Mr. Paul Martin reports

DETOUR GOLD REPORTS SOLID SECOND QUARTER 2015 RESULTS

Detour Gold Corp. has provided its operational and financial results for the second quarter of 2015. This release should be read in conjunction with the company's second quarter 2015 financial statements and management's discussion and analysis (MD&A) on the company's website or on SEDAR. All amounts are in U.S. dollars unless otherwise indicated.

Q2 2015 highlights

• Record gold production of 125,348 ounces;
• Mill throughput rates averaged 57,015 tonnes per day (tpd);
• Mining rates averaged 280,000 tpd;
• Total cash costs of $734 per ounce sold(1) and all-in sustaining costs of $1,030 per ounce sold(1);
• Revenues of $147.5-million on gold sales of 123,296 ounces at an average realized price of $1,215 per ounce(1);
• Amendment of $135-million (Canadian) credit facility;
• Net loss of $15.4-million (nine cents per share) and adjusted net earnings of $500,000 (nil per share)(1);
• Cash and short-term investments balance of $133.2-million at June 30, 2015;
• Drilling program of 30,000 metres at Lower Detour started at end of June.

"We are pleased to report a record quarter. Operationally, the mine and mill exceeded our expectations as reflected by the significantly higher production and lower costs reported this quarter," said Paul Martin, president and chief executive officer. "We expect to continue on this trend and finish the year on a strong note with higher gold production and lower costs in the second half of the year aided by a weaker Canadian dollar."

Q2 2015 summary operational results

• Gold production totalled 125,348 ounces, approximately 9 per cent above the midpoint of the guidance range for the second quarter of 2015.
• For the quarter, the mill facility processed a record 5.2 million tonnes (Mt) of ore or an average of 57,015 tonnes per day (tpd) at recoveries of 91 per cent. Processed grade was 0.82 gram per tonne (g/t), slightly higher than projections for the quarter.
• Mill operating time at 88 per cent was in line with projections with a four-day planned shutdown in June to replace SAG and ball mill liners on both lines, complete further improvements on the 410 conveyor system, and conduct a number of annual inspections which included the thickeners.
• Milling rates attained 2,712 tonnes per operating hour (tpoh) for the second quarter, exceeding the budget rate of 2,600 tpoh and the design rate of 2,500 tpoh. The processing plant has now been operating at design capacity of 55,000 tpd since March, 2015.
• A total of 25.5 Mt (ore and waste) was mined in the second quarter (equivalent to mining rates of 280,000 tpd for phase 1 and 2), approximately 18 per cent higher than the annual budgeted rate of 238,000 tpd and above the fourth quarter target of 268,000 tpd.
• Phase 2 prestripping totalled 1.4 Mt for the quarter.
• At the end of the quarter, run-of-mine stockpiles had been successfully rebuilt to 1.7 Mt grading 0.71 g/t, providing operational flexibility for the second half of 2015.
• Total cash costs for the second quarter of 2015 were $734 per ounce sold(1) and all-in sustaining costs were $1,030 per ounce sold(1), lower than plan due to higher production and a favourable exchange rate.
• Lower unit costs were achieved in the second quarter, mainly due to more tonnes mined and milled. In addition, plant operating costs benefited from consumables (such as grinding media, cyanide and SO2) declining to their lowest levels since production commenced.

                    DETOUR LAKE MINE OPERATION STATISTICS

                                 Q2 2015  Q1 2015  Q4 2014  Q3 2014  Q2 2014

Ore mined (Mt)                      6.37     3.82     4.30     4.20     2.89
Waste mined (Mt)                   19.08    15.97    15.39    14.71    16.11
Total mined (Mt)(1)                25.45    19.79    19.69    18.91    19.00
Strip ratio (waste: ore)             3.0      4.2      3.6      3.5      5.6
Mining rate (tpd)(1)             280,000  220,000  214,000  206,000  209,000

Ore milled (Mt)                     5.19     4.30     4.71     4.53     4.42
Head grade (g/t Au)                 0.82     0.84     0.85     0.88     0.91
Recovery (%)                          91       91       91       90       91
Mill throughput (tpd)             57,015   47,797   51,142   49,186   48,569
Mill availability (%)                 88       78       83       81       83
Ounces produced (oz)             125,348  105,572  116,770  115,344  117,366
Ounces sold (oz)                 123,296  104,497  124,913  106,334  107,206

