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CANADA’S NEXT
INTERMEDIATE
GOLD PRODUCER




    Cambridge House International
    Vancouver Resource Investment Conference
    January 20-21, 2013
1
Forward Looking Information
    This presentation contains certain forward-looking information as defined in applicable securities laws (referred to herein as
    “forward-looking statements”). Specifically, this presentation contains forward-looking statements regarding the reserve and
    resource estimates, ore grade, expected mine life, anticipated gold production, gold recovery, cash operating costs and other
    costs, capital costs, sensitivity to metal prices and other sensitivities, financial analysis of the project, commencement of
    operations, potential expansion opportunities, and plans for organic growth. 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 Business - Risk Factors” in Detour Gold’s
    2011 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 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.




2
NI-43 101 Disclosure
    Information Containing Estimates of Mineral Reserves and Resources
    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 September 4, 2012, Detour Gold announced an updated mine production plan for the Detour Lake project. The NI 43-101
    compliant Technical Report for this update was filed on SEDAR on October 18, 2012. The following QPs participated in this
    update: BBA Inc., under the direction of André Allaire, Eng., Vice-President, Markets – Mining and Metals and Patrice Live,
    Eng., Mining Manager; SGS Canada Inc., under the direction of Michel Dagbert, Eng., Senior Geostatistician 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.




3
Invest in Detour Gold
    Our Vision




     Focus on a world-class asset – Detour Lake
        Canada’s largest pure gold play with 15.6 M oz in reserves
        Gold processing initiated in January 2013
     One of the best cash flow/share opportunities
     Average annual gold production of 657,000 oz
     Excellent organic growth potential (5 year plan)
     Potential expansion of mill throughput




4
Share Capital
                                                           OPTIONS & FN SHARE
                                                             COMMITMENTS
     ISSUED AND                                                       8.9 M
    OUTSTANDING
                                FULLY DILUTED                     CONVERTIBLE
      117.6M                        139.5 M                         NOTES
                                                                      13.0 M



     Market cap: C$2.8 billion
     Cash position: C$236 million
     Major shareholders:
              Paulson & Co.       15%
              Carmignac Gestion 5%
              Detour Gold Mgmt <2%
              Institutions total >90%
    Note: Cash position and share data at December 31, 2012. An additional 0.3 M shares were issued in
    January 2013 following partial exercise of the over-allotment option.

5
Successful Focused Approach
       Record Timing from “Discovery” to Projected Production
                  Detour Lake in 6 years
     2007            2009            2010       2011-12        2013


                                                                   PRODUCTION
                                                                   2013




    ACQUISITION   PRE-FEASIBILITY FEASIBILITY   DEVELOPMENT PRODUCTION
    /DISCOVERY    STUDY           STUDY &
                                  PERMITTING




6
2013 Objectives
    H1 2013
     First gold pour
     Commissioning of second production line
     Securing $90 million credit facility
     20,000 m drilling program targeting high-grade gold mineralization

    H2 2013
     Declaring commercial production
     Gold production target of +350,000 ounces for the year
     Completing pre-feasibility study on Block A
     Advancing evaluation of mine expansion scenarios
     Revising block model for Detour Lake


7
Detour Lake Profile
                                                                                                          September 2012
                                                                        Detour Lake                         Mine Plan(1)

             Open pit                                                   Production Start                    Q1 2013
             @ 0.5 g/t cut-off                20,600E                   OP Reserves (M oz)                    15.6

                                                                        Mill throughput (tpd)                55,000

                                                                        Strip Ratio (waste:ore)                3.7
                                                                        Gold recoveries                       91%
   16,500E
                                                                        Average grade (g/t)                   1.03
                                                                        Estimated mine life (yrs)             21.5
700 m                                          1.0 g/t Au               Avg. Production (oz/yr)              657,000
                                               0.5 - 1.0 g/t Au         Cash operating costs (C$/oz)          $710
                                               <0.5 g/t Au
                                                                        Total cash costs (C$/oz)              $749
                                                                        Initial Capex (C$ B)(2)               1.45


      (1) Gold price assumptions: US$1,600/oz for 2013, US$1,500/oz for 2014, and US$1,400/oz for 2015.
      (2) Revised to approx. C$1.5 B in news release dated November 8, 2012.


