Detour Gold Corporation

TSX: DGC

TORONTO, ONTARIO--(Marketwire - Oct. 30, 2008) - Detour Gold Corporation (TSX:DGC) ("Detour Gold" or the "Company") is pleased to announce that it has exercised its option on the Detour Lake mine property (the "Mine Option Property") and has acquired ownership of the Mine Option Property from Goldcorp Canada Ltd. ("Goldcorp") pursuant to the previously announced agreement (the "Purchase Agreement") between the Company and Goldcorp described in the Company's April 15, 2008 press release. Detour Gold is now the sole owner of the Mine Option Property, including all surface rights.

The Detour Lake gold deposit, currently the focus of Detour Gold's feasibility study, is located on the Mine Option Property.

Pursuant to the terms of the Purchase Agreement, the Company has assumed all of Goldcorp's liabilities and obligations relating to the Mine Option Property and certain other exploration properties in the Detour Lake and Massicotte areas of Ontario and Quebec. In connection with the closing of this transaction, the Company has become the proponent under an amended mine closure plan for the Mine Option Property (the "Amended Closure Plan") pursuant to the Mining Act (Ontario) and has posted a letter of credit with the Ontario Ministry of Northern Development and Mines in the amount of Cdn$6.5 million to secure its obligations under the Amended Closure Plan.

As part of this transaction the following permits will be transferred to Detour Gold: Certificate of Approval for Industrial Sewage Works (existing tailing facility), Certificate of Approval for landfill, approval for two aggregate pits and a land use permit for the Mine Option Property access road.

In addition, Detour Gold has granted Goldcorp a 1% royalty on the net smelter returns (the "NSR") derived from the Mine Option Property in accordance with the terms of the Option and Access Agreement dated December 10, 1998. The Company has the right to purchase the NSR from Goldcorp at any time by paying Goldcorp the sum of Cdn$1 million.