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Corporate Presentation
Denver Gold Forum
Colorado Springs, CO – September 18-21, 2016
CANADA’S
INTERMEDIATE
GOLD PRODUCER
Forward Looking Information
This presentation contains certain forward-looking information and statements as defined in applicable securities law (referred to herein as
“forward-looking statements”). Forward-looking statements include, but are not limited to, statements with respect to strategic focus; 2016
guidance (gold production, total cash costs, all-in sustaining costs, and sustaining capital); refinancing <$300 million of the Convertible
Notes before due date; expected future production and mining activities, including development plan for West Detour; life of mine plan;
sustaining plant throughput of > 60,000 tpd in H2 2016; processing MG fines in H2 2016; decision to proceed with underground exploration
program for Zone 58N in Q4 2016; and continuation of exploration activities.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause 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, assumptions and parameters underlying the
life of mine plan not being realized, a decrease in the future gold price, discrepancies between actual and estimated production, changes in
costs (including labour, supplies, fuel and equipment), changes to tax rates; environmental compliance and changes in environmental
legislation and regulation, 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 2015 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 availability of financing for exploration and development activities; operating and sustaining capital
costs; the Company’s ability to attract and retain skilled staff; sensitivity to metal prices and other sensitivities; the supply and demand for,
and the level and volatility of the price of, gold; the supply and availability of consumables and services; the exchange rates of the Canadian
dollar to the U.S. dollar; energy and fuel costs; the accuracy of reserve and resource estimates and the assumptions on which the reserve
and resource estimates are based; 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.
All forward-looking statements in this presentation are necessarily based on opinions and estimates made as of the date such statements
are made and are subject to important risk factors and uncertainties, many of which cannot be controlled or predicted. 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.
All amounts are in US dollars except as noted.
| 2
Notes to Investors
Qualified Persons
The scientific and technical content of this presentation was reviewed, verified and approved by Drew Anwyll, P.Eng., Senior Vice President Technical
Services, a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 “Standards of Disclosure for Mineral Projects”.
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.
Non-IFRS Financial Performance Measures
The Company has included non-IFRS measures in this presentation: total cash costs and all-in sustaining costs. The Company believes that these
measures, in addition to conventional measures prepared in accordance with IFRS, provide investors an improved ability to evaluate the underlying
performance of the Company. The non-IFRS measures are intended to provide additional information and should not be considered in isolation or as a
substitute for measures of performance prepared in accordance with IFRS. These measures do not have any standardized meaning prescribed under
IFRS, and therefore may not be comparable to other issuers. Other companies may calculate these measure differently.
Detour Gold reports total cash costs on a sales basis. Total cash costs include production costs such as mining, processing, refining and site
administration, agreements with Aboriginal communities, less non-cash share-based compensation and net of silver sales divided by gold ounces sold to
arrive at total cash costs per gold ounce sold. The measure also includes other mine related costs incurred such as mine standby costs and current
inventory write downs. Production costs are exclusive of depreciation and depletion. Production costs include the costs associated with providing the
royalty in kind ounces.
The Company believes the measure all-in sustaining costs more fully defines the total costs associated with producing gold. The Company calculates all-in
sustaining costs as the sum of total cash costs (as described above), share-based compensation, corporate general and administrative expense,
exploration and evaluation expenses that are sustaining in nature, reclamation cost accretion, sustaining capital including deferred stripping, and realized
gains and losses on hedges due to operating and capital costs, all divided by the gold ounces sold to arrive at a per ounce figure.
Costs excluded from all-in sustaining costs are non-sustaining capital expenditures and exploration costs that are expected to materially increase
production, financing costs and tax expense. Consequently, this measure is not representative of all of the Company’s cash expenditures. In addition, the
calculation of all-in sustaining costs does not include depreciation and depletion expense as it does not reflect the impact of expenditures incurred in prior
periods.
| 3
OPERATIONS GROWTH BALANCE SHEET
Mine and mill
optimization
Organic growth
valuation
Debt
reduction
Realize on
economies
of scale
Add value with: Maintain
capital
discipline
 Satellite
deposit
development
 Early-stage
project
acquisition
Shareholder
returns
Strategic Focus
4 | 4
DETOUR LAKE
16.4 M OZ
gold reserves
Company Maker Asset
<$900 /OZ
sold2
Long-life asset
Declining AISC1
232
457
506
2013 2014 2015 2016E
Gold Production (k oz)
