17.03.2005 00:23:00
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Northgate Minerals Corporation: Environmental Review of Kemess North P
News Editors
VANCOUVER, British Columbia--(BUSINESS WIRE)--March 16, 2005--Northgate Minerals Corporation (TSX:NGX)(AMEX:NXG) is pleased to announce that the Canadian Environmental Assessment Agency (Federal) and the British Columbia Environmental Assessment Office (Provincial) have formally initiated the Kemess North environmental review process with the release on Monday March 13th, 2005 of the draft agreement for the establishment of a joint environmental review panel. After a 30-day public comment period, the agreement will be finalized and executed and the joint environmental assessment process will begin.
The terms of the agreement outlines the scope, procedures and timeline for the joint environmental assessment of the Kemess North project by a three-member panel and provides funding to facilitate the participation of the public and First Nations groups. The panel will begin its review by establishing guidelines for the preparation of the Kemess North Environmental Impact Assessment (EIA). Once the EIA is finalized and submitted by Northgate, the panel will convene 45 days of public hearings to provide those groups affected by the proposed development the opportunity to comment on the project as presented in the EIA. Once the public hearings conclude, a final report setting out the rationale, conclusions and recommendations of the panel relating to the environmental assessment of the Kemess North project will be prepared and submitted to both levels of government. The entire review process is expected to take between 10-12 months.
Ken Stowe commented "We are very pleased that the Provincial and Federal government agencies have come to terms on a harmonized environmental review process for the Kemess North project that meets the stringent requirements of the applicable environmental assessment acts and incorporates a fair and predictable process timeline. Once the panel review is initiated, Northgate will be given the opportunity to present its case for the development of Kemess North within a review process that ensures input from First Nations groups and the public at large and I am confident that the merits of the project will lead to a positive recommendation from the panel in early 2006."
Panel Review Timeline
-------------------------------------------------------------------- Event Allotted Time -------------------------------------------------------------------- Public and First Nations review of draft guidelines 30 days -------------------------------------------------------------------- Issuance of guidelines by panel Up to 14 days -------------------------------------------------------------------- Submission of EIA by Northgate -------------------------------------------------------------------- EIA Released for public and First Nations comment period 60 days -------------------------------------------------------------------- Northgate response to comments Up to 30 days -------------------------------------------------------------------- Panel review of EIA & possible request for additional information Up to 30 days -------------------------------------------------------------------- Northgate to provide any additional information requested -------------------------------------------------------------------- Notice period for panel hearings 45 days -------------------------------------------------------------------- Panel hearings 45 days -------------------------------------------------------------------- Delivery of panel's final report to Ministers Up to 60 days --------------------------------------------------------------------
About Kemess North:
Kemess North is an undeveloped gold/copper deposit containing 4.1 million ounces of Gold and 1.5 billion pounds of copper, located approximately six kilometers north of the Kemess South mine. Development of the Kemess North open pit and the expansion of Northgate's existing Kemess milling infrastructure is forecast to cost US$190 million and will extend the productive life of the Kemess operation and sustain the jobs of some 450 employees and contractors until at least 2019. Annual metal production during the mine's 13 year life will average 250,000 ounces of gold and 113,000 million pounds of copper.
About Northgate:
Northgate Minerals Corporation is a gold and copper mining company focused on operations and opportunities in the Americas. The Corporation's principal assets are the 300,000-ounce per year Kemess mine in north-central British Columbia and the adjacent Kemess North deposit, which contains a Proven and Probable Reserve of 4.1 million ounces of gold. Northgate is listed on the Toronto Stock Exchange under the symbol NGX and on the American Stock Exchange under the symbol NXG.
Forward-Looking Statements
This news release includes certain "forward-looking statements" within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. These forward-looking statements include estimates, forecasts, and statements as to management's expectations with respect to, among other things, future metal production and production costs, potential mineralization and reserves, exploration results, progress in the development of mineral properties, demand and market outlook for commodities and future plans and objectives of Northgate Minerals Corporation (Northgate). Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," or "continue" or the negative thereof or variations thereon or similar terminology. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management are inherently subject to significant business, economic and competitive uncertainties and contingencies. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Northgate's expectations are disclosed under the heading "Risk Factors" in Northgate's 2003 Annual Report and under the heading "Trends, Risks and Uncertainties" in Northgate's 2003 Annual Information Form (AIF) both of which are filed with Canadian regulators on SEDAR (www.sedar.com) and with the United States Securities and Exchange Commission (www.sec.gov). Northgate expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Northgate Minerals Corporation (TSX:NGX) (AMEX:NXG)
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CONTACT: Northgate Minerals Corporation Mr. Ken G. Stowe President and Chief Executive Officer (416) 216-2772 OR Northgate Minerals Corporation Mr. Jon A. Douglas Senior Vice President and Chief Financial Officer (416) 216-2774 www.northgateminerals.com
KEYWORD: NEW YORK INTERNATIONAL CANADA INDUSTRY KEYWORD: MINING/METALS SOURCE: Northgate Minerals Corporation
Copyright Business Wire 2005
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