Page 36 Michael Mick McMullen a man with a successful history in interna tional mining was named chief ex ecutive of cer and director of Detour Gold in April 2019 bringing a steady hand to steer the Ontario based gold company into calmer waters af ter a stormy 2018 McMullen whose appointment was ef ective as May 1 2019 has over 25 years of international experience in the mining industry with an accom plished background in all aspects of the mining business including ex ploration permitting mine develop ment f nancing operations product sales and asset acquisition and di vestments as well as the debt and equity markets He has managed multiple operations open pit and underground mines across multiple jurisdictions His experience covers a range of commodities including copper gold iron ore and PGMs I am excited to be joining the Com pany and look forward to working with the team to continue to build a leading midtier gold producer with a strong safety culture and cost perfor mance The Company has a unique asset with a long mine life in a low risk jurisdiction that has the potential to deliver signif cant value to share Detour Gold holders I look forward to engaging with the Company s stakeholders to provide our vision for the way for ward for the Company Since 2018 Mr McMullen has been a senior advisor to Black Mountain LLC a private company engaged in identifying and capturing high growth opportunities within the natu ral resource space W e are delighted to welcome Mick to the CEO role W e will greatly ben ef t from his wealth of experience and his proven track record of build ing and leading successful teams employing strict capital discipline and delivering outstanding returns to investors said Interim Chair of the Board of Detour Gold Dawn Whit taker commented W e look for ward to his leadership in taking the Company through its next phase of growth and development McMullen was Chief Executive Of f cer and a Director of platinum and palladium PGM producer Still water Mining Company from 2013 to 2017 prior to its acquisition by Sibanye Gold Limited for an equity value of US22 billion Under his leadership Stillwater at tained its best safety performance ever reduced AISCPGM ounce by approximately one third expanded its PGM recycling business to be the largest in the world and added ap proximately US11 billion in equity value against a backdrop of a 10 fall in PGM prices Prior to joining the Stillwater Min ing Company McMullen served as a Principal at MRI Advisory AG a private company focusing on the development of metal and minerals projects in the Americas Europe and Africa He was responsible for managing the mining investments of the Principals and supervising the technical due diligence for a va riety of commoditybacked funding structures Following MRI Advisory transactions he held the following executive roles during that period President and Chief Executive Of f cer of New Chris Minerals Ltd the predecessor of GT Gold Corp from 201 1 to 2016 Executive Chair man of Lachlan Star Ltd from 2007 to 2013 and Managing Director of Northern Iron Ltd from 2007 to 2009 and President of Northern Iron Mar keting AG until June 2010 McMullen holds a Bachelor of Sci ence degree in geology from New castle University in New South W ales and pursued graduate stud ies in mineral economics at W estern Australian School of Mines McMul len s appointment comes after a turbulent last quarter of 2018 which saw the successful replacement of Detour Gold s board by a vote in December 2018 forced by rebel lious shareholders led by investor John Paulson who were concerned about the poor performance of the company Detour s share price climbed up to 1258 Cdn after the annnounce ment after McMullen s appointment Detour s stock had been valued at 33 Cdn in 2016 and dropped to 962 Cdn by October 2018 With the hiring of the experienced Michael McMullen Detour hopes to improve the company s performance and increase its share value Detour Gold is a midtier gold pro ducer in Canada that holds a 100 interest in the Detour Lake mine a long life largescale open pit opera tion Detour Gold s shares trade on the T oronto Stock Exchange under the trading symbol DGC Detour Gold s mine is located 300 km northeast of T immins The mine is expected to have a life of approxi mately 23 years with gold production of about 659000 oz per year The operation is being expanded with the W est Detour site in the process of being permitted Looks to steady leadership Michael McMullen appointed as CEO and Director