Barite Grinding Mill

Barite Grinding Mill

Barite Grinding Mill

Sale of Kemess South Equipment

As mining activities come to a close at the Kemess South mine, Northgate has appointed an international mining services firm to market for sale its open pit mining fleet and some limited milling infrastructure that will no longer be needed once production ceases. Northgate will continue to maintain a majority of its Kemess milling facilities for the development and operation currently being contemplated at Kemess Underground.Barite Crusher Machine

Results from Operations

The results from operations for the fourth quarter and year ended 2010 follows on the press release dated January 13, 2011, when Northgate released production figures for the same periods. The results from operations contained in this press release should be read in conjunction with Northgate's fourth quarter MD&A report, available on our website at www.northgateminerals.com.

During the fourth quarter of 2010, a total of 163,404 tonnes of ore were mined for a total 729,080 tonnes mined in 2010. Also during the quarter, mill throughput was excellent, achieving a record 214,593 tonnes of ore. As a result, overall unit operating costs dropped to A$93 per tonne of ore milled compared to $101 per tonne in the same period last year. Mill throughput for all of 2010 was 817,535 tonnes of ore, which was better than the 781,879 tonnes milled last year.Barite Grinding Mill

For the full year 2010, the mill head grade was 4.57 grams per tonne (g/t). Gold recoveries averaged 82% for the year, slightly lower than forecast as a result of processing low-grade stockpile ore.

In 2011, production at Fosterville is forecast to be in the range of 97,000 102,000 ounces of gold.

Impairment Charges for Fosterville

At the end of each year, Northgate re-estimates reserves at all of its properties and revises its life-of-mine ("LOM") plans. LOM plans incorporate management assumptions and estimates of revenues and related costs, as well as the conversion of a portion of resources to reserves over the LOM. When this annual exercise was performed in early 2011, there were indicators of impairment at the Fosterville Gold mine. In accordance with Canadian GAAP, a recoverability test was performed for the long-lived assets, which identified them as potentially impaired as of December 31, 2010. The fair value of the Fosterville mine as at December 31, 2010 was established by using a LOM discounted cash flow model incorporating the following assumptions: gold prices of A$1,350/oz for 2011, A$1,300/oz for 2012 to 2013, A$1,250/oz for 2014 to 2015 and A$1,200/oz thereafter; a discount rate of 6.5%; and, a net asset value multiplier of 1.0x.Quartz Grinding Machine

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