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Detour Gold Corp

Friday, February 8th, 2008

Detour Gold Corporation is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets (“BMO”) under which the underwriters have agreed to buy 4,000,000 special warrants from Detour Gold on private placement basis, and resell to the public under applicable prospectus exemptions, at a price of $16.30 per Special Warrant, representing an aggregate amount of $65,200,000. Each Special Warrant entitles the holder to acquire, for no additional consideration, one common share of Detour Gold. The net proceeds of the offering will be used mainly to advance the exploration and development of the Detour Lake project in Ontario. Closing is expected to occur on or about February 21, 2008 and is subject to receipt of all necessary regulatory approvals, including the approval of the Toronto Stock Exchange.
The Special Warrants and the underlying common shares will be subject to a four-month hold in Canada. Detour Gold has agreed with BMO and the other underwriters to use commercially reasonable efforts to obtain a receipt for a final prospectus qualifying the issuance of common shares issuable on exercise of Special Warrants within 60 days following the closing.
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 an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

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