1 mining rates
 Target 250,000 tpd for Phase 1 by year-end
10
200
160
120
80
40
0
Improve mining rates
2015 Plan for Mine
0
20
40
60
80
100
120
140
160
180
200
H H H
H
2015 Estimated Production (Koz)
L
L LL
SP
Higher mining rates
= Lower unit costs
Q1 Q2 Q4Q3
 Work towards bringing Q4 ounces into Q3 (i.e. Q4 ROM
stockpile of 1.8 Mt at 0.80 g/t)
11
Improve availability
2015 Guidance Mid-point
2015 Plan for Mill
 Targeting an average of 87% for mill availability
 Improve recovery with 2nd oxygen plan
MT
ore milled
3.5:1WASTE:ORE
strip ratio
0.86 G/T AU
head grade
91.5 %
gold recovery
19.7
Targeting 55,000 tpd
Q2-Q4
12
~80% of costs in Cdn$
2015 Operating Costs
Maintenance
Labour &
Contractors
Power
Fuel
G&A and
other
Consumables
30%
15%
33%
7%
11%
4%
Forecast (C$)
Mining ($/t mined) $2.60
Processing ($/t milled) $9.87
G&A ($/t milled) $3.05
 Electricity contract in place to
Dec 2019
› Charges not to exceed
C$0.05/kWh
› Extension request for +3 years
Forecast Breakdown
of 2015 Operating Costs
13
Breakdown of 2015
Sustaining Capital (US$):
Mine
$30 M
TMA
$34 M
Other
$13 M
Mill
$9 M
Water Management
$10 M
13
2015 All-in Sustaining Costs (AISC)
Forecast (US$)
Total Cash Costs (TCC) $780-850/oz sold1
Sustaining Capital $90-100 M
Capitalized Stripping $20-25 M
Corporate G&A $20 M
Exploration $2 M
AISC $1,050-1,150/oz sold1
 Overall timing of expenditures weighted in Q2 & Q3
 Capitalized stripping costs to be incurred within the first 9 months
~90% of costs in Cdn$
1. Refer to the section on Non-IFRS Performance Measures on slide 3 of this presentation.
14
Upside for lower costs (US$ M)
Now 1.25 vs
1.15 budget
If 2015 avg rate
is same as 2014
If 10% lower than
budget US$0.82/L
Up to
$35 M
LOWER
CANADIAN
DOLLAR
COST
REDUCTION
PROGRAM
ELECTRICITY
CONTRACT
BENEFIT
LOWER
DIESEL
PRICE
Consumables
and contractors
$4 M
Probability factor of 50% = approx. $30 M reduction
Up toUp to
$20 M $7 M
2015 Potential Cost Reductions
15
 Targeting 3,000 tpd
(or 0.5 Mt) for H2 2015
 No capital injection
 Mining costs already paid
for; rehandling only
2015 Start Realizing on Opportunities
Potential 15,000 - 25,000 oz/yr
at low cost
Potential to increase production and reduce costs
1PROCESSING OF FINES
Low-grade stockpile (avg. grade 0.44 g/t)
Natural segregation of
fines from unloading truck
Test #1: avg. grade of fines ~0.65 g/t
16
 Economic review underway
 < US$2 M for prototype
 Use barren pebbles for road
or tailings dam construction
2015 Start Realizing on Opportunities
Up to 1 Mt/yr incremental
mill throughput = savings
Potential to increase production and reduce costs
2PEBBLE EXTRACTION
Mobile feeder
17
Evaluate best economics for Detour Lake
 Trade off studies:
› Tonnage rationalization study
 Include processing of fines and
pebble extraction
 Timing for second feed source
from Block A (2 Moz M&I
resource)1
 Review of cost estimates
Optimizing Economic Returns
3LOM PLAN UPDATE
1. Refer to February 2014 Technical Report: Measured: 1.5 Mt @ 1.21 g/t (57,000 oz);
Indicated: 52.5 Mt @ 1.15 g/t (1.93 M oz).
