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If you like NTO, TGB, EZM then you'll love NXG.
Press Release Source: Northgate Minerals Corporation and Tse Keh Nay (3 Nations) (Takla First Nation, Tsay Keh Dene, Kwadacha First Nation)
NORTHGATE MINERALS AND TSE KEH NAY-3 NATIONS-SIGN KEMESS SOUTH COOPERATION AGREEMENT
Thursday June 15, 4:30 pm ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jun 15, 2006 -- Northgate Minerals Corporation (TSX:NGX.TO - News)(AMEX:NXG - News) and the Tse Keh Nay (3 Nations) are pleased to announce that they have signed a Cooperation Agreement related to the operation of Northgate's existing Kemess South mine in Northern British Columbia.
In the Agreement, the Tse Keh Nay (3 Nations) consisting of the Takla, Tsay Keh Dene and Kwadacha First Nations have agreed to formally respect the rights and interests of Northgate's wholly owned subsidiary Kemess Mines Ltd. to operate the Kemess South Mine within the traditional territories of the Tse Keh Nay. In exchange for this recognition, Kemess Mines Ltd. has agreed to respect the Tse Keh Nay's rights in the area and to provide funding to the Tse Keh Nay in the amount of Cdn$1,000,000 per year over the remaining Kemess South mine life. The funding will be used to benefit the Tse Keh Nay member communities.
As part of the Agreement, Northgate and the Tse Keh Nay (3 Nations) have agreed to meet twice per year during the term of the Agreement to discuss issues of mutual interest related to Northgate's ongoing activities at the Kemess South mine.
About Tse Keh Nay (3 Nations):
The Tse Keh Nay First Nations Group consists of the Takla, Tsay Keh Dene and Kwadacha First Nations that have lived in communities in the North Central portion of BC since time immemorial and who have asserted aboriginal rights and title to the area currently occupied by the Kemess South mining and milling operation.
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 South mine in north-central British Columbia, and the Young-Davidson property in northern Ontario. Northgate is listed on the Toronto Stock Exchange under the symbol NGX and on the American Stock Exchange under the symbol NXG. |
