Northern Dynasty comments on Environmental Protection Agency’s statement on future actions regarding Alaska’s Pebble Project
Northern Dynasty comments on Environmental Protection Agency’s statement on future actions
regarding Alaska’s Pebble Project
December 1, 2021 Vancouver – Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE American: NAK) ("Northern
Dynasty" or the "Company") comments on the November 17 , 2021 press release by the U.S. Environmental
Protection Agency (“EPA”) in which the EPA extended the deadline to either withdraw the 2014 Proposed
Determination or to prepare a Recommended Determination regarding the Pebble Project in Southwest Alaska.
“While it is not yet known what action, if any, the EPA will finally take, we are cautiously optimistic about their
commitment to consider new information that has become available since the 2014 Proposed Determination and
to make science-based decisions,” said Ron Thiessen, President and CEO of Northern Dynasty. “ We do not know
which new information they may use in their decision, but we believe that the strong administrative record of the
overwhelmingly positive Final Environmental Impact Statement of 2020 that was prepared by the U.S. Army Corps
of Engineers should be an important part of it.”
“We are also pleased that the EPA has established a timetable for their review, with the recent extension through
the end of May of 2022. This action suggests their intention is to comply with the regulations and not let the
Proposed Determination languish, therefore attempting to regulate by inaction. We do caution, however, that we
understand that the deadline can be extended further at the EPA’s option.” Mr. Thiessen added.
In a statement communicated with media, the Pebble Limited Partnership wrote:
“The EPA’s announcement that it wants to “consider new information available” essentially recognizes the fact
that we submitted an actual detailed mine plan and initiated the NEPA review process with the U.S. Army Corps
of Engineers. This resulted in the publication of an EIS for the Pebble Project that shows it can be developed
without harm to the Bristol Bay fishery while providing substantial benefits to the communities closest to the
project. It is also worth noting that the EPA did not have this significant volume of detailed technical information
when it took unprecedented preemptive action against the project. We will work to ensure this is fully
understood by the EPA especially at a time when the nation will need the minerals Pebble could provide to help
the country utilize more sources of renewable energy and is in line with the administration’s climate change
agenda.“
“We echo recent comments from BHP and others that the global markets will need double the amount of copper
in the next 30 years than it did in the past 30 years to facilitate a decarbonized economy. The U.S. has significant
copper resources within its borders, all it needs to do is develop them.” said Mr. Thiessen.
About Northern Dynasty Minerals Ltd.
Northern Dynasty is a mineral exp loration 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, is a 100% interest in a contiguous block of 1,840 mineral claims in Southwest Alaska, including the
Pebble deposit, located 200 miles from Anchorage and 125 miles from Bristol Bay. The Pebble Partnership is the
proponent of the Pebble Project, an initiative to develop one of 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 U.S. public filings at www.sec.gov.
Ronald W. Thiessen
President & CEO
U.S. Media Contact:
Dan Gagnier, Gagnier Communications (646) 569-5897
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Forward Looking Information and other Cautionary Factors
This release includes certain statements that may be deemed "forward-looking statements" under the United States Private Securities
Litigation Reform Act of 1995 and under applicable provisions of Canadian provincial securities laws . All statements in this release,
other than statements of historical facts, which address permitting, development and production for the Pebble Project are forward-
looking statements. These include statements regarding (i) the mine plan for the Pebble Project , (ii) the social integration of the
Pebble Project into the Bristol Bay region and benefits for Alaska, (iii) the political and public support for the permitting process, (iv)
the ability to successfully appeal the negative Record of Decision and secure the issuance of a positive Record of Decision by the U.S.
Army Corps of Engineers and the ability of the Pebble Project to secure all required federal and state permits, (v) the right-sizing and
de-risking of the Pebble Project, (vi) the design and operating parameters for the Pebble Project mine plan, including projected capital
and operating costs , (vii) exploration potential of the Pebble Project, (viii) future demand for copper and gold, (ix) the potential
addition of partners in the Pebble Project, (x) the EPA’s Proposed Determination process under the CWA and the impact of this
process on the ability of the Pebble Partnership to develop the Pebble Project and (xi) the ability and timetable of NDM to develop
the Pebble Project. Although NDM believes the expectations expressed in these forward-looking statements are based on reasonable
assumptions, such statements should not be in any way be construed as guarantees that the Pebble Project will secure all requ ired
government permits, establish the commercial feasibility of the Pebble Project, achieve the required financing or develop the Pebble
Project.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by
NDM as of the date of such statem ents, are inherently subject to significant business, economic and competitive uncertainties and
contingencies. 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) any feasibility
studies prepared for the development of the Pebble Project will be positive, (iii) NDM’s estimates of mineral resources will not change,
and NDM will be successful in converting mineral resources to mineral reserves, (iv) NDM will be able to establish the commercial
feasibility of the Pebble Project, (v) NDM will be able to secure the financing required to develop the Pebble Project , and (vi) any
action taken by the EPA in connection with the Proposed Determination will ultimately not be successfully in restricting or prohibiting
development of the Pebble Project. The likelihood of future mining at the Pebble Project 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 c hanges
in government policies, (ii) finalization of the mine plan for the Pebble Project, (iii) the completion of feasibility studies demonstrating
that any Pebble Project mineral resources that can be economically mined, (iv) completion of all necessary e ngineering for mining
and processing facilities, (v) the ability of NDM to secure a partner for the development of the Pebble Project, and (vi) rec eipt 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. NDM is also subject to the specific risks inherent in the mining business
as well as general economic and business conditions, such as the current uncertainties with regard to COVID -19. Investors should
also consider the risk factors identified in its Annual Information Form for the year ended December 31, 2020, as filed on SEDAR and
included in the Company’s annual report on Form 40-F filed by the Company with the SEC on EDGAR.
The National Environment Policy Act Environmental Impact Statement process requires a comprehensive “alternatives assessment”
be undertaken to consider a broad range of development alternatives, the final project design and operatin g parameters for the
Pebble Project and associated infrastructure may vary significantly from that currently contemplated.
For more information on the Company, Investors should review the Company's filings with the United States Securities and Exchange
Commission at www.sec.gov and its home jurisdiction filings that are available at www.sedar.com.