Northern Dynasty Issues Correction
Northern Dynasty Issues Correction
November 22, 2023 Vancouver – Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE American: NAK) (" Northern
Dynasty") reports that in a Crux Investor interview dated September 19, 2023, Northern Dynasty CEO Ron Thiessen
discussed the level of engineering conducted over the past two decades on the Pebble Project and may have left
the impression that the level of study is at a higher level t han that currently defined by its September 18, 2023
Preliminary Economic Assessment Technical Report. These statements about the Pebble project may be
potentially misleading. Northern Dynasty re-affirms that the September 18, 2023 report properly reflects the level
of study and retracts the pertinent statements made in the September 19, 2023 interview. Investors should not
rely upon these statements. Further, the September 18, 2023 Technical Report includes the use of inferred
mineral resources that ar e considered too geologically speculative to have the economic considerations applied
to them that would enable them to be categorized as mineral reserves.
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, is a 100% interest in a contiguous bl ock 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.
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 public filings, which in clude forward looking information cautionary language and risk
factor disclosure regarding the Company and the Pebble Project in Canada at www.sedarplus.ca and in the United
States at www.sec.gov.
Ronald W. Thiessen
President & CEO
U.S. 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" 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 outcome of the U.S. Army Corp of Engineers (“USACE”) remand and
the ability to successfully appeal the negative Record of Decision (“ROD”) and secure the issuance of a positive ROD by the U SACE,
(ii) the political and public support for the permitting process, (iii) the ability of the Pebble Project to ulti mately secure all required
federal and state permits, (iv) if permitting is ultimately secured, the ability to demonstrate that the Pebble Project is co mmercially
viable and (v) the ability of the Company and/or the State of Alaska to challenge the EPA’s Final Determination process under the
Clean Water Act.
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 required government an d
environmental permits or regarding the ability of NDM to develop the Pebble Projects in light of the EPA’s final Determination.
Assumptions used by NDM to develop forward -looking statements include the following assumptions: (i) the Pebble Project will
ultimately obtain all required environmental and other permits and all land use and other licenses and (ii) any action taken by the
EPA in connection with the Proposed Determination will ultimately not be successful in restricting or prohibiting development of the
Pebble Project.
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NDM is also subject to the specific risks inherent in the mining business as well as general economic and business conditions. Investors
should also consider the risk factors identified in the Company’s Annual Information Form for the year ended December 31, 2022,
as filed on SEDAR plus and included in the Company’s annual report on Form 40-F filed by the Company with the SEC on EDGAR, and
the Company’s Management Discussion and Analysis for the year ended December 31, 2022, and six months ended June 30, 2 022,
each as filed on SEDAR plus and EDGAR, for a discussion of the risks that may impact our forward-looking statements.
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 operating parameters for th e
Pebble Project and associated infrastructure may vary significantly from that currently contemplated. As a result, the 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 at www.sec.gov and its home jurisdiction filings that are available at www.sedarplus.ca.