18
Goal: Strengthen balance sheet and financial flexibility
Solid Financial Position
No debt
maturities
until Nov.
2017
Repaid in
Q1 2015 &
2014
(US$ M)
Towards repaying convertible notes
1
CREDIT FACILITY
2 Restructure credit & lease facilities
SURPLUS CASH
$57
$124
Revolver +
CAT Lease
$500
Convertible
Notes
19
Balanced risk management strategy (US$)
Prudent Financial Management
DIESELCURRENCY
Currency exchange
contracts
Looking at hedging
diesel in 2015
GOLD
Hedge up to 50% of
2015 gold production
Forward sales on
110,000 oz @
$1,250/oz (Mar. 6)
Zero-cost collars for
$90 M with a ceiling
of 1.20 (Mar. 6)
Forward contracts
for $50 M at 1.26
11% of operating
costs
$50/oz change =
~$25 M
$0.01 change = ~$4 M 10% change = ~$4 M
Impact on cash position
20
Guidance
midpoint
at $1200 /oz Au at $1250 /oz Au Guidance
midpoint
at 1.25 f/x at $1250 /oz Au
2015 Cash Flow Projections
Guidance
midpoint
@ $1,250/oz
F/X 1.25
@ $1,200/oz
F/X 1.25
~$40
~$10
~$65 ~$170
~$140
~$195
Goal: US$100 M surplus cash towards convertible notes
Pro-Forma Net Cash Flow 2015 Yr-end Cash Balance
(US$ M)
Note: Guidance at gold price of $1,200/oz, F/X rate of 1.15 and capex of $123 M
(sustaining + deferred stripping).
Guidance
midpoint
@ $1,250/oz
F/X 1.25
@ $1,200/oz
F/X 1.25
21
Lower Detour
Area
630 km2
Q1 2015 Drilling: Lower Detour
Block A
Resource
Detour Lake
OP Mine
22
Completed 3,500 m drilling program
 Lower Detour area approx.
6-7 km south of mill
 Test depth extension of
high-grade intersections
in Zone 58N
 All 5 holes completed
intersected mineralized
zone at 150 to 200 metres
below last year’s drill holes
 Assays are pending
Note: Refer to press release June 2, 2014 for the winter
2014 drill results.
Q1 2015 Drilling: Lower Detour
23
PRODUCTION GROWTH /
DECLINING UNIT COSTS
REALIZE VALUE-ENHANCING
OPPORTUNITIES
MATERIAL INPUTS TRENDING
FAVOURABLY
GROWING CASH FLOW
A GREAT TIME TO BE A
GOLD PRODUCER!
24
ADDITIONAL
information
 Analyst Coverage
 Shareholder Information
 Corporate Responsibility
 2014 Operational Statistics
 Detour Lake & Block A
 Management & Directors
 Contact Information
25
Initiating
Research
Firm Analyst Target Price at
March 11, 2015
07.06.11 Haywood Kerry Smith $14.00
07.07.09 Paradigm Don Blyth/Don MacLean $14.50
07.08.07 Raymond James Phil Russo $17.50
07.11.26 National Bank Steve Parsons $15.25
07.12.20 Macquarie Mike Siperco $20.00
08.01.14 Canaccord Rahul Paul $15.00
08.07.14 TD Dan Earle $17.50
08.09.04 RBC Dan Rollins $16.00
08.11.06 BMO NB Brian Quast $15.50
09.06.17 Laurentian Killian Charles Under review
10.05.19 CIBC World Markets Cosmos Chiu $16.50
10.07.22 Credit Suisse Anita Soni $15.00
13.04.16 Scotiabank Trevor Turnbull $20.00
13.08.14 Desjardins Michael Parkin $16.50
13.11.12 Beacon Securities Michael Curran $13.00
13.12.09 GMP Securities Ian Parkinson $10.20
14.02.06 Cormark Securities Richard Gray/Tyron Breytenbach $18.00
14.04.22 Goldman Sachs Andrew Quail $12.00
14.06.17 Dundee Capital Markets Joseph Fazzini $16.50
14.09.03 Morgan Stanley Brad Humphrey $13.75
Average target C$15.62
Analyst Coverage (20)
26
1. Conversion price for the Notes is US$38.50.
2. Cash and short-term investments at December 31, 2014.
Shareholder Information
Paulson & Co.
