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1
CANADA’S
INTERMEDIATE
GOLD
PRODUCER
Corporate Presentation
August 6, 2014
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, capital costs, exploration costs; expected throughput, mining
and recovery rates; expected future production and mining activities; opportunities to optimize the mine operation; the updated 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-
101Standards 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.,
Vice President of Operations, 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 “Total cash cost per gold ounce sold (TCC)” and “Adjusted net loss” in this presentation which are non-IFRS measures.
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 and its ability to generate operating earnings and cash flow from its mining
operations. Refer to the MD&A of June 30, 2014 or relevant period for reconciliation of these measures.
Detour Gold reports total cash costs on a sales basis. Total cash costs per gold ounce sold include production costs such as mining, processing,
refining, site administration, costs associated with providing royalty in-kind ounces, and costs for agreements with Aboriginal communities, but are
exclusive of depreciation and depletion, reclamation, non-cash share-based compensation and deferred stripping. Total cash costs are reduced by
silver sales and divided by gold ounces sold to arrive at total cash costs per gold ounce sold. Further details regarding total cash costs per gold
ounce sold and a reconciliation to the nearest IFRS measures are provided in our MD&A accompanying our financial statements filed on
www.sedar.com. Total cash costs plus capex per gold ounce sold includes TCC plus sustaining capital and deferred stripping divided by gold
ounces sold. These 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 this measure differently.
4
Invest in Detour Gold
15.5MILLION
oz of gold
in proven and
probable reserves
600
average annual gold
production over next 10 years
~ THOUSAND
oz / year21
in mining-friendly
Ontario, Canada
+ YEAR
mine life
A premier intermediate Canadian gold producer
and long-term investment opportunity
5
ONTARIO
Toronto
DETOUR LAKE MINE
A Unique Investment Opportunity
 Low-risk, safe mining jurisdiction
 High-quality asset with long mine life
 Production growth opportunities
 Strong cash flow growth following ramp-up
completion
 Leverage to gold price & Canadian dollar
 Strong exploration upside on 100% owned
land package of 630 km2 on Greenstone Belt
Invest in Detour Gold
6
H1 2014 Highlights
22%
Positive developments to date:
 Gold production of 224,520 oz
 Total cash costs of US$956/oz sold1
 Repaid US$40 M of debt
 US$138.2 M in cash and short-term
investments at end of Q2
 High grade gold intersections
reported at Lower Detour
 Received electricity rebate of
US$16 M for half of 2013 and 2014
1. Refer to the section on Non-IFRS Performance Measures on slide 3. Reconciliation of these measures is described in the MD&A
for the second quarter ended June 30, 2014.
7
76
82
107
117
0
20
40
60
80
100
120
140
$1,214
$1,174
$976
$941
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
Ramp-up Progression
Gold Production (‘000 oz)
Q3’132 Q4’13 Q2’14Q1’14
Total Cash Costs (US$/oz sold)1
Q3’132 Q4’13 Q2’14Q1’14
Quarter to quarter improvements:
 Steady production growth since commercial production
 Operations costs per ounce continue to trend lower with ramp-up
progress
1. Refer to the section on Non-IFRS Performance Measures on slide 3. Reconciliation of these measures is described in the MD&A for the
corresponding period.
2. Commercial production declared on September 1, 2013. TCC reported is for the month of September 2013.
8
2014 Guidance Update
2014 Guidance
H1 A Prior Revised
Mill throughput avg (Ktpd) 46.9 52.0 49.0
Mine output (Ktpd) 211 252 230-235
Gold production (oz) 224,520 450,000-500,000 450-000-480,000
TCC (US$/oz sold)1 $956 $800-900 $900-975
Sustaining capital (US$ M) $452 $96 $95-$100
Deferred stripping (US$ M) $15 $35 $30-$35
Debt reduction (US$ M) $40 $80-100 Max. $80
H1 2014 Scorecard:
 Higher end of gold production achieved, mainly driven by higher grades
 Lower mining and milling rates than planned
 Operating cost per ounce trend decreasing at slower rate than projected
1. Refer to the section on Non-IFRS Performance Measures on slide 3. Reconciliation of these measures is described in the MD&A
for the corresponding period.
