TORONTO, ONTARIO--(Marketwire - March
8, 2010) - Detour Gold Corporation (TSX:DGC) ("Detour Gold" or the "Company") is
pleased to announce that the Wahgoshig First Nation ("WFN") and Detour Gold
have signed a Letter of Intent ("LoI") to guide their relationship through the
development of the Detour Lake gold project.
Chief Babin of WFN commented, "This letter of
intent will create the basis for our community to participate in the business,
employment and training opportunities on our land as well as working towards
building a positive future for our children."
Gerald Panneton, President and CEO of Detour
Gold noted, "The WFN community's commitment to the environment and to
sustainable development makes them an excellent participant in the upcoming
development of the Detour Lake open pit mine."
The LoI outlines the parties' commitment to
develop an Impact and Benefit Agreement (IBA) and WFN participation in the
environmental assessment and permitting of the Detour Lake mine.
Detour Gold Corporation, Royal Bank Plaza, North Tower, 200 Bay
Street, Suite 2040, Toronto, Ontario M5J 2J1; www.detourgold.com.
Forward Looking Information
This press release contains certain
forward-looking information as defined in applicable securities laws (referred
to herein as "forward-looking statements"). Specifically, this press
release contains forward-looking statements regarding Detour Gold's intent to
advance the Detour Lake project towards the development stage. Forward-looking
statements involve known and unknown risks, uncertainties and other factors
which are beyond Detour Gold's ability to predict or control and may cause
Detour Gold's 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, gold price volatility, changes in debt
and equity markets, the uncertainties involved in interpreting geological data,
increases in costs, environmental compliance and changes in environmental
legislation and regulation, interest rate and 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 2008 annual information form. 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; the estimated timeline
for the development of the Detour Lake gold project; receipt of the permits and
regulatory approvals required for the development of the Detour Lake gold
project; the supply and demand for, and the level and volatility of the price
of, gold; the accuracy of resource estimates and the assumptions on which the
resource estimates are based; market competition; ongoing relations with
employees and local communities, and the execution of impact and benefit
agreements to these impacted communities; and general business and economic
conditions. Accordingly, readers should not place undue reliance on forward-looking
statements. 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.