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Northgate Minerals Reports Third Quarter Results 
Nov. 10, 2010 (PR Newswire) --
Young-Davidson Fully Funded and Advancing on Schedule and on Budget
Notice: Conference Call and Webcast of Q3 Results Today at 10:00 am ET
Dial in: +647-427-7450 or 1-888-231-8191
VANCOUVER, Nov. 10 /PRNewswire-FirstCall/ - (All figures in US dollars except where noted) - Northgate Minerals Corporation ("Northgate" or the "Corporation") (TSX: NGX; NYSE Amex: NXG) today announced its financial and operating results for the three and nine months ended September 30, 2010.
Third Quarter Highlights
* Reported adjusted net earnings of $1.7 million or $0.01 per diluted share.
* Generated cash flow from operations of $13.5 million or $0.05 per diluted share.
* Adjusted net earnings and cash flow from operations were adversely impacted by an inventory build-up at Kemess South as poor railcar availability impeded metal sales during the quarter. As inventory is sold during the fourth quarter of 2010, we expect to realize an additional $14 million in revenue.
* Produced 64,999 ounces of gold and 10.9 million pounds of copper at an average net cash cost of $645 per ounce.
* Successfully completed a convertible note offering for net proceeds of $163.5 million to fund the development of the Young-Davidson mine; Young-Davidson is now fully-funded and construction is advancing on schedule and on budget.
* Successful exploration results at Northgate's operations:
o Kemess Underground: intersected the highest grade-thickness interval ever encountered on the property of 3.37 grams per tonne ("g/t") gold and 0.95% copper over 60 metres ("m").
o Stawell: discovered gold in two previously untested areas, the first being the previously reported Northgate Gift and a second area 1.6 kilometres ("km") south of existing mine workings, which intersected 13.7 g/t gold over 5.45 m, including 25.0 g/t gold over 2.2 m, and 15.4 g/t gold over 2.5 m.
* In addition to exploration results released during the quarter, we are pleased to announce further exploration results, which are reported in Northgate's exploration press release dated November 10, 2010. Highlights include:
http://tmx.quotemedia.com/article.php?newsid=35597408&qm_symbol=NXG:US
God Bless
Nov. 10, 2010 (PR Newswire) --
Young-Davidson Fully Funded and Advancing on Schedule and on Budget
Notice: Conference Call and Webcast of Q3 Results Today at 10:00 am ET
Dial in: +647-427-7450 or 1-888-231-8191
VANCOUVER, Nov. 10 /PRNewswire-FirstCall/ - (All figures in US dollars except where noted) - Northgate Minerals Corporation ("Northgate" or the "Corporation") (TSX: NGX; NYSE Amex: NXG) today announced its financial and operating results for the three and nine months ended September 30, 2010.
Third Quarter Highlights
* Reported adjusted net earnings of $1.7 million or $0.01 per diluted share.
* Generated cash flow from operations of $13.5 million or $0.05 per diluted share.
* Adjusted net earnings and cash flow from operations were adversely impacted by an inventory build-up at Kemess South as poor railcar availability impeded metal sales during the quarter. As inventory is sold during the fourth quarter of 2010, we expect to realize an additional $14 million in revenue.
* Produced 64,999 ounces of gold and 10.9 million pounds of copper at an average net cash cost of $645 per ounce.
* Successfully completed a convertible note offering for net proceeds of $163.5 million to fund the development of the Young-Davidson mine; Young-Davidson is now fully-funded and construction is advancing on schedule and on budget.
* Successful exploration results at Northgate's operations:
o Kemess Underground: intersected the highest grade-thickness interval ever encountered on the property of 3.37 grams per tonne ("g/t") gold and 0.95% copper over 60 metres ("m").
o Stawell: discovered gold in two previously untested areas, the first being the previously reported Northgate Gift and a second area 1.6 kilometres ("km") south of existing mine workings, which intersected 13.7 g/t gold over 5.45 m, including 25.0 g/t gold over 2.2 m, and 15.4 g/t gold over 2.5 m.
* In addition to exploration results released during the quarter, we are pleased to announce further exploration results, which are reported in Northgate's exploration press release dated November 10, 2010. Highlights include:
http://tmx.quotemedia.com/article.php?newsid=35597408&qm_symbol=NXG:US
God Bless
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