2. Refer to Slide 15.
9
Q2 2014 Operating Results
0
1
2
3
4
5
Q2'13 Q3'13 Q4'13 Q1'14 Q2'14
1.0
0.8
0.2
0.0
0.4
0.6
TonnesMilled(Mt)
Q2’13 Q3’13 Q4’13 Q2’14
1’14
Q1’14
82 85 92 91 91
Mill Production
HeadGrade(g/tAu)Recovery %
0.91G/T GOLD
head grade4.42 MILLION
tonnes milled 91% GOLD
recovery
Q2’14 Performance:
 Gold production of 117,366 ounces
 4.4 Mt of ore processed: 65% direct
feed and 35% run-of-mine stockpiles
 Head grade of 0.91 g/t, above model
 Recovery rates as expected
 Dilution reduced to <3%, well below
2014 budget of 7%
10
Q2 2014 Operating Results - Mine
Q2’14 Performance:
 2.9 Mt ore mined; strip ratio 5.6
 Total of 19.0 Mt mined
 Avg. mining rates of 209,000 tpd vs
230,000 tpd in plan
Shortfall due to reduced productivity:
› in mining overburden and till
› in removing old infrastructure
around the former Campbell pit
 ROM stockpiles total 1.3 Mt @ 0.76 g/t
at end of Q2, net decrease of 1.5 Mt
from end of Q1
Q2 2014 Mining Rates (Ktpd)
Q1’13 Q2’13 Q3’13 Q1’14Q4’13
18
3
0
50
100
150
200
250
Overburden
Till
Production
Removal
of Old
Infrastructure
Target
Outcome
230
209
11
H2 2014 Focus - Mine
Plans for H2:
 Reduction in overburden and till
removal
› Total of approx. 4.6 Mt (approx.
2.6 Mt completed in July)
 Completion of southwall pushback
in Q3
 Removal of old infrastructure near
Campbell pit
 Continue improving availability of
large shovels
 Annual mining tonnage of 82 Mt
(approx. 44 Mt in H2)
Q1’13 Q2’13 Q3’13 Q1’14Q4’13
12
Q2 2014 Operating Results - Mill
Q2’14 Performance:
 Plant throughput rates averaging
48,569 tpd
 Availability of 83%, at low end of
expectations
 Optimization and efficiencies focused on
› Secondary crushers availability and
utilization
› Dome stockpile management and
mill drive system
› Maintenance improvement plan
 Recovery rates as planned; gravity
recovery at 24%
0
10
20
30
40
50
60
Q2'13 Q3'13 Q4'13 Q1'14 Q2'14
Availability % 1
Q2’13 Q3’13 Q4’13 Q2’14Q1’14
Mill Throughput (ktpd)
8380667868
1. Availability = capital utilization.
13
H2 2014 Focus - Mill
Plans for H2:
 Ramping up from 83 to 89% by year-end
 Q3 Schedule:
› SAG pulp lifter liner change
completed in July
› Further optimization of dome
feeding system
 Q4 Schedule:
› Ball mills liner change
› Pre-leach thickener rake inspection
 Reach 55,000 tpd by year-end
Q3-Q4’14:
Implement next phase of
maintenance improvement plan
14
Q2 Progress:
 Higher mining costs due to:
› Shortfall in total tonnes mined
› Higher equipment maintenance
costs
 Higher milling costs due to:
› Higher maintenance costs and lower
mill throughput
› Partially offset by lower consumables
and reagent consumption
H2 Forecast:
 Downward trend to continue with
throughput and production increase
Q2 2014 Operating Results - Costs
Q1’14 Q2’14
Gold oz sold 84,560 oz 107,206 oz
TCC /oz sold1 US$976/oz US$941/oz
1. Refer to the section on Non-IFRS Financial Performance Measures on slide 3 of this presentation. Reconciliation of these measures is
described in the MD&A for the corresponding period.
Mining (C$/t mined):
Processing (C$/t milled):
G&A (C$/t milled):
$2.87/t$2.60/t $2.87/t
$11.13/t$11.75/t $11.25/t
$3.68/t $3.46/t$4.13/t
Q2’14Q1’14Q4’13
15
2014 Capital Expenditures
Mine
US$33 M
TMA
US$40 M
Deferred
Stripping
US$35 M
2014 CAPITAL:
US$125-135 M
OtherMill
US$18 M US$5 M
(US$ M) Q2’14 H1’14
Tailings facility (TMA) $ 6.2 $ 11.4
Mill 2.4 2.9
Mine 16.0 27.5
Other 2.5 2.7
Sustaining expenditures1 $ 27.1 $ 44.5
Deferred stripping $ 15.1 $ 15.1
1. $19.4 M incurred in 2013 (including 6060 shovel and two 795F haulage trucks received in 2013) and includes
payment of $2.5 M to NAC.