Average realized price(2), (3)
($/oz)                          $  1,215 $  1,232 $  1,240 $  1,275 $  1,294
Total cash cost per oz sold(2),
(4) ($/oz)                      $    734 $    939 $    886 $    955 $    954
AISC per oz sold(2), (4), (5)
($/oz)                          $  1,030 $  1,321        -        -        -

Mining (Cdn$/t mined)           $   2.42 $   3.16 $   3.22 $   2.98 $   2.87
Milling (Cdn$/t milled)         $   8.81 $  11.78 $  10.17 $  10.09 $  11.67
G&A (Cdn$/t milled)(6)          $   2.72 $   3.89 $   3.30 $   3.25 $   3.46

Note: mill availability is defined as mill operating time.

(1)  For 2015, total mined and mining rate include both phase 1 and 2.
(2)  Reconciliation of these measures is described in the MD&A for the 
     relevant periods.
(3)  Commencing in 2015, the company has adjusted the definition of realized
     gold price to include the impacts of realized gains and losses on gold
     derivative instruments. Prior periods have been adjusted.
(4)  The calculation of this non-IFRS (international financial reporting 
     standards) measure, including prior periods, was adjusted to allocate 
     the electricity adjustment into the appropriate historical period to 
     which the cost applied. Refer to the non-IFRS financial performance 
     measures in the MD&A for Q2 2015.
(5)  For AISC, the company adopted this measure effective Jan. 1, 2015.
(6)  General and administrative costs include site G&A, infrastructure, 
     environmental and aboriginal costs.

• For the remainder of 2015, the company is targeting mining rates ranging between 250,000 and 290,000 tpd. Mine development will be focusing on opening the eastern part of the pit, delivering material to the tailings area using the mine haulage fleet and maximizing feed grade by further reducing mining dilution. Access to the higher grade ore is now anticipated to start in the third quarter versus the fourth quarter and as a result approximately 10,000 to 15,000 ounces from the fourth quarter production is targeted to be processed in the third quarter.
• A second test of processing fines (enriched portion of the low-grade stockpile, referred to as mineralized waste grading an average of 0.44 g/t gold in the February, 2014, life of mine plan) started on July 1 at a rate of up to 4,000 tpd. The test is scheduled to continue throughout the third quarter.

            Q2 2015 SELECTED FINANCIAL INFORMATION

Summary financial data
(in $ millions unless specified)    Q2 2015 Q1 2015 Q4 2014 Q3 2014 Q2 2014

Metal sales                           147.5   127.4   150.6   136.2   139.0
Production costs                      100.2    97.7   110.3   100.6    98.1
Depreciation and depletion             39.8    36.9    43.1    37.3    38.3
Cost of sales                         140.0   134.6   153.4   137.8   136.4
Earnings (loss) from mine operations    7.5    (7.2)   (2.8)   (1.7)    2.6

Net (loss)                            (15.4)  (63.1)  (58.7)   (0.8)  (35.0)
Net (loss) per share                  (0.09)  (0.38)  (0.37)  (0.00)  (0.22)
Adjusted net earnings (loss)(1), (2)    0.5   (24.9)  (17.1)  (17.9)  (18.9)
Adjusted net earnings (loss) per
share(1), (2)                          0.00   (0.15)  (0.11)  (0.11)  (0.12)

Note: Totals may not add up due to rounding.

(1)  Reconciliation of these measures is described at in the MD&A for the 
     relevant periods.
(2)  The calculation of this non-IFRS measure, including prior periods, was
     adjusted to allocate the electricity adjustment into the appropriate
     historical period to which the cost applied. Refer to the non-IFRS
     financial performance measures in the MD&A for Q2 2015.

