Global measured and indicated mineral resources of 20.5 million ounces (inclusive of mineral reserves)

Advancing North America's 4th Largest Gold Reserves Towards Development

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Message: Merrill Lynch and BMO Capital Markets (12/23/11)

Mike Parkin, Merrill Lynch (12/23/11) "Detour Gold Corp. announced that the federal government has approved the comprehensive study report regarding the environmental assessment for the Detour Lake project; with this permit, the project is now fully permitted for construction and operation. We continue to rate the company a Buy. . .the mine should generate US$1B in cash in its first two years of production."

John Hayes, BMO Capital Markets (12/23/11) "The Canadian Federal Ministry of Environment has approved Detour Gold Corp.'s comprehensive study report for the Detour Lake gold project. . .formal conclusion of the permitting process removes a project risk that had acted as an overhang on the stock. Upon receipt of the permits, blasting can proceed in earnest and prestripping, which is already under way, can be accelerated. . .the company remains one of our preferred gold names; it is one of our top 15 precious metals selections and is also a member of our top 15 growth stock selections."

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