  8
Updated LOM Gold Production
Gold Production (‘000 oz)                        Grade (g/t Au)

800                                                       1.6
                            Avg. 657,000 oz/yr
700                                                       1.4

600                                                       1.2

500                                                       1.0

400                                                       0.8

300                                                       0.6

200                                                       0.4

100                                                       0.2

     0                                                      0




 9
Updated LOM Operating Costs
                                                             Breakdown of 2013-14 TCC
     Operating Costs (LOM) C$/t milled C$/t mined   C$/oz

     Mining costs             11.65      2.49       388
                                                                    LABOUR
     Processing cost           7.83       --        260              18%       POWER

     G&A                       1.86       --         62
                                                                               12%
                                                                                  DIESEL
     Cash operating costs     21.34       --        710     MAINTENANCE            8%
     Royalty (2%) and other    1.26       --         42       22%               G&A
     Refining                  0.12       --          4
                                                                                       5%
     Silver credit            (0.20)      --         (7)         CONSUMABLES       ROYALTY+
                                                                                      OTHER
     Total cash costs (TCC)   22.52       --        749               29%           (2% NSR)
                                                                                       6%
     A 10% change in:
     Diesel or power costs = $9/oz change in TCC
     Cdn$ FX rate = $63/oz in TCC



10
Financial Analysis
     Base Case Assumptions
      Gold - US$1,200/oz (1)                             Power Cdn $0.065/kwh
      F/X - $Cdn/$US = 1.00                              Diesel US$100/barrel (WTI)

                                                     Base Case (1)
      US$ Billions                      Undiscounted (0%)                 5.0%
      Pre-tax cash flow                            4.3                     1.7
      Net cash flow after tax                      3.0                     1.1
      Pre-tax IRR                                         14.4%

      1. Gold price US$1,600/oz for 2013, US$1,500/oz for 2014, and US$1,400/oz for 2015.


                                                    @ US$1,600/oz                           12-12-23
      US$ Billions                      Undiscounted (0%)                 5.0%
      Pre-tax cash flow                            9.4                     4.4
      Net cash flow after tax                      6.6                     3.0
      Pre-tax IRR                                           24.6%


11
                                                                                                       49
DETOUR LAKE MINE
START UP
12
2013 Forecast
     Guidance
      350,000 oz to 400,000 oz of gold
      Total cash costs between C$800/oz and C$900/oz (on
       commercial production of 200,000 oz to 250,000 oz sold)
      Estimated LOM sustaining capital of C$1.2 B:
         2013 = C$180 M (<$80 M in H1)
         2014 = C$140 M




     NOTE: Commercial production to be declared after 60
     consecutive days of operating at >75% of throughput
     (55,000 tpd x 75% = 41,250 tpd)



13
Mining Production
                                   Status
     2012 Pre-Stripping
                               (Year-end 2012)
     Overburden/Till               15.1 Mt
     Waste                          7.7 Mt
     Low Grade (0.3-0.5 g/t)        1.1 Mt
     Ore                            2.2 Mt
     Total                         26.1 Mt




      2.2 Mt ore inventory on ROMs and short-term stockpiles (reconciled
       average grade of approx. 0.7 g/t) (till dilution on first bench)
      Average mining rates of +115,000 tpd in December 2012
      Mining operation on 24 hrs/day, 365 days/yr



14
Mining Production


                                   NORTH WASTE
       MINERALIZED                    DUMP                           PLANT SITE
          ZONE




                                                                      CAMPBELL
                                                                         PIT



              CURRENT
              PIT SHAPE                          APPROX. PIT SHELL
                                                  AT END OF LOM



      Satellite image dated July 2012

15
Detour Lake Open Pit Mine




                 12-10-22

16
DETOUR LAKE
17
             SITE
Overview Detour Lake Facilities
                 SECONDARY
                 CRUSHERS


                             STOCKPILE
                             RECLAIM

      GEODESIC
      DOME




                             PRIMARY
                             CRUSHER




     12-10-22


18
Primary Crusher (100,000 tpd capacity)




     12-10-02                            Gyro is
                                         9 m high

                     35 m
                 to surface




19
Stockpile Reclaim (2 days capacity)




     12-12-02




                           12-12-23




     12-12-23
20
Processing Plant
        Conventional gravity and CIP plant
        55,000 tpd (=92% availability of 60,000 tpd capacity)
        2 parallel lines (each with 1 secondary cone crusher + 1 SAG & 1 ball mill)
        Estimated gravity recovery: 30-40%
        Estimated overall gold recovery: 91.0%
        Leach time 29 hours; leach feed size 80% passing 95 μm