>80% INSTITUTIONS TOTAL10.2 M Share options
13.0 M Convertible notes 1
193.7 M FULLY DILUTED
170.6 M Issued & outstanding
Share Structure (03/31/2014) Top Shareholders
13%
C$1.6 BILLION
market capUS$135.3 MILLION
cash position2
Share Structure (February 28, 2015) Top Shareholders
27
Responsible mining is more than a commitment
- It’s what we do every day
 Our commitments to
community benefits are
being realized and will
grow as the mine matures
 Steady state operations
allows us to report on our
operational, environmental,
and social impacts.
 Our first CSR update has been published and is available on
our website
 Our Life Saving Rules help raise the visibility of safety to
ensure everyone on our site goes home safely
Corporate Responsibility
MAINTENANCE
LABOUR
18%
28
2014 Operational Statistics
Q1 Q2 Q3 Q4 2014
Ore mined (Mt) 4.88 2.89 4.20 4.30 16.28
Waste mined (Mt) 14.29 16.11 14.71 15.39 60.49
Total mined (Mt) 19.17 19.00 18.91 19.69 76.77
Strip ratio (waste:ore) 2.9 5.6 3.5 3.6 3.7
Mining rate (tpd) 213,000 209,000 206,000 214,000 210,000
Ore milled (Mt) 4.08 4.42 4.53 4.70 17.73
Mill grade (g/t Au) 0.90 0.91 0.88 0.85 0.88
Recovery (%) 91 91 90 91 91
Mill throughput (tpd) 45,282 48,569 49,186 51,142 48,563
Mill availability (%) 80 83 81 83 81
Ounces produced (oz) 107,154 117,366 115,344 116,770 456,634
Ounces sold (oz) 84,560 107,206 106,334 124,913 423,013
29
Effective December 31, 2014 Tonnes (Mt) Grade (g/t Au) Contained Gold (koz)
Reserves
(1,2,3,4,5)
Detour Lake Mine Proven 94.2 1.25 3,795
Probable 364.6 0.95 11,146
P&P 458.8 1.01 14,941
Stockpiles 0.7 0.74 16
Total P&P 459.4 1.01 14,957
Resources
(1,3,4,5)
Detour Lake Mine Measured (M) 16.4 1.37 725
Indicated (I) 65.9 1.01 2,150
M+I 82.4 1.09 2,874
Block A Measured (M) 1.5 1.21 57
Indicated (I) 52.5 1.15 1,934
M+I 53.9 1.15 1,991
Total M+I 136.3 1.11 4,866
Detour Lake Mine Inferred 19.1 0.75 463
Block A Inferred 2.5 1.23 99
Total Inferred 21.6 0.81 562
Detour Gold: Reserves & Resources
1. Mineral reserves calculated using a gold price of US$1,000/oz; mineral resources calculated using US$1,200/oz. Foreign exchange
rate of C$1.03 to US$1.00 (refer to the “Detour Lake Mine NI 43-101 Technical Report dated February 4, 2014).
2. Mineral reserves estimated using a 4% dilution at 0.20 g/t Au and 5% ore loss.
3. Based on an elevated cut-off grade of 0.5 g/t Au for Detour Lake and cut-off grade of 0.6 g/t Au for Block A.
4. Mineral resources are exclusive of mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated
economic viability. Mineral reserves and resources are compliant with CIM definitions.
