Northgate Minerals Corporation Press Releases

Northgate Minerals Corporation - Conference Call and Webcast Notice of Q2 Financial Results

Thu, 08 Jul 2010 16:35:00 -0400

PDF of Press Release

VANCOUVER, July 8 /CNW/ - You are invited to participate in the Northgate Minerals Corporation (TSX: NGX, NYSE Amex: NXG) live conference call and webcast discussing our second quarter financial results. The conference call and webcast will take place on Tuesday, August 10, 2010 at 10:00 am Toronto time. Northgate's second quarter financial results will be released before the market opens on August 10.

You may participate in the live conference call by dialing 647-427-7450 or toll free in North America at 1-888-231-8191. To ensure your participation, please call five minutes prior to the scheduled start of the call.

A live audio webcast and presentation package will be available on Northgate's homepage at www.northgateminerals.com or by clicking here.

Conference Replay

A replay of the conference call will be available beginning on August 10, 2010 at 1:00 p.m. ET until August 24, 2010 at 11:59 p.m. ET.

    <<
    Replay Access No. 416-849-0833
    Passcode: 8161 4630 followed by the number sign.

    Replay Access No. 800-642-1687
    Passcode: 8161 4630 followed by the number sign.
    >>

Northgate Minerals Corporation is a gold and copper producer with mining operations, development projects and exploration properties in Canada and Australia. Northgate's vision is to be the leading intermediate gold producer by identifying, acquiring, developing and operating profitable, long-life mining properties. The company is forecasting gold production of 310,000 ounces in 2010.

Northgate Minerals Intersects New Gold Zone of 3.46 Grams per Tonne Over 79.5 Metres at Young-Davidson

Tue, 06 Jul 2010 07:03:00 -0400

PDF of Press Release

Hole YD10-198 Intersects Offset Equivalent of the Lower Young-Davidson Zone

VANCOUVER, July 6 /CNW/ - Northgate Minerals Corporation (TSX: NGX, NYSE Amex: NXG) is pleased to report that Hole YD10-198, located west of the Young-Davidson orebody, intersected 3.46 grams per tonne (g/t) gold over 79.5 metres (m) (estimated true thickness is 53.5m).

    <<
                           Hole YD10-198 Highlights

    -   This is a new gold zone west of the currently defined reserves and
        resources that is postulated to be the faulted offset extension of
        the current orebody.

    -   Hole YD10-198 is one of the highest grade-thickness intervals
        intersected to date on the property. This zone is open up, down dip
        and to the west.

    -   A second drill rig is being mobilized to accelerate the definition of
        the zone.
    >>

Ken Stowe, President and Chief Executive Officer, remarked, "Hole 198 is the most exciting hole we have drilled on the Young-Davidson property since hole 1B in 2006 and is a clear indication of the tremendous upside potential that exists to expand the currently known 2.8 million ounce reserve base. Since the discovery of the original Young-Davidson mine in the early 1900s, it has been postulated that the prospective ore hosting rocks should continue to the west beneath a thick sequence of younger cover rock. Hole 198 is the first tangible evidence that this is, in fact, the case. While the thickness and grade of this mineralized interval in the hole are extremely exciting, the real significance is that we have resolved the apparent fault offset that previously limited the western edge of the Young-Davidson deposit. In addition, we have a geophysical signature that appears to trace the key stratigraphy below the younger cover rocks for several kilometres to the west."

-------------------------------------------------------------------------

Diamond Drill Program
The purpose of the 2010 diamond drill program on the west flank of the Young-Davidson deposit was to explore for new resources west of a major north-south trending diabase dyke that appeared to have truncated the zone. The area is covered by younger Proterozoic Sediments. A recently completed gravity survey suggested the geology west of the dyke may have been faulted with an apparent displacement to the north. Hole 198 intersected what appears to be the offset equivalent of the Lower Young-Davidson zone, about 105m further to the north. The gold mineralization here is hosted in mildly hematitic coarse grained Syenite with quartz vein stockwork and pyrite mineralization, similar to what is observed in the main Young-Davidson deposit.

This new "YD West" intersection is considered significant as this zone is open up, down dip and to the west. The YD West zone appears to have excellent potential to add significant gold resources to the project. As a result of the discovery of this faulted offset portion of the deposit, Northgate will be mobilizing a second drill rig in order to test the size of this zone and to investigate the possibility for additional open pit potential if the new zone is found to come close to surface. Approximately 11,000m of additional drilling is planned to test the zone this year.

Overview of Young-Davidson Exploration Area
Gold mineralization on the Young-Davidson property is present primarily in an intrusive syenite host rock dipping at approximately 70 degrees to the south. Figure 1 illustrates a longitudinal view of the current reserves and the location of Hole YD10-198. The blue triangles represent proposed holes that will be drilled in the coming months in order to better define this new discovery.

Figure 1 - Young-Davidson Longitudinal Section

Figure 2 - 9200m Level Plan
Figure 2 presents a level plan (horizontal slice) of the property's geology immediately adjacent to hole 198. The currently defined reserves terminate against the brown diabase dyke that was the western limit of the reserve. Hole 198 clearly demonstrates that the younger diabase dyke occupies a fault with an apparent offset of 105m to the north on the western side of the dyke. The actual displacement on the fault could be to the north, downwards or a combination of the two.

Figure 3 - Cross Section Showing Hole Location
Figure 3, a vertical cross section, illustrates the possibility that a number of previous holes drilled west of the Young-Davidson reserve were not drilled far enough north to intersect the postulated extension to surface of the newly discovered YD West zone. Future drilling will involve extending these existing holes as well as several new holes to explore up and down dip of hole 198.

Table 1: Assay Results from Hole YD10-198

    <<
    -------------------------------------------------------------------------
                                                Interval    True    Gold Cut
    Hole ID                From (m)    To (m)      (m)   Thickness   20 g/t
    -------------------------------------------------------------------------
    YD10-198                1258.0    1337.5      79.5      53.5      3.46
    -------------------------------------------------------------------------
    incl                    1258.0    1265.0       7.0       4.7      6.42
    -------------------------------------------------------------------------
    incl                    1311.5    1319.0       7.5       5.0      5.39
    -------------------------------------------------------------------------
    >>

Quality Control - Analyses and Sample Location
Details of quality assurance/quality control procedures for sample analysis and drill hole survey methodology are reported in detail in the Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") compliant Technical Report filed on SEDAR (www.sedar.com) on August 21, 2009.

Qualified Persons
The program design, implementation, quality assurance/quality control and interpretation of the results are under the control of Northgate's geological staff, which includes a number of individuals who are qualified persons as defined under NI 43-101. Carl Edmunds, PGeo, Northgate's Exploration Manager, is responsible for the overall supervision of the program.

Note to Investors:
The terms "Qualified Person", "Mineral Reserve", "Proven Mineral Reserve", "Probable Mineral Reserve", "Mineral Resource", "Measured Mineral Resource", "Indicated Mineral Resource", and "Inferred Mineral Resource" used in this news release are defined in accordance with NI 43-101.

Northgate Minerals Corporation is a gold and copper producer with mining operations, development projects and exploration properties in Canada and Australia. Our vision is to be the leading intermediate gold producer by identifying, acquiring, developing and operating profitable, long-life mining properties. We are forecasting gold production of 310,000 ounces in 2010.