525-545
655 K OZ/YR
production2
Large scale
Organic Growth Potential
625 KM2
prospective
1. Refer to the section on Non-IFRS Performance Measures on slide 3.
2. Based on life of mine plan dated January 2016.
| 5
AEM/YRI
Canadian
Malartic
G
Red Lake
AEM
Meadowbank
#1 Large scale/Long Life Mine
16.4
7.8
2.1 0.9
DGC
Detour Lake
AEM/YRI
Canadian
Malartic
G
Redlake
AEM
Meadowbank
525-
545
560
300-
330
305
100% ownership in Quality Asset
DGC
Detour Lake
DGC
Detour Lake
2015YE Reserves (M oz) 2016 Production Guidance (K oz)
| 6
PRODUCTION
266 K OZ
gold
H1 2016 Highlights
COSTS FINANCIALS
$664
$925
TCC1
/oz sold
AISC1
/oz sold
$65 OPERATING PROFIT
million
$154 CASH BALANCE
million
DEBT REDUCTION
$82
 Positive infill drilling results from prospective Zone 58N
million
42.9 MT
mined
10.0 MT
milled
1. Refer to the section on Non-IFRS Performance Measures on slide 3. Reconciliation of these measures is described in the
MD&A for Q2’16.
| 7
$681
$623
$500
$358
2013 2014 2015 YTD 2016
$800
$1,000
$1,200
$1,400
$1,600
$1,800
Debt Reduction Plan
Refinancing
Goal
Nov 2017
US$1,327
C$1,730
47% DEBT REDUCTION SINCE 2013
<$300
Note: Cash and short-term investments as at year-end. Gold price as at September 15.
YTD 2016
Gold price
$/oz
 YTD repaid $142 M from surplus cash
| 8
H2 2016 Operational Focus
MINE
 Progress around Campbell pit
 Access to Calcite Zone 2X
 Focus on dilution control
MILL
 Sustain throughput of >60,000 tpd
 Large-scale processing of MG fines test
 Fast track implementation of oxygen
control with lead nitrate for 2017 to
improve recovery
| 9
2016 Revised Guidance (Sept 6, 2016)
1. Refer to the section on Non-IFRS Performance Measures on slide 3. Revised guidance at US$/C$ exchange rate of 1.28
(prior at 1.33).
$700-750/oz sold
K OZ
gold
TCC1
$970-1,020AISC1
/oz sold
$100-110 million No change
Prior 540-570k oz; Access to higher grade Calcite Zone
delayed to Q4 due to flooding in pit caused by heavy
rainfalls in mid-August
Q3: ~120,000 oz / Q4: 138,000-158,000 oz
Prior TCC
$640-700/oz sold
Prior AISC
$920-980/oz sold
525-545
Additional non-cash charge of
C$10 M to account for stockpile
drawdown; Additional C$12 M charge
for the cost of processing the fines
PRODUCTION
COSTS
SUSTAINING CAPITAL
| 10
WEST DETOUR
DEVELOPMENT
Organic Growth Pipeline
ZONE 58N
LOWER DETOUR
Preliminary cost analysis
expected in Q4
Pre-stripping 2018
Permitting and
FN consultation
underway
Gold production
2019
Infill drilling program underway
(at 25 & 50 m spacing)
1 2
Reserves: 1.5 M oz Potential for high-grade
UG mine
| 11
Organic Growth Pipeline
BURNTBUSH
PROPERTY (494 km2)
Start geophysical surveys
and field work in 2017
Underexplored
3 4DETOUR LAKE (525 km2)
REGIONAL EXPLORATION
~10,000 m completed
on Lower Detour trend
~6,500 m underway on
TMA targets
NEW
Geophysical surveys
completed on several
targets
Prospective underexplored
ground at west end of Casa
Berardi fault
Gold anomalies identified in old
drill holes and till samples
| 12
Regional Exploration
Zone 58N
Detour Lake Mine
West Detour
H1 REGIONAL PROGRAM
 Completed 9,977 m in
36 holes on Lower Detour
trend
 Anomalous to up to 5 g/t
intersected over narrow
widths
 IP surveys completed
DRILLING PROGRAM
UNDERWAY
 ~6,500 m of drilling east
of current tailings facility
3
| 13
Burntbush Property4
| 14
Casa Berardi Mine
1.3 M oz Reserves
Past Production 1.9 M oz
GRASSROOT PROPERTIES
 Cover more than 80 km
of primary (EW) and
secondary (NE-SW)
