Profile: Northgate Minerals Corporation (NXG)

Northgate Minerals Corporation (Northgate), incorporated on January 7, 1919, is a Canadian-based gold and copper producer with operations, development projects and exploration properties in Canada and Australia. The Corporation’s principal producing assets are its 100% interests in the Fosterville and Stawell Gold mines in Australia and the Kemess South mine in Canada. The Corporation also holds a 100% interest in the Young-Davidson property, a development project in Canada. The Company’s properties include Kemess, Young-Davidson, Fosterville, Stawell, Matachewan Mineral Property and Boulevard Property. As at December 31, 2008, Kemess, Fosterville, Stawell and Young-Davidson amounted to total proven and probable reserves of 1,278,599 ounces of contained gold, with a further 11,232,050 ounces of contained gold in measured and indicated resources and 2,183,850 ounces of contained gold in inferred resources.

Kemess

The Kemess mine, owned and operated by Northgate, is situated in north-central British Columbia approximately 430 kilometers northwest of Prince George. The Kemess property consists of four mining leases (Numbers 354991, 410732, 410741 and 524240), 59 cell and legacy mineral claims (located under the Mineral Tenure Act (British Columbia) and regulations relating thereto) and one surface rights license, collectively covering 33,610 hectares (88,052 acres).

Young-Davidson

Northgate owns 100% of the mineral rights to all of the mineral resource related claims at the Young-Davidson Mine (the YD Mine) and the adjoining Matachewan Consolidated Mines Limited Mine (the MCM Mine). Northgate also holds the mineral rights to a large number of claims that are contiguous with the YD Mine and MCM Mine. Young-Davidson is comprised of 209 tenures related to mining claims, mining leases, patents, and licenses of occupation that were acquired either through staking, application, or option agreements The project consists of 121 staked mining claims, 39 mining leases, two patented claims, and two licenses of occupation, covering approximately 729 ha of surface rights and 5,038 ha of mining rights.

Fosterville

The Fosterville Gold Mine is located approximately 20 kilometres north-east of the city of Bendigo, and 130 kilometres north of Melbourne in Victoria, Australia. Bendigo is a historic gold mining centre which is estimated to have produced 22 million ounces of gold following the first discoveries in 1851. The Fosterville Gold Mine and all associated infrastructure, including the tailings dam, are located on Mining Lease 5404 (ML 5404), which is 100% owned by Perseverance.

Stawell

The Stawell Gold Mine is located in the State of Victoria, 250 kilometers northwest of Melbourne. The mining lease MIN5260 encompasses both the Magdala and Wonga mines and is located both under and around the township of Stawell with an area of 1000.58 Hectares.

Other Exploration

Northgate also has two properties, Matachewan Mineral Property and Boulevard Property. Northgate and Opawica Explorations Inc. (Opawica), entered into an Option and Joint Venture Agreement whereby Northgate can acquire an initial 55% interest in the mineral rights to the Matachewan property and 100% of the surface rights that are held by or may be acquired in future by Opawica for 14 of these claims. The property is located north of and contiguous to the Young-Davidson project, Larder Lake Mining Division of Ontario. The 100% owned property consists of 66 mineral claims in two separate claim blocks, held by Opawica through six separate underlying agreements, covering approximately 11 square kilometers.

The Boulevard property, located in the Yukon Territory is held jointly by Rimfire and Northgate. Gold mineralization was discovered at the Boulevard property in the first of three trenches to investigate portions of a 2 kilometre by 0.4 km arsenic-antimony-gold soil geochemical anomaly in an area of sparse outcrop. Three drill holes tested this mineralization at depth, returning 1.0 g/t gold over 1.8 metres in BV08-01, approximately 45 metres down dip from the trench, and 0.9 g/t gold over 18 metres including 1.9 g/t gold over 3.5 metres in BV08-03 approximately 5 metres down dip from the trench.