Cautionary Note Regarding Forward-Looking Statements and Information:
This Northgate press release contains "forward-looking information", as such term is defined in applicable Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, concerning Northgate's future financial or operating performance and other statements that express management's expectations or estimates of future developments, circumstances or results. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects", "believes", "anticipates", "budget", "scheduled", "estimates", "forecasts", "intends", "plans" and variations of such words and phrases, or by statements that certain actions, events or results "may", "will", "could", "would" or "might" "be taken", "occur" or "be achieved". Forward-looking information is based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which Northgate operates, are inherently subject to significant operational, economic and competitive uncertainties and contingencies. Northgate cautions that forward-looking information involves known and unknown risks, uncertainties and other factors that may cause Northgate's actual results, performance or achievements to be materially different from those expressed or implied by such information, including, but not limited to gold and copper price volatility; fluctuations in foreign exchange rates and interest rates; the impact of any hedging activities; discrepancies between actual and estimated production, between actual and estimated reserves and resources or between actual and estimated metallurgical recoveries; costs of production; capital expenditure requirements; the costs and timing of construction and development of new deposits; and the success of exploration and permitting activities. In addition, the factors described or referred to in the section entitled "Risk Factors" in Northgate's Annual Information Form for the year ended December 31, 2009 or under the heading "Risks and Uncertainties" in Northgate's 2009 Annual Report, both of which are available on the SEDAR website at www.sedar.com, should be reviewed in conjunction with the information found in this press release. Although Northgate has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in forward-looking information, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information in this press release is made as of the date of this press release, and Northgate disclaims any intention or obligation to update or revise such information, except as required by applicable law.

Cautionary Note to US Investors Regarding Mineral Reporting Standards:
Northgate prepares its disclosure in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Terms relating to mineral resources in this press release are defined in accordance with National Instrument 43-101-Standards of Disclosure for Mineral Projects under the guidelines set out in the Canadian Institute of Mining, Metallurgy, and Petroleum Standards on Mineral Resources and Mineral Reserves. The Securities and Exchange Commission (the "SEC") permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. The Company uses certain terms, such as, "measured mineral resources" "indicated mineral resources", "inferred mineral resources" and "probable mineral reserves", that the SEC does not recognize (these terms may be used in this press release and are included in the Company's public filings which have been filed with securities commissions or similar authorities in Canada).

Northgate Minerals Renews Base Shelf Prospectus

Fri, 02 Jul 2010 17:31:00 -0400

PDF of Press Release

TORONTO, July 2 /CNW/ - Further to its news release of June 11, 2010, Northgate Minerals Corporation (TSX: NGX, AMEX: NXG) has filed a final short form base shelf prospectus with the securities commissions in each of the provinces and territories of Canada, except Quebec, and a corresponding amendment to its shelf registration statement in the United States.

The final shelf prospectus will allow Northgate to make offerings of debt securities, common shares, warrants to purchase common shares and warrants to purchase debt securities, share purchase contracts, share purchase or equity units, subscription receipts, preference shares and units (all of the foregoing, collectively, the "Securities") or any combination thereof up to an aggregate offering size of Cdn$250,000,000 over a 25-month period. Securities may be offered separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of sale and set forth in an accompanying shelf prospectus supplement. The net proceeds from the sale of the Securities will be used to fund capital expenditures, development and construction expenditures, exploration activities, potential future acquisitions and for general corporate purposes.

The shelf registration statement relating to these Securities has been filed with the United States Securities and Exchange Commission but has not yet become effective. These Securities may not be sold nor may offers to buy be accepted prior to the time the shelf registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these Securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.

A copy of the base shelf prospectus, or the shelf registration statement, including the related prospectus, may be obtained from Keren Yun, Director of Investor Relations, at Northgate's address at 110 Yonge Street, Suite 1601, Toronto, Ontario, M5C 1T4, Canada.

Northgate Minerals Corporation is a gold and copper producer with mining operations, development projects and exploration properties in Canada and Australia.

%CIK: 0000072931

Northgate Minerals Receives Key Permit for the Development of the Young-Davidson Mine

Fri, 02 Jul 2010 07:04:00 -0400

PDF of Press Release

Construction Set to Begin in August

VANCOUVER, July 2 /CNW/ - (All figures in US dollars except where noted) Northgate Minerals Corporation ("Northgate") (TSX: NGX, NYSE Amex: NXG) is pleased to announce that it has received notice from the Ontario Ministry of Northern Development, Mines and Forestry ("MNDMF") of acceptance of the Closure Plan for the Young-Davidson Mining Project. Acceptance of the Closure Plan allows Northgate to commence construction and development of the Young-Davidson mine, which is forecast to produce an average of 180,000 ounces of gold per year at a cash cost of $350 per ounce over a 15-year mine life starting in 2012.

Ken Stowe, President and CEO, commented: "We are extremely pleased that our Closure Plan has been accepted by the MNDMF and we will be proceeding with construction of the Young-Davidson mine as soon as the appropriate resources have been mobilized. Young-Davidson is an important project for northern Ontario, providing significant economic and social benefits for the local and surrounding communities. We look forward to breaking ground in early August, with advanced preparatory work having positioned us well to achieve our key scheduled objectives. In addition to the work that is underway at site, our exploration team has already completed over 11,600 metres of diamond drilling this year and results to date indicate the strong potential for us to expand the current 2.8 million ounce reserve."

The Closure Plan sets out the framework for the development, operation and ultimate closure of the Young-Davidson mine and outlines the plans for rehabilitation of those areas affected by historic and future mining. Construction of the main process building for Young-Davidson is scheduled to commence in early August and the mill building is expected to be enclosed by the end of the year, so that construction of the process plant can continue during the winter months. Other projects scheduled to begin in the coming months are the deepening of the existing shaft, construction of the tailings impoundment area and the realignment of Highway 566.

Over $140 million of contracts for the development of the mine have already been awarded including the engineering, procurement and construction management ("EPCM") contract, the shaft deepening and raise boring contract and a contract for upgrading the existing 47 kilometre ("km") transmission line connecting Young-Davidson to the provincial grid. Additional contracts have been tendered and are currently being reviewed. Purchase orders have also been awarded for major, long lead equipment.

Northgate will provide a more detailed update on construction activities at Young-Davidson during its second quarter conference call and webcast that will be held on August 10, 2010.

Young-Davidson is located near the town of Matachewan, 60 km west of Kirkland Lake. Northgate completed its final feasibility study for Young-Davidson at the beginning of the year (see press release dated January 25, 2010), which confirmed that the mine provides strong returns in the current economic environment. Using today's spot prices, the mine is expected to generate $2.2 billion pre-tax operating cash flow, a pre-tax net present value 5% of $865 million and a pre-tax internal rate of return of 25%.

Cautionary Note Regarding Forward-Looking Statements and Information:

This Northgate press release contains "forward-looking information", as such term is defined in applicable Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, concerning Northgate's future financial or operating performance and other statements that express management's expectations or estimates of future developments, circumstances or results. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects", "believes", "anticipates", "budget", "scheduled", "estimates", "forecasts", "intends", "plans" and variations of such words and phrases, or by statements that certain actions, events or results "may", "will", "could", "would" or "might" "be taken", "occur" or "be achieved". Forward-looking information is based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which Northgate operates, are inherently subject to significant operational, economic and competitive uncertainties and contingencies. Northgate cautions that forward-looking information involves known and unknown risks, uncertainties and other factors that may cause Northgate's actual results, performance or achievements to be materially different from those expressed or implied by such information, including, but not limited to gold and copper price volatility; fluctuations in foreign exchange rates and interest rates; the impact of any hedging activities; discrepancies between actual and estimated production, between actual and estimated reserves and resources or between actual and estimated metallurgical recoveries; costs of production; capital expenditure requirements; the costs and timing of construction and development of new deposits; and the success of exploration and permitting activities. In addition, the factors described or referred to in the section entitled "Risk Factors" in Northgate's Annual Information Form for the year ended December 31, 2009 or under the heading "Risks and Uncertainties" in Northgate's 2009 Annual Report, both of which are available on the SEDAR website at www.sedar.com, should be reviewed in conjunction with the information found in this press release. Although Northgate has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in forward-looking information, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information in this press release is made as of the date of this press release, and Northgate disclaims any intention or obligation to update or revise such information, except as required by applicable law.

