Northern Dynasty: Alaska’s Pebble Project has potential to become one of America’s leading metals producers

Northern Dynasty: Alaska’s Pebble Project has potential to become one of America’s leading metals

producers

July 21, 2020 Vancouver – Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE American: NAK) ("Northern

Dynasty" or the "Company") reports that its 100% -owned US-based subsidiary Pebble Limited Partnership

(the ”Pebble Partnership”) released a public statement today commenting on future production potential

from the proposed Pebble mine project, noting it is poised to become one of the leading metals producers in

the United States.

The Pebble Partnership release states:

“With a Final Environmental Impact Statement (EIS) and Record of Decision (ROD) for the proposed Pebble

copper-gold-molybdenum mine project in southwest Alaska expected this summer, Pebble Partnership CEO

Tom Collier noted it appears more and more likely that Alaska could become home to another significant

metals producer.

“The lead federal regulator for the Pebble Project, the U.S. Army Corps of Engineers (USACE), has signaled

its intent to publish a Final EIS on July 24 and a ROD shortly thereafter. Pebble’s Collier said the Draft EIS

published by the USACE last year, and subsequent contributions from the U.S. Environmental Protection

Agency, U.S. Fish & Wildlife Service, the State of Alaska, tribal entities and other cooperating agencies,

point toward a positive outcome for the federal permitting process.

“’We have reason to believe that Pebble will be judged to be a project of merit, and will receive its key

federal permits under the Clean Water Act and River & Harbors Act this summer,’ he said. “The next steps

facing the company and the project will be to secure a major funding partner and acquire the state permits

necessary to take Pebble into production.’

“State permitting for Pebble is expected to take 2 – 3 years to complete, followed by a four-year

construction phase. Once operating, Pebble will be among the leading metals producers in the United

States. As described in the Project Description1, each year during 20 years of production the proposed

Pebble mine would produce mineral concentrates containing, on average:

• 318 million lb copper;

• 362,000 oz gold;

• 14 million lb molybdenum; and

• 1.8 million oz of silver.

“Collier said Pebble has the potential to be the third largest copper producer in the United States

(producing ~12% of US output annually) and the fourth largest gold producer (producing ~6% of US output

each year). It also contains rhenium, a relatively rare element used in jet engines and high-octane fuels, and

palladium, a precious metal employed in fuel cells and catalytic convertors, among other applications.

“Depending on prevailing market prices, about 60% and 30% of the annual value of production at Pebble

will be derived from copper and gold respectively, with the balance coming from other metals.

“’There’s absolutely no doubt there is growing domestic and international market demand for the metal

commodities Pebble will produce,’ Collier said. ‘Whether it’s surging demand for copper to facilitate the US

and global transition to a low carbon future, the increasing demand for gold we’re seeing in the current

economic climate or the other strategic metals our mine will produce, the world needs Pebble.’

1 See https://pebbleprojecteis.com/

“America’s transition away from fossil fuels and toward clean and renewable sources of power will be

particularly copper-intensive, as will the requirement for smart grid technology to make the nation’s energy

transmission and distribution system more efficient. Electric and hybrid-electric cars, solar and wind power

installations, as well as the energy infrastructure required to enable these technologies, will all require

substantially more copper than the transportation and energy systems they replace.

“The US currently imports 35% of its annual copper needs from foreign producers, as well as 82% of its

rhenium, 68% of its silver and 32% of its palladium. For copper and many other strategic metals, America’s

import reliance is expected to grow in future as domestic demand rises faster than supply.

“’It in the United States’ best interest to develop reliable and long-term domestic sources of mineral

commodities like copper, gold, molybdenum, silver, rhenium and palladium – strategic metals that are

critical to the country’s economic, energy, military and industrial future,’ Collier said.

“’It is equally important to source these minerals from jurisdictions that are known to be leaders in

environmental protection, in conserving healthy fish and wildlife populations, as well as in environmental

justice and human rights. That description fits Alaska to a tee, and is one more reason why Pebble is poised

to become one of America’s leading metals producers.’”

Stephen Hodgson, PEng, Vice President Engineering for Northern Dynasty reviewed and approved the

technical information in this news release.

About Northern Dynasty Minerals Ltd.

Northern Dynasty is a mineral exploration and development company based in Vancouver, Canada. Northern

Dynasty's principal asset, owned through its wholly owned Alaska-based U.S. subsidiary, Pebble Limited

Partnership (“PLP”), is a 100% interest in a contiguous block of 2,402 mineral claims in southwest Alaska, including

the Pebble deposit. PLP is the proponent of the Pebble Project, an initiative to develop one o f the world's most

important mineral resources.

For further details on Northern Dynasty and the Pebble Project, please visit the Company's website at

www.northerndynastyminerals.com or contact Investor services at (604) 684-6365 or within North America at 1-

800-667-2114. Review Canadian public filings at www.sedar.com and US public filings at www.sec.gov.

Ronald W. Thiessen

President & CEO

US Media Contact:

Dan Gagnier

Gagnier Communications

(646) 569-5897

Forward Looking Information and other Cautionary Factors

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than

statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the Company

expects are forward -looking statements. Although the Company believes the expectations expressed in its forward -looking

statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of the ultimate

size, quality or commercial feasibility of the Pebble Project, that the Pebble Project will secure all required government pe rmits, or

of the Company's future performance.

Assumptions used by NDM to develop forward-looking statements include the assumptions that (i) the Pebble Project will obtain all

required environmental and other permits and all land use and other licenses without undue delay, (ii) studies for the develo pment

of the Pebble Project will be positive, (iii) NDM will be able to establish the commercial feasibility of the Pebble Project, and (iv) NDM

will be able to secure the financing required to develop the Pebble Project. The likelihood of future mining at the Pebble Pr oject is

subject to a large number of risks and will require achievement of a number of technical, economic and legal objectives, including (i)

obtaining necessary mining and construction permits, licenses and approvals without undue delay, including without delay due to

third party opposition or changes in government policies, (ii) the completion of feasibility studies demonstrating the Pebble Project

mineral reserves that can be economically mined, (iii) completion of all necessary engineering for mining and processing faci lities,

and (iv) re ceipt by NDM of significant additional financing to fund these objectives as well as funding mine construction, which

financing may not be available to NDM on acceptable terms or on any terms at all. The Company is also subject to the specific risks

inherent in the mining business as well as general economic and business conditions, as well as risks relating to the uncertainties with

respect to the effects of COVID-19.

The National Environment Policy Act EIS process requires a comprehensive “alternatives as sessment” be undertaken to consider a

broad range of development alternatives, the final project design and operating parameters for the Pebble Project and associa ted

infrastructure may vary significantly from that currently being advanced. As a result, th e Company will continue to consider various

development options and no final project design has been selected at this time.

For more information on the Company, Investors should review the Company's filings with the United States Securities and Exchange

Commission and its home jurisdiction filings that are available at www.sedar.com.