NEW YORK, July 19, 2018 (GLOBE NEWSWIRE) -- Paulson Co. Inc. ("Paulson"), one of the largest institutional investors in Detour Gold Corporation (TSX:DGC) ("Detour Gold" or the "Company”) announces that it intends to requisition a Special Meeting of Shareholders of the Company shortly, to replace a majority of the Company’s directors.  Paulson will request that the Special Meeting be held by no later than September 28, 2018.   

Paulson is increasingly concerned that rather than focusing on the significant issues shareholders have raised, Detour’s management and directors appear intent on using the Company’s resources to engage in meritless litigation strategies. The current board continues to attempt to deflect attention from their failure to maximize shareholder value. Following our last press release on July 18, counsel for Detour wrote to Paulson’s counsel threatening litigation. Detour’s allegations are meritless. Paulson will defend any false and misleading accusations made by Detour and will hold the Company’s management and directors personally accountable.

On July 18, 2018, Paulson issued and filed a press release in which it stated that it had been in contact with the OSC in advance of filing a press release earlier that date. Paulson wishes to clarify that the OSC did not previously review that press release and has not expressed its views on any of the issues raised by Detour and Paulson. Paulson will cooperate with the OSC on any and all issues.

About Paulson Co. Inc.
Paulson, founded in 1994, is an investment management firm specializing in event-driven arbitrage strategies with offices located in New York, London and Dublin.                                             

Contact Details
Investors:
Dan Burch Jeanne Carr
MacKenzie Partners, Inc.
800-322-2885

Media:
Joel Shaffer
Longview Communications Public Affairs
416-649-8006