 Initial budget holding
 TMA construction on schedule
16
Near-term Opportunities (2-5 yrs)
Current Status
1. Increase throughput to 61,000 tpd for 2017
Starts in 2014 with installation of 1 cyanide (CN)
detox tank and 1 additional oxygen plant
 CN detox to be
operational in Q3 and
2nd oxygen plant in Q4
2. Block A project
Bring to pre-feasibility study for reserve
definition in Q1 2015
 In progress
3. Low-grade material (not in reserves)
 Heap leach
 Segregation of fines
 Heap leach test
underway
4. Pebble circuit removal
 Pebbles appear to be barren
 Testing continuing
5. Increase exploration activities on 630 km2
prospective property
 Planning in progress
17
Q2 2014 Financial Results
Key Financial Statistics
(US$ M, unless noted)
Q2’14
Revenues $139.0
Production costs $98.1
Depreciation & depletion $38.3
Loss from mine operations $2.6
Cash provided by operations $46.3
Net loss/Adjusted net loss1 $35.0 / $17.4
Net loss & Adjusted net loss per share1 $0.23 / $0.12
Cash & short-term investments $138.2
1. Refer to the section on Non-IFRS Financial Performance Measures on slide 3 of this presentation.
Price protection during ramp-up
 At end of July 2014: 100,000 oz of gold hedged at an average price of
US$1,287/oz for gold sales from August to December 2014
18
Solid Balance Sheet / Ramp-up Completion
 Targeting minimum of US$100 M cash at year-end
 Reducing debt by up to a further US$40 M
 Complete Detour Lake mine ramp-up by year-end
› Attain mill design capacity (55,000 tpd)
› Achieve mining rates of + 250,000 tpd
2014 Year-End Objectives
19
ADDITIONAL
information
 Analyst Coverage
 Shareholder Information
 Near-term Opportunities
 Exploration Focus:
Lower Detour
 Corporate Responsibility
 LOM Summary
 LOM Gold Production Profile
 LOM Operating Costs &
Sustaining Capital
 Debt Repayment Schedule
 Management & Directors
 Contact Information
20
Initiating
Research
Firm Analyst Target at
August 6, 2014
07.06.11 Haywood Kerry Smith $15.50
07.07.09 Paradigm Don Blyth/Don MacLean $14.50
07.08.07 Raymond James Phil Russo $18.00
07.11.26 National Bank Steve Parsons $15.00
07.12.20 Macquarie Mike Siperco $18.00
08.01.14 Canaccord Rahul Paul $15.00
08.07.14 TD Dan Earle $18.50
08.09.04 RBC Dan Rollins $17.00
08.11.06 BMO NB Brian Quast $17.25
09.06.17 Laurentian Eric Lemieux Under review
10.05.19 CIBC World Markets Cosmos Chiu $18.00
10.07.22 Credit Suisse Anita Soni $14.50
13.04.16 Scotiabank Trevor Turnbull $18.00
13.08.14 Desjardins Michael Parkin $16.00
13.11.12 Beacon Securities Michael Curran $15.25
13.12.09 GMP Securities Ian Parkinson $13.50
14.02.06 Cormark Securities Richard Gray $18.50
14.04.22 Goldman Sachs Andrew Quail $11.50
14.06.17 Dundee Capital Markets Joseph Fazzini $14.50
Average target $16.03
Analyst Coverage (19)
21
Shareholder Information
Paulson & Co.
>80% INSTITUTIONS TOTAL11.0 M Share options
13.0 M Convertible notes 1
181.8 M FULLY DILUTED
157.8 M Issued & outstanding
Share Structure (03/31/2014) Top Shareholders
1. Conversion price for the Notes is US$38.50.
2. Cash and short-term investments at June 30, 2014.
16%
C$2.0 BILLION
market capUS$138.2 MILLION
cash position2
Share Structure (June 30, 2014) Top Shareholders
22
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
Reserve estimate in Q1 2015
 In-pit dumping and tailing deposition
 Best comingling options with Detour Lake
Near-term Opportunities: Block A
23
Near-term Opportunities
Low-grade Material
Currently stockpiling 0.4-0.5 g/t
mineralized material:
 Extra 1.5 M oz not accounted
for in LOM plan
 Potential to process at end
of LOM
 Evaluate potential for heap leach
and gold concentration by natural
segregation of fines
› Testing has started
Pebbles
Remove pebble circuit?
 Pebbles appear to be barren
 Reject pebbles and replace with
new feed?
 Producing 700-800 tpoh of
pebbles. Replace with 40-60%
of new feed? OR
pebbles
24
Exploration Focus: Lower Detour
Priority Target: Lower Detour area
 Lower Detour area approx. 6-7 km south of mill
› Structural complexity: number of shear zones sub-parallel and
splaying from LDDZ
› Several gold mineralization styles encountered
 2014 exploration program results:
› Mineralization extends for 450 metres
› High-grade gold intercepts in altered feldspar porphyry
intrusive containing quartz and/or quartz/tourmaline veins
› Results suggest that grade and continuity may improve at
depth
25
Lower Detour
Area
15.5 M oz in Reserves
630 km2
Exploration Focus: Lower Detour
26
Lower Detour Area: 14,874 m of drilling completed in 2014
A B C
A’ B’ C’
Exploration Focus: Lower Detour
27
Focus on health and safety of our employees, the well-being of
our community and the protection of the natural environment
 Hiring in the region, giving priority to local Aboriginal communities:
 692 full-time employees*
 91% of workforce from region
 24% are Aboriginals
 Scholarship and job training
 Supporting local communities
 Business opportunities
 Participation in municipal development
 Corporate philanthropy
Northern
Ontario
40%
Cochrane
21%
Cochrane
Area
30%
Rest of
Ontario
5%
4%
Other
Corporate Responsibility
WORKFORCE ORIGIN
* At June 30, 2014. Excludes corporate office at 32 full-time employees.
