EXHIBIT 99.1

News release via Canada NewsWire, Toronto 416-863-9350

	    Attention Business/Financial Editors:
	    Northgate Reports First Quarter Financial Results; Adjusted Net Earnings
	    of $0.12 per Share

	    VANCOUVER, May 1 /CNW/ - (All figures in US dollars except where noted) -
Northgate Minerals Corporation (TSX: NGX; AMEX: NXG) today reported adjusted
net earnings of $29,393,000 or $0.12 per diluted common share and cash flow
from operations of $15,450,000 or $0.06 per diluted common share for the first
quarter of 2008. Northgate's net earnings of $20,427,000 or $0.08 per diluted
common share include a one-time, non-cash mark-to-market gain of $9,836,000
arising from the settlement of the gold forward contracts of Perseverance
Corporation Ltd. ("Perseverance"), and the negative non-cash change of
$29,332,000 in the fair value of copper forward sales contracts related to
future production in late 2009 and 2010. A reconciliation of net earnings to
adjusted net earnings is provided under the section entitled Non-GAAP
Measures.

	    <<
	                        First Quarter 2008 Highlights

	    -   Closed the Perseverance transaction for A$230,552,000
	        (US$210,516,000) and added two additional operating mines to
	        Northgate's asset portfolio.

	    -   Total calendar quarterly gold production of approximately
	        90,000 ounces at Northgate's three operating mines at an average net
	        cash cost of production of $320 per ounce of gold.

	    -   Kemess South produced 14.4 million pounds of copper in concentrate.

	    -   A new three-year collective agreement was ratified on April 8, 2008
	        by the International Union of Operating Engineers Local 115,
	        representing the 300 production and maintenance employees at Kemess
	        South.

	    -   Indicated resources underground at Young-Davidson increased by 137%.

	    -   A Memorandum of Understanding ("MOU") for the development of the
	        Young-Davidson mine was signed with the Matachewan First Nation.
	    >>

	    Ken Stowe, President and CEO, stated: "The closing of the Perseverance
transaction in February has opened a new and exciting chapter in the history
of Northgate. At our two new Australian mines, we are implementing aggressive
plans to address the key strategic issues that we identified during our due
diligence. We are very pleased that from a management perspective the
integration of the new operations has gone very smoothly and we are excited to
welcome over 450 dedicated employees to the Northgate family. Northgate is
committed to make significant investments in operational improvements and near
mine exploration at Stawell and Fosterville to increase their reserve lives
and reduce their operating costs. In particular, we expect to see dramatic
improvements at Fosterville during 2008 once the conversion to owner mining is
completed and as a comprehensive metallurgical enhancement program identifies
specific methods of significantly improving gold recoveries. Back in Canada,
the Young-Davidson project continues to make excellent progress on all fronts
with a preliminary assessment report due out in the second quarter of 2008 and
a feasibility study scheduled for completion at the end of the year. The
continued robust price environment for gold and copper bodes well for the
future as we look to add more projects and mines to our company from existing
platforms in Canada and Australia."


	    Executive Overview

	    Financial Performance

	    Northgate recorded consolidated net earnings of $20,427,000 or $0.08 per
diluted common share in the first quarter of 2008 compared with earnings of
$9,406,000 or $0.04 per share during the corresponding quarter of 2007. On
February 18, 2008, Northgate completed the acquisition of Perseverance; the
first quarter consolidated results include the activities of Perseverance from
February 19 onwards. Per share data is based on 255,338,997 weighted average
diluted number of shares outstanding in the first quarter of 2008 and
255,541,281 in the corresponding period of 2007. As of May 1, 2008, the
Corporation had 255,258,185 issued and outstanding common shares.
	    The net earnings of the Corporation include a one-time, non-cash
mark-to-market gain of $9,836,000 arising from the settlement of the gold
forward contracts of Perseverance. The contracts were settled directly by
Perseverance after the completion of the acquisition. The net earnings also
include the negative change in the fair value of the Corporation's copper
hedge contracts of $29,332,000. Excluding these items, adjusted net earnings
per diluted common share increase to $0.12.

	    Health, Safety and Environment

	    Kemess South recorded two lost time injuries during the first quarter.

	    In Australia, the Stawell mine operated without any lost time incidents
in the first quarter of 2008 and overall safety performance improved compared
to the same period in 2007. The Fosterville mine also operated without any
lost time incidents during the quarter, but there were two significant "near
miss" underground incidents that were cause for concern. In order to promote a
strong safety culture within the workforce at Fosterville, Northgate suspended
underground mining operations for eight days shortly after assuming control of
the mine. During this period, a review of safety and training procedures was
completed to ensure that all members of the underground workforce had adequate
safety training. In the second quarter of the year, Northgate will be
conducting safety and environmental audits at both of its recently acquired
Australian mines.

	    <<
	    Summarized Consolidated Results

	    (100% of production basis; thousands
	     of US dollars, except where noted)              Q1 2008(1)      Q1 2007
	    -------------------------------------------------------------------------
	    Operating Data

	    Gold production (ounces)                            89,601        68,110
	    Gold sales (ounces)                                 61,539        66,480
	    Average spot gold price - London Bullion
	     Market ($ per ounce)                                  927           650
	    Copper production (thousands pounds)                14,380        17,702
	    Copper sales (thousands pounds)                     13,375        17,270
	    Average spot copper price - London Metal
	     Exchange Cash ($ per pound)                          3.54          2.69
	    -------------------------------------------------------------------------

	    Financial Data

	    Revenue                                             86,093        74,313
	    Net earnings                                        20,427         9,406
	    Earnings per share
	      Basic                                               0.08          0.04
	      Diluted                                             0.08          0.04
	    Cash flow from operations                           15,450        19,241
	    Cash and cash equivalents                           52,688       278,810
	    Total assets                                       715,625       530,119
	    -------------------------------------------------------------------------
	    -------------------------------------------------------------------------
	    (1) Financial data and gold sales (ounces) include the results of
	        Perseverance from February 19 to March 31, 2008. Other figures are
	        for the three month period ending March 31, 2008.


	    KEMESS SOUTH MINE

	    (100% of production basis; thousands
	     of US dollars, except where noted)                Q1 2008       Q1 2007
	    -------------------------------------------------------------------------

	    Operating Data

	    Ore plus waste mined (tonnes)                    8,536,638    12,082,857
	    Ore mined (tonnes)                               4,766,372     5,561,033
	    Stripping ratio (waste/ore)                          0.791          1.17

	    Ore milled (tonnes)                              4,243,891     4,341,422
	    Ore milled per day (tonnes)                         46,636        48,238

	    Gold
	      Grade (g/t)                                        0.522         0.677
	      Recovery (%)                                          70            72
	      Production (ounces)                               49,583        68,110
	      Sales (ounces)                                    44,724        66,480

	    Copper
	      Grade (%)                                          0.182         0.214
	      Recovery (%)                                          85            86
	      Production (thousands pounds)                     14,380        17,702
	      Sales (thousands pounds)                          13,375        17,270

	    Net cash cost ($/ounce)                                105            28
	    -------------------------------------------------------------------------

	    Financial Data

	    Revenue                                            104,016        93,245
	    Cost of sales                                       49,164        46,986
	    Earnings from operations                            47,039        32,391
	    Cash flow from operations                           27,316         1,586
	    Capital expenditures                                 1,789         2,743
	    -------------------------------------------------------------------------
	    -------------------------------------------------------------------------
	    >>

	    Operational Performance

	    The Kemess South mine posted gold and copper production of 49,583 ounces
and 14.4 million pounds, respectively, in the first quarter of 2008. Metal
production was adversely affected by a number of factors, including several
unscheduled power outages by BC Hydro, which disrupted scheduled production
for a total of five days in the quarter, and lower than expected gold grades.
	    During the first quarter of 2008, approximately 8.5 million tonnes of ore
and waste were removed from the open pit compared to 12.1 million tonnes
during the corresponding quarter of 2007. Unit mining costs were Cdn$2.01 per
tonne compared with Cdn$1.47 per tonne in the first quarter of 2007. The unit
mining costs in the most recent quarter were significantly higher than they
were in the same period last year due to the significantly lower volume of
material moved, higher prices for diesel fuel and higher maintenance costs.
	    Mill availability and mill throughput during the first quarter of 2008
were 89% and 46,636 tonnes per day (tpd), respectively, compared with 91%
availability and throughput of 48,238 tpd in the first quarter of 2007. The
ore milled in the first quarter of 2008 had a grade of 0.522 grams per metric
tonne (g/t) for gold and 0.182% for copper. Gold grades of the ore milled were
9% lower than predicted by the Kemess South reserve model, which in
combination with lower than expected mill availability due to several power
outages, were responsible for gold production that was 13% lower than plan and
copper production that was 4% lower than plan.
	    Gold and copper recoveries averaged 70% and 85%, respectively, compared
with 72% and 86% in the first quarter of 2007. While gold recoveries were
slightly lower than one year ago, metallurgical performance in the first
quarter of 2008 was actually better than plan on the much lower grade ore that
was milled.
	    Metal concentrate inventory increased by 1,000 wet metric tonnes (wmt) in
the first quarter of 2008 to approximately 7,000 wmt, as a result of poor
railcar availability due to extreme winter conditions experienced throughout
Canada in February and March.
	    The average unit cost of production at Kemess per tonne milled during the
first quarter of 2008 was Cdn$13.58, including Cdn$3.18 for concentrate
marketing costs, which was comprised of treatment and refining costs and
transportation fees. The unit cost in the same quarter in 2007 was Cdn$13.86,
which included Cdn$4.21 for marketing costs. Overall units costs have fallen
due to a decline in 2008 Benchmark settlement terms throughout the world for
treatment and refining costs. However, this was offset by an increase in site
operating costs, which were Cdn$44.2 million in the first quarter of 2008,
approximately 5% higher than the Cdn$41.9 million figure recorded in the first
quarter of 2007. The increase in costs is extremely broad based with costs for
energy, consumables and labour all rising. The net cash cost of production at
Kemess in the first quarter was $105 per ounce of gold compared to the $28 per
ounce cash cost reported in the first quarter of 2007. The net cash cost was
higher than the figure in the corresponding period last year due to the
combined effects of lower gold and copper production, the stronger Canadian
dollar and higher Canadian dollar denominated site costs, which were only
partially offset by stronger copper prices and reductions in marketing costs.