Cautionary Note to US Investors Regarding Mineral Reporting Standards:

Northgate prepares its disclosure in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Terms relating to mineral resources in this press release are defined in accordance with National Instrument 43-101-Standards of Disclosure for Mineral Projects under the guidelines set out in the Canadian Institute of Mining, Metallurgy, and Petroleum Standards on Mineral Resources and Mineral Reserves. The Securities and Exchange Commission (the "SEC") permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. The Company uses certain terms, such as, "measured mineral resources", "indicated mineral resources", "inferred mineral resources" and "probable mineral reserves", that the SEC does not recognize (these terms may be used in this press release and are included in the Company's public filings which have been filed with securities commissions or similar authorities in Canada).

Northgate Minerals to Renew Universal Base Shelf Prospectus

Fri, 11 Jun 2010 16:45:00 -0400

PDF of Release

VANCOUVER, June 11 /CNW/ - Northgate Minerals Corporation ("Northgate" or the "Company") (TSX: NGX, AMEX: NXG) announced today that it has filed a preliminary short form base shelf prospectus with securities regulatory authorities in Canada and a corresponding shelf registration statement with the United States Securities and Exchange Commission (SEC) on Form F-10. These filings have been made to renew Northgate's current short term base shelf prospectus which is set to expire on July 5, 2010.

Once the shelf prospectus is cleared and the shelf registration statement becomes effective, these filings will, subject to securities regulatory requirements, provide for the potential offering in selected Canadian provinces and the United States of up to an aggregate amount of Cdn$250,000,000 over the next 25 months. The terms of such future offerings, if any, will be established at the time of such offerings. At the time any of the securities covered by the shelf prospectus are offered for sale, a prospectus supplement containing specific information about the terms of any such offering will be provided.

The shelf registration statement filed today with the SEC relating to these securities has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualifications under the securities laws of any such jurisdiction.

A copy of the shelf registration statement, including the related prospectus, may be obtained from Keren Yun, Director of Investor Relations, at Northgate's address at 110 Yonge Street, Suite 1601, Toronto, Ontario, M5C 1T4, Canada.

* * * * * *

Northgate Minerals and Nevada Exploration Sign Formal Option Agreement on the Awakening Gold Project

Mon, 07 Jun 2010 08:30:00 -0400

PDF of Press Release

VANCOUVER, June 7 /CNW/ - (All figures in United States dollars) Northgate Minerals Corp. ("Northgate") (TSX: NGX, NYSE Amex: NXG) and Nevada Exploration Inc. ("NGE") (TSX-V:NGE) are pleased to announce the completion and execution of the definitive Exploration and Option to Enter Joint Venture Agreement ("Agreement") on NGE's Awakening Gold Project ("Property"), in Humboldt County, Nevada. The Agreement grants Northgate the option to earn an initial 51% interest in the Property by spending $4,100,000 in exploration and making additional payments totaling $436,000 over five years. Northgate's exploration commitment in the first year is $500,000. If Northgate completes the initial 51% earn-in, it may then earn an additional 14%, for a total of 65%, by completing a feasibility report on the Property.

Ken Stowe, Northgate's President and CEO, stated: "We are excited to commence exploration at the Awakening Gold Project, as this is our first foray into the Nevada region. The project lies in an area with a history of modest exploration activity and Nevada Exploration has done an excellent job in identifying several high priority targets analogous to mineralization seen in other areas of the Awakening mining district."

Wade Hodges, NGE's President and CEO: "We've used our groundwater chemistry exploration technology to identify a new project in a covered setting; we've used good conventional geology, geochemistry, and geophysics to advance the project and demonstrate its potential, and now we've leveraged this investment to engage Northgate, a well-funded and technically capable partner, to complete the next phases of work. This is a logical time for us to pass the torch at Awakening and to direct our resources towards advancing our other projects and continuing our target generating groundwater chemistry reconnaissance program. We are very pleased to partner with Northgate and look forward to developing a productive working relationship with Northgate's team."

Awakening Gold Project

The Awakening Gold Project consists of 420 claims (approximately 34km2) and is located 50km NNW of Winnemucca, Nevada, on the NW flank of the Slumbering Hills. The Property covers the NW portion of the historic Awakening mining district and adjoins the north end of the former producing Sleeper Gold Mine, which produced 1.7 million ounces of gold and 2.3 million ounces of silver.

The Property is largely covered by a thin veneer of alluvium, and as a result, has seen little historic exploration activity. In 2005, NGE's regional groundwater chemistry reconnaissance program identified anomalous levels of gold and other trace metals in the groundwater north of the Sleeper Mine. In 2008 and 2009, NGE completed detailed gravity geophysics, air magnetic geophysics, and soil geochemistry across the Property. The combined exploration dataset has identified several high priority targets analogous to the geologic units controlling the mineralization at the Sleeper Gold Mine.

Prior to its first drill program in early 2011, Northgate anticipates that it will carry out an induced polarization survey as well as additional soil and water geochemical sampling to further define drill targets.

Further information on the Awakening Gold Project can be found under the Exploration section on Northgate's website at www.northgateminerals.com.

Nevada Exploration Inc. is an exploration company focused on gold in Nevada. NGE has developed proprietary groundwater chemistry exploration technology to explore for gold in Nevada's covered basins where traditional exploration techniques are challenged, and has completed the first ever comprehensive survey of Nevada's groundwater focused on discovering new gold deposits. NGE has demonstrated that Nevada's gold deposits exhibit recognizable and measurable groundwater chemistry signatures and NGE is using its proprietary technology to identify, acquire, and advance new exploration properties exhibiting groundwater chemistry similar to known gold mines.

Wade A. Hodges, President & CEO, Nevada Exploration Inc., is the Qualified Person, as defined in National Instrument 43-101, and has prepared the technical and scientific information contained in this News Release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements and Information:

Cautionary Note to US Investors Regarding Mineral Reporting Standards:

Northgate prepares its disclosure in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Terms relating to mineral resources in this press release are defined in accordance with National Instrument 43-101-Standards of Disclosure for Mineral Projects under the guidelines set out in the Canadian Institute of Mining, Metallurgy, and Petroleum Standards on Mineral Resources and Mineral Reserves. The Securities and Exchange Commission (the "SEC") permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. The Company uses certain terms, such as, "measured mineral resources" "indicated mineral resources", "inferred mineral resources" and "probable mineral reserves", that the SEC does not recognize (these terms may be used in this press release and are included in the Company's public filings which have been filed with securities commissions or similar authorities in Canada).

Mine Trainees Strike Gold

Sat, 29 May 2010 09:00:00 -0400

From L-R are: (front) Willie Cowie, Melissa Gilbert, Anne Batisse, Elder Marie Boucher, Jason Batise, Linda Collins and James Reed,
(second row) Joe Wojtus, Tom Wadey, Ray Durham, Rene Boucher, Jason Batisse, Daniel Denomme, Patrick Denomme, Paul Collins, Joe Evans and Peter Barber.

Photo credit: Xavier Kataquapit

Xavier Kataquapit
The Timmins Daily Press
Sat May 29 2010

A partnership with Northgate Minerals Corp. has borne fruit for some young Matachewan First Nation members.

Five graduates of the Underground Miner Training from the First Nation will head for work at the Young Davidson Mine.

The announcement of their employment made at a graduation ceremony held at Matachewan First Nation Thursday.

This is the first group of a partnership program under the Matachewan Aboriginal Access to Mine Jobs Training Strategy (MAATS) where trainees on graduation were hired by the Young Davidson mine. It is also the first time the mine has hired a female underground miner.