28
LOM Plan1 02/2014
Update
Proven & Probable Reserves (M oz)2 15.5
Gold grade (g/t) 1.02
Strip ratio (waste:ore) 3.5
Estimated gold recovery (%) 92
Mine life (years) 21.7
Annual gold production (oz) 660,000
Total cash costs (TCC) (C$/oz sold)3 $723
Sustaining capital (C$ billion) $1.14
TCC3+ capex (C$/oz sold) $848
LOM Summary
Main objective: Optimize first 5 years
1. As per NI 43-101 compliant Technical Report dated February 4, 2014.
2. Estimated using a gold price of US$1,000/oz. Includes stockpiles as of December 31, 2013.
3. Refer to the section on Non-IFRS Performance Measures on slide 3. Capex = sustaining capital expenditures + deferred stripping.
29
TCC1
(C$/oz sold)
800
700
600
500
400
300
200
100
0
Gold Production
(‘000 oz)
LOM Gold Production/Cost Profile
900
850
800
750
700
650
600
550
500
598,000 oz
C$759/oz
0.96 g/t
596,000 oz
C$762/oz
0.91 g/t
659,000 oz
C$778/oz
1.00 g/t
765,000 oz
C$639/oz
1.16 g/t
1. Refer to the section on Non-IFRS Financial Performance Measures on
slide 3 of this presentation.
600,000 oz/yr for first 10 yrs
30
LOM Operating Costs1 C$/t milled C$/t mined C$/oz sold 2
Mining costs 11.55 2.56 392
Processing costs 7.82 266
G&A 2.44 83
Total cash operating costs 21.81 741
Other adjustments 3 (18)
Total cash costs 723
30
LOM Operating Costs & Capex
1. As per NI 43-101 compliant Technical Report dated February 4, 2014.
2. Refer to the section on Non-IFRS Financial Performance Measures on slide 3 of this presentation.
3. Other adjustments include costs for deferred stripping, agreements with Aboriginal communities, refining charges and
are net of silver by-product credits.
Capex1 (C$ M) 5 yrs: 2014 -2018 LOM
Mining 168 535
Process Plant 71 126
TMA 203 454
G&A 14 28
Total 456 1,143
Deferred Stripping 225 614
Mine Closure 70
Higher capital in first
5 years:
 Ramp-up to 38 trucks
 Complete plant de-
bottlenecking exercise
 Prepare TMA foundation
for 2nd and 3rd cell
31
Debt Repayment Schedule
At June 30, 2014
Revolving Credit
Facility (1) CAT Finance Lease Convertible Notes
Face Value US$30 M (1) US$150 M US$500 M
Maturity March 2016 Jan 2017-Dec 2018(2) November 30, 2017
Interest Rate LIBOR + 3% LIBOR + 4% 5.5%
Payable Monthly Quarterly Semi-annually
Conversion Price n/a n/a $38.50
Payment schedule Principal Principal + Interest Principal Interest
Total
(US$ M)
2014 - $9.9 - $27.5 $37.4
2015 - $34.6 - $27.5 $62.1
2016 $30 $32.7 - $27.5 $90.2
2017 - $35.8 $500 $27.5 $563.3
Thereafter - $7.2 - - $7.2
Total $30 $120.2 $500 $110.0 $760.2
1. The Revolving Credit Facility provides for borrowings of up to C$90 M and is subject to a completion test prior to September 30, 2014.
The Company intends to repay the Revolving Credit Facility within the next 12 months.
