Detour Gold Announces Partial Exercise of Over-Allotment Option

TORONTO, ONTARIO--(Marketwire - Jan. 10, 2013) -

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Detour Gold Corporation (TSX:DGC) ("Detour Gold" or the "Company") is pleased to announce that the underwriters of its recently completed bought deal public offering (previously announced on December 11, 2012), led by BMO Capital Markets, have purchased 50% of the 600,000 common shares available for issuance pursuant to the exercise of their over-allotment option. In total, 4,300,000 common shares at a price of C$26.50 were issued for aggregate gross proceeds of C$113,950,000. The Company intends to use the net proceeds of the offering for working capital during the ramp-up of the Detour Lake mine and for general corporate purposes.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

About Detour Gold

Detour Gold is about to become a mid-tier gold producer in Canada. Its development project, Detour Lake, is scheduled to start gold production in January 2013. The Detour Lake open pit mine is expected to produce an average of 657,000 ounces of gold annually over a period of 21.5 years. Detour Gold's shares trade on the Toronto Stock Exchange under the trading symbol DGC.