CANADA’S INTERMEDIATE GOLD PRODUCER · 1 CANADA’S INTERMEDIATE GOLD PRODUCER Fourth Quarter and Year-End 2017 Results Conference Call & Webcast – March 9, 2018

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CANADA’S INTERMEDIATE GOLD PRODUCER

Fourth Quarter and Year-End 2017 Results

Conference Call & Webcast – March 9, 2018

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This presentation contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as “forward-

looking statements”). These forward-looking statements reflect current expectations or beliefs regarding future events or the Company’s future performance. All statements other

than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”,

“is expected”, “budget”, “scheduled”, “estimates”, “continues”, “forecasts”, “projects”, “predicts”, “intends”, “anticipates” or “believes”, or variations of, or the negatives of, such words

and phrases or state that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved.

Forward-looking statements contained in this presentation include, without limitation, statements with respect to: guidance for production, operating expense, cash costs, all-in

sustaining costs, and the factors contributing to those expected results, including mine output, mill throughput, gold recoveries, and expected capital and other expenditures;

planned development activities and exploration; estimation of mineral reserves and mineral resources; and permitting timelines.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to differ

materially from those expressed or implied by such forward-looking statements. The forward-looking statements contained are made as of the date hereof, or as of the date or dates

specified in such statements.

Inherent in forward-looking statements are risks, uncertainties and other factors beyond the Company’s ability to predict or control. 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 listed in the section entitled "Description of Business - Risk Factors" in Detour Gold's 2017 Annual Information

Form and in the continuous disclosure documents filed by Detour Gold on and available on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list of factors is not

exhaustive of the factors that may affect forward-looking statements. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied

by forward-looking statements, including those contained in this news release. Such statements are 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; operating and capital costs; the Company’s available cash

resources; the Company's ability to attract and retain skilled staff; the mine development and production schedule and related costs; dilution control; sensitivity to metal prices and

other sensitivities; the supply and demand for, and the level and volatility of the price of, gold; timing of the receipt of regulatory and governmental approvals for development

projects and other operations; the timing and results of consultations with the Company’s Aboriginal partners; the supply and availability of consumables and services; the exchange

rates of the Canadian dollar to the U.S. dollar; energy and fuel costs; required capital investments; estimates of net present value and internal rate of returns; the accuracy of

mineral reserve and mineral resource estimates, production estimates and capital and operating cost estimates and the assumptions on which such estimates are based; market

competition; ongoing relations with employees and impacted communities and general business and economic conditions; and general business and economic conditions.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to differ

materially from those expressed or implied by forward-looking statements. All forward-looking statements, including those herein are qualified by this cautionary statement.

Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-

looking statements whether as a result of new information or future events or otherwise, except as may be required by law. If the Company does update one or more forward-looking

statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.

Forward Looking Information

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Notes to Investors Non-IFRS Financial Performance Measures The Company has included non-IFRS measures in this presentation: total cash costs, all-in sustaining costs, adjusted earnings (loss) and adjusted basic earnings (loss) per

share. The Company believes that these measures, in addition to conventional measures prepared in accordance with IFRS, provide investors an improved ability to evaluate

the underlying performance of the Company. The non-IFRS measures are intended to provide additional information and should not be considered in isolation or as a

substitute for measures of performance prepared in accordance with IFRS. These measures do not have any standardized meaning prescribed under IFRS, and therefore may

not be comparable to other issuers. Other companies may calculate these measure differently.

Detour Gold reports total cash costs on a sales basis. Total cash costs include production costs such as mining, processing, refining and site administration, agreements with

Aboriginal communities, less non-cash share-based compensation and net of silver sales divided by gold ounces sold to arrive at total cash costs per gold ounce sold. The

measure also includes other mine related costs incurred such as mine standby costs and current inventory write downs. Production costs are exclusive of depreciation and

depletion. Production costs include the costs associated with providing the royalty in kind ounces.

The Company believes the measure all-in sustaining costs more fully defines the total costs associated with producing gold. The Company calculates all-in sustaining costs as

the sum of total cash costs (as described above), share-based compensation, corporate general and administrative expense, exploration and evaluation expenses that are

sustaining in nature, reclamation cost accretion, sustaining capital including deferred stripping, and realized gains and losses on hedges due to operating and capital costs, all

divided by the gold ounces sold to arrive at a per ounce figure.

Costs excluded from all-in sustaining costs are non-sustaining capital expenditures and exploration costs that are expected to materially increase production, financing costs

and tax expense. Consequently, this measure is not representative of all of the Company’s cash expenditures. In addition, the calculation of all-in sustaining costs does not

include depreciation and depletion expense as it does not reflect the impact of expenditures incurred in prior periods.

IFRS Measures The Company has included IFRS measure in this presentation: earnings (loss) from mine operations. The Company believes that this measure provides useful information to

investors as an indication of the Company’s principal business activities before consideration of how those activities are financed, sustaining capital expenditures, corporate

administration expense, exploration and evaluation expenses, loss on disposal of assets, finance income and costs, and taxation.