2. Includes multiple leases with maturities of 5 yrs from lease date.
32
 Michael Kenyon
Executive Chairman
 Paul Martin
President and CEO
 Pierre Beaudoin
COO
 James Mavor
CFO
 Julie Galloway
Sr VP General Counsel &
Corporate Secretary
 Derek Teevan
Sr VP Corporate &
Aboriginal Affairs
 Drew Anwyll
VP Operations
 Pat Donovan
VP Corporate Development
 Jean-Francois Metail
VP Reserves and Resources
 Rachel Pineault
VP HR & Aboriginal Affairs
 James Robertson
VP Environment &
Sustainability
 Charles Hennessey
General Manager Operations
 Andrew Croal
Director Technical Services
 Laurie Gaborit
Director Investor Relations
 Alberto Heredia
Controller
 Bill Snelling
Director Corporate Systems & Controls
 Rickardo Welyhorsky
Director Mineral Processing
 Peter Crossgrove
 Lisa Colnett
 Louis Dionne
 Robert E. Doyle
 Alex G. Morrison
 Jonathan Rubenstein
 Graham Wozniak
 André Falzon
 Ingrid Hibbard
 Michael Kenyon
 Paul Martin
Management & Directors
Management
Directors
33
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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Dgc 14 08_06 - 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, capital costs, exploration costs; expected throughput, mining and recovery rates; expected future production and mining activities; opportunities to optimize the mine operation; the updated 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- 101Standards 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., Vice President of Operations, 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 “Total cash cost per gold ounce sold (TCC)” and “Adjusted net loss” in this presentation which are non-IFRS measures. 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 and its ability to generate operating earnings and cash flow from its mining operations. Refer to the MD&A of June 30, 2014 or relevant period for reconciliation of these measures. Detour Gold reports total cash costs on a sales basis. Total cash costs per gold ounce sold include production costs such as mining, processing, refining, site administration, costs associated with providing royalty in-kind ounces, and costs for agreements with Aboriginal communities, but are exclusive of depreciation and depletion, reclamation, non-cash share-based compensation and deferred stripping. Total cash costs are reduced by silver sales and divided by gold ounces sold to arrive at total cash costs per gold ounce sold. Further details regarding total cash costs per gold ounce sold and a reconciliation to the nearest IFRS measures are provided in our MD&A accompanying our financial statements filed on www.sedar.com. Total cash costs plus capex per gold ounce sold includes TCC plus sustaining capital and deferred stripping divided by gold ounces sold. These 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 this measure differently.
  • 4. 4 Invest in Detour Gold 15.5MILLION oz of gold in proven and probable reserves 600 average annual gold production over next 10 years ~ THOUSAND oz / year21 in mining-friendly Ontario, Canada + YEAR mine life A premier intermediate Canadian gold producer and long-term investment opportunity
  • 5. 5 ONTARIO Toronto DETOUR LAKE MINE A Unique Investment Opportunity  Low-risk, safe mining jurisdiction  High-quality asset with long mine life  Production growth opportunities  Strong cash flow growth following ramp-up completion  Leverage to gold price & Canadian dollar  Strong exploration upside on 100% owned land package of 630 km2 on Greenstone Belt Invest in Detour Gold
  • 6. 6 H1 2014 Highlights 22% Positive developments to date:  Gold production of 224,520 oz  Total cash costs of US$956/oz sold1  Repaid US$40 M of debt  US$138.2 M in cash and short-term investments at end of Q2  High grade gold intersections reported at Lower Detour  Received electricity rebate of US$16 M for half of 2013 and 2014 1. Refer to the section on Non-IFRS Performance Measures on slide 3. Reconciliation of these measures is described in the MD&A for the second quarter ended June 30, 2014.
  • 7. 7 76 82 107 117 0 20 40 60 80 100 120 140 $1,214 $1,174 $976 $941 $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 Ramp-up Progression Gold Production (‘000 oz) Q3’132 Q4’13 Q2’14Q1’14 Total Cash Costs (US$/oz sold)1 Q3’132 Q4’13 Q2’14Q1’14 Quarter to quarter improvements:  Steady production growth since commercial production  Operations costs per ounce continue to trend lower with ramp-up progress 1. Refer to the section on Non-IFRS Performance Measures on slide 3. Reconciliation of these measures is described in the MD&A for the corresponding period. 2. Commercial production declared on September 1, 2013. TCC reported is for the month of September 2013.
  • 8. 8 2014 Guidance Update 2014 Guidance H1 A Prior Revised Mill throughput avg (Ktpd) 46.9 52.0 49.0 Mine output (Ktpd) 211 252 230-235 Gold production (oz) 224,520 450,000-500,000 450-000-480,000 TCC (US$/oz sold)1 $956 $800-900 $900-975 Sustaining capital (US$ M) $452 $96 $95-$100 Deferred stripping (US$ M) $15 $35 $30-$35 Debt reduction (US$ M) $40 $80-100 Max. $80 H1 2014 Scorecard:  Higher end of gold production achieved, mainly driven by higher grades  Lower mining and milling rates than planned  Operating cost per ounce trend decreasing at slower rate than projected 1. Refer to the section on Non-IFRS Performance Measures on slide 3. Reconciliation of these measures is described in the MD&A for the corresponding period. 2. Refer to Slide 15.