subsidiary
faults
Basement Gneiss
Intermediate to Mafic Volcanics
Mafic Intrusives
Sediments
Felsic to Intermediate Intrusives
Felsic to Intermediate Volcanics
Gold OccurrencesBurntbush
Detour Lake
Zone 58N – Lower Detour
ZONE 58 N: H1 2016 DRILLING
 Completed 36,830 m in 119
holes
 Results confirm good continuity
in upper 250 m where drilled at
25 m intervals
NEXT STEPS
 Complete infill drilling
 Initial environmental baseline
work started
 Surface and UG infrastructure
design work started; preliminary
results expected in Q4
Looking West
- Surface
- 250 m
- 500 m
- 750 m
- 1000 m
2
| 15
LONG-LIFE ASSET WITH LARGE
PRODUCTION PROFILE
PRODUCTION GROWTH
DECLINING AISC
GROWING FREE CASH FLOW
ORGANIC GROWTH POTENTIAL
INTERMEDIATE GOLD PRODUCER
STRONG FUNDAMENTALS
| 16
ADDITIONAL
information
 Safety Performance
 Quarterly Operational
Statistics
 H1 2016 AISC
 Gold & Currency Contracts
at June 30, 2016
 LOM Production Plan
 Year-end 2015 Reserves &
Resources
 Detour Lake Property Map
 Shareholder Information
 Analyst Coverage
 Management & Directors
 Contact Information
| 17
2.5
2.3
1.6
1.3
0.0
0.5
1.0
1.5
2.0
2.5
2014 2015 Q1'16 Q2'16
Total Recordable Injury
Frequency Rate (TRIFR)1
Safety Performance
1. TRIFR: Total recordable injuries x 200,000 hours divided by total man hours worked.
12 Month Rolling
Avg: 1.8
COMMITTED TO ZERO-HARM:
 Initiatives implemented to improve safety
culture and performance:
› Visible Felt Leadership (VFL)
› Life Saving Rules
› Leading Indicators:
Workplace inspections PPE audits
Job observations Safety equipment inspections
Housekeeping audits VFL interactions
 At corporate and site, SAFETY performance is
part of the KPIs
Q2’16
| 18
Quarterly Operational Statistics
Q2’15 Q3’15 Q4’15 Q1’16 Q2’16
Ore mined (Mt) 6.4 6.5 6.3 5.8 5.5
Waste mined (Mt) 19.1 17.0 15.7 15.2 16.4
Total mined (Mt) 25.5 23.5 22.0 21.0 21.9
Strip ratio (waste:ore) 3.0 2.6 2.5 2.6 3.0
Mining rate (tpd) 280,000 255,000 239,000 231,000 241,000
Ore milled (Mt) 5.2 5.2 5.1 4.7 5.3
Mill grade (g/t Au) 0.82 0.86 0.98 0.91 0.92
Recovery (%) 91 90 91 91 89
Mill throughput (tpd) 57,015 56,015 55,522 52,165 58,466
Mill availability (%) 88 85 86 88 87
Ounces produced (oz) 125,348 128,222 146,417 127,136 139,359
Ounces sold (oz) 123,296 126,241 132,209 137,608 131,606
TCC (US$/oz sold) $734 $766 $694 $637 $691
AISC (US$/oz sold) $1,030 $1,071 $858 $824 $1,030
| 19
1. Refer to the section on Non-IFRS Performance Measures on slide 3. Reconciliation of these measures is described in the MD&A for Q2’16.
2. For the 2016 guidance, these costs were included in opex and have no impact on reported AISC1.
H1 2016 AISC1
MAJOR VARIANCES QΔQ
 Sustaining capital spending of $27.6 M in Q2: epuipment rebuilds and
overhauls2, addition of 1 CAT795 truck and April scheduled shutdown
 FX rate:1.29 in Q2 vs. 1.37 in Q1
 Share-based compensation (SBC): share price +58% in Q2
= +$4.4 M in G&A expenses
$824
$1,030
$95
$45
$36
$25 $5
Sustaining
Capital
Q2’16
Other
Opex
SBC
FX Rate
AISC1 YTD $925/oz SOLDQ1’16
QΔQ RECONCILAITION OF AISC1 ($/oz sold)
| 20
Prudent Financial Management
FOR H2’16:
 Maintain a <40% gold hedge coverage
ratio
 All gold hedge positions expire in 2016
Contracts at June 30, 2016 Amount Rate/Price
Gold Forwards 65,000 oz $1,190/oz
Zero cost collars 40,000 oz $1,243-$1,359/oz
Currency Zero cost collars $65 M 1.26-1.34
| 21
LOM Production Plan
3-Year Average Total
2016-
18
2019-
21
2022-
24
2025-
27
2028-
30
2031-
33
2034-
36
2037-
38
LOM LOM
Ore milled (Mt) 21.4 23.0 23.0 23.0 23.0 23.0 23.0 18.1 22.4 514
Head grade (g/t Au) 0.98 0.89 1.06 0.89 0.87 1.06 1.15 1.08 0.99 0.99
Gold recovery (%) 91.5 92.0 92.0 92.0 92.0 92.0 92.0 92.0 91.9 91.9
Gold production (k oz) 617 607 721 604 589 719 781 580 655 15,072
Total mined (Mt) 104.8 119.4 118.8 123.2 118.7 88.5 51.5 19.4 96.3 2,214
Strip ratio (waste:ore) 3.8 4.9 3.5 4.9 5.5 2.5 1.4 0.5 3.5 3.5
Technical Report filed on January 25, 2016.
| 22
Year-end 2015 Reserves & Resources
Notes:
1. Mineral resources and reserves were
completed by Detour Gold in conformity
with generally accepted definitions and
guidelines given in the Canadian Institute
of Mining, Metallurgy and Petroleum (CIM)
Standards on Mineral Resources and
Mineral Reserves as required by NI 43-
101.