         12-12-23
21
Simple Process Plant @ 92% Availability

                       Stockpile
Gyratory               12 h live capacity
crusher:
60” x 113”
90,000 tpd

                    Secondary crushers:
                    2 X XL-1100                                           Ball mills:
                                                   SAG mills:             2 X 26’ x 40’6’’, 15MW
                    67,000 tpd
                                                   2 X 36’ x 20’, 15MW    55,000 tpd
                                Pebble crushers:
                                                   55,000 tpd
                                2 X XL-1100
                                                                                          To
                                73,000 tpd                                                leaching
                                                                                          circuit
                                                                                          To
                                                                                          gravity
                                                                                          circuit

                                                             Circ. load
                                                                             Circ. load   From
                                                             28 %
  Leach circuit:                                                             250 %        gravity
                                                                                          circuit

  55,000 tpd + 15% contingency in piping capacity

  22
Tailings Management Area (TMA)
      High environmental standard design
      3-cell containment system for natural degradation
         2013: Cell #1 ready for production
         2014: Building additional capacity in Cell #1 and footprint
          for Cell #2




      12-10-22
23
DGC Workforce: Hiring Local First
  423 employees at year-end*                                            DIVISION OF
   (25% are Aboriginal)                                                    LABOUR
                                                FRONT LINE
  Continuing focus on hiring local and            81%               • Professional includes:
                                                                       MGMT, Eng., Geo., Supt.
   regional                                                          • Front Line includes:
                                               PROFESSIONAL
                                                                       Operators, Admin,
                                                          19%          Support




                                                                          WORKFORCE
                                              COCHRANE
                                                                            ORIGIN
                                                AREA   COCHRANE
                                                  26%              25%
                                               NORTHERN                        REST OF
                                                ONTARIO                        ONTARIO
                                                                                     3%
                                                         43%               OTHER
  Work rotation: 1 week in/out                                               2%
  Modern camp facility with 400
                                          * Excludes Corporate office.
   en-suite rooms

24
PLANNING FOR
25
     ORGANIC GROWTH
          Under-Explored Greenstone Belt
Planning for Organic Growth
     5 Year Plan for Successful Organic Growth

     Large prospective land position of approx. 566 km2
     •   Two main gold structures with total strike length of >80km
     •   Continue focus on Detour Lake deposit extension (northern
         structure i.e. Block A)
     •   Test targets on structure south of Detour Lake

     Future objectives
      Grow reserve base to +20 M oz (@ US$850/oz)
      Increase mill throughput to above 75,000 tpd for gold production
       output of +800,000 oz/yr
      Find high-grade ore near-surface within trucking distance to
       supplement mill

26
Successful Growth of Resources
     Resource Growth Exceeding 750% Since IPO

      Date     Accumulative   Resources/Reserves (M oz)
               DGC Drilling                                     Inferred   M&I   2P
                                               10M                 20M           30M
     2005-05                     Estimated by Pelangio

     2006-09                       DGC due diligence
     2007-12     50,000m

     2008-06    123,000m

     2009-09    249,000m                 8.8
     2010-06    334,000m      $850/oz        11.4
     2011-01    430,000m      $850/oz                14.9
     2012-01    523,000m      $850/oz                    15.6



27
Priority #1 – Block A Target



      Block A
      Pre-feasibility




      Block A pre-feasibility study by year-end 2013
      Evaluate potential expansion options

     *Not updated with TWD Dec. 30th PR. On Dec. 1, 2011, Detour Gold announced the acquisition of TWD.


28
Priority #1 – Block A Target

Block A near-surface resource




    2012 DH
    2012 extension DH                            Detour Lake
   DH included in 2011 year-end       2011 year-end reserves = 15.6 M oz
   reserves
   DH not included in 2011 year-end
   reserves
    Historical DH




  29
Priority #2 – South Structure




                                           15.6 M oz in Reserves




                                                            20,000 m
                                                            in H1 2013
                                 MMI Survey Coverage
                                 MMI Au Anomaly

                               Existing DDH
                               Gold occurrence (OGS)
                               DDH intersection >1g/2m
                               DDH intersection >1g/10m

     *Note: Excludes drilling around Detour Lake and M zone (Block A).
30
Invest in Detour Gold
     Our Vision