5. Totals may not add due to rounding.
30
Detour Lake & Block A
US$1,000/oz
US$1,200/oz
15.5 Moz
@ 1.02 g/t Au
P+P
2.0 Moz
@ 1.15 g/t Au
M+I
~5.5 km
Current
North
Pit
Note: Mineral reserves and resources as of December 31, 2013. Refer to February 2014 Technical Report.
31
 Paul Martin
President and CEO
 Pierre Beaudoin
COO
 James Mavor
CFO
 Drew Anwyll
Sr VP Technical Services
 Julie Galloway
Sr VP General Counsel &
Corporate Secretary
 Derek Teevan
Sr VP Corporate &
Aboriginal Affairs
 Jean-Francois Metail
VP Mineral Resource
Management
 Rachel Pineault
VP HR & Aboriginal Affairs
 Jim Robertson
VP Environment &
Sustainability
 Charles Hennessey
Mine General Manager
 Andrew Croal
Director Technical Services
 Laurie Gaborit
Director Investor Relations
 Alberto Heredia
Controller
 Bill Snelling
Director Corporate Systems & Controls
 Rickardo Welyhorsky
Director Mineral Processing
 Lisa Colnett
 Louis Dionne
 Robert E. Doyle
 André Falzon
 Alex G. Morrison
 Jonathan Rubenstein
 Graham Wozniak
 Ingrid Hibbard
 Michael Kenyon
 Paul Martin
Management & Directors
Management
Directors
32
Laurie Gaborit
Director Investor Relations
Email: lgaborit@detourgold.com
Phone: 416.304.0581
Paul Martin
President and Chief Executive Officer
Email: pmartin@detourgold.com
Phone: 416.304.0800
www.detourgold.com
Contact Information

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Corporate Presentation

  • 2. 2 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 include, but are not limited to, statements with respect to Detour Gold’s future financial or operating performance; guidance for production, total cash costs, all-in sustaining costs, capital costs, deferred stripping costs, exploration costs; expected throughput, mining and recovery rates; expected future production and mining activities; opportunities to optimize the mine operation; the mine plan and economic analysis of the Detour Lake mine including, but not limited to, the life of mine plan, the waste to ore ratio, processing and production rates, grades, metallurgical recovery rates, operating and sustaining capital costs, and the projected life of mine, opportunities to optimize the mine operation; the success and continuation of exploration activities, the future price of gold, reclamation obligations, government regulations and environmental risks. 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.
  • 3. 3 Notes to Investors The mineral reserve and resource estimates reported in this presentation were prepared in accordance with Canadian National Instrument 43-101 Standards 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., Senior Vice President Technical Services, 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 non-IFRS measures in this presentation: total cash costs and all-in sustaining costs. 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. The 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. Other companies may calculate these measure differently. Detour Gold reports total cash costs on a sales basis. Total cash costs per gold ounce include production costs such as mining, processing, refining and site administration, less non-cash share-based compensation and net of silver sales divided by gold ounces sold to arrive at total cash costs per gold ounce sold. Production costs are exclusive of depreciation and depletion. Production costs include the costs associated with providing the royalty in kind ounces. Starting in 2015, the Company will report “all-in sustaining costs”. The Company believes this measure more fully defines the total costs associated with producing gold. The Company calculates all-in sustaining costs per ounce of gold sold as the aggregate of total cash costs (as described above), share-based compensation, corporate general and administrative expense, exploration and evaluation expenses that are sustaining in nature, reclamation cost accretion, sustaining capital and deferred stripping costs. The following items are excluded from all-in sustaining costs: non-sustaining capital expenditures and exploration costs that are expected to materially increase production, financing costs and tax expense. Consequently, this measure is not representative of all of the Company’s cash expenditures. In addition, the Company’s calculation of all-in sustaining costs does not include depletion and depreciation expense.
