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To: ~digs who wrote (1718)	10/28/2005 12:21:48 AM
From: ~digs	Read Replies (2) \| Respond to of 7944

[NXG] NORTHGATE MINERAL › 1.35 +0.01 ( +0.75%) stockcharts.com[w,a]daclyiay[pc40!c200!f][vc60][iut!La12,26,9!Ll14]&pref=G Oct. 27, 2005-- Northgate Minerals Corporation (TSX:NGX - News; AMEX:NXG - News) today reported its financial results for the third quarter of 2005. Cash flow from operations before changes in working capital was $19,731,000 or $0.10 per common share for the third quarter of 2005. Earnings for the quarter were $8,765,000 or $0.04 per share. Third Quarter 2005 Highlights - Gold production of 75,665 ounces at a cash cost of $194 per ounce generated almost $20 million in operating cash flow. - Northgate announced an agreement to acquire Young-Davidson Mines, Limited which has 1.5 million ounces of gold resources within a prospective land package located in the prolific Kirkland-Larder Lake Gold Belt of northeastern Ontario. ] - Diamond drilling in the Kemess North region discovered a new zone of gold/copper mineralization to the east of the Kemess North deposit. Ken Stowe, President and CEO, stated; "As expected, Northgate's financial results improved dramatically in the third quarter as mining operations moved into the western area of the Kemess South pit and ore grades returned to more normal levels. In the fourth quarter of this year, given our strong production forecast and the current commodity price environment, I fully expect Northgate to post record quarterly cash flow and earnings. Our management team continues to focus on the wise re-investment of the significant cash flow that Kemess South generates into opportunities in the gold sector that will create additional value for our shareholders. Our first substantial success in this regard will be the acquisition of Young-Davidson Mines, where we are acquiring 1.5 million gold resource ounces in one of the premier gold mining camps in North America with excellent potential to discover additional resources. The completion of this transaction combined with continued progress on permitting of the Kemess North project and strong financial results for the foreseeable future will provide Northgate with excellent momentum as we move into 2006."