      Focus on a world-class asset – Detour Lake
         Canada’s largest pure gold play with 15.6 M oz in reserves
         Gold processing initiated in January 2013
      One of the best cash flow/share opportunities
      Average annual gold production of 657,000 oz
      Excellent organic growth potential (5 year plan)
      Potential expansion of mill throughput




31
ADDITIONAL
INFORMATION
 32
Detour Lake Profile
                                                                                   January 2011   September 2012
      Detour Lake
                                                                                     Update (2)     Mine Plan(3)
                            Gold price (US$/oz) (1)                                    850            1,200
                            Foreign exchange rate (US$/Cdn$)                           1.10            1.00
     Assumptions Fuel price (US$/barrel)                                               80              100
                            Income/mining tax rate (%)                                25/10           25/10
                            Net Smelter Royalty (%)                                     2               2
                            Ore milled (Mt)                                           449.6           470.0
                            Waste mined (Mt) (4)                                      1,654           1,734
     Mine                   Strip ratio (waste:ore)                                    3.9             3.7
     Parameters             Average gold grade (g/t)                                   1.03            1.03
                            Total contained gold (M oz)                                14.9            15.6
                            Estimated gold recovery (%)                                91.0            91.0
                            Total recovered gold (M oz)                                13.5            14.1
                            Mine life (years)                                          21              21.5
                            Average annual gold production (oz)                      657,000         657,000
     1.   US$1,600/oz for 2013, US$1,500/oz for 2014, and US$1,400/oz for 2015.
     2.   Press release Jan. 31, 2011 with Technical Report dated Mar. 15, 2011.
     3.   Press release Sept. 4, 2012 with Technical Report dated Oct. 18, 2012.
     4.   Includes low-grade stockpile.
33
Gold Production/Cost Profile
Gold Production (‘000 oz)                                        Total Cash Costs (C$/oz)

800                                              Avg. C$749/oz                      900

700                                                                                 850

600                                                                                 800

500                                                                                 750

400                                                                                 700

300                                                                                 650

200                                                                                 600

100                                                                                 550

     0                                                                              500


         Note: Excludes stripping adjustments.


34
Detour Lake Reserves & Resources
     As at December 31, 2011

                                Tonnes            Grade         Contained Gold
     @ US$850/oz
                               (millions)          (g/t)           (‘000 oz)
     Reserves (1)
     Proven                       101.6             1.29                4,222
     Probable                     368.4             0.96               11,351
     P&P                          470.0             1.03               15,573
     Resources (2)
     Measured                     124.5             1.36                5,424
     Indicated                    554.3             1.00               17,836
     M&I                          678.8             1.07               23,261
     Inferred                     208.5             0.86                5,785


     1.   After a 95% mining recovery rate; Mining dilution factor of 15.5%.
     2.   Inclusive of mineral reserves.




35
Management & Directors
     Management
      Gerald Panneton               Pat Donovan                  Andrew Croal
         Founder, President & CEO     VP Corporate Development       Director Technical Services
         Director                    James Mavor                  Laurie Gaborit
      Michael Kenyon                  VP Finance                    Director Investor Relations
         Executive Chairman          Rachel Pineault              Jean-Francois Metail
      Paul Martin                     VP HR & Northern Affairs      Director Reserves and Resources
         CFO                         James Robertson              Greg Miazga
      Pierre Beaudoin                VP Environment &               Director Construction & Engineering
         Sr VP Capital Projects       Sustainability
                                                                   Bill Snelling
      Julie Galloway                Eric Josipovic                 Director Corporate Systems & Controls
         Sr VP General Counsel &      Controller
                                                                   Christian Brousseau
         Corporate Secretary         Drew Anwyll                    Project Manager
      Derek Teevan                   Director of Operations
         Sr VP External &                                          Patrik Gillerstedt
         Aboriginal Affairs                                          Mine Manager

     Directors
        Peter Crossgrove            Michael Kenyon               Jonathan Rubenstein
        Louis Dionne                Alex G. Morrison             Graham Wozniak
        Robert E. Doyle             Gerald Panneton
        Ingrid Hibbard
36
Analyst Coverage                                                        Updated 13.01.09

