Expert Analysis

John Hayes, BMO Capital Markets (1/11/12) "Detour Gold Corp. released 136 intercepts from 51 drill holes having a weighted-average grade of 1.46 g/t gold (high-grade assays cut to 20 g/t) over an average intercept of 12.1m. . .significantly, gold mineralization was intercepted above the higher-grade QK zone, which is situated outside, deeper and to the west of the current Detour pit-shell. . .exploration beyond the western pit-shell boundary continues to demonstrate potential for further resource and reserve growth of the overall deposit beyond the current estimated gold resource of 25.6 Moz."

Kerry Smith, Haywood Securities (1/9/12) "Detour Gold Corp.'s 100%-owned Detour Lake gold project in northeastern Ontario is being advanced as a 55–60 Kmtpd conventional open-pit operation with first production beginning in early 2013; annual production over the first full five years of operations is estimated at 640 Koz gold, and 550 Koz on average over a 29‐year mine life at a total cash cost of less than US$545/oz. . .an updated economic study in January 2011 reconfirmed the economic viability. Detour has effectively eliminated project-financing risk from the equation; with federal approval announced in late December 2011 and the project now fully permitted, the company is well positioned to become the next big producer in Canada."

Steve Parsons, National Bank Financial (1/4/12) "Detour completes ~$10M flow-through financing. . .funds raised are to be used primarily for drill testing of the higher-grade QK zone to the west of the planned open pit as well as follow-up drilling on prospective higher grade intersections in the Lower Detour Deformation Zone to the south. . .in late December 2011, the Comprehensive Study Report for the environmental assessment of the Detour Lake project received a 'go ahead' decision and has been referred to the appropriate federal ministries for approval. The permits were largely expected given the Provincial approval and First Nations support already in place. Still, we view the federal approval as positive since it paves the way for a return to a more aggressive drill program and keeps production timelines intact. . .reiterating Outperform rating."