"This is one of my dreams come true actually, as I have wanted to work in a mine since I was about 12 years old," said 18-year-old Melissa Gilbert of Matachewan First Nation.

"People didn't think girls did things like this. I am really grateful to the leadership of Matachewan First Nation and Northgate Minerals for giving me this opportunity. I am so proud to be the first underground female miner to be working at Northgate."

The other four graduates are Jason Batisse, Rene Boucher, Daniel Denomme and Patrick Denomme, all Matachewan First Nation members.

Elder Marie Boucher, who did the opening prayer was happy to see her grandson Rene among the graduates.

The program provided hands-on experience by trainer Willie Cowie of Matachewan First Nation, Northgate Minerals management and Dumas contracting personnel.

The graduates participated in this mining career program in preparation for employment at the Young Davidson Mine. The new mining development will provide jobs for 600 people during the two-year construction period and long-term employment for 275 individuals over the 15-year life of the mine. The company is aiming to commission the Young Davidson mine and start gold production in 2012.

During mine development, the company worked closely with the various surrounding communities and in July 2009 signed an Impact and Benefits Agreement (IBA) with Matachewan First Nation, a member community of Wabun Tribal Council.

Co-operation and partnership involving Northgate, Wabun First Nations, the federal and provincial government provided a multimillion dollar training program for Aboriginal people.

Anne Batisse, MAATS executive director, said "I am so proud of all of graduates today and I thank the management at Northgate Minerals, our chief and council, Human Resources Skills Development Canada, our trainer and Wabun Tribal Council for making this day possible.

"Everyone put out a big effort and in particular Melissa Gilbert who was determined from the start to succeed in this program."

Tom Wadey, Project Manager/Mining with Northgate Minerals Corp., said, "This was a very positive experience for these young graduates and everyone involved. This mine will have a long life and we are hoping that these graduates will excel and move up the ladder and who knows maybe one of them will have my job some day."

Jason Batise, chairman of the MAATS and representative of Wabun Tribal Council, has been following the development of partnerships between Matachewan First Nation and Northgate Minerals from the very beginning of the mine development.

"On behalf of the board of directors of MAATS, I want to congratulate all of our Matachewan First Nation graduates here today," Batise said. "In my 20 years in being involved in all kinds of training programs, this is the first time ever that I see our trainees graduating and going right into employment. This is just the tip of the iceberg and I look forward to watching many more of our young people being trained and finding employment at the local mine in the future."

The event, which was organized by Gail Brubacher, Northgate's First Nation partnership co-ordinator, featured retired school teacher James Reed as a guest speaker. Reed is well known by the Matachewan First Nation membership as he taught elementary school aged children for decades.

Paul Collins, IBA co-ordinator for Matachewan First Nation was on hand to welcome everyone to the graduation. He was there as a representative of Chief Richard Wincikaby who could not attend the event.

The Underground Miner Training was part of MAATS, a $4-million initiative that was announced on Feb. 13, 2009 by Human Resources and Skills Development Canada as a three-year partnership strategy. The strategy is supported primarily by HRSDC under the Aboriginal Skills and Employment Partnership program.

© 2010 Osprey Media Group Inc

Northgate Minerals Reports Solid First Quarter Results

Tue, 11 May 2010 07:23:00 -0400

PDF of Press Release

Q1 2010 Interim Report

Construction at Young-Davidson Scheduled to Begin this Summer

Notice: Conference Call and Webcast of Annual and Special Meeting and Q1 Results Today at 10:00 am ET
Dial in: +647-427-7450 or 1-888-231-8191

VANCOUVER, May 11 /CNW/ - (All figures in US dollars except where noted) - Northgate Minerals Corporation ("Northgate" or the "Corporation") (TSX: NGX; NYSE Amex: NXG) today announced its financial and operating results for the first quarter ended March 31, 2010.

    <<
                           First Quarter Highlights

    -   Generated strong cash flow from operations of $16.3 million or
        $0.06 per diluted share.

    -   Reported adjusted net earnings(1) of $7.3 million or $0.03 per share.

    -   Produced 73,362 ounces of gold and 9.5 million pounds of copper at an
        average net cash cost of $654 per ounce of gold.

    -   Sold 75,128 ounces of gold at a realized price of $1,128 per ounce
        and 11.1 million pounds of copper at a realized price of $3.49 per
        pound.

    -   At Young-Davidson, we appointed AMEC Americas Limited ("AMEC") as the
        engineering, procurement, construction management ("EPCM") contractor
        and awarded a shaft development contract to Cementation Canada Inc
        ("Cementation"). Construction at Young-Davidson is scheduled to begin
        this summer.

    -   Successful exploration results during the quarter:

        -  Drilling at Fosterville, south of the Phoenix Reserve block, has
           intersected 6.3 metres ("m") of 12.2 grams per tonne ("g/t") gold
           on section 6900N and 5.1m of 6.5 g/t gold on section 6950N,
           potentially extending the Phoenix Extension zone another
           150 metres south along strike and down plunge.

        -  At Young-Davidson, drilling on the high-grade mafic volcanic gold
           mineralization around old workings just east of the current
           deposit continues to show promising results for additional open
           pit resources and reserves. Highlight holes include:

           -  Hole 160: intersected a core length of 17.2m of 5.29 g/t
           -  Hole 174: intersected a core length of 18.0m of 4.35 g/t.

    -   Identified a high-grade zone of at least 70 million tonnes within the
        Kemess North Deposit that could potentially support an underground
        block cave operation ("Kemess Underground").

        -  $3 million infill diamond drill program to commence this summer to
           increase the confidence in the high-grade zone and confirm
           geotechnical conditions.

    (1) Adjusted net earnings is a non-GAAP measure. See section entitled
        "Non-GAAP Measures" in the Corporation's fourth quarter MD&A Report.
    >>

Ken Stowe, President and CEO, stated: "We are pleased to report solid first quarter production from our three operating mines of 73,362 ounces of gold, highlighted by production at Stawell and Kemess South, which both met their production forecasts. We also continued to generate strong cash flow from operations of $16.3 million, following on the record annual cash flow generated in 2009. On the exploration front, our aggressive $21 million budget has already started to show promising results. At Fosterville, drilling south of the Phoenix Reserve should extend the zone another 150 metres. Work will continue into the second quarter with the focus of integrating the new drill data into a reserve and resource model. Drilling will also continue on the 'Big Fish' targets at Stawell, where work is currently underway in the Northgate Gift, a fault offset trend of the Magdala orebody, amongst other prospective targets. At Young-Davidson, we will wrap up a near-surface diamond drill program, where results to date have indicated the potential to add to current open pit reserves, which would have a positive impact on the early years of operating the mine. We also look forward to breaking ground on the property, as construction is scheduled to begin this summer. Finally, a $3 million drill program at Kemess Underground will also take place this summer after we identified an initial 70 million tonne high-grade zone within the Kemess North Deposit. Although more work is required to increase the confidence in the high-grade resource and determine the boundary of the high-grade zone, an initial review indicates the potential to support an underground block cave operation at the Kemess Camp."

Financial Performance
Northgate recorded consolidated revenue of $125.3 million in the first quarter of 2010, compared with revenue of $123.8 million recorded in the same period last year. Revenues were slightly higher in the first quarter of 2010 as a result of higher realized metal prices for both gold and copper.

Adjusted net earnings for the first quarter were $7.3 million or $0.03 per share, compared to adjusted net earnings of $27.3 million or $0.11 per share reported in the same quarter last year. Adjusted net earnings do not include certain non-cash items from its calculation of net earnings prepared in accordance with Canadian generally accepted accounting principles ("Canadian GAAP"). Northgate has prepared this figure as it may be a useful indicator to investors. Net earnings for the first quarter of 2010 were $4.9 million or $0.02 per share, compared with net earnings of $21.4 million or $0.08 per share in the first quarter of 2009.

