�(All figures in US dollars except where noted) - Northgate Minerals Corporation ("Northgate" or the "Corporation") (TSX: NGX) (NYSE Amex: NXG) today announced its financial and operating results for the three months ended March 31, 2011 in accordance with the newly adopted International Financial Reporting Standards ("IFRS").

First Quarter Highlights

• The net profit was $19.8 million or $0.07 per share.
• The adjusted net profit⁽¹⁾ was $7.5 million or $0.02 per share.
• Strong cash flow from operations of $40.1 million or $0.14 per share.
• First quarter production was 51,210 ounces of gold and 6.5 million pounds of copper at an average net cash cost of $699 per ounce.
• Production guidance for 2011 remains unchanged: 195,000 ounces - 205,000 ounces at a cash cost of $805 - $845 per ounce.
• First quarter metal sales were 56,937 ounces of gold at a realized price of $1,386 per ounce and 9.0 million pounds of copper at a realized price of $2.77 per pound.
• Northgate's cash balance at the end of the first quarter 2011 was $308.1 million.
• Construction activities at Young-Davidson remain on schedule and on budget.  At the end of the first quarter 2011, Northgate had invested approximately $130 million towards construction of the Young-Davidson mine.
• Subsequent to the end of the first quarter, Northgate entered into a Cdn$40 million three-year senior secured revolving credit facility with BNP Paribas.

"First quarter production was highlighted by an excellent performance at Kemess South, as the mine wrapped up with higher gold and copper production than forecast" commented Ken Stowe, President and CEO. "While production at our Australian mines came in lower than plan, we are pleased to report that our guidance remains the same for the year as both mines are forecasting higher production for the balance of 2011. On the development front, we are excited with the excellent progress being made at Young-Davidson, as the project remains on schedule and on budget.."

"As the Kemess South mine came to a close in March, I would like to take this opportunity to thank our dedicated workforce that has been a part of the Northgate-Kemess family since taking ownership of the mine in 2000. The work and commitment of our workforce have been exemplary, transforming the mine into a world-class asset, with production close to 3 million ounces of gold and 700 million pounds of copper. We now look forward to the rebirth of Kemess, having recently released an updated resource estimate for the Kemess Underground project and are expecting to complete a Preliminary Assessment by the summer."

Financial Performance

Northgate recorded consolidated revenue of $123.0 million in the first quarter of 2011, compared with revenue of $125.3 million recorded in the same period last year. Revenues were strong in the first quarter as a result of higher metal prices.

The adjusted net profit for the first quarter of 2011 was $7.5 million or $0.02 per share, compared with $6.3 million or $0.02 per share in the first quarter of 2010. The net profit for the first quarter of 2011 was $19.8 million or $0.07 per share, compared with $3.9 million or $0.01 per share in the first quarter of 2010.

Northgate generated excellent cash flow from operations of $40.1 million or $0.14 per share in the first quarter of 2011. The Corporation continues to maintain a strong balance sheet, with cash and cash equivalents totalling $308.1 million as of March 31, 2011.

Corporate Revolver

Subsequent to the end of the first quarter 2011, Northgate entered into a Cdn$40 million, three-year senior secured revolving credit facility (the "Revolver") with BNP Paribas. While Northgate does not forecast the need to draw down any funds, the Revolver provides additional financial capacity, if necessary, for the construction of the Young-Davidson mine.

Adoption of International Financial Reporting Standards ("IFRS")

In February 2008, the Accounting Standards Board confirmed that publicly-accountable entities will be required to prepare financial statements in accordance with IFRS for interim and annual financial statements for fiscal years beginning on or after January 1, 2011. Accordingly, Northgate has adopted IFRS effective January 1, 2011, which is reflected in our unaudited condensed consolidated interim financial statements for the first quarter ended March 31, 2011. In addition, all comparative figures for the 2010 fiscal year, included in our interim financial statements and related first quarter management's discussion and analysis ("MD&A"), have been restated in accordance with IFRS. Previously, Northgate prepared its consolidated annual and consolidated interim financial statements in accordance with Canadian generally accepted accounting principles ("Canadian GAAP").

Details of the significant accounting differences between IFRS and Canadian GAAP can be found in Northgate's first quarter MD&A and note 16 of our interim financial statements.

Results from Operations

Fosterville Gold Mine
Fosterville achieved production of 20,632 ounces of gold in the first quarter of 2011. Early in the year, the mill was impacted by issues within the BIOX� circuit, which affected production for the quarter. These issues have since been resolved and there is no material impact to the mine's annual production forecast.. Production is back on track, highlighted by a monthly record of just over 11,000 ounces in March. We are pleased to announce that Fosterville produced its half-millionth ounce of gold on the property in April.

During the quarter, mine development continued to progress well and was in line with forecast. A total of 188,906 tonnes of ore was mined and mine development advanced 2,203 m. Development towards the new Harrier zone also continued to progress well and production is on track to commence in the second half of 2011.

During the quarter, 161,064 tonnes of ore was milled at a grade of 4.96 grams per tonne ("g/t"), compared with the 191,663 tonnes milled at a grade of 5.11 g/t in the corresponding quarter of 2010.

The average net cash cost of production for the first quarter of 2011 was $1,012 per ounce, which was adversely effected by the dramatic increase in the Australian dollar relative to the US dollar and, to a lesser extent, by lower gold production. In the most recent quarter, the Australian dollar averaged 11% higher compared to the corresponding period last year. For the balance of 2011, cash costs in Australian dollars are expected to decrease relative to the first quarter and the annual forecast remains consistent with the original guidance provided.

