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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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 http://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.
Northgate Minerals Corporation
CONTACT: Ms. Keren R. Yun, Director, Investor Relations, Tel: (416)
363-1701 ext. 233, Email: ngx@northgateminerals.com, Website:
http://www.northgateminerals.com/