Northgate continued to generate strong cash flow from operations of $16.3 million or $0.06 per share in the first quarter of 2010, following on the record cash flow of $187.2 million generated last year. During the quarter, Northgate made a Canadian income tax payment in the amount of Cdn$28.0 million. Cash flow from operations in the first quarter of 2009 totalled $45.2 million or $0.18 per share.

Northgate continues to maintain a strong balance sheet, with cash and cash equivalents totalling $230.3 million at the end of the first quarter 2010.

Results from Operations

Fosterville Gold Mine
During the first quarter of 2010, a total of 180,505 tonnes of ore were mined and mine development advanced 2,239m, which represents a 9% and 18% improvement over the 165,355 tonnes and mine development advance of 1,900m in the same period last year. Mining rates have improved due to an increase in the number of working faces made available within the Phoenix and Ellesmere orebodies and by the substantial mine development achieved since Northgate took ownership of the mine.

Also during the quarter, 191,663 tonnes of ore were milled at a grade of 5.11 g/t compared with 167,924 tonnes milled at a grade of 5.53 g/t in the corresponding quarter of 2009.

Fosterville achieved production of 26,421 ounces of gold in first quarter of 2010, following on the record set in the previous quarter of 26,615 ounces. Production in the first quarter of 2010 was slightly higher than the 25,779 ounces recorded in the same period last year.

The average net cash cost of production for the first quarter of 2010 was $679 per ounce, which was 5% lower than the $720 per ounce recorded in the previous quarter. The net cash cost of production in the first quarter of 2009 was $430 per ounce. Cash costs have increased year-over-year as a result of the stronger Australian dollar relative to the US dollar, which averaged over 36% higher in the most recent quarter.

In 2010, Fosterville is expected to produce 108,000 ounces of gold at a net cash cost of $689 per ounce.

Stawell Gold Mine
Record quarterly ore production continues to be achieved at Stawell, as 196,725 and 206,007 tonnes of ore were mined and milled, respectively, in the first quarter of 2010. This represents a significant improvement over the 154,718 and 180,199 tonnes of ore mined and milled in the corresponding quarter of 2009. Gold recoveries of 87% were in line in the first quarter of 2010.

Underground mine development continued in the Golden Gift (GG) production zones, GG3 and GG6, as well as the Magdala area during the quarter and the development advance totalled 1,892m compared to the 1,407m development advance in the corresponding quarter of 2009.

Gold production during the first quarter of 2010 was in line with forecast of 22,238 ounces, compared to the 22,392 ounces of gold production in the corresponding quarter of 2009. The net cash cost of production for the first quarter of 2010 was $794 per ounce of gold, which was higher than the cash cost of $432 per ounce of gold recorded in the same period last year. Cash costs have increased year-over-year as a result of the stronger Australian dollar relative to the US dollar previously mentioned. In 2010, Stawell is forecast to produce 99,500 ounces of gold at a net cash cost of $633 per ounce.

Kemess South
During the quarter, Kemess South posted gold production of 24,703 ounces, which was in line with forecast. While copper production of 9.5 million pounds was slightly under forecast due to lower than planned mill throughput, the annual copper forecast remains unchanged as grades and recoveries are expected to improve in the second half of the year. The net cash cost of production for the first quarter of 2010 was $502 per ounce, which was lower than forecast. For the full year 2010, the net cash cost is expected to drop to approximately $300 per ounce, as copper production is expected to increase in the second half of the year, which will increase the by-product credit.

During the first quarter of 2010, approximately 10.5 million tonnes of ore and waste were removed from the eastern end of the open pit compared to 6.8 million tonnes during the corresponding quarter of 2009. The higher tonnes moved in the most recent quarter resulted in significantly lower unit mining costs of Cdn$1.11 per tonne moved compared with Cdn$2.30 per tonne moved in the first quarter of 2009.

Mill throughput and mill availability during the first quarter of 2010 were 51,030 tonnes per day (tpd) and 92%, respectively, which was an improvement over the performance in the first quarter of 2009 of 47,913 tpd and 91%.

2010 Production Forecast
Northgate's production forecast for the balance of 2010 is outlined in the following table:

    <<
                       ------------------------------------------------------
                         Actual                                     Forecast
                        (ounces)      Forecast (ounces)               2010
                       -----------------------------------   Total  Cash Cost
                           Q1       Q2       Q3       Q4   (ounces) ($/oz)(1)
    -------------------------------------------------------------------------
    Fosterville         26,421   28,500   26,500   26,500  108,000      $689
    Stawell             22,238   21,250   27,250   28,750   99,500      $665
    Kemess              24,703   23,000   26,500   28,500  102,500      $301
    -------------------------------------------------------------------------
                        73,362   72,750   80,250   83,750  310,000      $553
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    (1) Assuming copper price of $3.20/lb and exchange rates of US$/Cdn$0.97
        and US$/A$0.92 for Q2 to Q4 2010.
    >>

Moving Ahead with Young-Davidson
In January, Northgate released positive results from its feasibility study for the Young-Davidson project and, based on these results, received approval from its Board of Directors to develop the mine. During the quarter, substantial progress was made as follows:

    <<
    -   Environmental and permitting activities continued throughout the
        quarter and Northgate received notice that the first of several key
        permits, the Air and Noise Certificate of Approval, had been
        approved.

    -   AMEC was appointed as the EPCM contractor and detailed engineering on
        the project commenced early in the quarter.

    -   A contract with Cementation was recently signed for the shaft
        infrastructure engineering, the deepening of the existing shaft, and
        raise boring of a new 5.5m diameter production shaft.

    -   Hydro One has completed the Environmental Assessment process for
        upgrading the 47 kilometres (km) of the 115 kilovolts (kV)
        transmission line connecting Young-Davidson to the provincial grid.
        Preparation of the refurbishment project is expected to begin
        shortly.

    -   Northgate has hired key members of its owner's team at Young-Davidson
        and is readying the site infrastructure that is necessary to support
        construction and development activities.

    -   A ceremony commemorating the Board's approval to develop the mine was
        held on March 4, 2010 in Matachewan, with dignitaries, business
        representatives and members of the immediate and surrounding
        communities in attendance.

    -   Ramp construction and existing shaft refurbishment activities
        continued with the ramp reaching a vertical depth of 524m by quarter
        end.
    >>

During the second quarter of 2010, the Young-Davidson site will convert to owner ramp development and engineering and permitting activities are expected to have advanced to the point where construction of surface facilities can begin this summer.

Exploration Update

Fosterville Gold Mine
During the first quarter, four drills were active primarily on the Phoenix Extension and Harrier Underground zones. Drilling on the Phoenix Extension was undertaken in order to extend reserves in the Phoenix deposit. Drilling highlights include Hole 526C in Section 6900N, which intersected 12.2 g/t gold over 6.3m and Hole 527C in Section 6950, which intersected 6.5 g/t over 5.1m (near to true thicknesses). Based on the assay results received to date, it appears that the Phoenix Extension zone continues at least another 150m down plunge. Work in the second quarter will focus on integrating the drill data into a resource and reserve model.

Figure 1: Longitudinal Projection of the Fosterville Gold Mine: Phoenix Extension
Click HERE to view Figure 1

In the Harrier Underground zone, work on the north sector continued where there is good potential to increase the existing Harrier Underground reserve. Ten holes have been completed year-to-date and have returned strong grades over minable widths, demonstrating that this zone is consistent and predictable. Drilling is expected to continue throughout the second and third quarter.

Other exploration at Fosterville has included geophysical and geochemical surveys both on and off the mine lease in preparation for drill testing later in the year.