2. Mineral reserves were estimated using a
gold price of $1,000/oz and mineral
resources were estimated using a gold
price of $1,200/oz at a US$/C$ exchange
rate of 1.10.
3. Mineral reserves and resources were
based on a cut-off grade of 0.50 g/t Au.
4. Mineral reserves included an average
mining dilution of 5.3% from 2016 to 2018
and 4% for 2018+, at a diluting grade of
0.20g/t Au. Mining ore loss of 5% also
included.
5. Only Probable LG Fines scheduled in the
mine plan were reported as mineral
reserves. The LG fines reserves were
based on a cut-off grade of 0.40 g/t Au.
6. Mineral resources are reported exclusive
of mineral reserves. Mineral resources
that are not mineral reserves do not have
demonstrated economic viability.
7. Totals may not add due to rounding.
At Dec. 31, 2015
RESERVES
Tonnes
(millions)
Grade
(g/t Au)
Contained
Gold Ounces
(000’s oz)
Detour Lake Mine Proven 89.2 1.26 3,603
Probable 351.6 0.95 10,779
Stockpiles 4.8 0.64 98
Total P&P 445.5 1.01 14,480
West Detour Proven 1.8 0.99 56
Probable 47.0 0.97 1,473
Total P&P 48.8 0.98 1,529
LG Fines Probable 20.0 0.60 386
Total P&P 514.3 0.99 16,395
RESOURCES
Detour Lake Mine Measured 17.4 1.33 746
Indicated 66.2 1.00 2,125
M+I 83.6 1.07 2,871
West Detour Measured 0.4 0.85 10
Indicated 36.5 0.86 1,005
M+I 36.9 0.86 1,015
Total M+I 120.5 1.00 3,886
Detour Lake Mine Inferred 33.7 0.81 875
West Detour Inferred 8.6 0.89 246
Total Inferred 42.3 0.82 1,121
| 23
Detour Lake Property
625 km2
Zone 58N
Detour Lake Mine
West Detour
| 24
1. Conversion price for the Notes is $38.50.
2. Cash and short-term investments at June 30, 2016.
Shareholder Information
>80% INSTITUTIONS TOTAL
5.2 M Share options
9.3 M Convertible notes 1
189.0 M FULLY DILUTED
174.5 M Issued & outstanding
Share Structure (03/31/2014) Top Shareholders
12%
C$4.8 BILLION
market cap$154 MILLION
cash position2
Share Structure (August 23, 2016) Top Shareholders
BlackRock
5% Van Eck Associates
5% Fidelity Management
| 25
Initiating
Research
Firm Analyst Target Price at
September 15, 2016
07.06.11 Haywood Kerry Smith $49.00
07.07.09 Paradigm Don Blyth/Don MacLean $39.75
07.08.07 Raymond James Phil Russo $38.50
07.11.26 National Bank Steve Parsons $39.50
07.12.20 Macquarie Mike Siperco $43.00
08.01.14 Canaccord Rahul Paul $35.00
08.07.14 TD Dan Earle $40.00
08.09.04 RBC Dan Rollins $45.00
08.11.06 BMO Brian Quast $39.25
09.06.17 Laurentian Pierre Vaillancourt $35.00
10.05.19 CIBC World Markets Cosmos Chiu $38.00
10.07.22 Credit Suisse Anita Soni $45.00
13.04.16 Scotiabank Trevor Turnbull $39.00
13.08.14 Desjardins Michael Parkin $36.00
13.11.12 Beacon Securities Michael Curran $36.00
13.12.09 GMP Securities Ian Parkinson $37.00
14.02.06 Cormark Securities Richard Gray/Tyron Breytenbach $43.00
14.04.22 Goldman Sachs Andrew Quail $33.00
14.06.17 Dundee Capital Markets Josh Wolfson $43.00
16.06.06 Bank of America Merrill Lynch Michael Jalonen $45.00
Average target C$39.95
Analyst Coverage (20)
| 26
 Paul Martin
President and CEO
 Pierre Beaudoin
COO
 James Mavor
CFO
 Julie Galloway
General Counsel &
Corporate Secretary
 Drew Anwyll
Sr VP Technical Services
 Derek Teevan
Sr VP Corporate &
Aboriginal Affairs
 Jean-François Métail
VP Mineral Resource
Management
 Ruben Wallin
VP Environment & Sustainability
 Charles Hennessey
Mine General Manager
 Laurie Gaborit
Director Investor Relations
 Alberto Heredia
Controller
 Lisa Colnett
 Edward C. Dowling
 Robert E. Doyle
 André Falzon
 Alex G. Morrison
 Jonathan Rubenstein
 Graham Wozniak
 Ingrid Hibbard
 Michael Kenyon
 Paul Martin
Management & Directors
MANAGEMENT
DIRECTORS
| 27
Laurie Gaborit
Director Investor Relations
Email: lgaborit@detourgold.com
Phone: 416.304.0581
Paul Martin
President and Chief Executive Officer
Email: pmartin@detourgold.com
Phone: 416.304.0800
www.detourgold.com
Contact Information
| 28

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Dgc 16 09_18-21 - dgf conference_1x1

  • 1. Corporate Presentation Denver Gold Forum Colorado Springs, CO – September 18-21, 2016 CANADA’S INTERMEDIATE GOLD PRODUCER
