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March 4, 2009 - Northgate Minerals Corporation (AMEX:
NXG) today reported net earnings of $18,668,000 or $0.07 per diluted
common share and cash flow from operations of $5,858,000 or $0.02 per diluted
common share for the fourth quarter of 2008. For the full year, net earnings
were $10,742,000 or $0.04 per diluted common share and cash flow from operations
was $64,987,000 or $0.25 per diluted common share. Northgate also achieved
record gold production in 2008 of 354,800 ounces at a net cash cost of $447 per
ounce of gold.Northgate posted revenue of $137 million
for the fourth quarter of 2008, a 43% increase over the same period last year.
For the full year 2008, Northgate recorded revenue of $461 million, representing
a 37% increase over the full year 2007.
Contact:
Web Site:
http://www.northgateminerals.com.
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