Stawell Gold Mine
Exploration at Stawell has continued with a mix of early stage exploration targets, such as Commercial Road and Pleasant Creek (historic alluvial producing areas), and Germania (historic high-grade hard rock production). Exploration also includes targets within and adjacent to the mine lease, such as North Magdala, currently in a data compilation and analysis phase, and Northgate Gift, with a long hole in progress exploring for a fault offset portion of the Magdala orebody under the Wildcat Porphyry, a late structure against which the Magdala orebody is offset.

Results and/or completion of these programs are expected in the next several months, as well as substantial progress on in-mine exploration programs, such as the Infill drilling on Lower GG6 and Above Scotchman's Fault, as diamond drill platforms become available within the mine workings.

Young-Davidson
Drilling around old workings east of the current open pit reserves continues to show promising results for additional open pit resources and reserves. Highlight holes include Hole 160 that intersected a core length of 17.2m (true thickness estimated to be 11.7m) of 5.29 g/t and Hole 174 that intersected a core length of 18m (true thickness estimated to be 14.9m) of 4.35 g/t gold. To date, 31 holes totalling 1,901m have been drilled in this area. A summary of assay results are shown in Tables 1 and 2 below. The drill program will be completed this summer.

Figure 2: Longitudinal Projection of Young-Davidson Property - Near Surface Holes
Click HERE to view Figure 2

    <<
    Table 1 - Select Young-Davidson Surface Holes from 2010 Drilling Program

    -------------------------------------------------------------------------
                                                              Gold Grade
                                                         --------------------
                                            Core Length    Uncut      Cut to
    Hole ID         From (m)      To (m)       (m)         (g/t)     20 (g/t)
    -------------------------------------------------------------------------
    YD09-160          9.0          26.2        17.2         5.29        5.06
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    YD09-174          7.2           9.0         1.8         6.79        6.79
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    (True thicknesses estimated to be 70-90% of core length)

    Table 2 -Young-Davidson Surface Holes from the 2009 Drilling Program

    -------------------------------------------------------------------------
                                                              Gold Grade
                                                         --------------------
                                            Core Length    Uncut      Cut to
    Hole ID         From (m)      To (m)       (m)         (g/t)     20 (g/t)
    -------------------------------------------------------------------------
    YD09-138         30.6          33.6         3.0         3.04        3.04
    -------------------------------------------------------------------------
                     53.5          58.5         5.0        12.84       12.75
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    YD09-139         69.3          72.0         2.7        16.83       13.86
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    YD09-140         13.5          21.0         7.5         2.95        2.95
    -------------------------------------------------------------------------
                     64.5          93.5        29.0         2.34        2.34
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    YD09-141         58.5          67.0         8.5         4.14        4.14
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    YD09-142         31.5          36.0         4.5         2.48        2.48
    -------------------------------------------------------------------------
                     94.0         126.0        32.0         1.95        1.95
    -------------------------------------------------------------------------
    Incl.            94.0         102.7         8.7         3.46        3.46
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
                                                                   Gold Grade
                                           Core Length  Gold Grade   Cut to
    Hole ID        From (m)       To (m)       (m)      Uncut (g/t)  20 (g/t)
    -------------------------------------------------------------------------
    YD09-143         30.4          33.4         3.0         1.33        1.33
    -------------------------------------------------------------------------
                     45.4          48.0         2.6         3.57        3.57
    -------------------------------------------------------------------------
                     58.5          60.0         1.5         3.10        3.10
    -------------------------------------------------------------------------
                     75.0          76.9         1.9         2.15        2.15
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    YD09-144          8.0          14.0         6.0         4.33        4.33
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    (True thicknesses estimated to be 70-90% of core length)
    >>

Kemess Underground
During the quarter, Northgate commissioned an international engineering firm to assess the economic prospects of mining part of the Kemess North deposit using an underground block caving method. An initial review of the existing Kemess North resource model was carried out to identify the higher grade zone that could support an underground block cave operation ("Kemess Underground"). A target zone of at least 70 million tonnes of mineralization containing 1.4 million ounces of gold and 500 million pounds of copper was identified in the eastern part of the Kemess North deposit from 300m - 600m below surface.

At the time of the original Kemess North feasibility study in 2005, the geological and geotechnical information relating to the Kemess North deposit was collected and analyzed on the assumption that the deposit would be mined as a large low-grade open pit. In order to develop a more detailed block caving model, additional resource definition drilling is required to enable a greater degree of confidence in the potential of the high-grade resource, to determine the boundary of the high-grade zone and to confirm the geotechnical conditions necessary to support block caving. An exploration budget of $3 million has been approved and diamond drilling is scheduled to commence this summer.

    <<
    Summarized Consolidated Results

    (Thousands of US dollars, except where noted)     Q1 2010        Q1 2009
    -------------------------------------------------------------------------
    Financial Data
    Revenue                                      $    125,278   $    123,818
    Adjusted net earnings(1)                            7,341         27,313
      Per share (diluted)                                0.03           0.11
    Net earnings                                        4,937         21,410
      Per share (diluted)                                0.02           0.08
    Cash flow from operations                          16,283         45,202
    Cash and cash equivalents                         230,306         88,379
    Total assets                                 $    728,158   $    593,322
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Operating Data
    Gold production (ounces)
      Fosterville                                      26,421         25,779
      Stawell                                          22,238         22,392
      Kemess                                           24,703         59,306
                                                 ----------------------------
      Total gold production                            73,362        107,477
                                                 ----------------------------
    Gold sales (ounces)
      Fosterville                                      25,944         26,363
      Stawell                                          21,411         24,635
      Kemess                                           27,773         55,686
                                                 ----------------------------
      Total gold sales                                 75,128        106,684
                                                 ----------------------------
    Realized gold price ($/ounce)(2)                    1,128            934
                                                 ----------------------------
    Net cash cost ($/ounce)(3)
      Fosterville                                         679            430
      Stawell                                             794            432
      Kemess                                              502            367
                                                 ----------------------------
    Average net cash cost ($/ounce)                       654            396
                                                 ----------------------------
    Copper production (thousands pounds)                9,529         15,007
    Copper sales (thousands pounds)                    11,145         13,032
    Realized copper price ($/pound)(2)                   3.49           2.07
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    (1) Adjusted net earnings is a non-GAAP measure. See section entitled
        "Non-GAAP Measures" in the Corporation's first quarter MD&A Report.
    (2) Metal pricing quotational period for Kemess is three months after the
        month of arrival (MAMA) at the smelting facility for copper and gold.
        Therefore, realized prices reported will differ from the average
        quarterly reference prices, since realized price calculations
        incorporate the actual settlement price for prior period sales, as
        well as the forward price profiles of both metals for unpriced sales
        at the end of the quarter.
    (3) Net cash cost per ounce of production is a non-GAAP measure. See
        section entitled "Non-GAAP Measures" in the Corporation's first
        quarter MD&A Report.



