Detour Gold secures US $500M debt facility

July 10, 2017 NEWS RELEASE

Detour Gold Arranges US$500 Million Bank Debt Facility

Detour Gold Corporation (TSX:DGC) (“Detour Gold” or the “Company”) announces today that it has concluded its negotiations with its existing bank group on a US$500 million Senior Secured Credit Facility (the “Bank Facility”) comprised of a US$300 million Revolving Credit Facility for a tenor of four years and a US$200 million Term Loan for a tenor of three years. The Bank Facility will replace the Company’s current CDN$135 million Senior Secured Credit Facility upon closing, anticipated to occur later this week. The Bank Facility will be used to repay the remaining balance of US$320.5 million Convertible Notes (the “Notes”) maturing on November 30, 2017, for financial assurance and for general corporate purposes. The Company intends to draw down the full amount of the Term Loan, a portion of the Revolving Credit Facility and use approximately US$30 million of its cash to defease the Notes. These funds will be placed on deposit with the Note trustee and the holders of the Notes will be paid at the maturity date. The Bank Facility includes two financial covenants: (i) a Net Debt to EBITDA (“Leverage Ratio”) covenant and (ii) an Interest Coverage covenant. The interest rate for drawn borrowings is based on the Leverage Ratio and ranges from Libor + 2.125% to 3.125%. Based on the Company’s most recent Net Debt to EBITDA ratio, the Company would be paying interest at the lower end of the range. The Co-Lead Arrangers and Joint Bookrunners are BMO Capital Markets, Canadian Imperial Bank of Commerce, Commonwealth Bank of Australia, Royal Bank of Canada and TD Securities. Bank of Montreal is the Administrative Agent.

About Detour Gold

Detour Gold is an intermediate gold producer in Canada that holds a 100% interest in the Detour Lake mine, a long life large-scale open pit operation. Detour Gold’s shares trade on the Toronto Stock Exchange under the trading symbol DGC.

For further information, please contact:

Paul Martin
Laurie Gaborit
President and CEO
Vice President Investor Relations
Tel: (416) 304.0800
Tel: (416) 304.0581

Detour Gold Corporation, Commerce Court West, 199 Bay Street, Suite 4100, P.O. Box 121, Commerce Court Postal Station, Toronto, Ontario M5L 1E2.