Northgate Announces Appointment of Paul Dowd and Richard Hall to its Board of Directors
10 Décembre 2008 - 12:59AM
PR Newswire (US)
VANCOUVER, Dec. 9 /PRNewswire-FirstCall/ -- Northgate Minerals
Corporation (TSX: NGX, NYSE ALTERNEXT/AMEX: NXG) today
reported changes to its board of directors and is pleased to
announce the appointment of Mr. Paul J. Dowd and Mr. Richard J.
Hall as directors of Northgate. These appointments follow the
retirement of two of Northgate's directors, Mr. Keith C. Hendrick
and Mr. Klaus V. Konigsmann, who have served on the board since
2003. Ken Stowe, President and Chief Executive Officer, stated, "I
am extremely pleased to announce the appointment of two new
directors to our board. Both Paul and Richard bring a wealth of
experience in the mining industry, with specific focus on
operations in North America and Australia. Their expertise will be
invaluable to the future growth of Northgate, as we develop and
expand the Fosterville and Stawell Mines, move forward with the
Young-Davidson project, and look for additional opportunities for
growth and development of our company. I would also like to thank
Keith Hendrick and Klaus Konigsmann for their leadership and
distinguished service to our board over the past five years." Mr.
Dowd's professional career spans more than 40 years in the public
and private sectors, where he has developed businesses and managed
mining operations in Australia, US, Africa, Europe and Asia. He has
previously held positions as Managing Director of Newmont Australia
Limited and Vice President Australia and New Zealand. Prior to the
merger with Newmont and Franco-Nevada, he was Group Executive -
Operations for Normandy Mining Limited with responsibility for the
group's global managed mining interests. Mr. Dowd is currently
Managing Director of Phoenix Copper Limited, Chairman of the Board
of the South Australian Resources & Engineering Skills
Alliance, Chairman of the Resources Sector Infrastructure Council
of South Australia, Chairman of Adelaide Resources Ltd., and a
non-executive director of Regis Resources Ltd. and Buka Gold Ltd.
He also serves as an advisory councillor for the South Australian
Minerals and Petroleum Expert Group. Mr. Hall has over 35 years of
mining exploration and development experience. Over the past nine
years, Mr. Hall served as President and Chief Executive Officer of
Metallica Resources Inc., a publicly-traded mining company listed
on the TSX and on the AMEX. During his time at Metallica, he was
responsible for the financing, construction and commissioning of
the Cerro San Pedro mine in Mexico, which has an average annual
production of 80,000 and 3.5 million ounces of gold and silver,
respectively. Mr. Hall also participated in the discovery and
development of the El Morro deposit located in Chile through to a
final feasibility study. This work was done in conjunction with
Metallica's operating partner on the project, Xstrata Copper. In
August 2008, Metallica was part of a $1.6 billion merger with Peak
Gold Ltd. and New Gold Inc. Previous to Metallica, Mr. Hall held
senior management positions with Dayton Mining Corporation and
Pegasus Gold Corporation. Northgate is also pleased to announce the
recent appointment of Mr. Matthew J. Howorth, LLB, to the
position of Vice President, General Counsel and Corporate
Secretary. Mr. Howorth has spent the past decade practicing
corporate commercial law with a national law firm, has extensive
experience in the mining industry, and plays an integral role as
chief legal counsel to the company. Forward-Looking Statements:
This news release contains certain "forward-looking statements" and
"forward-looking information" under applicable Canadian and U.S.
securities laws. 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 on a
number of estimates and assumptions that are inherently subject to
significant business, economic and competitive uncertainties and
contingencies. Certain of the statements made herein, including any
information as to the future activities of and developments related
to the business activities of Northgate Minerals Corporation
(Northgate) and its subsidiaries, the market position, and future
financial or operating performance of Northgate, are
forward-looking and subject to important risk factors and
uncertainties, many of which are beyond the corporation's ability
to control or predict. Known and unknown factors could cause actual
results to differ materially from those projected in the
forward-looking statements. Such factors include, among others:
gold price volatility; impact of any hedging activities, including
margin limits and margin calls; discrepancies between actual and
estimated production, between actual and estimated reserves and
resources and between actual and estimated metallurgical
recoveries; costs of production, capital expenditures, costs and
timing of construction and the development of new deposits, success
of exploration activities and permitting time lines; changes in
national and local government legislation, taxation, controls,
regulations and political or economic developments in any of the
countries in which the corporation does or may carry out business
in the future; risks of sovereign investment; the speculative
nature of gold exploration, development and mining, including the
risks of obtaining necessary licenses and permits; dilution;
competition; loss of key employees; additional funding
requirements; and defective title to mineral claims or property. In
addition, there are risks and hazards associated with the business
of gold exploration, development and mining, including
environmental hazards, industrial accidents, unusual or unexpected
formations, pressures, cave-ins, flooding and gold bullion losses
(and the risk of inadequate insurance or inability to obtain
insurance, to cover these risks), as well as the factors described
or referred to in the section entitled "Risk Factors" in
Northgate's Annual Information Form for the year ended December 31,
2007 or under the heading "Risks and Uncertainties" in Northgate's
2007 Annual Report, both of which are available on SEDAR at
http://www.sedar.com/, and which should be reviewed in conjunction
with this document. Accordingly, readers should not place undue
reliance on forward-looking statements. The corporation does not
undertake any obligation to update publicly or release any
revisions to forward-looking statements to reflect events or
circumstances after the date of this document or to reflect the
occurrence of unanticipated events, except in each case as required
by law. DATASOURCE: Northgate Minerals Corporation CONTACT: Ms.
Keren R. Yun, Director, Investor Relations, Tel: (416) 216-2781,
Email: , Website: http://www.northgateminerals.com/
Copyright