Northgate completed the acquisition of Perseverance Corporation Ltd., on
February 18, 2008, adding the Fosterville and Stawell Gold mines to its mining portfolio.

The acquisition is consistent with Northgate's strategic growth plan with the following attributes: 

• Two fully-permitted producing mines
• Politically stable jurisdictions
• Gold as primary metal
• Project diversification

Location and Overview – Fosterville Gold Mine
The Fosterville Gold mine is located 20 km east of Bendigo, a township of approximately 95,000 people. Bendigo, a historic gold mining centre located 150 km north of Melbourne, is estimated to have produced 22 million ounces of gold following the first discoveries in 1851.

• Underground gold mine
• Currently has a 5-year mine life plan at 100,000+ ounces of gold per year
• Investments in mine development and gold recovery enhancement project has significantly improved the efficiency of the operation 
• 2010 gold production is forecast to be a record 113,000 ounces.

Movie Clip – Overview of the Fosterville Gold Mine