	    Financial Performance

	    Revenue from the Kemess South mine in the first quarter of 2008 was
$104,016,000 compared with $93,245,000 in the corresponding period of 2007
excluding the effects of mark-to-market adjustments on Northgate's hedge
books. Metal sales in the first quarter of 2008 consisted of 44,724 ounces of
gold and 13.4 million pounds of copper, compared with 66,480 ounces of gold
and 17.3 million pounds of copper in the first quarter of 2007. During the
first quarter of 2008, the price of gold on the London Bullion Market averaged
$927 per ounce and the price of copper on the London Metal Exchange (LME)
averaged $3.54. The net realized metal prices received on sales in the first
quarter of 2008 were approximately $960 per ounce of gold and $3.68 per pound
of copper, compared with $579 per ounce and $3.03 per pound in the first
quarter of 2007.
	    The cost of sales in the first quarter of 2008 was $49,164,000, which was
higher than the corresponding period last year when the cost of sales was
$46,986,000. The increase in the most recent quarter reflects the higher costs
of production as well as the impact of the strengthening Canadian dollar.
	    Depreciation and depletion expenses in the first quarter were $7,745,000
compared to $13,348,000 during the corresponding period of 2007. The lower
depreciation and depletion expense for the most recent quarter reflects the
29% reduction in tonnes mined and is slightly offset by an increase in the
amortization rate for 2008 as a result of capital expenditures in the prior
year.
	    Capital expenditures during the first quarter of 2008 totalled $1,789,000
compared to $2,743,000 in the corresponding period of 2007. Capital
expenditures in the most recent quarter were primarily devoted to ongoing
construction of the tailings dam and the purchase of new mining equipment
including dewatering equipment and an excavator for the Kemess South mine.

	    <<
	    STAWELL GOLD MINE

	    (100% of production basis; thousands
	     of US dollars, except where noted)                Q1 2008       Q1 2007
	    -------------------------------------------------------------------------

	    Operating Data

	    Ore mined (tonnes)                                 150,217       164,837
	    Ore milled (tonnes)                                166,835       188,860
	    Ore milled per day (tonnes)                          1,833         2,098

	    Gold
	      Grade (g/t)                                         5.96          6.10
	      Recovery (%)                                          89            90
	      Production (ounces)                               28,363        33,443
	      Sales (ounces)(1)                                 12,247        32,762

	    Net cash cost ($/ounce)(1)                             536           n/a
	    -------------------------------------------------------------------------

	    Financial Data(1)

	    Revenue                                             11,739           n/a
	    Cost of sales                                        7,245           n/a
	    Earnings from operations                               683           n/a
	    Cash flow from operations                            6,592           n/a
	    Capital expenditures                                 2,622           n/a
	    -------------------------------------------------------------------------
	    -------------------------------------------------------------------------
	    (1) Financial data and gold sales (ounces) include the results of
	        Perseverance from February 19 to March 31, 2008. Other figures are
	        for the three month period ending March 31, 2008.
	    >>


	    The Stawell mine produced a total of 28,363 ounces of gold during the
three months ended March 31, 2008. Gold production attributable to Northgate
from the date of acquisition was 11,508 ounces at a net cash cost of $536 per
ounce. During the quarter, gold production was 1,600 ounces higher than
forecast, primarily due to significantly higher than predicted ore grades in
the underground mine. Approximately 167,000 tonnes of ore at a grade of
5.96 g/t were milled in the first quarter of 2008. Gold recoveries in the mill
were in line with expectation at 89%. Total operating costs from the date of
acquisition were A$6,170,000 equating to an overall unit operating cost of
A$89/mt of ore milled. Mining costs were A$57/mt of ore mined and milling
costs were A$29/mt of ore milled.
	    Underground mine development continued in the Golden Gift (GG) production
zones, GG1, GG3 and GG5L, during the quarter and the development advance
totalled 1,201 metres (capital and operating). Progress was made upgrading
underground ventilation systems, improving secondary egress routes to certain
areas of the mine and on the conversion to emulsion explosives.

	    Financial Performance

	    Stawell's revenue from the date of acquisition to March 31, 2008 was
$11,739,000 based on gold sales of 12,247 ounces. The cost of sales for this
period was $7,245,000 and earnings from operations were $683,000. The mine
generated $6,592,000 in cash from operations from February 19, 2008 to the end
of the quarter.
	    Cash expenditures for Stawell include capital expenditures of $2,622,000
and exploration of $412,000. Depreciation for the period from February 19 was
$3,387,000.

	    <<
	    FOSTERVILLE GOLD MINE

	    (100% of production basis; thousands
	     of US dollars, except where noted)                Q1 2008       Q1 2007
	    -------------------------------------------------------------------------

	    Operating Data

	    Ore mined (tonnes)                                 110,904       149,648
	    Ore milled (tonnes)                                139,492       240,465
	    Ore milled per day (tonnes)                          1,533         2,672

	    Gold
	      Grade (g/t)                                          4.3           2.9
	      Recovery (%)                                          54            81
	      Production (ounces)                               11,655        17,951
	      Sales (ounces)(1)                                  4,568        19,691

	    Net cash cost ($/ounce)(1)                           1,190           n/a
	    -------------------------------------------------------------------------

	    Financial Data(1)

	    Revenue                                              4,398           n/a
	    Cost of sales                                        6,346           n/a
	    Earnings (loss) from operations                     (3,781)          n/a
	    Cash flow from operations                           (1,908)          n/a
	    Capital expenditures                                 2,596           n/a
	    -------------------------------------------------------------------------
	    -------------------------------------------------------------------------
	    (1) Financial data and gold sales (ounces) include the results of
	        Perseverance from February 19 to March 31, 2008. Other figures are
	        for the three month period ending March 31, 2008.
	    >>


	    The Fosterville mine produced 11,655 ounces of gold during the three
months ended March 31, 2008. Gold production attributable to Northgate from
the date of acquisition was 4,782 ounces at a net cash cost of $1,190 per
ounce. Gold production at Fosterville during the quarter was negatively
affected by two mining shutdown events. The first was a 10 day suspension of
underground mining that began just before Christmas while the mine was still
controlled by its previous owner. During this suspension, ore from surface
stockpiles was milled to maintain gold production, which reduced the amount
and quality of ore available for processing in January. Upon assuming control
of the mine on February 19, 2008, Northgate temporarily suspended underground
mining activities for a period of eight days from February 21-28, 2008 in
order to facilitate a thorough review of operating procedures in the
underground mine and provide additional safety training to its mining
personnel. In addition to taking these steps, a number of key initiatives were
put in motion to ensure the long-term success of the mine, including
conversion to owner mining from contractor mining and implementation of a gold
recovery enhancement program to improve overall efficiency and lower costs.
The transition to owner mining, which includes the purchase of new mining
equipment, is well advanced and is expected to be completed by June 2008.
	    Approximately 139,492 tonnes of ore at a grade of 4.3 g/t were milled in
the first quarter of 2008. Gold recoveries in the milling circuit were well
below historic levels due to the treatment of a very high proportion (60%) of
stockpiled inherently lower recovery carbonaceous ores during the month of
January due to the extended shutdown of underground activities in late
December. This ore type is primarily associated with the Fosterville fault and
typically makes up about 8%-10% of the ore delivered to the mill. Current and
future ore sources have significantly less carbon content and recoveries had
returned to normal levels by March 2008.
	    Total operating costs from the date of acquisition were A$5,688,000,
equating to an overall unit operating cost of $161/mt of ore milled. Mining
costs were A$74/ mt of ore mined and milling costs were A$53/mt of ore milled.
	    A comprehensive recovery improvement project has been initiated in order
to significantly increase the 75%-80% average gold recovery levels achieved in
the past. The project team includes both Northgate staff and world-renowned
experts in the field. A pilot plant is expected to arrive on site in early
May, which will expedite the testing of a number of process improvements that
have already been identified as having a high probability of success.
	    Underground mine development at the Fosterville mine totalled
1,420 metres during the first quarter of 2008 in spite of the eight day
operating shutdown. Northgate plans to spend approximately A$19,000,000 on
underground mine development during 2008 in order to increase the number of
working faces underground and allow the ramp-up of the processing plant to
design capacity.

	    Financial Performance

	    Fosterville's revenue from the date of acquisition to March 31, 2008 was
$4,398,000 based on gold sales of 4,568 ounces. The cost of sales for this
period was $6,346,000 and the loss from operations was $3,781,000. The mine
utilized $1,908,000 in cash from operations from February 19, 2008 to the end
of the quarter.
	    Cash expenditures for Fosterville include capital expenditures of
$2,596,000 and exploration of $175,000. Depreciation for the quarter from
February 19 was $1,667,000.

	    Exploration Update

	    YOUNG-DAVIDSON

	    Significant progress on all fronts was made at Young-Davidson during the
first quarter. On February 6, 2008, a revised resource estimate was announced
in which total indicated underground resources increased by 137% to
1.42 million ounces. Total resources on the property include 1,418,000 ounces
of indicated and 440,000 ounces of inferred resources underground and a
further 464,000 ounces of measured and indicated resources in the proposed
open pit.
	    Exploration drilling continued from surface and underground during the
quarter. To date, a total of 10,353 metres of diamond drilling have been
completed as part of the $5 million 2008 drilling program, which is designed
to increase resources between the two main zones of mineralization at depth
and move additional inferred resources into the indicated category in the
Upper Boundary zone.
	    The underground ramp development continued with an additional 674 metres
during the quarter. A cross cut drift was completed through the Upper Boundary
zone where a 40-tonne bulk sample was extracted for grinding circuit pilot
plant testing.
	    On March 26, 2008, Northgate signed an MOU with the Matachewan First
Nation. The MOU outlines the framework for the negotiation of an Impact and
Benefit Agreement, which will establish the long-term working relationship
between Northgate and the Matachewan First Nation during the development and
operation of the mine.
	    Northgate is also working on a NI 43-101 compliant Preliminary Assessment
Report, which is nearing completion and is expected to be released by the end
of the second quarter of 2008.


