|By Marketwire .||
|March 8, 2013 06:57 PM EST||
TORONTO, ONTARIO -- (Marketwire) -- 03/08/13 -- Detour Gold Corporation (TSX:DGC) ("Detour Gold" or the "Company") is pleased to announce that Pierre Beaudoin has been promoted to Chief Operating Officer of Detour Gold. The announcement was made by Gerald Panneton, President and Chief Executive Officer, Detour Gold.
Gerald Panneton said, "We are very pleased to appoint Pierre as Chief Operating Officer as he is an integral part of the company and has been critical in the successful design and building of our Detour Lake Mine inside our 27 months guidance. Pierre's experience brings the necessary operational expertise, vision and business acumen to the position."
Pierre Beaudoin said, "I am really looking forward to the opportunities and challenges that come with this new role. This is an exciting time for Detour Gold. We've built a fantastic mine and a key focus for me will be to ensure that we continue to focus on achieving our ramp-up and operating goals in a way that will maximize the return to our shareholders."
Beaudoin is a mineral processing professional with over 28 years of international operating and project development experience and joined Detour Gold in early 2010 as its Senior Vice President, Capital Projects.
About Detour Gold
Detour Gold is an emerging mid-tier gold producer in Canada. The Detour Lake open pit mine is expected to produce an average of 657,000 ounces of gold annually over a period of 21.5 years. Detour Gold's shares trade on the Toronto Stock Exchange under the trading symbol DGC.
This press release contains certain forward-looking information as defined in applicable securities laws (referred to herein as "forward-looking statements"). Specifically, this press release contains forward-looking statements regarding the pour of the first gold bar in mid-February 2013, start-up of the second production line in March 2013, the mining rate reaching 150,000 tpd in early 2013, gold production ranging between 350,000 and 400,000 ounces of gold in 2013, total cash costs of between $800/oz and $900/oz once commercial production is declared and annual production of 657,000 ounces of gold over a period of 21.5 years. Forward-looking statements involve known and unknown risks, uncertainties and other factors which are beyond Detour Gold's ability to predict or control and may cause Detour Gold's actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, gold price volatility, changes in debt and equity markets, the uncertainties involved in interpreting geological data, increases in costs, environmental compliance and changes in environmental legislation and regulation, interest rate and exchange rate fluctuations, general economic conditions and other risks involved in the gold exploration and development industry, as well as those risk factors discussed in the section entitled "Description of the Business - Risk Factors" in Detour Gold's 2011 annual information form 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 supply and demand for gold, and the level and volatility of the price of gold; the availability of financing for exploration and development activities; the estimated timeline for the development of the Detour Lake gold project; the expected mine life; anticipated gold production; gold recovery; the development schedule; cash operating costs and other costs; the financial analysis for the project; capital costs; sensitivity to metal prices and other sensitivities; the accuracy of reserve and resource estimates and the assumptions on which the reserve and resource estimates are based; the receipt of necessary permits; 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. Detour Gold undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.
Detour Gold Corporation
President and CEO
Detour Gold Corporation
Director Investor Relations
Detour Gold Corporation
Royal Bank Plaza, South Tower
200 Bay Street, Suite 2200,
Toronto, Ontario M5J 2J1