Northgate Minerals Corporation Terminates Discussions with Dioro Exploration NL
July 28 2009 - 12:28AM
PR Newswire (US)
VANCOUVER, July 28 /PRNewswire-FirstCall/ -- Northgate Minerals
Corporation (TSX: NGX, NYSE Amex: NXG) has confirmed today that it
has terminated discussions with Dioro Exploration NL ("Dioro")
regarding a potential material transaction, as previously disclosed
on July 20, 2009. Northgate continues to evaluate strategic
opportunities and targeted acquisitions for growth that will
generate value for our shareholders. 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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