	    Figure 1: Young-Davidson Property
	    (Vertical, North Looking, Longitudinal Section with Metric Grid)
	    www.northgateminerals.com/Theme/Northgate/files/Releases/2008/YD_Feb08.gi
f

	    STAWELL GOLD MINE

	    During 2008, Northgate has allocated $7 million towards an aggressive
exploration plan at Stawell in order to identify new underground resources and
to convert resources to reserves through underground diamond drilling and
surface exploration. Northgate recently announced very positive drill results
from the Golden Gift 6 (GG6) zone at the Stawell Gold mine in a press release
dated April 15, 2008 and will be completing a resource estimation for this
zone in June. In addition to the drill results at GG6, Northgate is also
targeting the North Magdala zone as a high priority target given its close
proximity to existing mine workings (Figure 2) and the highly prospective
nature of the target. The North Magdala campaign will be conducted from both
surface and underground. Five to six holes will be wedged off an existing
surface hole (SD622), which had an intercept of 9.4m at 8.35 g/t gold. Coupled
with the recent results in GG6, the North Magdala program is expected to add
significant resources and extend the present mine life at Stawell.

	    Figure 2: Stawell - North Magdala Target
	    (Vertical, West Looking, Longitudinal Section with Metric Grid)
	    www.northgateminerals.com/Theme/Northgate/files/Releases/2008/SGM_NMag.gi
f


	    FOSTERVILLE GOLD MINE

	    Northgate has allocated $3 million during 2008 towards definition
drilling of the Wirrawilla Zone (Figure 3), which lies about 1.5 kilometres
south of the Fosterville processing facility and 800 metres south of and 500
metres above the known southern extents of the Phoenix resource.
Mineralization at Wirrawilla plunges south, averaging true widths of 3m - 5m.
The drill spacing in this zone is presently 100m north-south by 50m down
plunge. Significant Wirrawilla downhole drill intercepts include:

	    <<
	    SPD261:    10.7m at 11.2 g/t gold
	    SPD382A    6.5m at 7.9 g/t gold
	    SPD379:    4.9m at 6.5 g/t gold
	    >>

	    The Wirrawilla area has an inferred resource of 4.6 million tonnes (at) 3.3
g/t gold for 500,000 contained ounces using a 2.0 g/t gold lower cut-off. At a
higher 3.0 g/t gold cut-off, which approximates the present underground mining
cut-off grade, there is 2.7 million tonnes (at) 4.1 g/t gold for 350,000
contained ounces.
	    The resource definition drilling program will begin in early May and
entail 5,000m of reverse circulation and 12,000m of diamond drilling to
increase the drill hole density to 50m north-south and 50m down-dip.
Geotechnical and metallurgical studies will be undertaken as drilling
progresses.
	    On a regional basis, Northgate has begun a program to evaluate the
extensive land package around the Fosterville mining lease. Within the land
package, the first priority is a reconnaissance drill program at Myrtle Creek
south of Fosterville, where there are extensive historic workings that have
not been subject to modern exploration and diamond drill testing.


	    Figure 3: Fosterville Wirrawilla Area
	    www.northgateminerals.com/Theme/Northgate/files/Releases/2008/Wirrawilla.
gif

	    Corporate Overview

	    At March 31, 2008, Northgate had no forward gold contracts outstanding.
At March 31, 2008, forward contracts for 3,025 mt of copper related to the
December 2007 production remained outstanding at an average price of $3.30 per
pound. 16,200 mt of copper forward contracts, representing approximately 100%
of Kemess South's remaining copper production for the 12 month period ended
June 2010, remained outstanding at an average price of $2.52 per pound.
	    Corporate administration costs in the first quarter of 2008 were
$3,161,000 compared to $2,128,000 in the prior year quarter. The increase is
due primarily to administrative expenditures in Australia of $668,000.
Canadian corporate expenditures of $2,493,000 include corporate development
costs as well as ongoing compliance costs.
	    Exploration costs in the first quarter of 2008 were $6,161,000 compared
to $3,593,000 in the prior year quarter as a result of the increased activity
in Canada in which $5,574,000 was incurred primarily at the Young-Davidson
property where the advanced underground exploration program continues. A total
of $587,000 was expended in Australia since February 19 to the end of the
first quarter.
	    Other income includes a one-time, non-cash mark-to-market gain of
$9,836,000 related to the settlement of Perseverance's gold forward contracts.
In connection with the acquisition of Perseverance, Northgate had entered into
an agreement to acquire Perseverance's portfolio of gold forward contracts
based on the value of the underlying forward contracts at October 30, 2007. A
derivative gain was recorded to recognize the difference in the fair value of
the portfolio and the settlement amount.

	    Liquidity and Capital Resources

	    Working Capital: At March 31, 2008, Northgate had working capital of
$35,850,000 compared with working capital of $235,739,000 at December 31,
2007. The decrease in working capital was driven primarily by the acquisition
of Perseverance, which was achieved through the purchase of all ordinary
shares, warrants, options and convertible securities for cash consideration.
Cash and cash equivalents at March 31, 2008 amounted to $52,688,000 compared
with $266,045,000 at December 31, 2007. All cash and cash equivalents are
invested in R1/P1/A1 rated investments including money market funds, direct
obligation commercial paper, bankers' acceptances and other highly rated
short- term investment instruments.

	    Investments: The Corporation continues to maintain a portion of its
investments in auction rate securities ("ARS"), which are floating rate
securities that are marketed by financial institutions with auction reset
dates at 7, 28, or 35 day intervals to provide short-term liquidity. All ARS
were rated AAA when purchased, pursuant to the Corporation's investment
policy. Beginning in August 2007, a number of auctions began to fail and the
Corporation is currently holding ARS with a par value of $72,600,000, which
currently lack liquidity. The Corporation's ARS investments were originally
structured and marketed by a major US investment bank.
	    The estimated fair value of the Corporation's ARS holdings at March 31,
2008 was $64,397,000, which reflects a $5,000,000 adjustment to the December
31, 2007 estimated fair value of $69,397,000. This adjustment was recorded
into other comprehensive income as the Corporation believes this decline in
value to be temporary. All of the ARS investments have continued to make
regular interest payments. Further, approximately 57% of the ARS investments
are insured by bond insurer institutions (monoline insurers).
	    In estimating the fair value of ARS, the Corporation considered various
variables, including trading levels of comparable securities markets, the
Corporation's rank within the capital structure of the individual ARS issuers,
the credit circumstances of financial guarantors, and the investments and
reserves held by the issuers.
	    Rating agencies such as S&P, Moody's and Fitch continue to monitor the
credit rating of monoline insurers. During the quarter, a number of bond
insurers were downgraded by certain rating agencies, which in some cases
resulted in a downgrade of the AAA securities insured by those institutions.
All of the Corporation's uninsured ARS continue to be rated AAA and Aaa, as
applicable.
	    The Corporation has no investments in asset backed commercial paper,
mortgage backed securities or collateralized debt obligations.
	    The balance of Northgate's long-term investments comprises of equity
investments in publicly-listed junior mining companies. These investments are
carried on the balance sheet at fair value based on quoted bid prices.
	    If uncertainties in the credit and capital markets persist or Northgate
experiences further downgrades on its ARS holdings, the Corporation may incur
additional impairments, which may be judged to be other than temporary.
Northgate believes that based on its cash and cash equivalents balance of
$52,688,000 at March 31, 2008 and expected operating cash flows, the current
liquidity issues concerning its ARS investments will not have a material
impact on Northgate's ability to carry on its business.

	    Acquisition of Perseverance: On February 18, 2008, Northgate completed
its acquisition of Perseverance and a total of A$230,552,000 (US$210,516,000)
was paid to Perseverance securityholders. The results of Perseverance have
been included in the interim consolidated financial statements from
February 19, 2008.
	    In connection with the acquisition of Perseverance, the Corporation was
required to pledge a cash amount of A$109,400,000 in a stand-by letter of
credit ("SBLC"). A portion of the SBLC was released upon payment of the
consideration for the debt instruments noted above. The funds remaining in the
SBLC at December 31, 2007 were used to settle Perseverance's gold forward
contracts for A$49,317,000 (US$45,550,000) and to pledge certain performance
guarantees in Australia for A$8,020,000 (US$7,434,000). At March 31, 2008,
A$100,000 remains in the SBLC to cover various administrative costs related to
the acquisition.

	    Short-Term Loan: In December 2007, the Corporation secured a loan from
the same US investment bank, which structured and marketed Northgate's ARS
investments. The proceeds of the loan have been invested in highly liquid
investments, which can be accessed if needed for working capital requirements.
The loan bears interest at LIBOR plus 100 basis points and matures on June 6,
2008. At March 31, 2008, the balance of the loan including accrued interest
was $45,038,000.

	    Adoption of New Accounting Standards

	    On January 1, 2008, the Corporation adopted the Canadian Institute of
Chartered Accountants ("CICA") Handbook Sections 1535, Capital Disclosures;
Section 3031, Inventories; Section 3862, Financial Instruments - Disclosures;
Section 3863, Financial Instruments - Presentation; and Section 1400,
Financial Statement Presentation. In accordance with the transitional
provisions, prior periods have not been restated. The principal changes
resulting from these new standards are described below:

	    Capital Disclosures

	    Section 1535 establishes standards for disclosing information about the
Corporation's capital and how it is managed. The required disclosures with
respects to capital management have been included in the notes to the interim
financial statements.

	    Inventories

	    Section 3031 establishes standards for the determination of inventory
cost and its subsequent recognition as an expense, including any write-down to
net realizable value. In addition, in certain circumstances, write-downs of
inventory previously recognized may be reversed. This section also provides
guidance concerning the presentation of supplies inventory, capital spares and
insurance spares on the balance sheet. This section has been applied
retroactively without restatement of prior year comparative amounts. Upon
adoption of this standard, an adjustment to supplies inventory of $1,032,000
was recognized to reclassify significant long-term capital and insurance
spares to property, plant and equipment. A related adjustment to opening
retained earnings of $381,000 was recognized to adjust for additional
depreciation on the spares
	    Further upon adoption of this standard, the Corporation changed its
valuation of supplies inventory from the lower of cost and replacement cost to
the lower of cost and net realizable value. This change in valuation had no
impact on the Corporation's financial statements.