  • 4. 4 Unique Investment Opportunity  Large-scale, long mine life  Largest gold producing mine not controlled by a senior producer  Growing cash flow profile  Production growth opportunities  Favourable exposure to Canadian Dollar DOMINANT GOLD PRODUCER IN CANADA Mining-friendly jurisdiction
  • 5. 5 2015 Production Guidance (Koz) #2 in Production and #1 in Reserves DGC Detour Lake AEM/YRI Canadian Malartic AEM Meadowbank G Red Lake Canadian Intermediate Gold Producer 400- 425 560 475- 525 400 Gold Reserves (Moz) DGC Detour Lake AEM/YRI Canadian Malartic AEM Meadowbank G Red Lake 2.1 15.0 8.7 1.2
  • 6. 6 Near doubling of gold production with 21% decrease in total cash costs Year-end cash position of US$135 M Debt reduced by US$57 million Successful preliminary results on processing enriched portion of low- grade stockpile Encouraging high-grade drilling results at Lower Detour $1,182 $928 $300 $500 $700 $900 $1,100 $1,300 $1,500 0 50 100 150 200 250 300 350 400 450 500 457232 ■ Total Cash Costs (US$/oz sold)1 ■ Gold Production (K oz) 2013 2014 232 457 1. Refer to the section on Non-IFRS Performance Measures on slide 3 of this presentation. 2014 Highlights Delivered on production, cost, and capex Detour Lake Mine
  • 7. 7 475-525THOUSAND oz gold US$780-850 TCC per oz sold (1) US$1,050-1,150 All-in sustaining costs AISC per oz sold (1) Estimated production Estimated costs Total cash costs Cost Assumptions (US$)  Gold price of $1,200/oz, diesel fuel price of $0.82 per litre; power cost of $0.04 per kilowatt hour; and exchange rate of $1.00US:$1.15Cdn. 1. Refer to the section on Non-IFRS Performance Measures on slide 3 of this presentation. 2015 Guidance third year of operation 2015
  • 8. 8 2015 Key Targets PLAN FOR MILL ~54,000 tpd mill throughput (milling rates of ~2,600 tpoh at 87% availability) 2  Improve mill availability  Improve recovery PLAN FOR MINE 238,000 tpd average mining rate (approx. 87 Mt total mined) 1  Improve drilling performance  Increase shovel productivity Strong focus on optimization and efficiency FOCUS:FOCUS:
  • 9. 9 Improve mining rates 2015 Plan for Mine 0 40 80 120 160 200 240 280 10 5 20 Q1 Q2 Q4Q3 PHASE I 2015 Projected Mining Rates (Ktpd) PHASE II Targets for improvement 222222 222222 1616 1616 280 240 200 160 120 80 40 0 Higher mining rates = Higher feed grade 30  Budget 222,000 tpd for Phase 1 mining rates  Target 250,000 tpd for Phase 1 by year-end
  • 10. 10 200 160 120 80 40 0 Improve mining rates 2015 Plan for Mine 0 20 40 60 80 100 120 140 160 180 200 H H H H 2015 Estimated Production (Koz) L L LL SP Higher mining rates = Lower unit costs Q1 Q2 Q4Q3  Work towards bringing Q4 ounces into Q3 (i.e. Q4 ROM stockpile of 1.8 Mt at 0.80 g/t)
  • 11. 11 Improve availability 2015 Guidance Mid-point 2015 Plan for Mill  Targeting an average of 87% for mill availability  Improve recovery with 2nd oxygen plan MT ore milled 3.5:1WASTE:ORE strip ratio 0.86 G/T AU head grade 91.5 % gold recovery 19.7 Targeting 55,000 tpd Q2-Q4
  • 12. 12 ~80% of costs in Cdn$ 2015 Operating Costs Maintenance Labour & Contractors Power Fuel G&A and other Consumables 30% 15% 33% 7% 11% 4% Forecast (C$) Mining ($/t mined) $2.60 Processing ($/t milled) $9.87 G&A ($/t milled) $3.05  Electricity contract in place to Dec 2019 › Charges not to exceed C$0.05/kWh › Extension request for +3 years Forecast Breakdown of 2015 Operating Costs
  • 13. 13 Breakdown of 2015 Sustaining Capital (US$): Mine $30 M TMA $34 M Other $13 M Mill $9 M Water Management $10 M 13 2015 All-in Sustaining Costs (AISC) Forecast (US$) Total Cash Costs (TCC) $780-850/oz sold1 Sustaining Capital $90-100 M Capitalized Stripping $20-25 M Corporate G&A $20 M Exploration $2 M AISC $1,050-1,150/oz sold1  Overall timing of expenditures weighted in Q2 & Q3  Capitalized stripping costs to be incurred within the first 9 months ~90% of costs in Cdn$ 1. Refer to the section on Non-IFRS Performance Measures on slide 3 of this presentation.