    Interim Consolidated Balance Sheets

                                                     March 31    December 31
    Thousands of US dollars                              2010           2009
    -------------------------------------------------------------------------
                                                   (Unaudited)

    Assets
    Current Assets
    Cash and cash equivalents                    $    230,306   $    253,544
    Trade and other receivables                        24,837         27,961
    Inventories (note 3)                               39,632         44,599
    Prepaids                                            3,533          2,566
    Future income tax asset                             5,661          5,541
    -------------------------------------------------------------------------
                                                      303,969        334,211
    Other assets                                       38,022         27,544
    Future income tax asset                            11,935         14,507
    Mineral property, plant and equipment             337,097        327,416
    Investments (note 4)                               37,135         38,001
    -------------------------------------------------------------------------
                                                 $    728,158   $    741,679
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    Liabilities and Shareholders' Equity
    Current Liabilities
    Accounts payable and accrued liabilities     $     68,734   $     59,132
    Income taxes payable                                1,291         29,395
    Short-term loan (note 5)                           41,137         41,515
    Capital lease obligations                           6,673          5,995
    Provision for site closure and reclamation
     costs                                             23,846         23,501
    Future income tax liability                           893            867
    -------------------------------------------------------------------------
                                                      142,574        160,405
    Capital lease obligations                           4,239          4,656
    Other long-term liabilities                         3,329          8,995
    Provision for site closure and reclamation
     obligations                                       22,503         23,989
    -------------------------------------------------------------------------
                                                      172,645        198,045

    Shareholders' Equity
    Common shares                                     403,217        402,879
    Contributed surplus                                 7,526          6,202
    Accumulated other comprehensive income (loss)       1,575         (3,705)
    Retained earnings                                 143,195        138,258
    -------------------------------------------------------------------------
                                                      555,513        543,634
    -------------------------------------------------------------------------
                                                 $    728,158   $    741,679
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    The accompanying notes form an integral part of these unaudited interim
    consolidated financial statements.



    Interim Consolidated Statements of Operations and Comprehensive Income

                                                 Three Months Ended March 31
    Thousands of US dollars, except share and
     per share amounts, unaudited                        2010           2009
    -------------------------------------------------------------------------

    Revenue                                      $    125,278   $    123,818
    -------------------------------------------------------------------------
    Cost of sales (note 3)                             84,544         59,318
    Depreciation and depletion                         27,312         23,497
    Administrative and general                          3,839          2,282
    Net interest income                                  (454)          (380)
    Exploration                                         4,127          3,249
    Currency translation loss (gain)                   (3,399)         2,581
    Accretion of site closure and reclamation
     costs                                                414            722
    Write-down of investments (note 4)                    340              -
    Other expenses (income)                               249           (666)
    -------------------------------------------------------------------------
                                                      116,972         90,603
    -------------------------------------------------------------------------
    Earnings before income taxes                        8,306         33,215
    Income tax recovery (expense)
      Current                                            (477)       (22,853)
      Future                                           (2,892)        11,048
    -------------------------------------------------------------------------
                                                       (3,369)       (11,805)
    -------------------------------------------------------------------------
    Net earnings for the period                         4,937         21,410

    Other comprehensive income (loss)
      Unrealized loss on available for sale
       securities                                        (866)        (2,486)
      Unrealized gain (loss) on translation of
       self-sustaining operations                       5,806         (3,968)
      Reclassification of other than temporary
       loss on available for sale investments to
       net earnings                                       340              -
    -------------------------------------------------------------------------
                                                        5,280         (6,454)
    -------------------------------------------------------------------------
    Comprehensive income                         $     10,217   $     14,956
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Net earnings per share
      Basic                                      $       0.02   $       0.08
      Diluted                                            0.02           0.08

    Weighted average shares outstanding
      Basic                                       290,718,756    255,753,359
      Diluted                                     292,005,260    255,762,702
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    The accompanying notes form an integral part of these unaudited interim
    consolidated financial statements.



    Interim Consolidated Statements of Cash Flows

                                                 Three Months Ended March 31
    Thousands of US dollars, unaudited                   2010           2009
    -------------------------------------------------------------------------
    Operating activities:
      Net earnings for the period                $      4,937   $     21,410
    Non-cash items:
      Depreciation and depletion                       27,312         23,497
      Unrealized currency translation losses
       (gains)                                            570         (1,124)
      Accretion of site closure and reclamation
       costs                                              414            722
      Loss on disposal of assets                          333             70
      Amortization of deferred charges                      -             54
      Stock-based compensation                          1,439            439
      Accrual of employee severance costs                 438            655
      Future income tax expense (recovery)              2,892        (11,048)
      Change in fair value of forward contracts         2,894          8,433
      Write-down of investments                           340              -
    Changes in operating working capital and
     other (note 10)                                  (25,286)         2,094
    -------------------------------------------------------------------------
                                                       16,283         45,202
    -------------------------------------------------------------------------
    Investing activities:
    Release of restricted cash                            163              -
    Increase in restricted cash                       (10,042)           (72)
    Purchase of plant and equipment                    (9,111)        (9,740)
    Mineral property development                      (19,277)        (7,839)
    Proceeds from sale of equipment                       251             72
    -------------------------------------------------------------------------
                                                      (38,016)       (17,579)
    -------------------------------------------------------------------------
    Financing activities:
    Repayment of capital lease obligations             (1,514)        (1,112)
    Repayment of short-term loan                         (378)          (617)
    Repayment of other long-term liabilities             (217)          (151)
    Issuance of common shares                             223             86
    -------------------------------------------------------------------------
                                                       (1,886)        (1,794)
    -------------------------------------------------------------------------
    Effect of exchange rate changes on cash and
     cash equivalents                                     381            131
    -------------------------------------------------------------------------
    Increase (decrease) in cash and cash
     equivalents                                      (23,238)        25,960
    Cash and cash equivalents, beginning of
     period                                           253,544         62,419
    -------------------------------------------------------------------------
    Cash and cash equivalents, end of period     $    230,306   $     88,379
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Supplementary cash flow information (note 10)

    The accompanying notes form an integral part of these unaudited interim
    consolidated financial statements.



    Interim Consolidated Statement of Shareholders' Equity

                                       Number of        Common
    Thousands of US dollars, except       Common        Shares   Contributed
     common shares, unaudited             Shares        Amount       Surplus
    -------------------------------------------------------------------------
    Balance at December 31, 2008     255,717,071     $ 311,908     $   5,269

      Shares issued under new equity
       offering                       34,300,000        89,306             -

      Shares issued under
       employee share purchase plan      306,715           422             -

      Shares issued on exercise of
       options                           364,600         1,030          (321)

      Stock-based compensation                 -           213         1,254

      Net loss                                 -             -             -

      Other comprehensive income               -             -             -
    -------------------------------------------------------------------------

    Balance at December 31, 2009     290,688,386       402,879         6,202

      Shares issued under
       employee share purchase plan       60,479           111             -

      Shares issued on exercise of
       options                            74,800           171           (59)

      Stock-based compensation                 -            56         1,383

      Net earnings                             -             -             -

      Other comprehensive income               -             -             -
    -------------------------------------------------------------------------

    Balance at March 31, 2010        290,823,665     $ 403,217     $   7,526
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

                                     Accumulated
                                    Other Compre-
    Thousands of US dollars, except      hensive      Retained
     common shares, unaudited       Income (loss)     Earnings         Total
    -------------------------------------------------------------------------
    Balance at December 31, 2008       $ (89,503)    $ 187,764     $ 415,438

      Shares issued under new equity
       offering                                -             -        89,306

      Shares issued under
       employee share purchase plan            -             -           422

      Shares issued on exercise of
       options                                 -             -           709

      Stock-based compensation                 -             -         1,467

      Net loss                                 -       (49,506)      (49,506)

      Other comprehensive income          85,798             -        85,798
    -------------------------------------------------------------------------

    Balance at December 31, 2009          (3,705)      138,258       543,634

      Shares issued under
       employee share purchase plan            -             -           111

      Shares issued on exercise of
       options                                 -             -           112

      Stock-based compensation                 -             -         1,439

      Net earnings                             -         4,937         4,937

      Other comprehensive income           5,280             -         5,280
    -------------------------------------------------------------------------

    Balance at March 31, 2010          $   1,575     $ 143,195     $ 555,513
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    The accompanying notes form an integral part of these interim
    consolidated financial statements.

    >>

This press release should be read in conjunction with the Corporation's first quarter MD&A report and accompanying unaudited interim consolidated financial statements, which can be found on Northgate's website at www.northgateminerals.com, in the "Investor Info" section, under "Financial Reports - Quarterly Reports".