	    Financial Instruments - Presentation and Disclosure

	    Section 3862, Financial Instruments - Disclosures expands on the types
and nature of disclosures required with respects to an entity's use and
exposure from financial instruments. Adoption of this standard resulted in
more detailed disclosures in the notes to financial statements. These
disclosures are included in the notes to the interim financial statements.
	    Section 3863, Financial Instruments - Presentation establishes the
standards for the classification of financial instruments as liabilities or
equity and the classification of related gains, income, and/or losses in the
statement of operations. The adoption of these standards did not result in any
changes to the Corporation's financial statements.
	    As a result of the acquisition of Perseverance, the Corporation has also
adopted a series of accounting policies associated with the related operations
acquired. The related significant accounting policies are disclosed in the
notes to the interim financial statements.

	    Financial Statement Presentation

	    Section 1400, General Standards of Financial Statement Presentation, was
amended to include requirements to assess and disclose an entity's ability to
continue as a going concern. Currently, the amended requirements have no
impact on the Corporation's financial statements.

	    New Accounting Pronouncements

	    Goodwill and Intangible Assets

	    In February 2008, the CICA issued Section 3064, Goodwill and Intangible
Assets which replaces Section 3062, Goodwill and Other Intangible Assets and
Section 3450, Research and Development Costs. The new section establishes
standards for the recognition, measurement and disclosure of goodwill and
intangible assets and harmonizes this standard with International Financial
Reporting Standard IAS 38, Intangible Assets. The new requirements are
effective for fiscal years beginning on or after October 1, 2008. The
Corporation is in the process of assessing the effect this new standard will
have on its results of operations of financial position.

	    Conversion to International Financial Reporting Standards

	    On February 13, 2008, the Accounting Standards Board announced that
publicly accountable entities will be required to prepare financial statements
in accordance with International Financial Reporting Standards (IFRS) for
interim and annual financial statements for fiscal years beginning on or after
January 1, 2011. The Corporation is currently assessing the impact of the
conversion on the consolidated financial statements and disclosures and will
develop a conversion implementation plan.

	    Non-GAAP Measures

	    Adjusted Net Earnings

	    The Corporation has prepared a calculation of adjusted net earnings which
has removed certain non-cash adjustments from its Canadian generally accepted
accounting principles (Canadian GAAP) calculation of net earnings as it
believes this may be a useful indicator to investors. Adjusted net earnings
may not be comparable to other similarly titled measures of other companies.


	    <<
	    -------------------------------------------------------------------------
	    (Expressed in thousands of US$, except share amounts)
	    -------------------------------------------------------------------------
	    Net earnings                                                  $   20,427
	    Adjustments
	      Unrealized gain on derivatives related to the acquisition
	       of Perseverance hedge book                                     (9,836)
	      Fair value adjustment on copper forward contracts, net of
	       tax $10,530                                                    18,802
	    -------------------------------------------------------------------------
	    Adjusted net earnings                                             29,393
	    -------------------------------------------------------------------------
	    Diluted common shares outstanding                            255,338,997
	    -------------------------------------------------------------------------
	    Adjusted net earnings per diluted common share                $     0.12
	    -------------------------------------------------------------------------
	    >>

	    Cash Cost

	    The Corporation has included net cash costs of production per ounce of
gold in the discussion of its results from operations, because it believes
that these figures are a useful indicator to investors and management of a
mine's performance as they provide: (i) a measure of the mine's cash margin
per ounce, by comparison of the cash operating costs per ounce to the price of
gold; (ii) the trend in costs as the mine matures; and, (iii) an internal
benchmark of performance to allow for comparison against other mines. However,
cash costs of production should not be considered as an alternative to net
earnings or as an alternative to other Canadian GAAP measures and may not be
comparable to other similarly titled measures of other companies.
	    A reconciliation of net cash costs per ounce of production to amounts
reported in the statement of operations is shown in the following table.

	    <<
	    Q1 2008
	    (Expressed in thousands
	     of US$, except per ounce
	     amounts)                  Kemess   Stawell(1)  Fosterville(1)  Combined
	    -------------------------------------------------------------------------
	    Gold production
	     (ounces)                  49,583       11,508        4,782       65,873
	    -------------------------------------------------------------------------
	    Cost of sales           $  49,164    $   7,245    $   6,346    $  62,755
	    -------------------------------------------------------------------------
	    Change in inventories
	     and other                  8,301       (1,075)        (658)       6,568
	    Gross copper and silver
	     revenue                  (52,280)           -            -      (52,280)
	    -------------------------------------------------------------------------
	    Total cash cost             5,185        6,170        5,688       17,040
	    -------------------------------------------------------------------------
	    Cash cost ($/ounce)     $     105    $     536    $   1,190    $     259
	    -------------------------------------------------------------------------


	    Q1 2007
	    (Expressed in thousands
	     of US$, except per ounce
	     amounts)                  Kemess      Stawell  Fosterville     Combined
	    -------------------------------------------------------------------------
	    Gold production
	     (ounces)                  68,110          n/a          n/a       68,110
	    -------------------------------------------------------------------------
	    Cost of sales           $  46,986          n/a          n/a    $  46,986
	    Change in inventories
	     and other                  4,361          n/a          n/a        4,361
	    Gross copper and silver
	     revenue                  (49,406)         n/a          n/a      (49,406)
	    -------------------------------------------------------------------------
	    Total cash cost             1,941          n/a          n/a        1,941
	    -------------------------------------------------------------------------
	    Cash cost ($/ounce)     $      28          n/a          n/a    $      28
	    -------------------------------------------------------------------------
	    (1) Quarterly data for the Stawell and Fosterville gold mines only
	        include results from February 19, 2008 to March 31, 2008.


	    Selected Quarterly Financial Data

	    (Thousands of
	     US dollars,
	     except per share,
	     per ounce
	     and per pound         2008             2007 Quarter Ended
	     amounts)            Mar 31      Dec 31     Sep 30     Jun 30     Mar 31
	    -------------------------------------------------------------------------

	    Revenue             $ 86,093   $ 95,999   $ 86,756   $ 80,878   $ 74,313

	    Earnings (loss) for
	     the period           20,427     33,309    (11,937)     8,647      9,406
	    Earnings (loss) per
	     share
	      Basic             $   0.08   $   0.13   $  (0.05)  $   0.03   $   0.04
	      Diluted           $   0.08   $   0.13   $  (0.05)  $   0.03   $   0.04
	    Metal production
	      Gold (ounces)       65,873     41,467     70,055     65,999     68,110
	      Copper
	      (thousands pounds)  14,380     16,766     18,822     14,839     17,702
	    Metal Prices
	      Gold (London
	       Bullion Market -
	       $ per ounce)          927        788        681        667        650
	      Copper (LME Cash -
	       $ per pound)         3.54       3.26       3.50       3.47       2.69
	    -------------------------------------------------------------------------
	    -------------------------------------------------------------------------


	    (Thousands of
	     US dollars,
	     except per share,
	     per ounce
	     and per pound              2006 Quarter Ended
	     amounts)             Dec 31     Sep 30     Jun 30
	    ---------------------------------------------------

	    Revenue             $118,239   $102,667   $105,348

	    Earnings (loss) for
	     the period           19,790     14,902     50,315
	    Earnings (loss) per
	     share
	      Basic             $   0.09   $   0.07   $   0.23
	      Diluted           $   0.09   $   0.07   $   0.22
	    Metal production
	      Gold (ounces)       81,746     74,789     76,127
	      Copper
	      (thousands pounds)  21,254     19,602     18,071
	    Metal Prices
	      Gold (London
	       Bullion Market -
	       $ per ounce)          614        622        627
	      Copper (LME Cash -
	       $ per pound)         3.21       3.48       3.27
	    ---------------------------------------------------
	    ---------------------------------------------------

	                           (x) (x) (x) (x) (x) (x)
	    >>


	    Notification of Annual General Meeting

	    May 2, 2008, 10:00 AM Toronto time

	    TSX Broadcast Centre,
	    Exchange Tower, 130 King Street West,
	    Toronto, Canada

	    This event will also include an overview of Northgate's 2008 first
quarter financial results, which are scheduled for release after market close
on May 1, 2008.

	    Webcast and Conference Call

	    For those unable to attend in person, a live audio webcast and
presentation package will be available on Northgate's homepage at
www.northgateminerals.com. Alternatively, you may listen to this event by
calling 416-644-3416 or toll free in North America at 1-800-732-9307.
	    A replay of this event will be available beginning on May 2 at 12:30 pm
ET until May 16 at 11:59 pm ET.

	    <<
	    Replay Access No. 416-640-1917     Passcode:  212 685 85 followed by the
	                                                   number sign
	    Replay Access No. 877-289-8525     Passcode:  212 685 85 followed by the
	                                                   number sign

	                           (x) (x) (x) (x) (x) (x)
	    >>

	    Northgate Minerals Corporation is a mid-tier gold and copper producer
with mining operations, development projects and exploration properties in
Canada and Australia. The company is forecasting over 400,000 ounces of
unhedged gold production in 2008 and is targeting growth through further
acquisitions in stable mining jurisdictions around the world. Northgate is
listed on the Toronto Stock Exchange under the symbol NGX and on the American
Stock Exchange under the symbol NXG.

	    <<
	                           (x) (x) (x) (x) (x) (x)
	    >>

	    Forward-Looking Statements:

	    This news release contains certain "forward-looking statements" and
"forward-looking information" as defined 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 by Northgate Minerals
Corporation ("Northgate") including those related to future financial and
operating performance and those related to Northgate's future exploration and
development activities, 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; fluctuations in foreign
exchange rates and interest rates; impact of any hedging activities;
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; and, success of
exploration activities and permitting time lines. In addition, the factors
described or referred to in the section entitled "Risk Factors" of Northgate's
Annual Information Form (AIF) for the year ended December 31, 2007 or under
the heading "Risks and Uncertainties" of Northgate's 2007 Annual Report, both
of which are available on SEDAR at www.sedar.com, 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.



