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Three-Year Collective Agreement Ratified at Northgate's Fosterville Gold Mine
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VANCOUVER, June 29 /PRNewswire-FirstCall/ - Northgate Minerals Corporation
(TSX: NGX, NYSE Amex: NXG) is pleased to announce that a three-year Employee
Collective Agreement (the "Agreement") has been ratified by the Employee
Collective, comprising of 190 production and maintenance employees for the
underground and surface operations at the Fosterville Gold mine located in
Victoria, Australia. This Agreement replaces the Australian Workforce
Agreements and a temporary Greenfield agreement that was put into place in
April 2008 when Northgate completed its conversion to owner mining from
contractor mining.
Ken Stowe, President and CEO stated, "Shortly after acquiring the Fosterville
Gold mine, we quickly transitioned to owner mining with the focus on turning
around the operation. We hired virtually the entire workforce from the former
contractor and our new workforce embraced the opportunity to participate in
this successful turnaround. A year later, we are extremely pleased to have
reached a three-year Collective Agreement with our employees at Fosterville
and I would like to commend the significant contributions from the two
negotiating teams during this extensive process. Equipped with a strong
resource base, we will continue with our goal of growing both production and
reserves, and are backed by a dedicated workforce who is committed to the
long-term success of the mine."
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Northgate Minerals Corporation is a gold and copper producer with mining
operations, development projects and exploration properties in Canada and
Australia. The company is forecasting record gold production of over 390,000
ounces in 2009 and is targeting growth through further acquisition
opportunities in stable mining jurisdictions around the world. Northgate is
listed on the TSX under the symbol NGX and on the NYSE Amex under the symbol
NXG.
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Forward-Looking Statements:
This Northgate press release contains "forward-looking information", as such
term is defined in applicable Canadian securities legislation, 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.
SOURCE Northgate Minerals Corporation
Ms. Keren R. Yun, Director, Investor Relations, Tel: (416) 363-1701 ext. 233,
Email: ngx@northgateminerals.com, Website: www.northgateminerals.com
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