  • 14. 14 Upside for lower costs (US$ M) Now 1.25 vs 1.15 budget If 2015 avg rate is same as 2014 If 10% lower than budget US$0.82/L Up to $35 M LOWER CANADIAN DOLLAR COST REDUCTION PROGRAM ELECTRICITY CONTRACT BENEFIT LOWER DIESEL PRICE Consumables and contractors $4 M Probability factor of 50% = approx. $30 M reduction Up toUp to $20 M $7 M 2015 Potential Cost Reductions
  • 15. 15  Targeting 3,000 tpd (or 0.5 Mt) for H2 2015  No capital injection  Mining costs already paid for; rehandling only 2015 Start Realizing on Opportunities Potential 15,000 - 25,000 oz/yr at low cost Potential to increase production and reduce costs 1PROCESSING OF FINES Low-grade stockpile (avg. grade 0.44 g/t) Natural segregation of fines from unloading truck Test #1: avg. grade of fines ~0.65 g/t
  • 16. 16  Economic review underway  < US$2 M for prototype  Use barren pebbles for road or tailings dam construction 2015 Start Realizing on Opportunities Up to 1 Mt/yr incremental mill throughput = savings Potential to increase production and reduce costs 2PEBBLE EXTRACTION Mobile feeder
  • 17. 17 Evaluate best economics for Detour Lake  Trade off studies: › Tonnage rationalization study  Include processing of fines and pebble extraction  Timing for second feed source from Block A (2 Moz M&I resource)1  Review of cost estimates Optimizing Economic Returns 3LOM PLAN UPDATE 1. Refer to February 2014 Technical Report: Measured: 1.5 Mt @ 1.21 g/t (57,000 oz); Indicated: 52.5 Mt @ 1.15 g/t (1.93 M oz).
  • 18. 18 Goal: Strengthen balance sheet and financial flexibility Solid Financial Position No debt maturities until Nov. 2017 Repaid in Q1 2015 & 2014 (US$ M) Towards repaying convertible notes 1 CREDIT FACILITY 2 Restructure credit & lease facilities SURPLUS CASH $57 $124 Revolver + CAT Lease $500 Convertible Notes
  • 19. 19 Balanced risk management strategy (US$) Prudent Financial Management DIESELCURRENCY Currency exchange contracts Looking at hedging diesel in 2015 GOLD Hedge up to 50% of 2015 gold production Forward sales on 110,000 oz @ $1,250/oz (Mar. 6) Zero-cost collars for $90 M with a ceiling of 1.20 (Mar. 6) Forward contracts for $50 M at 1.26 11% of operating costs $50/oz change = ~$25 M $0.01 change = ~$4 M 10% change = ~$4 M Impact on cash position
  • 20. 20 Guidance midpoint at $1200 /oz Au at $1250 /oz Au Guidance midpoint at 1.25 f/x at $1250 /oz Au 2015 Cash Flow Projections Guidance midpoint @ $1,250/oz F/X 1.25 @ $1,200/oz F/X 1.25 ~$40 ~$10 ~$65 ~$170 ~$140 ~$195 Goal: US$100 M surplus cash towards convertible notes Pro-Forma Net Cash Flow 2015 Yr-end Cash Balance (US$ M) Note: Guidance at gold price of $1,200/oz, F/X rate of 1.15 and capex of $123 M (sustaining + deferred stripping). Guidance midpoint @ $1,250/oz F/X 1.25 @ $1,200/oz F/X 1.25
  • 21. 21 Lower Detour Area 630 km2 Q1 2015 Drilling: Lower Detour Block A Resource Detour Lake OP Mine
  • 22. 22 Completed 3,500 m drilling program  Lower Detour area approx. 6-7 km south of mill  Test depth extension of high-grade intersections in Zone 58N  All 5 holes completed intersected mineralized zone at 150 to 200 metres below last year’s drill holes  Assays are pending Note: Refer to press release June 2, 2014 for the winter 2014 drill results. Q1 2015 Drilling: Lower Detour
  • 23. 23 PRODUCTION GROWTH / DECLINING UNIT COSTS REALIZE VALUE-ENHANCING OPPORTUNITIES MATERIAL INPUTS TRENDING FAVOURABLY GROWING CASH FLOW A GREAT TIME TO BE A GOLD PRODUCER!