	    <<
	    Interim Consolidated Balance Sheets

	                                                      March 31   December 31
	    Thousands of US dollars                               2008          2007
	    -------------------------------------------------------------------------
	                                                    (Unaudited)
	    Assets
	    Current Assets
	    Cash and cash equivalents                      $    52,688   $   266,045
	    Concentrate settlements and other receivables       37,933        17,101
	    Inventories (note 5)                                52,719        35,234
	    Future income tax asset                              1,147         1,194
	    -------------------------------------------------------------------------
	                                                       144,487       319,574
	    Other assets                                        47,407        80,181
	    Long-term receivables                                    -        25,117
	    Deferred acquisition costs                               -         1,799
	    Future income tax asset                             16,438        16,507
	    Mineral property, plant and equipment              370,960       121,337
	    Investments (note 6)                                65,550        70,074
	    Goodwill                                            70,783             -
	    -------------------------------------------------------------------------
	                                                   $   715,625   $   634,589
	    -------------------------------------------------------------------------
	    -------------------------------------------------------------------------

	    Liabilities and Shareholders' Equity
	    Current Liabilities
	    Accounts payable and accrued liabilities       $    58,658   $    35,861
	    Short-term loan                                     45,038        44,835
	    Current portion of capital lease obligations         3,854         2,267
	    Future income tax liability                          1,087           872
	    -------------------------------------------------------------------------
	                                                       108,637        83,835
	    Capital lease obligations                              675           282
	    Other long-term liabilities                         31,787        12,089
	    Provision for site closure and reclamation
	     obligations                                        56,802        49,120
	    Future income tax liability                         13,265         2,487
	    -------------------------------------------------------------------------
	                                                       211,166       147,813

	    Shareholders' equity
	    Common shares                                      311,182       309,455
	    Contributed surplus                                  4,354         3,940
	    Accumulated other comprehensive loss                (7,786)       (3,282)
	    Retained earnings                                  196,709       176,663
	    -------------------------------------------------------------------------
	                                                       504,459       486,776
	    -------------------------------------------------------------------------
	                                                   $   715,625   $   634,589
	    -------------------------------------------------------------------------
	    -------------------------------------------------------------------------

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



	    Interim Consolidated Statements of Operations and Comprehensive Income

	    Thousands of US dollars, except share        Three Months Ended March 31
	     and per share amounts, unaudited                     2008          2007
	    -------------------------------------------------------------------------
	    Revenue                                        $    86,093   $    74,313
	    -------------------------------------------------------------------------
	    Cost of sales                                       62,755        46,986
	    Administrative and general                           3,161         2,128
	    Depreciation and depletion                          12,851        11,026
	    Net interest income                                 (3,612)       (3,236)
	    Exploration                                          6,161         3,593
	    Currency translation gain                           (7,874)       (1,192)
	    Accretion of site closure and reclamation costs        741           438
	    Other income                                        (9,836)            -
	    -------------------------------------------------------------------------
	                                                        64,347        59,743
	    -------------------------------------------------------------------------
	    Earnings before income taxes                        21,746        14,570
	    Income tax recovery (expense)
	      Current                                           (1,586)       (3,313)
	      Future                                               267        (1,851)
	    -------------------------------------------------------------------------
	                                                        (1,319)       (5,164)
	    -------------------------------------------------------------------------
	    Net earnings for the period                    $    20,427   $     9,406
	    -------------------------------------------------------------------------
	    -------------------------------------------------------------------------
	    Other comprehensive income (loss)
	      Reclassification of net realized gains on
	       available for sale securities to net earnings         -          (315)
	      Unrealized gain (loss) on available for
	       sale securities                                  (4,498)          134
	      Unrealized gain on translation of
	       self-sustaining operations                           (6)            -
	      Reclassification of deferred losses on gold
	       forward contracts to net earnings, net of tax         -         4,306
	    -------------------------------------------------------------------------
	                                                        (4,504)        4,125
	    -------------------------------------------------------------------------
	    Comprehensive income                           $    15,923   $    13,531
	    -------------------------------------------------------------------------
	    -------------------------------------------------------------------------
	    Net earnings per share
	      Basic                                        $      0.08   $      0.04
	      Diluted                                      $      0.08   $      0.04
	    Weighted average shares outstanding
	      Basic                                        254,677,588   253,962,949
	      Diluted                                      255,338,997   255,541,281
	    -------------------------------------------------------------------------
	    -------------------------------------------------------------------------

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



	    Interim Consolidated Statement of Changes in Shareholders' Equity


	                                       Number of        Common
	    Thousands of US dollars, except       Common        Shares   Contributed
	     common shares, unaudited             Shares        Amount       Surplus
	    -------------------------------------------------------------------------
	    Balance at December 31, 2007     254,452,862    $  309,455    $    3,940
	      Transitional adjustment on
	       adoption of inventory
	       standard (note 4)                       -             -             -
	      Shares issued under employee
	       share purchase plan                50,440           104             -
	      Shares issued on exercise
	       of options                        736,300         1,571          (439)
	      Stock-based compensation                 -            52           853
	      Net income                               -             -             -
	      Other comprehensive income               -             -             -
	    -------------------------------------------------------------------------
	    Balance at March 31, 2008        255,239,602    $  311,182    $    4,354
	    -------------------------------------------------------------------------
	    -------------------------------------------------------------------------


	                                                    Accumulated
	                                                          Other
	    Thousands of US dollars, except     Retained  Comprehensive
	     common shares, unaudited           Earnings         Income        Total
	    -------------------------------------------------------------------------
	    Balance at December 31, 2007      $  176,663    $   (3,282)   $  486,776
	      Transitional adjustment on
	       adoption of inventory
	       standard (note 4)                    (381)            -          (381)
	      Shares issued under employee
	       share purchase plan                     -             -           104
	      Shares issued on exercise
	       of options                              -             -         1,132
	      Stock-based compensation                 -             -           905
	      Net income                          20,427             -        20,427
	      Other comprehensive income               -        (4,504)       (4,504)
	    -------------------------------------------------------------------------
	    Balance at March 31, 2008         $  196,709    $   (7,786)   $  504,459
	    -------------------------------------------------------------------------
	    -------------------------------------------------------------------------



	                                       Number of        Common
	    Thousands of US dollars, except       Common        Shares   Contributed
	     common shares, unaudited             Shares        Amount       Surplus
	    -------------------------------------------------------------------------
	    Balance at December 31, 2006     253,700,033    $  307,914    $    2,596
	      Transitional adjustment on
	       adoption of financial
	       instruments                             -             -             -
	      Shares issued under employee
	       share purchase plan                32,807            79             -
	      Shares issued on exercise of
	       share purchase warrants                 -             -             -
	      Shares issued on exercise
	       of options                        413,420           519          (153)
	      Stock-based compensation                 -            39           759
	      Net income                               -             -             -
	      Other comprehensive income               -             -             -
	    -------------------------------------------------------------------------
	    Balance at March 31, 2007        254,146,260    $  308,551    $    3,202
	    -------------------------------------------------------------------------
	    -------------------------------------------------------------------------


	                                                    Accumulated
	                                                          Other
	    Thousands of US dollars, except     Retained  Comprehensive
	     common shares, unaudited           Earnings         Income        Total
	    -------------------------------------------------------------------------
	    Balance at December 31, 2006      $  137,238    $        -    $  447,748
	      Transitional adjustment on
	       adoption of financial
	       instruments                             -       (18,676)      (18,676)
	      Shares issued under employee
	       share purchase plan                     -             -            79
	      Shares issued on exercise of
	       share purchase warrants                 -             -             -
	      Shares issued on exercise
	       of options                              -             -           366
	      Stock-based compensation                 -             -           798
	      Net income                           9,406             -         9,406
	      Other comprehensive income               -         4,125         4,125
	    -------------------------------------------------------------------------
	    Balance at March 31, 2007         $  146,644    $  (14,551)   $  443,846
	    -------------------------------------------------------------------------
	    -------------------------------------------------------------------------

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



	    Interim Consolidated Statements of Cash Flows

	                                                 Three Months Ended March 31
	    Thousands of US dollars, unaudited                    2008          2007
	    -------------------------------------------------------------------------
	    Operating activities:
	      Net earnings for the period                  $    20,427   $     9,406
	    Non-cash items:
	      Depreciation and depletion                        12,851        11,026
	      Unrealized currency translation gain              (7,369)          (35)
	      Unrealized gain on derivatives                    (9,836)            -
	      Accretion of site closure and reclamation
	       costs                                               741           438
	      Amortization of hedging losses                         -         6,537
	      Amortization of deferred charges                      54            72
	      Stock-based compensation                             905           798
	      Future income tax expense (recovery)                (267)        1,851
	      Change in fair value of forward contracts         30,920        20,099
	      Gain on sale of investments                           (1)         (315)
	    Changes in operating working capital and other:
	      Concentrate settlements and other receivables    (17,626)      (17,199)
	      Inventories                                       (5,758)       (6,202)
	      Accounts payable and accrued liabilities          (7,876)        2,091
	      Settlement of forward contracts                   (1,588)       (9,326)
	      Reclamation costs paid                              (127)            -
	    -------------------------------------------------------------------------
	                                                        15,450        19,241
	    -------------------------------------------------------------------------
	    Investing activities:
	    Release of restricted cash                          53,064             -
	    Increase in restricted cash                        (30,549)            -
	    Purchase of mineral property, plant
	     and equipment                                      (7,097)       (2,761)
	    Transaction costs paid                              (1,925)            -
	    Acquisition of Perseverance, net of
	     cash acquired                                    (196,590)            -
	    Repayment of Perseverance hedge portfolio          (45,550)            -
	    Proceeds from sale of investments                        1           315
	    -------------------------------------------------------------------------
	                                                      (228,646)       (2,446)
	    -------------------------------------------------------------------------
	    Financing activities:
	    Repayment of capital lease obligation               (1,077)         (629)
	    Financing from credit facility                       7,948             -
	    Repayment of credit facility                        (7,746)            -
	    Repayment of other long-term liabilities              (304)            -
	    Issuance of common shares                            1,236           445
	    -------------------------------------------------------------------------
	                                                            57          (184)
	    -------------------------------------------------------------------------
	    Effect of exchange rate changes on cash
	     and cash equivalents                                 (218)            -
	    -------------------------------------------------------------------------
	    Increase/(decrease) in cash and cash
	     equivalents                                      (213,357)       16,611
	    Cash and cash equivalents, beginning of period     266,045       262,199
	    -------------------------------------------------------------------------
	    Cash and cash equivalents, end of period       $    52,688   $   278,810
	    -------------------------------------------------------------------------
	    -------------------------------------------------------------------------
	    Supplementary information
	    Cash paid during the period for:
	      Interest                                     $       988   $        71
	      Income taxes                                         334             -
	    -------------------------------------------------------------------------
	    -------------------------------------------------------------------------

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



	    Notes to Consolidated Financial Statements

	    Three months ended March 31, 2008 and 2007

	    (All dollar amounts are stated in United States dollars unless otherwise
	    indicated. Tables are expressed in thousands of United States dollars,
	    except share and per share amounts. Unaudited)

	    Note 1  Basis of Presentation

	    The accompanying unaudited interim consolidated financial statements for
	    Northgate Minerals Corporation ("Northgate" or the "Corporation") have
	    been prepared in accordance with generally accepted accounting principles
	    in Canada ("Canadian GAAP"). They do not include all the disclosures
	    required by Canadian GAAP for annual financial statements and should be
	    read in conjunction with the Corporation's consolidated financial
	    statements and the notes thereto included in the Corporation's Annual
	    Report for the year ended December 31, 2007. In the opinion of
	    management, all adjustments considered necessary for fair presentation
	    have been included in these financial statements.