     Initiating         Firm                            Analyst                          Target
     Research (y/m/d)
     07.06.11           Haywood                         Kerry Smith                      $42.25
     07.07.09           Paradigm                        Don Blyth/Don MacLean            $38.00
     07.08.07           Raymond James                   Brad Humphrey                    $38.00
     07.11.26           National Bank                   Steve Parsons                    $38.00
     07.12.20           Macquarie                       Mike Siperco                     $38.50
     08.01.14           Canaccord                       Steven Butler                    $34.50
     08.07.14           TD                              Dan Earle                        $39.00
     08.09.04           RBC                             Dan Rollins                      $32.00
     08.11.06           BMO NB                          John Hayes                       $37.00
     09.06.01           NCP Northland                   Catherine Gignac*                $40.00
     09.06.17           Laurentian                      Eric Lemieux                   Under review
     10.04.27           UBS Securities                  Chris Lichtenheldt               $35.00
     10.05.19           CIBC Asset Management           Barry Cooper                     $40.00
     10.06.22           Dahlman Rose                    Adam Graf                         Hold
     10.07.22           Credit Suisse                   Anita Soni                       $42.00
     11.07.15           Bank of America Merrill Lynch   Mike Parkin                      $33.00




37
Contact Information

     Gerald Panneton
     President & CEO
     Email: gpanneton@detourgold.com
     Phone: 416.304.0800

     Laurie Gaborit
     Director Investor Relations
     Email: lgaborit@detourgold.com
     Phone: 416.304.0800


     www.detourgold.com




38

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Dgc 13 01_20-21_cambridge house vric