  • 9. 9 Q2 2014 Operating Results 0 1 2 3 4 5 Q2'13 Q3'13 Q4'13 Q1'14 Q2'14 1.0 0.8 0.2 0.0 0.4 0.6 TonnesMilled(Mt) Q2’13 Q3’13 Q4’13 Q2’14 1’14 Q1’14 82 85 92 91 91 Mill Production HeadGrade(g/tAu)Recovery % 0.91G/T GOLD head grade4.42 MILLION tonnes milled 91% GOLD recovery Q2’14 Performance:  Gold production of 117,366 ounces  4.4 Mt of ore processed: 65% direct feed and 35% run-of-mine stockpiles  Head grade of 0.91 g/t, above model  Recovery rates as expected  Dilution reduced to <3%, well below 2014 budget of 7%
  • 10. 10 Q2 2014 Operating Results - Mine Q2’14 Performance:  2.9 Mt ore mined; strip ratio 5.6  Total of 19.0 Mt mined  Avg. mining rates of 209,000 tpd vs 230,000 tpd in plan Shortfall due to reduced productivity: › in mining overburden and till › in removing old infrastructure around the former Campbell pit  ROM stockpiles total 1.3 Mt @ 0.76 g/t at end of Q2, net decrease of 1.5 Mt from end of Q1 Q2 2014 Mining Rates (Ktpd) Q1’13 Q2’13 Q3’13 Q1’14Q4’13 18 3 0 50 100 150 200 250 Overburden Till Production Removal of Old Infrastructure Target Outcome 230 209
  • 11. 11 H2 2014 Focus - Mine Plans for H2:  Reduction in overburden and till removal › Total of approx. 4.6 Mt (approx. 2.6 Mt completed in July)  Completion of southwall pushback in Q3  Removal of old infrastructure near Campbell pit  Continue improving availability of large shovels  Annual mining tonnage of 82 Mt (approx. 44 Mt in H2) Q1’13 Q2’13 Q3’13 Q1’14Q4’13
  • 12. 12 Q2 2014 Operating Results - Mill Q2’14 Performance:  Plant throughput rates averaging 48,569 tpd  Availability of 83%, at low end of expectations  Optimization and efficiencies focused on › Secondary crushers availability and utilization › Dome stockpile management and mill drive system › Maintenance improvement plan  Recovery rates as planned; gravity recovery at 24% 0 10 20 30 40 50 60 Q2'13 Q3'13 Q4'13 Q1'14 Q2'14 Availability % 1 Q2’13 Q3’13 Q4’13 Q2’14Q1’14 Mill Throughput (ktpd) 8380667868 1. Availability = capital utilization.
  • 13. 13 H2 2014 Focus - Mill Plans for H2:  Ramping up from 83 to 89% by year-end  Q3 Schedule: › SAG pulp lifter liner change completed in July › Further optimization of dome feeding system  Q4 Schedule: › Ball mills liner change › Pre-leach thickener rake inspection  Reach 55,000 tpd by year-end Q3-Q4’14: Implement next phase of maintenance improvement plan
  • 14. 14 Q2 Progress:  Higher mining costs due to: › Shortfall in total tonnes mined › Higher equipment maintenance costs  Higher milling costs due to: › Higher maintenance costs and lower mill throughput › Partially offset by lower consumables and reagent consumption H2 Forecast:  Downward trend to continue with throughput and production increase Q2 2014 Operating Results - Costs Q1’14 Q2’14 Gold oz sold 84,560 oz 107,206 oz TCC /oz sold1 US$976/oz US$941/oz 1. Refer to the section on Non-IFRS Financial Performance Measures on slide 3 of this presentation. Reconciliation of these measures is described in the MD&A for the corresponding period. Mining (C$/t mined): Processing (C$/t milled): G&A (C$/t milled): $2.87/t$2.60/t $2.87/t $11.13/t$11.75/t $11.25/t $3.68/t $3.46/t$4.13/t Q2’14Q1’14Q4’13
  • 15. 15 2014 Capital Expenditures Mine US$33 M TMA US$40 M Deferred Stripping US$35 M 2014 CAPITAL: US$125-135 M OtherMill US$18 M US$5 M (US$ M) Q2’14 H1’14 Tailings facility (TMA) $ 6.2 $ 11.4 Mill 2.4 2.9 Mine 16.0 27.5 Other 2.5 2.7 Sustaining expenditures1 $ 27.1 $ 44.5 Deferred stripping $ 15.1 $ 15.1 1. $19.4 M incurred in 2013 (including 6060 shovel and two 795F haulage trucks received in 2013) and includes payment of $2.5 M to NAC.  Initial budget holding  TMA construction on schedule
  • 16. 16 Near-term Opportunities (2-5 yrs) Current Status 1. Increase throughput to 61,000 tpd for 2017 Starts in 2014 with installation of 1 cyanide (CN) detox tank and 1 additional oxygen plant  CN detox to be operational in Q3 and 2nd oxygen plant in Q4 2. Block A project Bring to pre-feasibility study for reserve definition in Q1 2015  In progress 3. Low-grade material (not in reserves)  Heap leach  Segregation of fines  Heap leach test underway 4. Pebble circuit removal  Pebbles appear to be barren  Testing continuing 5. Increase exploration activities on 630 km2 prospective property  Planning in progress