  • 24. 24 ADDITIONAL information  Analyst Coverage  Shareholder Information  Corporate Responsibility  2014 Operational Statistics  Detour Lake & Block A  Management & Directors  Contact Information
  • 25. 25 Initiating Research Firm Analyst Target Price at March 11, 2015 07.06.11 Haywood Kerry Smith $14.00 07.07.09 Paradigm Don Blyth/Don MacLean $14.50 07.08.07 Raymond James Phil Russo $17.50 07.11.26 National Bank Steve Parsons $15.25 07.12.20 Macquarie Mike Siperco $20.00 08.01.14 Canaccord Rahul Paul $15.00 08.07.14 TD Dan Earle $17.50 08.09.04 RBC Dan Rollins $16.00 08.11.06 BMO NB Brian Quast $15.50 09.06.17 Laurentian Killian Charles Under review 10.05.19 CIBC World Markets Cosmos Chiu $16.50 10.07.22 Credit Suisse Anita Soni $15.00 13.04.16 Scotiabank Trevor Turnbull $20.00 13.08.14 Desjardins Michael Parkin $16.50 13.11.12 Beacon Securities Michael Curran $13.00 13.12.09 GMP Securities Ian Parkinson $10.20 14.02.06 Cormark Securities Richard Gray/Tyron Breytenbach $18.00 14.04.22 Goldman Sachs Andrew Quail $12.00 14.06.17 Dundee Capital Markets Joseph Fazzini $16.50 14.09.03 Morgan Stanley Brad Humphrey $13.75 Average target C$15.62 Analyst Coverage (20)
  • 26. 26 1. Conversion price for the Notes is US$38.50. 2. Cash and short-term investments at December 31, 2014. Shareholder Information Paulson & Co. >80% INSTITUTIONS TOTAL10.2 M Share options 13.0 M Convertible notes 1 193.7 M FULLY DILUTED 170.6 M Issued & outstanding Share Structure (03/31/2014) Top Shareholders 13% C$1.6 BILLION market capUS$135.3 MILLION cash position2 Share Structure (February 28, 2015) Top Shareholders
  • 27. 27 Responsible mining is more than a commitment - It’s what we do every day  Our commitments to community benefits are being realized and will grow as the mine matures  Steady state operations allows us to report on our operational, environmental, and social impacts.  Our first CSR update has been published and is available on our website  Our Life Saving Rules help raise the visibility of safety to ensure everyone on our site goes home safely Corporate Responsibility MAINTENANCE LABOUR 18%
  • 28. 28 2014 Operational Statistics Q1 Q2 Q3 Q4 2014 Ore mined (Mt) 4.88 2.89 4.20 4.30 16.28 Waste mined (Mt) 14.29 16.11 14.71 15.39 60.49 Total mined (Mt) 19.17 19.00 18.91 19.69 76.77 Strip ratio (waste:ore) 2.9 5.6 3.5 3.6 3.7 Mining rate (tpd) 213,000 209,000 206,000 214,000 210,000 Ore milled (Mt) 4.08 4.42 4.53 4.70 17.73 Mill grade (g/t Au) 0.90 0.91 0.88 0.85 0.88 Recovery (%) 91 91 90 91 91 Mill throughput (tpd) 45,282 48,569 49,186 51,142 48,563 Mill availability (%) 80 83 81 83 81 Ounces produced (oz) 107,154 117,366 115,344 116,770 456,634 Ounces sold (oz) 84,560 107,206 106,334 124,913 423,013
