Northgate Minerals Corporation Confirms Discussions with Dioro Exploration NL
July 20 2009 - 8:29AM
PR Newswire (US)
VANCOUVER, July 20 /PRNewswire-FirstCall/ -- Northgate Minerals
Corporation (TSX: NGX, NYSE Amex: NXG) has confirmed today that it
is currently engaged in advanced discussions with the Board of
Directors of Dioro Exploration NL ("Dioro") regarding a potential
material transaction. Northgate will provide further updates on the
status of its discussions with the Dioro Board as appropriate and
in accordance with applicable regulations and its internal
disclosure policies. A press release dated July 20, 2009 has been
issued by Dioro in conjunction with the potential material
transaction and is available on Dioro's website at
http://www.dioro.com.au/. About Dioro: Dioro Exploration NL is an
integrated gold producer listed on the Australian Securities
Exchange (ASX) and Toronto Stock Exchange (TSX). Further
information regarding Dioro is available at
http://www.dioro.com.au/. About Northgate: 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. Forward-Looking Statements:
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. DATASOURCE: Northgate Minerals
Corporation CONTACT: Ms. Keren R. Yun, Director, Investor
Relations, Tel: (416) 363-1701 ext. 233, Email: , Website:
http://www.northgateminerals.com/
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