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Wednesday, May 11, 2011

Gold Stocks; Northgate Minerals (TSX:NGX)(NYSE Amex:NXG)  Fosterville Gold Mine Celebrates 500,000 Ounces of Gold Produced

FOSTERVILLE, AUSTRALIA--(Investorideas.com mining stocks newswire - May 11, 2011) -
 
 
Northgate Minerals Corporation (TSX:NGX)(NYSE Amex:NXG) is pleased to announce that our Fosterville Gold Mine produced its half millionth ounce of gold in April 2011. The Fosterville staff marked the occasion with a celebration for this achievement.
 
"We are very pleased that Fosterville has reached this significant milestone", commented Ian Holland, General Manager, Fosterville Gold Mine. "2011 has already been a great year for the mine, as we are on track to deliver our third straight year of producing 100,000 ounces of gold, highlighted by our highest monthly production ever of 11,000 ounces in March. We are also looking forward to production from our new Harrier orebody, which will contribute to the achievement of our 100,000-ounce annual production forecast for the next few years."
 
Fosterville joins an elite group of companies who have achieved this milestone in Australia. Northgate's Stawell Gold Mine, also in the state of Victoria, produced its two millionth ounce of gold in March 2010.
 
The Fosterville Gold mine is located 20 kilometres east of Bendigo, a township of approximately 95,000 people. The mine currently employs over 300 people, including full-time employees and contractors. Bendigo, a historic gold mining centre located 150 km north of Melbourne, is estimated to have produced 22 million ounces of gold following the first discoveries in 1851.
 
Northgate would like to thank all of the employees at Fosterville for their dedicated teamwork in achieving production of 500,000 ounces of gold.
 
About Northgate
 
Northgate Minerals Corporation is a gold and copper producer with mining operations, development projects and exploration properties in Canada and Australia. Our vision is to be the leading intermediate gold producer by identifying, acquiring, developing and operating profitable, long-life mining properties. We have a robust three-year growth profile, targeting 350,000 ounces of gold in 2013.
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