  • 2. Forward Looking Information This presentation contains certain forward-looking information and statements as defined in applicable securities law (referred to herein as “forward-looking statements”). Forward-looking statements include, but are not limited to, statements with respect to strategic focus; 2016 guidance (gold production, total cash costs, all-in sustaining costs, and sustaining capital); refinancing <$300 million of the Convertible Notes before due date; expected future production and mining activities, including development plan for West Detour; life of mine plan; sustaining plant throughput of > 60,000 tpd in H2 2016; processing MG fines in H2 2016; decision to proceed with underground exploration program for Zone 58N in Q4 2016; and continuation of exploration activities. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause 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, assumptions and parameters underlying the life of mine plan not being realized, a decrease in the future gold price, discrepancies between actual and estimated production, changes in costs (including labour, supplies, fuel and equipment), changes to tax rates; environmental compliance and changes in environmental legislation and regulation, 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 2015 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 availability of financing for exploration and development activities; operating and sustaining capital costs; the Company’s ability to attract and retain skilled staff; sensitivity to metal prices and other sensitivities; the supply and demand for, and the level and volatility of the price of, gold; the supply and availability of consumables and services; the exchange rates of the Canadian dollar to the U.S. dollar; energy and fuel costs; the accuracy of reserve and resource estimates and the assumptions on which the reserve and resource estimates are based; 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. All forward-looking statements in this presentation are necessarily based on opinions and estimates made as of the date such statements are made and are subject to important risk factors and uncertainties, many of which cannot be controlled or predicted. 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. All amounts are in US dollars except as noted. | 2
  • 3. Notes to Investors Qualified Persons The scientific and technical content of this presentation was reviewed, verified and approved by Drew Anwyll, P.Eng., Senior Vice President Technical Services, a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 “Standards of Disclosure for Mineral Projects”. 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. Non-IFRS Financial Performance Measures The Company has included non-IFRS measures in this presentation: total cash costs and all-in sustaining costs. The Company believes that these measures, in addition to conventional measures prepared in accordance with IFRS, provide investors an improved ability to evaluate the underlying performance of the Company. The non-IFRS measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. These measures do not have any standardized meaning prescribed under IFRS, and therefore may not be comparable to other issuers. Other companies may calculate these measure differently. Detour Gold reports total cash costs on a sales basis. Total cash costs include production costs such as mining, processing, refining and site administration, agreements with Aboriginal communities, less non-cash share-based compensation and net of silver sales divided by gold ounces sold to arrive at total cash costs per gold ounce sold. The measure also includes other mine related costs incurred such as mine standby costs and current inventory write downs. Production costs are exclusive of depreciation and depletion. Production costs include the costs associated with providing the royalty in kind ounces. The Company believes the measure all-in sustaining costs more fully defines the total costs associated with producing gold. The Company calculates all-in sustaining costs as the sum of total cash costs (as described above), share-based compensation, corporate general and administrative expense, exploration and evaluation expenses that are sustaining in nature, reclamation cost accretion, sustaining capital including deferred stripping, and realized gains and losses on hedges due to operating and capital costs, all divided by the gold ounces sold to arrive at a per ounce figure. Costs excluded from all-in sustaining costs are non-sustaining capital expenditures and exploration costs that are expected to materially increase production, financing costs and tax expense. Consequently, this measure is not representative of all of the Company’s cash expenditures. In addition, the calculation of all-in sustaining costs does not include depreciation and depletion expense as it does not reflect the impact of expenditures incurred in prior periods. | 3