Qualified Persons

The scientific and technical content of this presentation was reviewed, verified and approved by Drew Anwyll, P.Eng., Senior Vice President Technical Services, a Qualified

Person as defined by Canadian Securities Administrators National Instrument 43-101 “Standards of Disclosure for Mineral Projects”.

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Management Participants

JAMES MAVOR

CFO

All monetary amounts are in U.S. dollars unless otherwise stated.

Fourth Quarter and Year-End 2017 Results

Conference Call and Webcast

FRAZER BOURCHIER

PAUL MARTIN

President and CEO COO

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Safety Performance Total Recordable Injury

Frequency Rate (TRIFR)1

(Annual Average)

1. TRIFR: Total recordable injuries x 200,000 hours

divided by total man hours worked.

2017:

TRIFR of 1.78 for the year

Safety performance

improvement in Q4

Completed hiring to bolster the

Safety team

Establish Safety Journey Plan

for 2018

› Including a commitment to

increase behavioral safety

training across workforce

2.3

1.7 1.8

0.0

0.5

1.0

1.5

2.0

2.5

2015 2016 2017

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2017 Highlights

$1,277

150,046

$705

GOLD PRODUCTION (oz)

$200

$989

AVG REALIZED GOLD PRICE1 ($/oz)

REVENUES ($ M)

TCC1 ($/oz sold)

AISC1 ($/oz sold)

156,293 GOLD SALES (oz)

$1,256

571,463

$716

$708

$1,064

561,974

Q4’17 YTD’17

1. Refer to the section on Non-IFRS Performance Measures on slide 3. Reconciliation of these measures is described in the Q4’17 MD&A.

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2017 Financial Highlights

$88.2 net earnings

or $0.50 per share

$114.5 adjusted earnings1 MILLION

or $0.66 per share

$134.1 MILLION cash & cash

equivalents

$161.5 MILLION earnings from

mine operations

MILLION

Repaid $88 M in debt in 2017, $230 M since 2016

1. Refer to the section on Non-IFRS Performance Measures on slide 3. Reconciliation of this measure is described in the Q4’17 MD&A.

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2017 Costs

1. Refer to the section on Non-IFRS Performance Measures on slide 3.

All in Sustaining Costs

Mid-range of guidance

Sustaining capex of $174.8 M,

including $34.4 M of deferred

stripping costs

Q4 Unit Costs

Mining costs impacted mainly

by higher diesel prices and

support equipment repair costs

Processing costs impacted by

mantle repairs (primary

crusher)

$705 $716

$989 $1,064

Q4'17 2017 Q4'17 2017

Q4’2017 2017

Mining (C$/t mined) $2.99 $2.89

Processing (C$/t milled) $10.51 $9.63

G&A (C$/t milled) $3.43 $3.37 TCC1 ($/oz sold) AISC1 ($/oz sold)

2017 2017

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2018 Guidance

600-650 THOUSAND oz gold

$670-730 TCC per oz sold

1

$1,050-1,150 All-in sustaining costs

AISC per oz sold

1

Estimated costs

Total cash costs

Key Assumptions

Gold price of $1,250/oz and CAD vs US FX rate of 1.25 (=C$1,562/oz);

diesel fuel price of C$0.75/L; power cost of C$0.03/kWh

1. Refer to the section on Non-IFRS Performance Measures on slide 3 of this presentation.

Change photo;

same as last

year

Estimated production

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Permitting / Consultation West Detour Mine development

ESR submitted in January 2017

› Supported by provincial government

› 2 out 3 First Nations bands have signed updated agreements

Consultation ongoing with remaining band:

› Operation is now better understood

› Closure plan amendments almost complete

› Walter Lake, water discharge location and footprint to be

resolved

Mine plan allows time to complete permitting discussions

Targeting provincial approval by year-end

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2017-18 2019-20 2021-22

Optimization Plan

LOM Plan Targets1

$448

Average Site Cash Flows

per Year (after tax)

(C$ M)

1. LOM plan dated March 2017: $1,250/oz gold price; FX rate of 1.27 for 2018 and 1.25 for 2019+.

$52

$186

Improving near-term production and cash flow profile

With operational confidence gained in 2017 and additional

peer / external review, an alternative mine plan is being

evaluated to improve 2019-20:

› Bring ore tonnes forward from 2021-22

› Reduce reliance on stockpiles in 2020

› Review associated capital plan

Targeting Q2 2018 for completion

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Zone 58N Next steps leading to evaluate

Advanced Exploration program

Conceptual UG Design

for Zone 58N

Completed 4,750 m of drilling at 12.5 m

spacing in Q4 2017 for further testing of

block model

Completing block model with improved

geological interpretation

Next steps:

› Initial mineral resource estimate in Q2

› Evaluating an advanced exploration

program to test the underground mining

potential of Zone 58N

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COO’s First Impressions

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8

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Operating upside to be realized….

