Detour Gold Completes US$500M Senior Note Offering

On December 3, 2010, Detour Gold Corporation completed a private placement offering of US$500 million aggregate principal amount of 5.50 per cent senior unsecured convertible notes due 2017. US$250 million of notes were purchased by a syndicate of underwriters led by BMO Capital Markets and including RBC Capital Markets and UBS Securities Canada Inc., and US$250 million of notes (including US$75 million of Class A notes) were purchased by Paulson & Co. Inc., on behalf of the several investment funds and accounts that it manages.

Detour intends to use the proceeds of the offering to finance the development of its wholly owned Detour Lake gold project in northeastern Ontario.

Detour was represented in-house by Julie Galloway, Vice-President and General Counsel, and by Lang Michener LLP, with a team in Toronto that included Hellen Siwanowicz, Paul Davis, Andrew Tam and David Mendicino (Canadian securities); Carl De Vuono and Craig Manuel (corporate); Eric Friedman (banking) and Kalle Soomer, QC (tax); and with a team in Vancouver that included Herbert Ono (US securities).

The underwriters were represented by Fasken Martineau DuMoulin LLP, with a team in Toronto that included Robert Mason and Amanda Fullerton (Canadian securities); Jon Holmstrom (banking) and Mitchell Thaw (tax); and by Kenneth Sam (US securities) of Dorsey & Whitney LLP's Toronto office.

Paulson & Co. Inc. was represented by Goodmans LLP, with a team in Toronto that included Bill Gorman, Mark Spiro and Eric Robb (Canadian securities) and Maureen Berry and Jarrett Freeman (tax); and by Kleinberg, Kaplan, Wolff & Cohen, P.C., with a team in New York that included Max Karpel, Mary Kuan and Kenneth Wiggins (corporate and US securities) and Philip Gross (tax).