VANCOUVER, Sept. 26 /PRNewswire-FirstCall/ - Northgate Minerals Corporation
(TSX: NGX, AMEX: NXG) is pleased to announce that a new three-year employee
collective agreement (the "Agreement") has been ratified by the Employee
Collective, comprised of the 155 production and maintenance employees at the
Stawell Gold Mine located in Victoria, Australia. This Agreement replaces the
previous three-year agreement that expired on September 26, 2008.
Ken Stowe, President and CEO stated, "We are very pleased to have reached a
mutually beneficial agreement with our employees at Stawell after an extensive
negotiating 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 for their efforts during this process. With the recent
announcement to extend the current mine-life at Stawell until the fourth
quarter of 2011, adding to the prosperous 25-year history of modern
production, we are extremely committed to the operational success at the mine
as we look forward to many more years of mining at Stawell."
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 385,000 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" 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, including any
information as to the future activities of and developments related to the
business activities of Northgate Minerals Corporation (Northgate) and its
subsidiaries, the market position, and future financial or operating
performance of Northgate, are forward-looking and subject to important risk
factors and uncertainties, many of which are beyond the corporations' 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; impact of any hedging
activities, including margin limits and margin calls; 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, success of exploration activities and permitting
time lines; changes in national and local government legislation, taxation,
controls, regulations and political or economic developments in any of the
countries in which either corporation does or may carry out business in the
future; risks of sovereign investment; the speculative nature of gold
exploration, development and mining, including the risks of obtaining
necessary licenses and permits; dilution; competition; loss of key employees;
additional funding requirements; and defective title to mineral claims or
property. In addition, there are risks and hazards associated with the
business of gold exploration, development and mining, including environmental
hazards, industrial accidents, unusual or unexpected formations, pressures,
cave-ins, flooding and gold bullion losses (and the risk of inadequate
insurance or inability to obtain insurance, to cover these risks), as well as
the factors described or referred to in the section entitled "Risk Factors" in
Northgate's Annual Information Form for the year ended December 31, 2006 or
under the heading "Risks and Uncertainties" in Northgate's 2006 annual report,
both of which are available on SEDAR at www.sedar.com, and which should be
reviewed in conjunction with this document. Accordingly, readers should not
place undue reliance on forward-looking statements. Neither corporation
undertakes 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