Block model performing well

Well capitalized operation performing below standards

Near-term operational priorities:

› Resolve below benchmark mill and mobile fleet availabilities

› Upgrade overall maintenance planning and scheduling

› Improve costs with increased unit productivities and reduced

contractor usage

› Enhance LOM production profile

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Closing Comments 2018 to be another solid Year for

Detour Gold:

Production growth

Continued free cash flow growth

Financial strength and flexibility

Leverage to gold price

ATTRACTIVE VALUATION OPPORTUNITY

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DETOUR GOLD

INTERMEDIATE GOLD PRODUCER

Q & A October 2017

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Additional Information 2017 Operational Statistics

2017 Financial Review

Shareholder Information

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2017 Operational Statistics

Q1’17 Q2’17 Q3’17 Q4’17 2017

Ore mined (Mt) 4.8 4.9 5.4 4.7 19.7

Waste mined (Mt) 17.0 20.4 20.6 22.4 80.4

Total mined (Mt) 21.8 25.2 26.1 27.0 100.1

Strip ratio (waste:ore) 3.6 4.2 3.8 4.8 4.1

Mining rate (tpd) 242,000 277,000 283,000 294,000 274,000

Ore milled (Mt) 5.2 5.5 5.7 5.0 21.4

Mill grade (g/t Au) 0.88 0.95 0.86 1.04 0.93

Recovery (%) 89 90 90 90 90

Mill throughput (tpd) 58,114 60,259 61,548 54,144 58,508

Ounces produced (oz) 131,418 150,138 139,861 150,046 571,463

Ounces sold (oz) 134,213 142,970 128,498 156,293 561,974

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2017 Financial Review Income Statement

($ M, except per share amount) Q4’17 Q4’16 2017 2016

Metal Sales $ 200.0 $ 176.6 $ 707.8 $ 658.3

Cost of sales

Production costs 110.9 123.9 405.9 398.1

Depreciation 39.1 47.8 140.4 165.3

Earnings from Mine Operations 50.0 4.8 161.5 94.9

Corporate and administrative expense 4.8 2.1 22.7 28.0

Exploration and evaluation expense 2.3 2.4 7.9 11.0

Other operating (income) expenses (0.6) 0.0 (0.1) (0.1)

Earnings before Finance Items and Taxes 43.5 0.3 131.0 56.0

Net finance income (cost) (11.0) 3.0 39.2 80.4

Income and mining tax expense (15.8) (16.8) 3.6 (17.5)

Net Earnings (loss) $ 16.7 $ (13.5) $ 88.2 $ (6.9)

Earnings (loss) per Share – basic $ 0.10 $ (0.08) $ 0.50 $ (0.04)

Note: Totals may not down add due to rounding.

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2017 Financial Review Adjusted Earnings (Loss) per Share

($ M, except per share amount) Q4’17 Q4’16 2017 2016

Net Earnings (Loss) $ 16.7 $ (13.5) $ 88.2 $ (6.9)

Adjusted for:

Fair value (gain) loss of the convertible notes 0.0 (13.0) (0.9) 4.6

Accretion on debt 5.4 7.6 28.5 31.8

Accretion on decommissioning and restoration provision 0.0 0.0 0.2 0.1

Non-cash unrealized (gain) loss on derivative instruments 1.0 (4.5) (0.5) (1.7)

Foreign exchange (gain) loss 1.3 0.6 (4.6) 0.0

Deferred income and mining taxes 15.8 16.8 3.6 (17.5)

Adjusted Earnings (Loss)1 $ 40.2 $ (6.0) $114.5 $ 10.4

Adjusted Basic Earnings (Loss) per Share1 $ 0.23 $ (0.03) $ 0.66 $ 0.06

1. Refer to the section on Non-IFRS Performance Measures on slide 3. Reconciliation of these measures is described in the MD&A for

the relevant period.

Note: Totals may not down add due to rounding.

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2017 Financial Review Cash Flows

($ M) Q4’17 Q4’16 2017 2016

Operations $ 86.5 $ 44.0 $ 282.6 $ 215.7

Working capital Items 12.6 18.0 7.4 (18.7)

Operating activities 99.1 62.0 290.0 197.0

Investing activities (44.4) (37.8) (175.3) (103.5)

Financing activities (33.1) (9.8) (111.8) (124.2)

Effects of exchange rate changes (1.2) (0.6) 1.8 (0.5)

Changes in cash and cash equivalents 20.4 (13.8) 4.7 (31.2)

Cash and cash equivalents – beginning of period 113.7 115.6 129.4 160.6

Cash and cash equivalents – end of period $ 134.1 $ 129.4 $ 134.1 $ 129.4

Note: Totals may not down add due to rounding.

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Shareholder Information

>80% INSTITUTIONS TOTAL

4.6 M Share options & Units

179.5 M FULLY DILUTED

174.9 M Issued & outstanding

Share Structure (03/31/2014)

11%

$134 MILLION cash and cash equivalents at December 31, 2017

Share Structure (March 8, 2018) Top Shareholders

Van Eck Associates

8% BlackRock

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Contact Information

Laurie Gaborit VP Investor Relations

Email: [email protected]

Phone: 416.304.0581

www.detourgold.com

Paul Martin President and Chief Executive Officer

Email: [email protected]

Phone: 416.304.0800