NEWS RELEASE
DETOUR GOLD
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TORONTO - Detour Gold Corporation is pleased to report that it has re-purchased $75 million of convertible notes (the "Notes") for an aggregate purchase price (including principal and premium) of $76.9 million, plus accrued and unpaid interest of $1.7 million to April 27, 2016.
The Notes were re-purchased from Paulson & Co. Inc. using existing cash balances. All amounts are in U.S. dollars.
In December 2010, Detour sold $500 million of Notes on a private placement basis to finance the development of its wholly-owned Detour Lake gold mine in northeastern Ontario.
The remaining Notes mature on November 30, 2017.
"As the Company's financial position continues to strengthen, we have taken this opportunity to further reduce debt levels. With increased confidence in our mining operation and a stronger gold price environment, we would now expect to re-finance less than $300 million of Notes at maturity," said James Mavor, Chief Financial Officer."
About Detour Gold
Detour Gold is an intermediate gold producer in Canada that holds a 100 percent interest in the Detour Lake mine, a long life large-scale open pit operation. Detour Gold's shares trade on the Toronto Stock Exchange under the trading symbol DGC.
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