Q2 2015 financial performance

• Metal sales for the second quarter were $147.5-million. The company sold 123,296 ounces of gold at an average realized price of $1,215 per ounce(1), higher than the average London PM fix gold price of $1,192 per ounce due to the company's gold hedging program.
• Cost of sales for the first quarter was $140.0-million, including $39.8-million of depreciation and depletion expense, or $323 per ounce sold.
• The company recorded a net loss of $15.4-million (nine cents per share) in the second quarter. Adjusted net earnings(1) in the second quarter amounted to $500,000 (nil per share) and excludes non-cash items such as the impact of foreign exchange resulting in a deferred tax recovery and change in the fair value of the company's convertible notes.

Q2 2015 liquidity and capital resources

• Operating cash flow for the quarter was $52-million.
• During the quarter, sustaining capital expenditures were $25.8-million and included $7.5-million for the mine, $5.2-million for the plant, $6.5-million for the tailings facility and $6.6-million for others. There were no cash deferred stripping costs for the period.
• On June 25, 2015, the company reported an amendment to its $135-million (Canadian) senior credit facility, which eliminated the completion test and provided more flexible financial covenants. The company has no amount drawn under the revolving facility of $85-million (Canadian) and $42.6-million (Canadian) drawn under the $50-million (Canadian) letter of credit facility.
• Production costs in the second quarter of 2015 include an unfavourable adjustment to the company's electricity rebate related to electricity usage from January, 2013, to April, 2015. The adjustment resulted in an additional cost of $12.5-million, of which $9.7-million was recorded in current period production costs, and $2.8-million related to precommercial production period and charged to property, plant and equipment. The portion of the adjustment relating to 2015 usage amounted to $2.0-million. The balance is payable in 20 equal monthly instalments commencing in the third quarter of 2015.
• Cash and short-term investments increased to $133.2-million at June 30, 2015.

Financial risk management

• As at June 30, 2015, the company had a total of 35,000 ounces of outstanding gold hedges at an average price of $1,276 per ounce to be settled before the end of the third quarter.
• The company has entered into a commodity swap to economically hedge approximately 50 per cent of its diesel consumption for the next three months, representing approximately six million litres. The company will purchase a diesel product at a fixed price of 46 cents per litre, and sell at the average monthly rate.
• As at June 30, 2015, the company has zero cost collars to hedge a total of $40-million, guaranteeing it will purchase Canadian dollars at a rate of no worse than 1.11 and can participate at a rate of up to 1.21. In addition, the company has $40-million of forward contracts at an average exchange rate of 1.26.

Outlook

• Detour Gold reaffirms its 2015 guidance of between 475,000 and 525,000 ounces of gold at total cash costs(1) of $780 to $850 per ounce sold. All-in sustaining costs(1) are expected to be between $1,050 and $1,150 per ounce sold.
• Expected sustaining capital expenditures and capitalized stripping costs for 2015 remain as previously stated at approximately $90-million to $100-million and $20-million to $25-million, respectively.
• Exploration expenditures for 2015 have increased to approximately $8-million with this summer 30,000-metre drilling program at Lower Detour.
• The LOM plan update is expected to be completed at the end of 2015 and will be released along with the 2016 guidance.

Lower Detour drilling program

The company started its 30,000-metre drilling program at the end of June. To date, 7,200 metres in 20 holes have been completed on the Lower Detour target, located six to seven kilometres south of the Detour Lake processing plant. The majority of the holes have encountered visible gold in the targeted mineralized zones. Assay results are pending.

Technical information

The scientific and technical content of this news release was reviewed, verified and approved by Drew Anwyll, PEng, senior vice-president, technical services, a qualified person as defined by Canadian Securities Administrators National Instrument 43-101 -- standards of disclosure for mineral projects.

Conference call

The company will host a conference call on Thursday, July 30, 2015, at 10 a.m. ET where senior management will discuss the second quarter operational and financial results. Access the conference call as follows:

• Via webcast, go to the company's website and click on the "Q2 2015 results conference call and webcast" link on home page;
• By phone toll-free in Canada and the United States 1-800-319-4610;
• By phone internationally 416-915-3239.

The conference call will be recorded and playback of the call will be available after the event by dialling toll-free in Canada and the United States 1-800-319-6413, or internationally 604-638-9010, pass code 1532 (available up to Aug. 31, 2015).

We seek Safe Harbor.