Detour Gold Announces President & CEO Gerald Panneton Recipient of 2012 PDAC Bill Dennis Award
TORONTO, ONTARIO -- (Marketwire) -- 01/23/12 -- Detour Gold Corporation (TSX: DGC) ('Detour Gold') is very pleased to announce that the Prospectors & Developers Association of Canada ('PDAC') has selected Detour Gold's founder, President & CEO, Gerald Panneton as the recipient for the 2012 PDAC Bill Dennis Award for a Canadian discovery or prospecting success.
This award, which honours the memory of a PDAC past president, is presented annually at the association's annual convention held in Toronto in March to honour individuals who have made a significant mineral discovery or made an important contribution to the prospecting or the exploration industry. Gerald receives this award for his leadership of the team that has advanced the Detour Lake project in northern Ontario into Canada's largest undeveloped gold deposit. At year-end 2010, the Detour Lake project had proven and probable open pit reserves of 14.9 million ounces of gold. The Company started construction of the mine at the end of 2010 and anticipates pouring its first gold bar in the first quarter of 2013.
The presentation of this award will be made at the PDAC Annual Awards Banquet, which will be held during the PDAC convention in Toronto on March 5, 2012.
Gerald Panneton commented, 'To be selected to receive this award is a great honour. On behalf of the entire Detour Gold team whose hard work and dedication made this achievement possible, I would like to thank the PDAC for this recognition. We believe there is still significant discovery potential on our large prospective underexplored Detour Lake property and we plan to continue our successful exploration work for years to come.'
About Detour Gold
Detour Gold is a Canadian gold exploration and development company whose primary focus is to advance the development of its Detour Lake gold project, located in northeastern Ontario, towards production. Detour Gold's shares trade on the Toronto Stock Exchange under the trading symbol DGC.
Forward-Looking Information
This news release contains certain forward-looking information as defined in applicable securities laws (referred to herein as 'forward-looking statements'). Specifically, this news release contains forward-looking statements regarding continued exploration work and future discovery potential on the Detour Lake property. 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 July 27, 2011 short form prospectus and in the continuous disclosure documents filed by Detour Gold on and available at www.sedar.com.
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; the supply and demand for, and the level and volatility of the price of, gold; the results of the feasibility study and the assumptions on which the feasibility study is based; the accuracy of reserve and resource estimates and the assumptions on which the reserve and resource estimates are based; the receipt of necessary permits; market competition; ongoing relations with employees and 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. Certain information contained in this news release may be deemed 'forward looking'. All statements in this news release, other than statements of historical fact, that address events or developments that Detour Gold or Trade Winds expect to occur, are 'forward-looking statements'. Forward-looking statements involve known and unknown risks, uncertainties and other factors which are beyond Detour Gold's or Trade Winds' ability to predict or control and may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements.
Contacts:
Detour Gold Corporation
Gerald Panneton
President and CEO
(416) 304.0800
Detour Gold Corporation
Laurie Gaborit
Director Investor Relations
(416) 304.0581