Stawell Gold Mine
During the first quarter, the Stawell mine produced 16,006 ounces of gold, as a result of lower head grades mined. In the second quarter of 2011, production is expected to rise as grades improve and the annual production forecast remains unchanged.

During the quarter, a total of 197,317 tonnes of ore was mined and mine development advanced 1,493 m. Also during the quarter, 211,349 tonnes of ore was milled at an average grade of 2.85 g/t.  Although mill production was higher than plan, the processing of higher carbonaceous and low-grade ore resulted in lower-head grades, which impacted gold recoveries and production during the quarter.

Total operating costs were lower during the first quarter at A$76 per tonne of ore milled. Mining costs were A$50 per tonne of ore mined.

During the first quarter of 2011, the average net cash cost of production was $1,010 per ounce, resulting from the dramatic increase in the Australian dollar relative to the US dollar and lower gold production.  For the balance of 2011, cash costs in Australian dollars are expected to decrease relative to the first quarter and the annual forecast remains consistent with the original guidance provided.

Kemess South
During the first quarter, Kemess South posted strong production of 14,572 ounces of gold and 6.5 million pounds of copper. Quarterly production exceeded original guidance as a result of higher grades and higher mill throughput.  After processing all remaining stockpiles, the mill ceased production in March. The net cash cost of production for the first quarter was negative $85 per ounce of gold, as a result of higher copper prices, which increased 33% from the same period last year.

During the quarter, approximately 0.3 million tonnes of ore and waste were removed from the eastern end of the open pit. Unit mining costs were low at Cdn$0.92 per tonne moved.

2011 Production Forecast
Production for the full year 2011 remains unchanged from the original forecast:

¹ Assuming exchange rates of US$/Cdn$1.00 and US$/A$1..00 for Q2 to Q4 2011.

Building Young-Davidson

Construction activities at Young-Davidson remain on schedule and on budget. By the end of the first quarter 2011, Northgate had invested approximately $130 million towards construction of the Young-Davidson mine. In addition, 80% of the contracts worth approximately $170 million were awarded, 90% of the equipment purchase orders were placed and 66% of the engineering was completed.

Young-Davidson is scheduled for commissioning activities in the fourth quarter of 2011 and is targeting start-up of production in late Q1 2012.  The mine is expected to generate an average of 180,000 ounces of gold annually over an initial 15-year mine life.

Exploration Overview

Young-Davidson
Exploration at Young-Davidson in the first quarter was part of a $2.0 m drill program to explore for other deposits outside of the known reserves and resources currently being developed. Two drills totaling 5,000 m operated during the quarter focusing on the YD West zone. Hole YD10-198B (see press release dated April 13, 2011), located approximately 115 m below discovery hole 198, returned 5.43 g/t gold over 10.95 m. Drilling for the balance of 2011 will continue to focus on the YD West zone with the intent of delineating additional resources.  If the 2011 drilling program is successful, it is expected that an initial mineral resource estimate for the YD West zone will be completed by the end of the year.

In addition to this exploration program, underground delineation drilling in support of future underground mining activities began in late 2010 and is currently focusing on a sector of the Upper Boundary Zone.  This portion of the program is nearly complete and will be reported upon during the second quarter of 2011 once all results have been received..  It is expected that the results of this program will be incorporated into the annual reserve and resource re-estimate at the end of 2011.

Kemess Underground
During the quarter, Northgate released an updated resource estimate for its Kemess Underground project, located five kilometres north of the Kemess South mine in north-central British Columbia. The updated resource estimate followed on the completion of a 30-hole infill diamond drill program at Kemess Underground that was completed in 2010.  The updated resource estimate now contains an indicated resource of 136.5 million tonnes with 2.6 million ounces of gold and 860.6 million pounds of copper.  This represents 18% increase in tonnes, a 10% increase in contained gold and a 9% increase in contained copper when compared with the May 2010 total.

The mineral resource estimate will form the basis of a Preliminary Assessment, which will outline the economics and timeline for mining the current resources. Northgate expects to file the Preliminary Assessment in the third quarter of 2011.

Australia
At Stawell, drilling focused mainly on three target areas on or immediately adjacent to the current mining lease.  Two of these areas, the Northgate Gift and Wonga Dome, were discovered by diamond drilling during our "Big Fish" exploration campaign in 2010.  The third target area is GG6L, located below GG6, where there is potential to add to high-grade reserves.

During the quarter, approximately 8,800 m of drilling was completed. Within the Northgate Gift, a wedge hole intersected a target zone located 240 m above and south of the initial discovery hole, which suggests a continuous mineralized horizon. Follow-up drilling, which will take all of 2011 to complete, will better define the size and geometry of the zone and associated mineralization

Within the Wonga Dome, subsequent drilling has intersected lower sections of the basalt dome, where it is flanked by coarser grained sediments less favourable for gold mineralization. The next few holes are designed to intersect the basalt dome at a similar elevation and geologic setting as discovery hole 649 (13.7 g/t over 5.45 m - see press release dated November 1, 2010), at which point Northgate will evaluate whether mineralization in the area is sufficiently robust to support driving across to the zone to complete resource definition drilling.

Exploration activity at Fosterville, which had been scheduled for the first quarter, was deferred until the second quarter and commenced in April..  Exploration expenditures are forecast to be $3.8 million for approximately 18,000 m of diamond drilling, mainly focusing on resource conversion targets below and along trend from the currently mined Phoenix deposit.

Summarized Consolidated Results

Subsequent event (note 15)

The accompanying notes form an integral part of these condensed consolidated interim financial statements.