  • 4. OPERATIONS GROWTH BALANCE SHEET Mine and mill optimization Organic growth valuation Debt reduction Realize on economies of scale Add value with: Maintain capital discipline  Satellite deposit development  Early-stage project acquisition Shareholder returns Strategic Focus 4 | 4
  • 5. DETOUR LAKE 16.4 M OZ gold reserves Company Maker Asset <$900 /OZ sold2 Long-life asset Declining AISC1 232 457 506 2013 2014 2015 2016E Gold Production (k oz) 525-545 655 K OZ/YR production2 Large scale Organic Growth Potential 625 KM2 prospective 1. Refer to the section on Non-IFRS Performance Measures on slide 3. 2. Based on life of mine plan dated January 2016. | 5
  • 6. AEM/YRI Canadian Malartic G Red Lake AEM Meadowbank #1 Large scale/Long Life Mine 16.4 7.8 2.1 0.9 DGC Detour Lake AEM/YRI Canadian Malartic G Redlake AEM Meadowbank 525- 545 560 300- 330 305 100% ownership in Quality Asset DGC Detour Lake DGC Detour Lake 2015YE Reserves (M oz) 2016 Production Guidance (K oz) | 6
  • 7. PRODUCTION 266 K OZ gold H1 2016 Highlights COSTS FINANCIALS $664 $925 TCC1 /oz sold AISC1 /oz sold $65 OPERATING PROFIT million $154 CASH BALANCE million DEBT REDUCTION $82  Positive infill drilling results from prospective Zone 58N million 42.9 MT mined 10.0 MT milled 1. Refer to the section on Non-IFRS Performance Measures on slide 3. Reconciliation of these measures is described in the MD&A for Q2’16. | 7
  • 8. $681 $623 $500 $358 2013 2014 2015 YTD 2016 $800 $1,000 $1,200 $1,400 $1,600 $1,800 Debt Reduction Plan Refinancing Goal Nov 2017 US$1,327 C$1,730 47% DEBT REDUCTION SINCE 2013 <$300 Note: Cash and short-term investments as at year-end. Gold price as at September 15. YTD 2016 Gold price $/oz  YTD repaid $142 M from surplus cash | 8
  • 9. H2 2016 Operational Focus MINE  Progress around Campbell pit  Access to Calcite Zone 2X  Focus on dilution control MILL  Sustain throughput of >60,000 tpd  Large-scale processing of MG fines test  Fast track implementation of oxygen control with lead nitrate for 2017 to improve recovery | 9
  • 10. 2016 Revised Guidance (Sept 6, 2016) 1. Refer to the section on Non-IFRS Performance Measures on slide 3. Revised guidance at US$/C$ exchange rate of 1.28 (prior at 1.33). $700-750/oz sold K OZ gold TCC1 $970-1,020AISC1 /oz sold $100-110 million No change Prior 540-570k oz; Access to higher grade Calcite Zone delayed to Q4 due to flooding in pit caused by heavy rainfalls in mid-August Q3: ~120,000 oz / Q4: 138,000-158,000 oz Prior TCC $640-700/oz sold Prior AISC $920-980/oz sold 525-545 Additional non-cash charge of C$10 M to account for stockpile drawdown; Additional C$12 M charge for the cost of processing the fines PRODUCTION COSTS SUSTAINING CAPITAL | 10
  • 11. WEST DETOUR DEVELOPMENT Organic Growth Pipeline ZONE 58N LOWER DETOUR Preliminary cost analysis expected in Q4 Pre-stripping 2018 Permitting and FN consultation underway Gold production 2019 Infill drilling program underway (at 25 & 50 m spacing) 1 2 Reserves: 1.5 M oz Potential for high-grade UG mine | 11
  • 12. Organic Growth Pipeline BURNTBUSH PROPERTY (494 km2) Start geophysical surveys and field work in 2017 Underexplored 3 4DETOUR LAKE (525 km2) REGIONAL EXPLORATION ~10,000 m completed on Lower Detour trend ~6,500 m underway on TMA targets NEW Geophysical surveys completed on several targets Prospective underexplored ground at west end of Casa Berardi fault Gold anomalies identified in old drill holes and till samples | 12
  • 13. Regional Exploration Zone 58N Detour Lake Mine West Detour H1 REGIONAL PROGRAM  Completed 9,977 m in 36 holes on Lower Detour trend  Anomalous to up to 5 g/t intersected over narrow widths  IP surveys completed DRILLING PROGRAM UNDERWAY  ~6,500 m of drilling east of current tailings facility 3 | 13
