Detour Gold Corporation (TSX:DGC) today announced that it has completed its previously announced public offering of 12,650,000 common shares pursuant to its short form prospectus dated February 3, 2015, raising gross proceeds of C$161,920,000. The underwriters, led by BMO Capital Markets, purchased all of the 1,650,000 Common Shares available for issuance pursuant to the exercise of their over-allotment option, in addition to the 11,000,000 Common Shares that the underwriters initially agreed to purchase. As of today’s date and factoring the Common Shares issued pursuant to the closing of the Offering, Detour Gold has 170,556,671 Common Shares issued and outstanding.

The Company intends to use the net proceeds of the Offering of approximately US$124 million at current exchange rates to repay its outstanding indebtedness under both its senior secured revolving credit facility (US$30 million) and its mobile fleet finance lease with Caterpillar Financial Services Limited (US$94 million).

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

About Detour Gold

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