  • 1. CANADA’S NEXT INTERMEDIATE GOLD PRODUCER Cambridge House International Vancouver Resource Investment Conference January 20-21, 2013 1
  • 2. Forward Looking Information This presentation contains certain forward-looking information as defined in applicable securities laws (referred to herein as “forward-looking statements”). Specifically, this presentation contains forward-looking statements regarding the reserve and resource estimates, ore grade, expected mine life, anticipated gold production, gold recovery, cash operating costs and other costs, capital costs, sensitivity to metal prices and other sensitivities, financial analysis of the project, commencement of operations, potential expansion opportunities, and plans for organic growth. 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 Business - Risk Factors” in Detour Gold’s 2011 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 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. 2
  • 3. NI-43 101 Disclosure Information Containing Estimates of Mineral Reserves and Resources 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 September 4, 2012, Detour Gold announced an updated mine production plan for the Detour Lake project. The NI 43-101 compliant Technical Report for this update was filed on SEDAR on October 18, 2012. The following QPs participated in this update: BBA Inc., under the direction of André Allaire, Eng., Vice-President, Markets – Mining and Metals and Patrice Live, Eng., Mining Manager; SGS Canada Inc., under the direction of Michel Dagbert, Eng., Senior Geostatistician 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. 3
  • 4. Invest in Detour Gold Our Vision  Focus on a world-class asset – Detour Lake  Canada’s largest pure gold play with 15.6 M oz in reserves  Gold processing initiated in January 2013  One of the best cash flow/share opportunities  Average annual gold production of 657,000 oz  Excellent organic growth potential (5 year plan)  Potential expansion of mill throughput 4
  • 5. Share Capital OPTIONS & FN SHARE COMMITMENTS ISSUED AND 8.9 M OUTSTANDING FULLY DILUTED CONVERTIBLE 117.6M 139.5 M NOTES 13.0 M  Market cap: C$2.8 billion  Cash position: C$236 million  Major shareholders:  Paulson & Co. 15%  Carmignac Gestion 5%  Detour Gold Mgmt <2%  Institutions total >90% Note: Cash position and share data at December 31, 2012. An additional 0.3 M shares were issued in January 2013 following partial exercise of the over-allotment option. 5
  • 6. Successful Focused Approach Record Timing from “Discovery” to Projected Production Detour Lake in 6 years 2007 2009 2010 2011-12 2013 PRODUCTION 2013 ACQUISITION PRE-FEASIBILITY FEASIBILITY DEVELOPMENT PRODUCTION /DISCOVERY STUDY STUDY & PERMITTING 6
  • 7. 2013 Objectives H1 2013  First gold pour  Commissioning of second production line  Securing $90 million credit facility  20,000 m drilling program targeting high-grade gold mineralization H2 2013  Declaring commercial production  Gold production target of +350,000 ounces for the year  Completing pre-feasibility study on Block A  Advancing evaluation of mine expansion scenarios  Revising block model for Detour Lake 7
  • 8. Detour Lake Profile September 2012 Detour Lake Mine Plan(1) Open pit Production Start Q1 2013 @ 0.5 g/t cut-off 20,600E OP Reserves (M oz) 15.6 Mill throughput (tpd) 55,000 Strip Ratio (waste:ore) 3.7 Gold recoveries 91% 16,500E Average grade (g/t) 1.03 Estimated mine life (yrs) 21.5 700 m 1.0 g/t Au Avg. Production (oz/yr) 657,000 0.5 - 1.0 g/t Au Cash operating costs (C$/oz) $710 <0.5 g/t Au Total cash costs (C$/oz) $749 Initial Capex (C$ B)(2) 1.45 (1) Gold price assumptions: US$1,600/oz for 2013, US$1,500/oz for 2014, and US$1,400/oz for 2015. (2) Revised to approx. C$1.5 B in news release dated November 8, 2012. 8
  • 9. Updated LOM Gold Production Gold Production (‘000 oz) Grade (g/t Au) 800 1.6 Avg. 657,000 oz/yr 700 1.4 600 1.2 500 1.0 400 0.8 300 0.6 200 0.4 100 0.2 0 0 9
  • 10. Updated LOM Operating Costs Breakdown of 2013-14 TCC Operating Costs (LOM) C$/t milled C$/t mined C$/oz Mining costs 11.65 2.49 388 LABOUR Processing cost 7.83 -- 260 18% POWER G&A 1.86 -- 62 12% DIESEL Cash operating costs 21.34 -- 710 MAINTENANCE 8% Royalty (2%) and other 1.26 -- 42 22% G&A Refining 0.12 -- 4 5% Silver credit (0.20) -- (7) CONSUMABLES ROYALTY+ OTHER Total cash costs (TCC) 22.52 -- 749 29% (2% NSR) 6% A 10% change in: Diesel or power costs = $9/oz change in TCC Cdn$ FX rate = $63/oz in TCC 10