  • 14. Burntbush Property4 | 14 Casa Berardi Mine 1.3 M oz Reserves Past Production 1.9 M oz GRASSROOT PROPERTIES  Cover more than 80 km of primary (EW) and secondary (NE-SW) subsidiary faults Basement Gneiss Intermediate to Mafic Volcanics Mafic Intrusives Sediments Felsic to Intermediate Intrusives Felsic to Intermediate Volcanics Gold OccurrencesBurntbush Detour Lake
  • 15. Zone 58N – Lower Detour ZONE 58 N: H1 2016 DRILLING  Completed 36,830 m in 119 holes  Results confirm good continuity in upper 250 m where drilled at 25 m intervals NEXT STEPS  Complete infill drilling  Initial environmental baseline work started  Surface and UG infrastructure design work started; preliminary results expected in Q4 Looking West - Surface - 250 m - 500 m - 750 m - 1000 m 2 | 15
  • 16. LONG-LIFE ASSET WITH LARGE PRODUCTION PROFILE PRODUCTION GROWTH DECLINING AISC GROWING FREE CASH FLOW ORGANIC GROWTH POTENTIAL INTERMEDIATE GOLD PRODUCER STRONG FUNDAMENTALS | 16
  • 17. ADDITIONAL information  Safety Performance  Quarterly Operational Statistics  H1 2016 AISC  Gold & Currency Contracts at June 30, 2016  LOM Production Plan  Year-end 2015 Reserves & Resources  Detour Lake Property Map  Shareholder Information  Analyst Coverage  Management & Directors  Contact Information | 17
  • 18. 2.5 2.3 1.6 1.3 0.0 0.5 1.0 1.5 2.0 2.5 2014 2015 Q1'16 Q2'16 Total Recordable Injury Frequency Rate (TRIFR)1 Safety Performance 1. TRIFR: Total recordable injuries x 200,000 hours divided by total man hours worked. 12 Month Rolling Avg: 1.8 COMMITTED TO ZERO-HARM:  Initiatives implemented to improve safety culture and performance: › Visible Felt Leadership (VFL) › Life Saving Rules › Leading Indicators: Workplace inspections PPE audits Job observations Safety equipment inspections Housekeeping audits VFL interactions  At corporate and site, SAFETY performance is part of the KPIs Q2’16 | 18
  • 19. Quarterly Operational Statistics Q2’15 Q3’15 Q4’15 Q1’16 Q2’16 Ore mined (Mt) 6.4 6.5 6.3 5.8 5.5 Waste mined (Mt) 19.1 17.0 15.7 15.2 16.4 Total mined (Mt) 25.5 23.5 22.0 21.0 21.9 Strip ratio (waste:ore) 3.0 2.6 2.5 2.6 3.0 Mining rate (tpd) 280,000 255,000 239,000 231,000 241,000 Ore milled (Mt) 5.2 5.2 5.1 4.7 5.3 Mill grade (g/t Au) 0.82 0.86 0.98 0.91 0.92 Recovery (%) 91 90 91 91 89 Mill throughput (tpd) 57,015 56,015 55,522 52,165 58,466 Mill availability (%) 88 85 86 88 87 Ounces produced (oz) 125,348 128,222 146,417 127,136 139,359 Ounces sold (oz) 123,296 126,241 132,209 137,608 131,606 TCC (US$/oz sold) $734 $766 $694 $637 $691 AISC (US$/oz sold) $1,030 $1,071 $858 $824 $1,030 | 19
  • 20. 1. Refer to the section on Non-IFRS Performance Measures on slide 3. Reconciliation of these measures is described in the MD&A for Q2’16. 2. For the 2016 guidance, these costs were included in opex and have no impact on reported AISC1. H1 2016 AISC1 MAJOR VARIANCES QΔQ  Sustaining capital spending of $27.6 M in Q2: epuipment rebuilds and overhauls2, addition of 1 CAT795 truck and April scheduled shutdown  FX rate:1.29 in Q2 vs. 1.37 in Q1  Share-based compensation (SBC): share price +58% in Q2 = +$4.4 M in G&A expenses $824 $1,030 $95 $45 $36 $25 $5 Sustaining Capital Q2’16 Other Opex SBC FX Rate AISC1 YTD $925/oz SOLDQ1’16 QΔQ RECONCILAITION OF AISC1 ($/oz sold) | 20
  • 21. Prudent Financial Management FOR H2’16:  Maintain a <40% gold hedge coverage ratio  All gold hedge positions expire in 2016 Contracts at June 30, 2016 Amount Rate/Price Gold Forwards 65,000 oz $1,190/oz Zero cost collars 40,000 oz $1,243-$1,359/oz Currency Zero cost collars $65 M 1.26-1.34 | 21
  • 22. LOM Production Plan 3-Year Average Total 2016- 18 2019- 21 2022- 24 2025- 27 2028- 30 2031- 33 2034- 36 2037- 38 LOM LOM Ore milled (Mt) 21.4 23.0 23.0 23.0 23.0 23.0 23.0 18.1 22.4 514 Head grade (g/t Au) 0.98 0.89 1.06 0.89 0.87 1.06 1.15 1.08 0.99 0.99 Gold recovery (%) 91.5 92.0 92.0 92.0 92.0 92.0 92.0 92.0 91.9 91.9 Gold production (k oz) 617 607 721 604 589 719 781 580 655 15,072 Total mined (Mt) 104.8 119.4 118.8 123.2 118.7 88.5 51.5 19.4 96.3 2,214 Strip ratio (waste:ore) 3.8 4.9 3.5 4.9 5.5 2.5 1.4 0.5 3.5 3.5 Technical Report filed on January 25, 2016. | 22