  • 17. 17 Q2 2014 Financial Results Key Financial Statistics (US$ M, unless noted) Q2’14 Revenues $139.0 Production costs $98.1 Depreciation & depletion $38.3 Loss from mine operations $2.6 Cash provided by operations $46.3 Net loss/Adjusted net loss1 $35.0 / $17.4 Net loss & Adjusted net loss per share1 $0.23 / $0.12 Cash & short-term investments $138.2 1. Refer to the section on Non-IFRS Financial Performance Measures on slide 3 of this presentation. Price protection during ramp-up  At end of July 2014: 100,000 oz of gold hedged at an average price of US$1,287/oz for gold sales from August to December 2014
  • 18. 18 Solid Balance Sheet / Ramp-up Completion  Targeting minimum of US$100 M cash at year-end  Reducing debt by up to a further US$40 M  Complete Detour Lake mine ramp-up by year-end › Attain mill design capacity (55,000 tpd) › Achieve mining rates of + 250,000 tpd 2014 Year-End Objectives
  • 19. 19 ADDITIONAL information  Analyst Coverage  Shareholder Information  Near-term Opportunities  Exploration Focus: Lower Detour  Corporate Responsibility  LOM Summary  LOM Gold Production Profile  LOM Operating Costs & Sustaining Capital  Debt Repayment Schedule  Management & Directors  Contact Information
  • 20. 20 Initiating Research Firm Analyst Target at August 6, 2014 07.06.11 Haywood Kerry Smith $15.50 07.07.09 Paradigm Don Blyth/Don MacLean $14.50 07.08.07 Raymond James Phil Russo $18.00 07.11.26 National Bank Steve Parsons $15.00 07.12.20 Macquarie Mike Siperco $18.00 08.01.14 Canaccord Rahul Paul $15.00 08.07.14 TD Dan Earle $18.50 08.09.04 RBC Dan Rollins $17.00 08.11.06 BMO NB Brian Quast $17.25 09.06.17 Laurentian Eric Lemieux Under review 10.05.19 CIBC World Markets Cosmos Chiu $18.00 10.07.22 Credit Suisse Anita Soni $14.50 13.04.16 Scotiabank Trevor Turnbull $18.00 13.08.14 Desjardins Michael Parkin $16.00 13.11.12 Beacon Securities Michael Curran $15.25 13.12.09 GMP Securities Ian Parkinson $13.50 14.02.06 Cormark Securities Richard Gray $18.50 14.04.22 Goldman Sachs Andrew Quail $11.50 14.06.17 Dundee Capital Markets Joseph Fazzini $14.50 Average target $16.03 Analyst Coverage (19)
  • 21. 21 Shareholder Information Paulson & Co. >80% INSTITUTIONS TOTAL11.0 M Share options 13.0 M Convertible notes 1 181.8 M FULLY DILUTED 157.8 M Issued & outstanding Share Structure (03/31/2014) Top Shareholders 1. Conversion price for the Notes is US$38.50. 2. Cash and short-term investments at June 30, 2014. 16% C$2.0 BILLION market capUS$138.2 MILLION cash position2 Share Structure (June 30, 2014) Top Shareholders
  • 22. 22 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 Reserve estimate in Q1 2015  In-pit dumping and tailing deposition  Best comingling options with Detour Lake Near-term Opportunities: Block A
  • 23. 23 Near-term Opportunities Low-grade Material Currently stockpiling 0.4-0.5 g/t mineralized material:  Extra 1.5 M oz not accounted for in LOM plan  Potential to process at end of LOM  Evaluate potential for heap leach and gold concentration by natural segregation of fines › Testing has started Pebbles Remove pebble circuit?  Pebbles appear to be barren  Reject pebbles and replace with new feed?  Producing 700-800 tpoh of pebbles. Replace with 40-60% of new feed? OR pebbles
  • 24. 24 Exploration Focus: Lower Detour Priority Target: Lower Detour area  Lower Detour area approx. 6-7 km south of mill › Structural complexity: number of shear zones sub-parallel and splaying from LDDZ › Several gold mineralization styles encountered  2014 exploration program results: › Mineralization extends for 450 metres › High-grade gold intercepts in altered feldspar porphyry intrusive containing quartz and/or quartz/tourmaline veins › Results suggest that grade and continuity may improve at depth
  • 25. 25 Lower Detour Area 15.5 M oz in Reserves 630 km2 Exploration Focus: Lower Detour
  • 26. 26 Lower Detour Area: 14,874 m of drilling completed in 2014 A B C A’ B’ C’ Exploration Focus: Lower Detour
  • 27. 27 Focus on health and safety of our employees, the well-being of our community and the protection of the natural environment  Hiring in the region, giving priority to local Aboriginal communities:  692 full-time employees*  91% of workforce from region  24% are Aboriginals  Scholarship and job training  Supporting local communities  Business opportunities  Participation in municipal development  Corporate philanthropy Northern Ontario 40% Cochrane 21% Cochrane Area 30% Rest of Ontario 5% 4% Other Corporate Responsibility WORKFORCE ORIGIN * At June 30, 2014. Excludes corporate office at 32 full-time employees.
