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Northgate Exploration Limited - Minerals North

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Kemess Mine Overview<br />

Located in north-central British Columbia<br />

Mining rate<br />

– 140,000 tonnes / day (average)<br />

Mill throughput<br />

– 52,000 tonnes / day<br />

Life of mine profile<br />

– 300,000 oz/y gold and 75 million lbs/y copper<br />

– Cash cost US$125/oz, net Cu @ 100¢/lb<br />

US$150/oz, net Cu @ 90¢/lb<br />

US$175/oz, net Cu @ 80¢/lb<br />

Reserves & Resources (at December 31, 2003)<br />

– Reserve: 91.7 million tonnes containing 2.1 million oz of gold and 459 million lbs copper<br />

– Resource: 52.2 million tonnes containing 0.82 million oz of gold and 192 million lbs copper

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