  • 11. Financial Analysis Base Case Assumptions  Gold - US$1,200/oz (1)  Power Cdn $0.065/kwh  F/X - $Cdn/$US = 1.00  Diesel US$100/barrel (WTI) Base Case (1) US$ Billions Undiscounted (0%) 5.0% Pre-tax cash flow 4.3 1.7 Net cash flow after tax 3.0 1.1 Pre-tax IRR 14.4% 1. Gold price US$1,600/oz for 2013, US$1,500/oz for 2014, and US$1,400/oz for 2015. @ US$1,600/oz 12-12-23 US$ Billions Undiscounted (0%) 5.0% Pre-tax cash flow 9.4 4.4 Net cash flow after tax 6.6 3.0 Pre-tax IRR 24.6% 11 49
  • 13. 2013 Forecast Guidance  350,000 oz to 400,000 oz of gold  Total cash costs between C$800/oz and C$900/oz (on commercial production of 200,000 oz to 250,000 oz sold)  Estimated LOM sustaining capital of C$1.2 B:  2013 = C$180 M (<$80 M in H1)  2014 = C$140 M NOTE: Commercial production to be declared after 60 consecutive days of operating at >75% of throughput (55,000 tpd x 75% = 41,250 tpd) 13
  • 14. Mining Production Status 2012 Pre-Stripping (Year-end 2012) Overburden/Till 15.1 Mt Waste 7.7 Mt Low Grade (0.3-0.5 g/t) 1.1 Mt Ore 2.2 Mt Total 26.1 Mt  2.2 Mt ore inventory on ROMs and short-term stockpiles (reconciled average grade of approx. 0.7 g/t) (till dilution on first bench)  Average mining rates of +115,000 tpd in December 2012  Mining operation on 24 hrs/day, 365 days/yr 14
  • 15. Mining Production NORTH WASTE MINERALIZED DUMP PLANT SITE ZONE CAMPBELL PIT CURRENT PIT SHAPE APPROX. PIT SHELL AT END OF LOM Satellite image dated July 2012 15
  • 16. Detour Lake Open Pit Mine 12-10-22 16
  • 18. Overview Detour Lake Facilities SECONDARY CRUSHERS STOCKPILE RECLAIM GEODESIC DOME PRIMARY CRUSHER 12-10-22 18
  • 19. Primary Crusher (100,000 tpd capacity) 12-10-02 Gyro is 9 m high 35 m to surface 19
  • 20. Stockpile Reclaim (2 days capacity) 12-12-02 12-12-23 12-12-23 20
  • 21. Processing Plant  Conventional gravity and CIP plant  55,000 tpd (=92% availability of 60,000 tpd capacity)  2 parallel lines (each with 1 secondary cone crusher + 1 SAG & 1 ball mill)  Estimated gravity recovery: 30-40%  Estimated overall gold recovery: 91.0%  Leach time 29 hours; leach feed size 80% passing 95 μm 12-12-23 21
  • 22. Simple Process Plant @ 92% Availability Stockpile Gyratory 12 h live capacity crusher: 60” x 113” 90,000 tpd Secondary crushers: 2 X XL-1100 Ball mills: SAG mills: 2 X 26’ x 40’6’’, 15MW 67,000 tpd 2 X 36’ x 20’, 15MW 55,000 tpd Pebble crushers: 55,000 tpd 2 X XL-1100 To 73,000 tpd leaching circuit To gravity circuit Circ. load Circ. load From 28 % Leach circuit: 250 % gravity circuit  55,000 tpd + 15% contingency in piping capacity 22
  • 23. Tailings Management Area (TMA)  High environmental standard design  3-cell containment system for natural degradation  2013: Cell #1 ready for production  2014: Building additional capacity in Cell #1 and footprint for Cell #2 12-10-22 23
  • 24. DGC Workforce: Hiring Local First  423 employees at year-end* DIVISION OF (25% are Aboriginal) LABOUR FRONT LINE  Continuing focus on hiring local and 81% • Professional includes: MGMT, Eng., Geo., Supt. regional • Front Line includes: PROFESSIONAL Operators, Admin, 19% Support WORKFORCE COCHRANE ORIGIN AREA COCHRANE 26% 25% NORTHERN REST OF ONTARIO ONTARIO 3% 43% OTHER  Work rotation: 1 week in/out 2%  Modern camp facility with 400 * Excludes Corporate office. en-suite rooms 24
  • 25. PLANNING FOR 25 ORGANIC GROWTH Under-Explored Greenstone Belt
  • 26. Planning for Organic Growth 5 Year Plan for Successful Organic Growth Large prospective land position of approx. 566 km2 • Two main gold structures with total strike length of >80km • Continue focus on Detour Lake deposit extension (northern structure i.e. Block A) • Test targets on structure south of Detour Lake Future objectives  Grow reserve base to +20 M oz (@ US$850/oz)  Increase mill throughput to above 75,000 tpd for gold production output of +800,000 oz/yr  Find high-grade ore near-surface within trucking distance to supplement mill 26
  • 27. Successful Growth of Resources Resource Growth Exceeding 750% Since IPO Date Accumulative Resources/Reserves (M oz) DGC Drilling Inferred M&I 2P 10M 20M 30M 2005-05 Estimated by Pelangio 2006-09 DGC due diligence 2007-12 50,000m 2008-06 123,000m 2009-09 249,000m 8.8 2010-06 334,000m $850/oz 11.4 2011-01 430,000m $850/oz 14.9 2012-01 523,000m $850/oz 15.6 27
  • 28. Priority #1 – Block A Target Block A Pre-feasibility  Block A pre-feasibility study by year-end 2013  Evaluate potential expansion options *Not updated with TWD Dec. 30th PR. On Dec. 1, 2011, Detour Gold announced the acquisition of TWD. 28