  • 28. 28 LOM Plan1 02/2014 Update Proven & Probable Reserves (M oz)2 15.5 Gold grade (g/t) 1.02 Strip ratio (waste:ore) 3.5 Estimated gold recovery (%) 92 Mine life (years) 21.7 Annual gold production (oz) 660,000 Total cash costs (TCC) (C$/oz sold)3 $723 Sustaining capital (C$ billion) $1.14 TCC3+ capex (C$/oz sold) $848 LOM Summary Main objective: Optimize first 5 years 1. As per NI 43-101 compliant Technical Report dated February 4, 2014. 2. Estimated using a gold price of US$1,000/oz. Includes stockpiles as of December 31, 2013. 3. Refer to the section on Non-IFRS Performance Measures on slide 3. Capex = sustaining capital expenditures + deferred stripping.
  • 29. 29 TCC1 (C$/oz sold) 800 700 600 500 400 300 200 100 0 Gold Production (‘000 oz) LOM Gold Production/Cost Profile 900 850 800 750 700 650 600 550 500 598,000 oz C$759/oz 0.96 g/t 596,000 oz C$762/oz 0.91 g/t 659,000 oz C$778/oz 1.00 g/t 765,000 oz C$639/oz 1.16 g/t 1. Refer to the section on Non-IFRS Financial Performance Measures on slide 3 of this presentation. 600,000 oz/yr for first 10 yrs
  • 30. 30 LOM Operating Costs1 C$/t milled C$/t mined C$/oz sold 2 Mining costs 11.55 2.56 392 Processing costs 7.82 266 G&A 2.44 83 Total cash operating costs 21.81 741 Other adjustments 3 (18) Total cash costs 723 30 LOM Operating Costs & Capex 1. As per NI 43-101 compliant Technical Report dated February 4, 2014. 2. Refer to the section on Non-IFRS Financial Performance Measures on slide 3 of this presentation. 3. Other adjustments include costs for deferred stripping, agreements with Aboriginal communities, refining charges and are net of silver by-product credits. Capex1 (C$ M) 5 yrs: 2014 -2018 LOM Mining 168 535 Process Plant 71 126 TMA 203 454 G&A 14 28 Total 456 1,143 Deferred Stripping 225 614 Mine Closure 70 Higher capital in first 5 years:  Ramp-up to 38 trucks  Complete plant de- bottlenecking exercise  Prepare TMA foundation for 2nd and 3rd cell
  • 31. 31 Debt Repayment Schedule At June 30, 2014 Revolving Credit Facility (1) CAT Finance Lease Convertible Notes Face Value US$30 M (1) US$150 M US$500 M Maturity March 2016 Jan 2017-Dec 2018(2) November 30, 2017 Interest Rate LIBOR + 3% LIBOR + 4% 5.5% Payable Monthly Quarterly Semi-annually Conversion Price n/a n/a $38.50 Payment schedule Principal Principal + Interest Principal Interest Total (US$ M) 2014 - $9.9 - $27.5 $37.4 2015 - $34.6 - $27.5 $62.1 2016 $30 $32.7 - $27.5 $90.2 2017 - $35.8 $500 $27.5 $563.3 Thereafter - $7.2 - - $7.2 Total $30 $120.2 $500 $110.0 $760.2 1. The Revolving Credit Facility provides for borrowings of up to C$90 M and is subject to a completion test prior to September 30, 2014. The Company intends to repay the Revolving Credit Facility within the next 12 months. 2. Includes multiple leases with maturities of 5 yrs from lease date.
  • 32. 32  Michael Kenyon Executive Chairman  Paul Martin President and CEO  Pierre Beaudoin COO  James Mavor CFO  Julie Galloway Sr VP General Counsel & Corporate Secretary  Derek Teevan Sr VP Corporate & Aboriginal Affairs  Drew Anwyll VP Operations  Pat Donovan VP Corporate Development  Jean-Francois Metail VP Reserves and Resources  Rachel Pineault VP HR & Aboriginal Affairs  James Robertson VP Environment & Sustainability  Charles Hennessey General Manager Operations  Andrew Croal Director Technical Services  Laurie Gaborit Director Investor Relations  Alberto Heredia Controller  Bill Snelling Director Corporate Systems & Controls  Rickardo Welyhorsky Director Mineral Processing  Peter Crossgrove  Lisa Colnett  Louis Dionne  Robert E. Doyle  Alex G. Morrison  Jonathan Rubenstein  Graham Wozniak  André Falzon  Ingrid Hibbard  Michael Kenyon  Paul Martin Management & Directors Management Directors
  • 33. 33 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