  • 23. Year-end 2015 Reserves & Resources Notes: 1. Mineral resources and reserves were completed by Detour Gold in conformity with generally accepted definitions and guidelines given in the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on Mineral Resources and Mineral Reserves as required by NI 43- 101. 2. Mineral reserves were estimated using a gold price of $1,000/oz and mineral resources were estimated using a gold price of $1,200/oz at a US$/C$ exchange rate of 1.10. 3. Mineral reserves and resources were based on a cut-off grade of 0.50 g/t Au. 4. Mineral reserves included an average mining dilution of 5.3% from 2016 to 2018 and 4% for 2018+, at a diluting grade of 0.20g/t Au. Mining ore loss of 5% also included. 5. Only Probable LG Fines scheduled in the mine plan were reported as mineral reserves. The LG fines reserves were based on a cut-off grade of 0.40 g/t Au. 6. Mineral resources are reported exclusive of mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability. 7. Totals may not add due to rounding. At Dec. 31, 2015 RESERVES Tonnes (millions) Grade (g/t Au) Contained Gold Ounces (000’s oz) Detour Lake Mine Proven 89.2 1.26 3,603 Probable 351.6 0.95 10,779 Stockpiles 4.8 0.64 98 Total P&P 445.5 1.01 14,480 West Detour Proven 1.8 0.99 56 Probable 47.0 0.97 1,473 Total P&P 48.8 0.98 1,529 LG Fines Probable 20.0 0.60 386 Total P&P 514.3 0.99 16,395 RESOURCES Detour Lake Mine Measured 17.4 1.33 746 Indicated 66.2 1.00 2,125 M+I 83.6 1.07 2,871 West Detour Measured 0.4 0.85 10 Indicated 36.5 0.86 1,005 M+I 36.9 0.86 1,015 Total M+I 120.5 1.00 3,886 Detour Lake Mine Inferred 33.7 0.81 875 West Detour Inferred 8.6 0.89 246 Total Inferred 42.3 0.82 1,121 | 23
  • 24. Detour Lake Property 625 km2 Zone 58N Detour Lake Mine West Detour | 24
  • 25. 1. Conversion price for the Notes is $38.50. 2. Cash and short-term investments at June 30, 2016. Shareholder Information >80% INSTITUTIONS TOTAL 5.2 M Share options 9.3 M Convertible notes 1 189.0 M FULLY DILUTED 174.5 M Issued & outstanding Share Structure (03/31/2014) Top Shareholders 12% C$4.8 BILLION market cap$154 MILLION cash position2 Share Structure (August 23, 2016) Top Shareholders BlackRock 5% Van Eck Associates 5% Fidelity Management | 25
  • 26. Initiating Research Firm Analyst Target Price at September 15, 2016 07.06.11 Haywood Kerry Smith $49.00 07.07.09 Paradigm Don Blyth/Don MacLean $39.75 07.08.07 Raymond James Phil Russo $38.50 07.11.26 National Bank Steve Parsons $39.50 07.12.20 Macquarie Mike Siperco $43.00 08.01.14 Canaccord Rahul Paul $35.00 08.07.14 TD Dan Earle $40.00 08.09.04 RBC Dan Rollins $45.00 08.11.06 BMO Brian Quast $39.25 09.06.17 Laurentian Pierre Vaillancourt $35.00 10.05.19 CIBC World Markets Cosmos Chiu $38.00 10.07.22 Credit Suisse Anita Soni $45.00 13.04.16 Scotiabank Trevor Turnbull $39.00 13.08.14 Desjardins Michael Parkin $36.00 13.11.12 Beacon Securities Michael Curran $36.00 13.12.09 GMP Securities Ian Parkinson $37.00 14.02.06 Cormark Securities Richard Gray/Tyron Breytenbach $43.00 14.04.22 Goldman Sachs Andrew Quail $33.00 14.06.17 Dundee Capital Markets Josh Wolfson $43.00 16.06.06 Bank of America Merrill Lynch Michael Jalonen $45.00 Average target C$39.95 Analyst Coverage (20) | 26
  • 27.  Paul Martin President and CEO  Pierre Beaudoin COO  James Mavor CFO  Julie Galloway General Counsel & Corporate Secretary  Drew Anwyll Sr VP Technical Services  Derek Teevan Sr VP Corporate & Aboriginal Affairs  Jean-François Métail VP Mineral Resource Management  Ruben Wallin VP Environment & Sustainability  Charles Hennessey Mine General Manager  Laurie Gaborit Director Investor Relations  Alberto Heredia Controller  Lisa Colnett  Edward C. Dowling  Robert E. Doyle  André Falzon  Alex G. Morrison  Jonathan Rubenstein  Graham Wozniak  Ingrid Hibbard  Michael Kenyon  Paul Martin Management & Directors MANAGEMENT DIRECTORS | 27
  • 28. Laurie Gaborit Director Investor Relations Email: lgaborit@detourgold.com Phone: 416.304.0581 Paul Martin President and Chief Executive Officer Email: pmartin@detourgold.com Phone: 416.304.0800 www.detourgold.com Contact Information | 28