	    Except as disclosed in Notes 3 and 4 below, these financial statements
	    are prepared using the same accounting policies and methods of
	    application as those disclosed in Note 2 to the Corporation's
	    consolidated financial statements for the year ended December 31, 2007.

	    Note 2  Acquisition of Perseverance

	    On February 18, 2008, the Corporation completed its acquisition of
	    Perseverance Corporation Limited ("Perseverance"), an Australian gold
	    producer with two fully permitted gold mines in the state of Victoria.
	    Perseverance's major assets were the Stawell Gold Mine, approximately
	    250 km west of Melbourne, and the Fosterville Gold Mine, located
	    20 km east of Bendigo in central Victoria.

	    The acquisition was accounted for as a business combination using the
	    purchase method. The results of Perseverance have been included in the
	    consolidated financial statements of the Corporation from
	    February 19, 2008 inclusive. As part of the acquisition, the Corporation
	    acquired for cash consideration all the issued and outstanding ordinary
	    shares and warrants, convertible subordinated notes, executive options,
	    bank debt and gold forward contracts of Perseverance. The purchase price
	    of the acquisition was calculated as follows:

	    -------------------------------------------------------------------------
	    Cash consideration to acquire:
	      Ordinary shares and warrants                              $    175,527
	      Convertible subordinated notes                                  34,267
	      Executive options                                                  722
	      Bank debt                                                       29,486
	    Transaction costs                                                  3,673
	    -------------------------------------------------------------------------
	                                                                $    243,675
	    -------------------------------------------------------------------------
	    -------------------------------------------------------------------------

	    The following table sets forth a preliminary allocation of the purchase
	    price to the assets and liabilities acquired, based on preliminary
	    estimates of fair value. The final valuations of major items such as
	    mineral property, plant and equipment, intangible assets, mineral and
	    exploration rights, asset retirement obligations and deferred income tax
	    assets and liabilities are not yet complete due to the inherent
	    complexity associated with the valuations. This is a preliminary purchase
	    price allocation and therefore subject to adjustment on completion of the
	    valuation process and analysis of the resulting tax effects.

	    -------------------------------------------------------------------------
	    Cash and cash equivalents                                   $     14,306
	    Accounts receivable                                               10,142
	    Inventories                                                       10,120
	    Mineral property, plant and equipment                            245,155
	    Mineral and exploration rights                                    10,592
	    -------------------------------------------------------------------------
	                                                                $    290,315
	    -------------------------------------------------------------------------
	    -------------------------------------------------------------------------
	    Accounts payable and accrued liabilities                          30,254
	    Other long-term liabilities                                        1,686
	    Site closure and reclamation costs                                 8,982
	    Gold forward contracts                                            65,111
	    Future income tax liability                                       11,390
	    Goodwill                                                          70,783
	    -------------------------------------------------------------------------
	                                                                $    243,675
	    -------------------------------------------------------------------------
	    -------------------------------------------------------------------------

	    Note 3  Significant Accounting Policies

	    As a result of the acquisition of Perseverance, the Corporation has
	    adopted the following accounting policies associated with the related
	    operations acquired:

	    A.  Inventories

	    Inventories of unshipped gold dor are recorded at the lower of
	    production costs on a first-in, first-out basis, and net realizable
	    value. Work-in-process inventories (gold in circuit) are valued at the
	    lower of average production costs or net realizable value. Production
	    costs include costs related to mining, crushing, mill processing, as well
	    as depreciation on production assets and certain allocations of mine-site
	    overhead expenses attributable to the production process, as applicable.

	    B.  Mineral Property, Plant and Equipment

	    Certain underground development costs, which are incurred to enable
	    physical access to ore underground, may be capitalized. Capitalized
	    development costs must be linked to specific ore blocks or mine areas for
	    which they provide physical access. Amortization is recorded using the
	    units of production method based on proven and probable reserves within
	    the specific ore block or area. Infrastructure and underground
	    development costs that provide a benefit over the entire mine life are
	    amortized using the units of production method, based on accessible
	    proven and probable mineral reserves at the mine.

	    For underground mining, any development not directly related to stope
	    production intended for use over a period exceeding two years is
	    considered deferred development, which is capitalized. Such activities
	    generally include development of shafts, access ramps, main crosscuts,
	    main level drifts, ore and waste passes and ventilation raises.

	    Similarly, exploration drifts and drill holes used to establish probable
	    reserves and resources that will not be mined before two years are also
	    considered deferred development. Definition drilling used to establish
	    mining reserves that will be mined in less than two years are considered
	    an operating cost.

	    Deferred development costs include all costs directly related to
	    development, as well as a proportion of the costs related to direct
	    supervision, supervision of mechanical and electrical services,
	    engineering and geology, and the cost of power used by the equipment.

	    C.  Revenue Recognition

	    The Corporation recognizes revenue from the sale of its gold dor upon
	    delivery, which is when the dor is picked up by the customer's agent at
	    the mine site. At this point, the risks and rewards of ownership have
	    passed to the buyer and the price is reasonably determinable.

	    D.  Foreign Currency Translation

	    The Corporation's primary currency of measurement and display is the
	    United States dollar (US$). The measurement currency of Perseverance is
	    the Australian dollar (A$).

	    The financial statements of Perseverance are translated into United
	    States dollars using the current rate method. Under this method, all
	    assets and liabilities are translated at the exchange rate in effect at
	    the balance sheet date. Revenues and expenses are translated at rates of
	    exchange in effect during the period. Gains and losses on translation are
	    included in equity as a separate component of other comprehensive income.
	    In the period ending March 31, 2008, the Corporation recognized a gain of
	    $6,000 in other comprehensive income from the translation of the
	    financial statements of self-sustaining operations.

	    E.  Goodwill

	    When accounting for business combinations under the purchase method, the
	    excess of the purchase price over the fair value of assets acquired and
	    liabilities assumed at the date of acquisition is recorded as goodwill.
	    Goodwill is assigned to the reporting units and is not amortized.

	    The Corporation evaluates, on at least an annual basis, the carrying
	    amount of goodwill to determine whether events and circumstances indicate
	    that such carrying amount is impaired. To accomplish this, the
	    Corporation compares the fair value of the reporting units to which
	    goodwill was allocated to their carrying value. If the carrying amount of
	    a reporting unit exceeds its fair value, the Corporation would recognize
	    an impairment in results from operations equal to the difference between
	    the implied fair value of the reporting unit's goodwill and its carrying
	    amount.

	    Note 4  Adoption of New Accounting Standards

	    On January 1, 2008, the Corporation adopted the Canadian Institute of
	    Chartered Accountants ("CICA") Handbook Sections 1535, Capital
	    Disclosures; Section 3031, Inventories; Section 3862, Financial
	    Instruments - Disclosures; Section 3863, Financial Instruments -
	    Presentation; and Section 1400, Financial Statement Presentation. In
	    accordance with the transitional provisions, prior periods have not been
	    restated. The principal changes resulting from these new standards are
	    described below:

	    Capital Disclosures

	    Section 1535 establishes standards for disclosing information about the
	    Corporation's capital and how it is managed. The required disclosures
	    with respects to capital management have been included in Note 7 to these
	    interim financial statements.

	    Inventories

	    Section 3031 establishes standards for the determination of inventory
	    cost and its subsequent recognition as an expense, including any
	    write-down to net realizable value. In addition, in certain
	    circumstances, write-downs of inventory previously recognized may be
	    reversed. This section has been applied retroactively without restatement
	    of prior year comparative amounts. Upon adoption of this standard, an
	    adjustment to supplies inventory of $1,032,000 was recognized to
	    reclassify items not meeting the definition of inventory, including
	    significant long-term capital and insurance spares, to property, plant
	    and equipment. A related decrease to opening retained earnings of
	    $381,000 was recognized to adjust for accumulated depreciation on the
	    spares.

	    Further upon adoption of this standard, the Corporation changed its
	    valuation of supplies inventory from the lower of cost and replacement
	    cost to the lower of cost and net realizable value. This change in
	    valuation had no impact on the Corporation's financial statements.

	    Financial Instruments - Disclosures and Presentation

	    Section 3862, Financial Instruments - Disclosures expands on the types
	    and nature of disclosures required with respects to an entity's use and
	    exposure from financial instruments. Adoption of this standard resulted
	    in more detailed disclosures in the notes to financial statements. These
	    disclosures are included in Note 9.

	    Section 3863, Financial Instruments - Presentation establishes the
	    standards for the classification of financial instruments as liabilities
	    or equity and the classification of related gains, income, and/or losses
	    in the statement of operations. The adoption of these standards did not
	    result in any changes to the Corporation's financial statements.

	    Financial Statement Presentation

	    Section 1400, General Standards of Financial Statement Presentation was
	    amended to include requirements to asses and disclose an entity's ability
	    to continue as a going concern. Currently, the amended requirements have
	    no impact on the Corporation's financial statements.