  • 29. Priority #1 – Block A Target Block A near-surface resource 2012 DH 2012 extension DH Detour Lake DH included in 2011 year-end 2011 year-end reserves = 15.6 M oz reserves DH not included in 2011 year-end reserves Historical DH 29
  • 30. Priority #2 – South Structure 15.6 M oz in Reserves 20,000 m in H1 2013 MMI Survey Coverage MMI Au Anomaly Existing DDH Gold occurrence (OGS) DDH intersection >1g/2m DDH intersection >1g/10m *Note: Excludes drilling around Detour Lake and M zone (Block A). 30
  • 31. Invest in Detour Gold Our Vision  Focus on a world-class asset – Detour Lake  Canada’s largest pure gold play with 15.6 M oz in reserves  Gold processing initiated in January 2013  One of the best cash flow/share opportunities  Average annual gold production of 657,000 oz  Excellent organic growth potential (5 year plan)  Potential expansion of mill throughput 31
  • 33. Detour Lake Profile January 2011 September 2012 Detour Lake Update (2) Mine Plan(3) Gold price (US$/oz) (1) 850 1,200 Foreign exchange rate (US$/Cdn$) 1.10 1.00 Assumptions Fuel price (US$/barrel) 80 100 Income/mining tax rate (%) 25/10 25/10 Net Smelter Royalty (%) 2 2 Ore milled (Mt) 449.6 470.0 Waste mined (Mt) (4) 1,654 1,734 Mine Strip ratio (waste:ore) 3.9 3.7 Parameters Average gold grade (g/t) 1.03 1.03 Total contained gold (M oz) 14.9 15.6 Estimated gold recovery (%) 91.0 91.0 Total recovered gold (M oz) 13.5 14.1 Mine life (years) 21 21.5 Average annual gold production (oz) 657,000 657,000 1. US$1,600/oz for 2013, US$1,500/oz for 2014, and US$1,400/oz for 2015. 2. Press release Jan. 31, 2011 with Technical Report dated Mar. 15, 2011. 3. Press release Sept. 4, 2012 with Technical Report dated Oct. 18, 2012. 4. Includes low-grade stockpile. 33
  • 34. Gold Production/Cost Profile Gold Production (‘000 oz) Total Cash Costs (C$/oz) 800 Avg. C$749/oz 900 700 850 600 800 500 750 400 700 300 650 200 600 100 550 0 500 Note: Excludes stripping adjustments. 34
  • 35. Detour Lake Reserves & Resources As at December 31, 2011 Tonnes Grade Contained Gold @ US$850/oz (millions) (g/t) (‘000 oz) Reserves (1) Proven 101.6 1.29 4,222 Probable 368.4 0.96 11,351 P&P 470.0 1.03 15,573 Resources (2) Measured 124.5 1.36 5,424 Indicated 554.3 1.00 17,836 M&I 678.8 1.07 23,261 Inferred 208.5 0.86 5,785 1. After a 95% mining recovery rate; Mining dilution factor of 15.5%. 2. Inclusive of mineral reserves. 35
  • 36. Management & Directors Management  Gerald Panneton  Pat Donovan  Andrew Croal Founder, President & CEO VP Corporate Development Director Technical Services Director  James Mavor  Laurie Gaborit  Michael Kenyon VP Finance Director Investor Relations Executive Chairman  Rachel Pineault  Jean-Francois Metail  Paul Martin VP HR & Northern Affairs Director Reserves and Resources CFO  James Robertson  Greg Miazga  Pierre Beaudoin VP Environment & Director Construction & Engineering Sr VP Capital Projects Sustainability  Bill Snelling  Julie Galloway  Eric Josipovic Director Corporate Systems & Controls Sr VP General Counsel & Controller  Christian Brousseau Corporate Secretary  Drew Anwyll Project Manager  Derek Teevan Director of Operations Sr VP External &  Patrik Gillerstedt Aboriginal Affairs Mine Manager Directors  Peter Crossgrove  Michael Kenyon  Jonathan Rubenstein  Louis Dionne  Alex G. Morrison  Graham Wozniak  Robert E. Doyle  Gerald Panneton  Ingrid Hibbard 36
  • 37. Analyst Coverage Updated 13.01.09 Initiating Firm Analyst Target Research (y/m/d) 07.06.11 Haywood Kerry Smith $42.25 07.07.09 Paradigm Don Blyth/Don MacLean $38.00 07.08.07 Raymond James Brad Humphrey $38.00 07.11.26 National Bank Steve Parsons $38.00 07.12.20 Macquarie Mike Siperco $38.50 08.01.14 Canaccord Steven Butler $34.50 08.07.14 TD Dan Earle $39.00 08.09.04 RBC Dan Rollins $32.00 08.11.06 BMO NB John Hayes $37.00 09.06.01 NCP Northland Catherine Gignac* $40.00 09.06.17 Laurentian Eric Lemieux Under review 10.04.27 UBS Securities Chris Lichtenheldt $35.00 10.05.19 CIBC Asset Management Barry Cooper $40.00 10.06.22 Dahlman Rose Adam Graf Hold 10.07.22 Credit Suisse Anita Soni $42.00 11.07.15 Bank of America Merrill Lynch Mike Parkin $33.00 37
  • 38. Contact Information Gerald Panneton President & CEO Email: gpanneton@detourgold.com Phone: 416.304.0800 Laurie Gaborit Director Investor Relations Email: lgaborit@detourgold.com Phone: 416.304.0800 www.detourgold.com 38