Northgate Minerals Corp (NXG)

[NYBob]

Northgate Minerals Corporation (NGX-TSX), which grants
Rimfire an option on its Stawell Corridor gold exploration
properties in the State of Victoria, Australia.



Note.
Northgate, through its 2008 acquisition of Perseverance
Corporation Ltd., acquired a dominant claim position in the
Victoria Goldfields, host to over 50 million ounces of gold
in both alluvial and hard rock reserves and production.

"With this agreement, we are building on an established
relationship," said President and CEO, Jason Weber.
"It is a terrific opportunity that became available to us
because Northgate's focus is on exploration around their
two operating mines, allowing us to advance their outside
targets in the corridor."

Chris Rockingham, VP of Exploration and Business Development
for Northgate stated, "From Northgate's perspective, choosing
Rimfire as a joint venture partner was easy.
They have proven to be very capable operators in our
Canadian Joint Ventures and the Stawell Corridor land package
is ideally suited for their grass roots exploration skill set."

Highlights of this agreement include:

- The opportunity to explore a highly productive gold belt in
a politically stable jurisdiction.

- The land position is coherent, encompassing much of the
Stawell Corridor.
The Stawell Corridor itself is well defined with
Northgate's high grade Stawell Gold Mine (SGM) at its core.

- Excellent greenfield exploration opportunities.
The exploration model for the corridor has been extensively
studied, providing exploration criteria at both the regional
and detailed scales.
Rimfire will have access to Northgate's SGM which will
help build a better understanding of the geological model
and improve Rimfire's exploration effectiveness.

- High quality targets with convincing similarities to
SGM exist in the land package being made available
to Rimfire.
Previous work programs were well designed, identifying
numerous targets that have yet to be brought to
the drill-ready stage, however, insufficient resources
were available to the predecessor company to conduct
systematic greenfields exploration of the entire land package.

- The deal is structured similar to other Rimfire/Northgate
arrangements in which Rimfire undertakes to advance
exploration to the point where drill targets are defined,
at which time Northgate can take over funding of exploration,
earning a larger percentage in the property for doing so.

The Stawell Corridor is a 240 km long belt bound by the
Congee and Moyston faults and cored by
ex..
Northgate's 5 million ounce Stawell Gold Mine
(20 Mt at 8 g/t gold).

Mineralization consists of gold-bearing quartz veins
in ferruginous (iron-rich) sediments associated with
basalt centres.

This deposit has been studied extensively, resulting in
the identification of large-scale characteristics that can
be used in the exploration for similar deposits elsewhere
in the district.

Geophysical techniques such as gravity and magnetics surveys
have proven effective in targeting basalt centres and
granites associated with mineralization.

These techniques will be important in evaluating the rest
of the Stawell Corridor and refining targets for drilling.

Rimfire will be exploring three licences, totaling 120 km
of the corridor length, representing all ground outside of
a buffer around the Stawell Gold Mine.

In addition to greenfields opportunities, more advanced
targets exist including the 10 kilometre-long Murtoa target,
which surrounds the Kewell gold resource.

The Kewell resource, which Northgate has opted to exclude
from this agreement, is reported to contain a historic
100,000 ounces of gold at 6 g/t gold and has been defined
by 25 drillholes.

Additional targets include kilometre-scale gravity anomalies
that have been confirmed through drilling to reflect basalt
centres at depth, with coincident gold and pathfinder element
geochemical anomalies on surface.
Rimfire has commenced a compilation of all the available
data to plan field work for this fall.

Under the agreement, Rimfire agrees to conduct exploration
to maintain the licenses in good standing for the
current year (approximately $370,000).
Rimfire can then elect to conduct further exploration on
any or all three of the licenses, earning a 50% interest
on each by spending $500,000 per license over two years.

Northgate then has the option on each license to:
1) carry out the next $1.5 million to earn back a 10%
interest (total 60%) and another 10% by reaching a
production decision;
2) not participate and allow Rimfire to earn a 100% interest
in the property by spending, or causing to have spent,
an additional $2 million over 4 years; or
3) participate in a 50/50 joint venture.
--

Thanks Huntewr7 your statement of NXG, a multi-million oz. discovery its not underestimated, in fact
ex..well. there could be much more gold at depth than what
has been mined so far which is stated in the following:
Northgate, through its 2008 acquisition of Perseverance
Corporation Ltd., acquired a dominant claim position in
the Victoria Goldfields, host to over 50 million ounces of gold.
That should cause an uplift in our share price if true.
All indications so far support this analysis.

http://www.northgateminerals.com/OperationsProjects/NorthgateStawellGoldMine/default.aspx

ex..
http://biz.yahoo.com/ccn/080728/200807280476380001.html?.v=1

ex..
Well, this could end up being a multi-million oz. discovery after all drilling is completed? -

The Fosterville Gold Mine -
is located 20 km east of Bendigo,
a township of approximately 95,000 people -

Note.
Bendigo, a historic gold mining centre area -
located 150 km north -
of Melbourne, is estimated to have -
produced 22 million ounces of gold -
following the first discoveries in 1851 -

ex....
the oldtimers eye-balled the gold veins -
drilling was mostly only done to get the stick dynamite in -
to blast out the goldore -
the old-timers followed the visible gold ore -

today, the bolshevikz bureau-crazyz sec. rulez demandz -
way to much of the costly drilling etc.

well, its also to know were to make shafts, adits and
inclines for the ore trucks etc.

don't forget this area has produced 22 million ounces of gold -
its one of the richest gold mining places in the world -
the deeper we go often the richer gold and wider viens -
the gold was not est. from the moon -
the gold is created from the very hot intrusions from inside
of the earth - its how the Mother created the gold -
the gold veins are often wider in the beginning -
often be more narrows before they reach the surface -
cooling off closer to surface -
if you want to find gold -
search the area were the gold been found before -
if not you will be out for a wild goose chase -
and get a lot of leavearights -

Still the oldtimers got 22 million ounces gold -
from the shallow areas near the surface -
but may only got the sniff of the deeper -
golden mother lode Au treasure chests below? -

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=33267700

Northgate - INC. 1919 Ont. is one of Canada's oldest mining
comp. who continued the mining since start and knows the
hi.tec. state of art needed development works -
the know how, will soon increase the Gold processing output etc.
dd....
http://www.northgateminerals.com
imo. tia.

God Bless