	    Note 5  Inventories and Cost of Sales

	                                                      March 31   December 31
	                                                          2008          2007
	    -------------------------------------------------------------------------
	    Concentrate and unshipped gold dor           $     17,880  $     10,501
	    Gold in circuit                                      1,461             -
	    Stockpiled ore                                      15,243        11,871
	    Supplies                                            18,135        12,862
	    -------------------------------------------------------------------------
	                                                  $     52,719  $     35,234
	    -------------------------------------------------------------------------
	    -------------------------------------------------------------------------

	    The cost of sales balance on the statement of operations is comprised of
	    the following items:

	                                                       Q1 2008       Q1 2007
	    -------------------------------------------------------------------------
	    Change in inventory                           $     (6,569) $     (4,368)
	    Mining and milling costs                            47,898        30,039
	    Marketing and other costs                           21,426        21,315
	    -------------------------------------------------------------------------
	                                                  $     62,755  $     46,986
	    -------------------------------------------------------------------------

	    The change in inventory balance does not include depreciation and
	    depletion of $1,441,000 (2007 - $2,422,000), which was included in
	    inventory. Depreciation and depletion is included in depreciation expense
	    in the statement of operations when the related inventory is sold.

	    Note 6  Investments

	    The Corporation maintains a portion of its investments in auction rate
	    securities ("ARS"), which are floating rate securities that are marketed
	    by financial institutions with auction reset dates at 7, 28, or 35 day
	    intervals to provide short-term liquidity. All ARS were rated AAA when
	    purchased, pursuant to the Corporation's investment policy. Beginning in
	    August 2007, a number of auctions began to fail and the Corporation is
	    holding ARS with a par value of $72,600,000, which currently lack
	    liquidity. The Corporation's ARS investments were originally structured
	    and marketed by a major US investment bank.

	    The estimated fair value of the Corporation's ARS holdings at March 31,
	    2008 was $64,397,000, which reflects a $5,000,000 adjustment to the
	    December 31, 2007 estimated fair value of $69,397,000. This adjustment
	    was recorded into other comprehensive income as the Corporation believes
	    this decline in value to be temporary. All of the ARS investments have
	    continued to make regular interest payments. Further, approximately 57%
	    of the ARS investments are insured by bond insurer institutions (monoline
	    insurers).

	    In estimating the fair value of ARS, the Corporation considered various
	    variables, including trading levels of comparable securities markets, the
	    Corporation's rank within the capital structure of the individual ARS
	    issuers, the credit circumstances of financial guarantors, and the
	    investments and reserves held by the issuers.

	    Rating agencies such as S&P, Moody's and Fitch continue to monitor the
	    credit rating of monoline insurers. During the quarter, a number of bond
	    insurers were downgraded by certain rating agencies, which in some cases
	    resulted in a downgrade of the AAA securities insured by those
	    institutions. All of the Corporation's uninsured ARS continue to be rated
	    AAA and Aaa, as applicable.

	    The Corporation has no investments in asset backed commercial paper,
	    mortgage backed securities or collateralized debt obligations.

	    If uncertainties in the credit and capital markets persist or the credit
	    ratings of its ARS holdings are downgraded further, the Corporation may
	    incur impairments, which may be judged to be other than temporary and
	    result in the recognition of an impairment loss in net earnings.

	    Note 7  Capital Management

	    The Corporation's objective when managing capital is to maintain a strong
	    capital base so as to maintain investor, creditor and market confidence
	    and to sustain future development and growth.

	    The Corporation sets the amount of capital in proportion to risk by
	    managing the capital structure and making adjustments to it in light of
	    changes in economic conditions and the risk characteristics of the
	    underlying assets. In order to maintain or adjust the capital structure,
	    the Corporation may issue new shares or seek debt financing.

	    Other long-term liabilities include mark-to-market losses on copper
	    forward contracts. The Corporation is required to maintain a margin
	    account which may require further deposits based on copper prices. The
	    Corporation's short-term loan is from the same US investment bank which
	    structured and marketed the Corporation's ARS investments. The loan is
	    secured by the ARS investments. The Corporation's closure plans require
	    the company to post closure bonds and deposits from time to time. Costs
	    of reclamation are accrued for as an asset retirement obligation and
	    deposits are recorded in other assets.

	    Neither the Corporation nor any of its subsidiaries are subject to any
	    other externally imposed capital requirements such as loan covenants or
	    capital ratios. There were no changes to the Corporation's approach to
	    capital management during the three months ended March 31, 2008.

	    Note 8  Stock Based Compensation

	    During the three months ended March 31, 2008, the Corporation granted a
	    total of 1,480,000 (2007 - 1,425,000) options to employees, with a term
	    of seven years. 1,460,000 of these options are exercisable at
	    Cdn$2.97 per share and 20,000 are exercisable at Cdn$3.19 per share. Of
	    the options granted, 274,800 vested immediately, 1,099,200 vest in equal
	    amounts on the anniversary date of the grant over the next four years and
	    106,000 vest over five years. The fair value of the options granted for
	    the three months ended March 31, 2008 was $2,087,000 (2007 - $2,500,000).
	    During the three months ended March 31, 2008, $853,000 (2007 - $759,000)
	    of stock-based compensation was recognized related to outstanding stock
	    options.

	    During the three months ended March 31, 2008, a total of 27,000 options
	    were cancelled and 736,300 options were exercised.

	    At March 31, 2008, there were 5,913,300 options outstanding, of which
	    3,164,400 were exercisable.

	    The fair value of the share options granted during the three months ended
	    March 31, 2008 and 2007 was estimated using the Black-Scholes pricing
	    model with the following assumptions:

	                                                   For Options   For Options
	                                                    Granted in    Granted in
	                                                       Q1 2008       Q1 2007
	    -------------------------------------------------------------------------
	    Risk-free interest rate                              3.74%         3.94%
	    Annual dividends                                         -             -
	    Expected stock price volatility                      49.5%         53.4%
	    Expected option life                             5.0 years     5.0 years
	    Per share fair value of options granted
	     (Cdn$)                                              $1.42         $2.05
	    -------------------------------------------------------------------------
	    -------------------------------------------------------------------------

	    Note 9  Financial Instruments

	    Financial Risk Management

	    The Corporation has exposure to credit risk, liquidity risk and market
	    risk from its use of financial instruments.

	    Credit Risk

	    Credit risk is the risk of potential loss to the Corporation if a
	    customer or counterparty to a financial instrument fails to meet its
	    contractual obligations. It arises principally from the Corporation's
	    receivables and investment securities. It may also arise on the
	    Corporation's copper forward contracts.

	    In general, the Corporation manages its credit exposure with respect to
	    operational matters by transacting only with reputable, highly-rated
	    counterparties. The Corporation monitors the financial condition of its
	    customers and counterparties to contracts.

	    Gold dor produced in Australia is sold exclusively to AGR Matthey, a
	    reputable counterparty. The Corporation believes there are other buyers
	    in the marketplace that would buy the production under approximately the
	    same financial terms.

	    Concentrate produced at Kemess is sold under a long-term contract to
	    Xstrata Canada Corporation ("Xstrata"), a wholly owned subsidiary of the
	    publicly traded international mining company, Xstrata plc. Kemess
	    gold/copper concentrate is of a quality that is readily saleable to a
	    number of smelters under current market conditions. In the event that
	    Xstrata was unable to purchase the Kemess concentrate, it could be sold
	    to other smelters once appropriate logistical arrangements were put in
	    place.

	    The Corporation may also be exposed to credit risk on its copper forward
	    contracts to the extent that the counterparty fails to meet its
	    contractual obligation. The Corporation manages this risk by contracting
	    only with a reputable counterparty and monitoring the party's financial
	    condition. At March 31, 2008 there is no credit risk as the Corporation's
	    forward contracts have an unrealized loss, which the Corporation has
	    recognized a liability.

	    The Corporation limits its exposure to credit risk on investments by
	    investing only in securities rated AAA by credit rating agencies such as
	    S&P and Moody's. Management continuously monitors the fair value of its
	    investments, including ARS (refer to note 6) to determine potential
	    credit exposures. Short-term excess cash is invested in R1/P1/A1 rated
	    investments including money market funds, direct obligation commercial
	    paper, bankers' acceptances and other highly rated short-term investment
	    instruments, which are recorded as cash and cash equivalents.

	    Any credit risk exposure on cash balances is considered negligible as the
	    Corporation places deposits only with major established banks in the
	    countries in which it carries on operations.

	    The carrying amount of financial assets represents the maximum credit
	    exposure. As at March 31, 2008, the Corporation's gross credit exposure
	    is as follows:

	                                                                     Q1 2008
	    -------------------------------------------------------------------------
	    Cash and cash equivalents                                   $     52,688
	    Concentrate settlements and other receivables                     37,933
	    Other assets (restricted cash)                                    47,407
	    Auction rate securities                                           64,397
	    -------------------------------------------------------------------------
	                                                                $    202,425
	    -------------------------------------------------------------------------
	    -------------------------------------------------------------------------

	    Liquidity Risk

	    Liquidity risk is the risk that the company will not be able to meet its
	    financial obligations as they fall due. The Corporation manages this risk
	    such that it will have the ability to discharge its liabilities when due,
	    both under normal and stressed conditions, without incurring significant
	    losses or risking damage to the Corporation's reputation.

	    The Corporation uses detailed cash forecasts to ensure cash is available
	    to discharge its obligations when they come due. Cash needed for this
	    purpose is invested in highly liquid investments.

	    Significant cash commitments are as follows:

	                                  1 Year   2-3 Years   4-5 Years       Total
	    -------------------------------------------------------------------------
	    Accounts payable and
	     accrued liabilities      $   58,658  $        -  $        -  $   58,658
	    Capital lease
	     obligations
	     (including interest
	     component)                    4,012         807           -       4,819
	    Operating leases                 648         648           -       1,296
	    Copper forward
	     contracts (1)                 3,669      33,674           -      37,343
	    Short-term loan (2)           45,038           -           -      45,308
	    Asset retirement
	     obligation (3)                7,530      33,675      19,722      60,927
	    Closure bonding
	     requirement                   1,102         810           -       1,912
	    -------------------------------------------------------------------------

	    (1) The copper forward contracts are undiscounted. The payments assume
	        forward rates at March 31, 2008 and that these rates will remain
	        consistent over the life of the contracts.