  • 29. 29 Effective December 31, 2014 Tonnes (Mt) Grade (g/t Au) Contained Gold (koz) Reserves (1,2,3,4,5) Detour Lake Mine Proven 94.2 1.25 3,795 Probable 364.6 0.95 11,146 P&P 458.8 1.01 14,941 Stockpiles 0.7 0.74 16 Total P&P 459.4 1.01 14,957 Resources (1,3,4,5) Detour Lake Mine Measured (M) 16.4 1.37 725 Indicated (I) 65.9 1.01 2,150 M+I 82.4 1.09 2,874 Block A Measured (M) 1.5 1.21 57 Indicated (I) 52.5 1.15 1,934 M+I 53.9 1.15 1,991 Total M+I 136.3 1.11 4,866 Detour Lake Mine Inferred 19.1 0.75 463 Block A Inferred 2.5 1.23 99 Total Inferred 21.6 0.81 562 Detour Gold: Reserves & Resources 1. Mineral reserves calculated using a gold price of US$1,000/oz; mineral resources calculated using US$1,200/oz. Foreign exchange rate of C$1.03 to US$1.00 (refer to the “Detour Lake Mine NI 43-101 Technical Report dated February 4, 2014). 2. Mineral reserves estimated using a 4% dilution at 0.20 g/t Au and 5% ore loss. 3. Based on an elevated cut-off grade of 0.5 g/t Au for Detour Lake and cut-off grade of 0.6 g/t Au for Block A. 4. Mineral resources are exclusive of mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral reserves and resources are compliant with CIM definitions. 5. Totals may not add due to rounding.
  • 30. 30 Detour Lake & Block A US$1,000/oz US$1,200/oz 15.5 Moz @ 1.02 g/t Au P+P 2.0 Moz @ 1.15 g/t Au M+I ~5.5 km Current North Pit Note: Mineral reserves and resources as of December 31, 2013. Refer to February 2014 Technical Report.
  • 31. 31  Paul Martin President and CEO  Pierre Beaudoin COO  James Mavor CFO  Drew Anwyll Sr VP Technical Services  Julie Galloway Sr VP General Counsel & Corporate Secretary  Derek Teevan Sr VP Corporate & Aboriginal Affairs  Jean-Francois Metail VP Mineral Resource Management  Rachel Pineault VP HR & Aboriginal Affairs  Jim Robertson VP Environment & Sustainability  Charles Hennessey Mine General Manager  Andrew Croal Director Technical Services  Laurie Gaborit Director Investor Relations  Alberto Heredia Controller  Bill Snelling Director Corporate Systems & Controls  Rickardo Welyhorsky Director Mineral Processing  Lisa Colnett  Louis Dionne  Robert E. Doyle  André Falzon  Alex G. Morrison  Jonathan Rubenstein  Graham Wozniak  Ingrid Hibbard  Michael Kenyon  Paul Martin Management & Directors Management Directors
  • 32. 32 Laurie Gaborit Director Investor Relations Email: lgaborit@detourgold.com Phone: 416.304.0581 Paul Martin President and Chief Executive Officer Email: pmartin@detourgold.com Phone: 416.304.0800 www.detourgold.com Contact Information