Detour Gold Reports Solid Second Quarter 2015 Results and Sets Production Record

Detour Gold Corporation today released its operational and financial results for the second quarter of 2015 and the news is good - with a reported record gold production of 125,348 ounces of gold achieved through a relatively low cash cost of $734 dollars per ounce.

The gold produced by Detour Gold sold at an average price of $1,215 per oz.

This release should be read in conjunction with the Company's second quarter 2015 financial statements and MD&A on the Company's website or on SEDAR. All amounts are in U.S. dollars unless otherwise indicated.

                                                                                                                         Detour Lake Gold open pit mine - photo courtesy Detour Gold

"We are pleased to report a record quarter  - operationally, the mine and mill exceeded our expectations as reflected by the significantly higher production and lower costs reported this quarter," said Paul Martin, President and CEO. "We expect to continue on this trend and finish the year on a strong note with higher gold production and lower costs in the second half of the year aided by a weaker Canadian dollar."

Q2 2015 Highlights

• Record gold production of 125,348 ounces
• Mill throughput rates averaged 57,015 tpd
• Mining rates averaged 280,000 tpd
• Total cash costs of $734 per ounce sold and all-in sustaining costs of $1,030 per ounce sold
• Revenues of $147.5 million on gold sales of 123,296 ounces at an average realized price of $1,215 per ounce
• Amendment of Cdn$135 million Credit Facility
• Net loss of $15.4 million ($0.09 per share) and adjusted net earnings of $0.5 million ($nil per share)
• Cash and short-term investments balance of $133.2 million at June 30, 2015
• Drilling program of 30,000 metres at Lower Detour started at end of June 

Q2 2015 Summary Operational Results

• Gold production totaled 125,348 ounces, approximately 9% above the mid-point of the guidance range for the second quarter of 2015.
• For the quarter, the mill facility processed a record 5.2 million tonnes (Mt) of ore or an average of 57,015 tonnes per day (tpd) at recoveries of 91%. Processed grade was 0.82 grams per tonne (g/t), slightly higher than projections for the quarter.
• Mill operating time at 88% was in line with projections with a four day planned shutdown in June to replace SAG and ball mill liners on both lines, complete further improvements on the 410 conveyor system, and conduct a number of annual inspections which included the thickeners.
• Milling rates attained 2,712 tonnes per operating hour (tpoh) for the second quarter, exceeding the budget rate of 2,600 tpoh and the design rate of 2,500 tpoh. The processing plant has now been operating at design capacity of 55,000 tpd since March 2015.
• A total of 25.5 Mt (ore and waste) was mined in the second quarter (equivalent to mining rates of 280,000 tpd for Phase 1 and 2), approximately 18% higher than the annual budgeted rate of 238,000 tpd and above the fourth quarter target of 268,000 tpd.
• Phase 2 pre-stripping totalled 1.4 Mt for the quarter.
• At the end of the quarter, run-of-mine stockpiles had been successfully re-built to 1.7 Mt grading 0.71 g/t, providing operational flexibility for the second half of 2015.
• Total cash costs for the second quarter of 2015 were $734 per ounce sold⁽¹⁾ and all-in sustaining costs were $1,030 per ounce sold⁽¹⁾, lower than plan due to higher production and a favorable exchange rate.
• Lower unit costs were achieved in the second quarter, mainly due to more tonnes mined and milled. In addition, plant operating costs benefited from consumables (i.e. grinding media, cyanide, and SO₂) declining to their lowest levels since production commenced.

The Company will host a conference call on Thursday, July 30, 2015 at 10:00 AM E.T. where senior management will discuss the second quarter operational and financial results. Access the conference call as follows:

• Via webcast, go to www.detourgold.com and click on the "Q2 2015 Results Conference Call and Webcast" link on home page
• By phone toll free in Canada and the United States 1-800-319-4610
• By phone internationally 416-915-3239

The conference call will be recorded and playback of the call will be available after the event by dialing toll free in Canada and the United States1-800-319-6413, or internationally 604-638-9010, pass code 1532 (available up to August 31, 2015).

About Detour Gold

Detour Gold is an intermediate gold producer in Canada that holds a 100% interest in the Detour Lake mine, a long life large-scale open pit operation.

For more information please visit www.detourgold.com