	    (2) The loan matures June 6, 2008 and is collateralized by the
	        Corporation's ARS investments. The loan excludes interest to maturity
	        as all interest received on collateral backing the loan will be
	        automatically applied to the interest and principal.

	    (3) The asset retirement obligations are undiscounted. The Kemess South
	        and Young-Davidson portion of the asset retirement obligation is
	        backed by Cdn$17,409,000 in security bonds included in other assets.
	        The Stawell and Fosterville portion is backed by A$10,247,000 in
	        security bonds also included in other assets.

	    Market Risk

	    Market risk is the risk that changes in market prices, such as commodity
	    prices, foreign exchange rates and interest rates, will affect the
	    Corporation's income or the value of its holdings of financial
	    instruments. The Corporation manages this risk such that it controls this
	    exposure within acceptable parameters while optimizing the return on
	    risk.

	    Commodity Price Risk - The Corporation is exposed to commodity price risk
	    through the price of gold and copper and also through various input
	    prices such as fuel and electricity. The Board of Directors has
	    established a Hedging Committee, which assists management in the
	    identification and analysis of price risks and potential strategies to
	    mitigate this risk.

	    The Corporation reviews major input prices on a regular basis and may
	    enter into long-term contracts to mitigate the price volatility.

	    The Corporation monitors the price of commodities continuously and
	    considers the risk exposure to fluctuating prices. In managing that risk,
	    the Corporation is cognizant that investors generally seek exposure to
	    the underlying commodities, particularly gold, through their investment.

	    The Corporation has entered into forward sales contracts with a major
	    financial institution to fix the price for delivered copper for which
	    final settlement has not occurred, and in certain cases, for future
	    production. A total volume of 19,225 metric tonnes of copper were sold
	    forward using LME contracts as at March 31, 2008. This includes
	    3,025 metric tonnes that mature in April 2008 at a forward price of
	    $3.30 per pound and 16,200 metric tonnes that mature from November 2009
	    through October 2010 at an average forward price of $2.52 per pound. The
	    Corporation also entered into separate forward purchase contracts with
	    the same institution to repurchase its forward sales position at monthly
	    average Cash LME prices over the same period. The volume of forward sales
	    and purchases in each future contract month match the expected future
	    pricing periods for copper in concentrate delivered to Xstrata under a
	    multi-year concentrate sales agreement. The copper forward sales and
	    purchase contracts are being recognized on a mark-to-market basis. The
	    fair value of these contracts at March 31, 2008 was a liability of
	    $34,296,000 of which $3,655,000 is included in accrued liabilities and
	    $30,641,000 is included in other long-term liabilities. At December 31,
	    2007, the fair value was a net liability of $4,965,000 of which a
	    receivable of $7,124,000 was included in concentrate settlements and
	    other receivables and a liability of $12,089,000 was included in other
	    long-term liabilities.

	    A change of $ 0.05 per pound in the forward price of copper would have
	    increased or decreased the fair value of these contracts and consequently
	    net income before taxes by $332,000 for the three months ended
	    March 31, 2008.

	    All of the Corporation's future gold production is unhedged and is fully
	    exposed to future price movements.

	    Gold and copper sales agreements include provisions where final prices
	    are determined by quoted market prices in a period subsequent to the date
	    of sale. Revenue and the related receivables are based on forward prices
	    for the expected date of final settlement. These financial assets are
	    therefore exposed to movements in the commodity price. A change of
	    $0.05 per pound in the price of copper would have increased or decreased
	    the related receivables and net income before taxes by $1,010,000 for the
	    three months ended March 31, 2008. A $10 per ounce change in the price of
	    gold would have increased or decreased the related receivables and net
	    income before taxes by $289,000 for the three months ended
	    March 31, 2008.

	    Currency Risk - The Corporation is exposed to currency risk on its
	    financial assets and liabilities denominated in other than United States
	    dollars or, in the case of its Australian operations, other than the
	    Australian dollar. The Corporation incurs a significant amount of its
	    operating costs in Canadian dollars.

	    A 10% change of the US dollar against the Canadian dollar would have
	    increased or decreased net income before taxes by $311,000 for the three
	    months ended March 31, 2008. This analysis assumes that all other
	    variables, in particular interest rates, remain constant.

	    Interest Rate Risk - The Corporation is exposed to interest rate risk on
	    its short-term loan and its capital leases. The short-term loan bears
	    interest at LIBOR plus 100 basis points. The capital leases bear interest
	    at a fixed rate.

	    A change of 50 basis points in the LIBOR rate would have increased or
	    decreased net income before taxes by $54,000 for the three months ending
	    March 31, 2008. This assumes all other variables, in particular foreign
	    currency rates, remain constant.

	    Fair Values

	    The carrying values of cash and cash equivalents, accounts receivable,
	    restricted cash, and accounts payable and accrued liabilities approximate
	    fair values due to their short terms to maturity or ability to readily
	    convert to cash. The carrying values of capital lease obligations and the
	    short-term credit facility approximate fair values as they bear interest
	    based on market rates of interest.

	    The fair value of investments in equity securities classified as
	    available for sale is determined using bid prices at the balance sheet
	    date with any unrealized gains or losses recognized in other
	    comprehensive income. The fair value of ARS investments is determined
	    based on third party valuation and other observable variables, which are
	    discussed in Note 6.

	    Commodity contracts are valued by determining the difference between
	    contractual forward rates and the current forward prices for the residual
	    maturity of the contracts. When in a gain position, the fair value of the
	    contracts is discounted to the balance sheet date using the 12 month
	    LIBOR rate at that date, plus a spread representing the risk premium of
	    the counterparty. When in a loss position, a spread representing the risk
	    premium of Northgate is added to LIBOR for the discounting of the fair
	    value of the contracts. The change in fair value of the forward contracts
	    recognized in the results from operations was $30,920,000 for the three
	    months ended March 31, 2008, which includes amounts settled during the
	    period.

	    Note 10  Segmented Information

	    In prior years, the Corporation considered itself to operate in a single
	    segment being gold and copper mining and related activities including
	    exploration, development, mining and processing in Canada. In the current
	    period, the Corporation has identified separate segments for financial
	    reporting.

	    The Corporation's primary segment reporting basis is by individual mine
	    as the assessment of performance and resource allocation decisions are
	    made on the same basis. The Corporate segment includes costs incurred for
	    corporate activity in both Canada and Australia as well as revenues and
	    costs that are not attributable to the individual mines for performance
	    assessment. Hedging activity and exploration costs are also included in
	    the Corporate segment as the decisions concerning these expenditures are
	    approved at the senior management level.

	    The operating segment results for the three months ending March 31, 2008
	    are as follows:

	                                               Foster-
	                          Kemess    Stawell      ville  Corporate      Total
	    -------------------------------------------------------------------------
	    Revenues           $ 104,016  $  11,739  $   4,398  $ (34,060) $  86,093
	    Depreciation           7,745      3,387      1,667         52     12,851
	    Exploration              219        412        175      5,355      6,161
	    Net interest
	     revenue                 200         44         26      3,342      3,612
	    Earnings (loss)
	     from operations,
	     before tax           47,039        683     (3,781)   (22,195)    21,746
	    -------------------------------------------------------------------------
	    Capital
	     Expenditures          1,789      2,622      2,596         90      7,097
	    Goodwill (1)               -          -          -     70,783     70,783
	    Total Assets         194,532    145,681    145,857    229,555    715,625
	    -------------------------------------------------------------------------
	    -------------------------------------------------------------------------

	    (1) In finalizing the purchase price allocation for the acquisition of
	        Perseverance, the goodwill will be allocated to the reporting units
	        to which it relates. This process is still in progress and will be
	        updated in future periods.

	    Metal sales and mineral property, plant and equipment per geographical
	    region for the three months ending March 31, 2008, are as follows:

	                                                          Mineral property,
	                                                        plant and equipment,
	                                    Metal Sales             and goodwill

	                                                                     Dec. 31,
	                                 Q1 2008     Q1 2007     Q1 2008        2007
	    -------------------------------------------------------------------------
	    Canada                    $   69,956  $   74,313  $  185,969  $  121,337
	    Australia                     16,137           -     255,774           -
	    -------------------------------------------------------------------------
	                              $   86,093  $   74,313  $  441,743  $  121,337
	    -------------------------------------------------------------------------
	    -------------------------------------------------------------------------

	    Metal sales are disclosed net of the effect of hedging.

	    The Corporation has a multi-year agreement with Xstrata for the shipment
	    and sale of Kemess gold-copper concentrate. The Corporation has a similar
	    arrangement with AGR Matthey for gold dor bars produced at the
	    Fosterville and Stawell mines.

	    Note 11  New Accounting Pronouncements

	    Goodwill and Intangible Assets

	    In February 2008, the CICA issued Section 3064, Goodwill and Intangible
	    Assets which replaces Section 3062, Goodwill and Other Intangible Assets
	    and Section 3450, Research and Development Costs. The new section
	    establishes standards for the recognition, measurement and disclosure of
	    goodwill and intangible assets and harmonizes this standard with
	    International Financial Reporting Standard IAS 38, Intangible Assets. The
	    new requirements are effective for fiscal years beginning on or after
	    October 1, 2008. The Corporation is in the process of assessing the
	    effect this new standard will have on its results of operations of
	    financial position.

	    Conversion to International Financial Reporting Standards

	    On February 13, 2008, the Accounting Standards Board announced that
	    publicly accountable entities will be required to prepare financial
	    statements in accordance with International Financial Reporting
	    Standards (IFRS) for interim and annual financial statements for fiscal
	    years beginning on or after January 1, 2011. The Corporation is currently
	    assessing the impact of the conversion on the consolidated financial
	    statements and disclosures and will develop a conversion implementation
	    plan.
	    >>
	    %CIK: 0000072931

	    /For further information: Ms. Keren R. Yun, Director, Investor Relations,
Tel: (416) 216-2781, Email: ngx(at)northgateminerals.com, Website:
www.northgateminerals.com/
	    (NGX. NXG)

CO:  Northgate Minerals Corporation

CNW 02:12e 02-MAY-08