Annual General and Special Meeting and Q1 2010 First Quarter Result Conference Call and Webcast
Northgate will be hosting its Annual General and Special Meeting ("AGM") on Tuesday, May 11, 2010 at 10:00 am, Toronto time. The AGM will be held at The Suites at One King West, King Gallery, 1 King Street West, Toronto, Canada. This event will also include an overview of Northgate's 2010 first quarter financial results.

You may participate in our conference call by calling 647-427-7450 or toll free in North America at 1-888-231-8191. To ensure your participation, please call five minutes prior to the scheduled start of the call.

A live audio webcast and presentation package will be available on Northgate's homepage at www.northgateminerals.com. Information pertaining to the conference replay, available from May 11 to May 25, 2010, can also be found on our website.

Qualified Person
The program design, implementation, quality assurance/quality control and interpretation of the results are under the control of Northgate's geological staff, which includes a number of individuals who are qualified persons as defined under NI 43-101. Carl Edmunds, PGeo, Northgate's Exploration Manager, has reviewed the geologic contents of this release.

Cautionary Note Regarding Forward-Looking Statements and Information:
This Northgate press release contains "forward-looking information", as such term is defined in applicable Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, concerning Northgate's future financial or operating performance and other statements that express management's expectations or estimates of future developments, circumstances or results. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects", "believes", "anticipates", "budget", "scheduled", "estimates", "forecasts", "intends", "plans" and variations of such words and phrases, or by statements that certain actions, events or results "may", "will", "could", "would" or "might" "be taken", "occur" or "be achieved". Forward-looking information is based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which Northgate operates, are inherently subject to significant operational, economic and competitive uncertainties and contingencies. Northgate cautions that forward-looking information involves known and unknown risks, uncertainties and other factors that may cause Northgate's actual results, performance or achievements to be materially different from those expressed or implied by such information, including, but not limited to gold and copper price volatility; fluctuations in foreign exchange rates and interest rates; the impact of any hedging activities; discrepancies between actual and estimated production, between actual and estimated reserves and resources or between actual and estimated metallurgical recoveries; costs of production; capital expenditure requirements; the costs and timing of construction and development of new deposits; and the success of exploration and permitting activities. In addition, the factors described or referred to in the section entitled "Risk Factors" in Northgate's Annual Information Form for the year ended December 31, 2009 or under the heading "Risks and Uncertainties" in Northgate's 2009 Annual Report, both of which are available on the SEDAR website at www.sedar.com, should be reviewed in conjunction with the information found in this press release. Although Northgate has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in forward-looking information, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information in this press release is made as of the date of this press release, and Northgate disclaims any intention or obligation to update or revise such information, except as required by applicable law.

Cautionary Note to US Investors Regarding Mineral Reporting Standards:
The Company prepares its disclosure in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Terms relating to mineral resources in this press release are defined in accordance with National Instrument 43-101-Standards of Disclosure for Mineral Projects under the guidelines set out in the Canadian Institute of Mining, Metallurgy, and Petroleum Standards on Mineral Resources and Mineral Reserves. The Securities and Exchange Commission (the "SEC") permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. The Company uses certain terms, such as, "measured mineral resources" "indicated mineral resources", "inferred mineral resources" and "probable mineral reserves", that the SEC does not recognize (these terms may be used in this press release and are included in the Company's public filings which have been filed with securities commissions or similar authorities in Canada).

%CIK: 0000072931

Northgate Minerals Announces Details for Annual General and Special Meeting and 2010 First Quarter Results

Thu, 08 Apr 2010 16:45:00 -0400

PDF of Press Release

VANCOUVER, April 8 /CNW/ - Northgate Minerals Corporation (TSX: NGX, NYSE Amex: NXG) announced today that it will host its Annual General and Special Meeting ("AGM") on Tuesday, May 11, 2010 at 10:00 am, Toronto time. The AGM will be held at One King West Hotel, King Gallery Ballroom, 1 King Street West, Toronto, Canada.

This event will also include an overview of Northgate's 2010 first quarter financial results, which are scheduled for release before market open on May 11, 2010.

Webcast and Conference Call

For those unable to attend in person, a live audio webcast and presentation package will be available on Northgate's homepage at www.northgateminerals.com or http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID=3023460

Alternatively, you may listen to this event by calling 647-427-7450 or toll free in North America at 1-888-231-8191. The conference ID is 680 513 67.

Conference Replay

A replay of this event will be available beginning on May 11 at 1:30 pm ET until May 25 at 11:59 pm ET.

Replay Access No. 416-849-0833 Passcode: 680 513 67#

Replay Access No. 800-642-1687 Passcode: 680 513 67#

Northgate Minerals Added to S&P/TSX Composite Index

Mon, 22 Mar 2010 07:45:00 -0400

PDF of Press Release

VANCOUVER, March 22 /CNW/ - Northgate Minerals Corporation ("Northgate") (TSX: NGX, NYSE Amex: NXG) is pleased to announce that it will be added to the S&P/TSX Composite Index (the "Index") effective when trading begins today, Monday, March 22, 2010. The Index is the premier indicator of market activity for the Canadian equity markets. In addition to the inclusion on the Index, Northgate has also been added to the S&P/TSX Global Gold Index as well as the S&P/TSX Global Mining Index, both leading benchmarks of gold and mining portfolios and investment vehicles.

Cautionary Note Regarding Forward-Looking Statements and Information:

This Northgate press release contains "forward-looking information", as such term is defined in applicable Canadian securities legislation and "forwardlooking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, concerning Northgate's future financial or operating performance and other statements that express management's expectations or estimates of future developments, circumstances or results. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects", "believes", "anticipates", "budget", "scheduled", "estimates", "forecasts", "intends", "plans" and variations of such words and phrases, or by statements that certain actions, events or results "may", "will", "could", "would" or "might" "be taken", "occur" or "be achieved". Forward-looking information is based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which Northgate operates, are inherently subject to significant operational, economic and competitive uncertainties and contingencies. Northgate cautions that forward-looking information involves known and unknown risks, uncertainties and other factors that may cause Northgate's actual results, performance or achievements to be materially different from those expressed or implied by such information, including, but not limited to gold and copper price volatility; fluctuations in foreign exchange rates and interest rates; the impact of any hedging activities; discrepancies between actual and estimated production, between actual and estimated reserves and resources or between actual and estimated metallurgical recoveries; costs of production; capital expenditure requirements; the costs and timing of construction and development of new deposits; and the success of exploration and permitting activities. In addition, the factors described or referred to in the section entitled "Risk Factors" in Northgate's Annual Information Form for the year ended December 31, 2008 or under the heading "Risks and Uncertainties" in Northgate's 2008 Annual Report, both of which are available on the SEDAR website at www.sedar.com, should be reviewed in conjunction with the information found in this press release. Although Northgate has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in forward-looking information, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information in this press release is made as of the date of this press release, and Northgate disclaims any intention or obligation to update or revise such information, except as required by applicable law.

Cautionary Note to US Investors Regarding Mineral Reporting Standards:

The Company prepares its disclosure in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Terms relating to mineral resources in this press release are defined in accordance with National Instrument 43-101-Standards of Disclosure for Mineral Projects under the guidelines set out in the Canadian Institute of Mining, Metallurgy, and Petroleum Standards on Mineral Resources and Mineral Reserves. The Securities and Exchange Commission (the "SEC") permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. The Company uses certain terms, such as, "measured mineral resources" "indicated mineral resources", "inferred mineral resources" and "probable mineral reserves", that the SEC does not recognize (these terms may be used in this press release and are included in the Company's public filings which have been filed with securities commissions or similar authorities in Canada).