TSX: NGX AMEX: NXG
VANCOUVER, April 8 /PRNewswire-FirstCall/ - Northgate Minerals Corporation
(TSX: NGX, AMEX: NXG) is pleased to report that a new three-year collective
agreement (the "Agreement") has been ratified by the International Union of
Operating Engineers Local 115, representing the 300 production and maintenance
employees at its Kemess South mine. The Agreement replaces the previous
three-year agreement that expired on December 31, 2007.
Ken Stowe, President and CEO, stated: "We are pleased to have reached a
mutually beneficial agreement with our employees at Kemess after an extensive
negotiation process. This agreement is the result of dedication and commitment
on both sides of the bargaining table and I would like to commend the two
negotiating teams and the mediator for their efforts during this process."
NORTHGATE MINERALS CORPORATION is a mid-tier gold and copper producer with
mining operations, development projects and exploration properties in Canada
and Australia. The company is forecasting over 400,000 ounces of unhedged gold
production in 2008 and is targeting growth through further acquisitions in
stable mining jurisdictions around the world. Northgate is listed on the
Toronto Stock Exchange under the symbol NGX and on the American Stock Exchange
under the symbol NXG.
FORWARD-LOOKING STATEMENTS:
This news release contains certain "forward-looking statements" and
"forward-looking information" as defined under applicable Canadian and U.S.
securities laws. Forward-looking statements generally can be identified by the
use of forward-looking terminology such as "may," "will," "expect," "intend,"
"estimate," "anticipate," "believe," or "continue" or the negative thereof or
variations thereon or similar terminology. Forward-looking statements are
necessarily based on a number of estimates and assumptions that are inherently
subject to significant business, economic and competitive uncertainties and
contingencies. Certain of the statements made herein by Northgate Minerals
Corporation ("Northgate") including those related to future financial and
operating performance and those related to Northgate's future exploration and
development activities, are forward-looking and subject to important risk
factors and uncertainties, many of which are beyond the Corporation's ability
to control or predict. Known and unknown factors could cause actual results to
differ materially from those projected in the forward-looking statements. Such
factors include, among others: gold price volatility; fluctuations in foreign
exchange rates and interest rates; impact of any hedging activities;
discrepancies between actual and estimated production, between actual and
estimated reserves and resources and between actual and estimated
metallurgical recoveries; costs of production, capital expenditures, costs and
timing of construction and the development of new deposits; and, success of
exploration activities and permitting time lines. In addition, the factors
described or referred to in the section entitled "Risk Factors" of Northgate's
Annual Information Form (AIF) for the year ended December 31, 2007 or under
the heading "Risks and Uncertainties" of Northgate's 2007 Annual Report, both
of which are available on SEDAR at www.sedar.com, should be reviewed in
conjunction with this document. Accordingly, readers should not place undue
reliance on forward-looking statements. The Corporation does not undertake any
obligation to update publicly or release any revisions to forward-looking
statements to reflect events or circumstances after the date of this document
or to reflect the occurrence of unanticipated events, except in each case as
required by law.
SOURCE Northgate Minerals Corporation
Ms. Keren R. Yun, Director, Investor Relations, Tel: (416) 216-2781, Email:
ngx@northgateminerals.com, Website: www.northgateminerals.com
