Northern Dynasty Makes Annual Filings
Northern Dynasty Makes Annual Filings
April 1 , 202 1, Vancouver, BC – Northern Dynasty Minerals Ltd. (TSX: NDM)(NYSE American: NAK) ("Northern
Dynasty" or the "Company") announces that it has filed its audited Financial Statements, Management Discussion
and Analysis, Annual Information Form and Annual Report on Form 40F for the year ending December 31, 2020.
Concurrent with its annual filings, the Company has filed an updated Technical Report for the Pebble Project. The
Technical Report updates the Company’s 2020 technical report on the Pebble Project , filed on October 1, 2020
with an effective date of August 18, 2020, in order to include updated disclosure on the status of the permitting
process, the Record of Decision (“ROD”) issued by the US Army Corps of Engineers and the Company’s appeal of
the ROD. The updated Technical Report does not include any update to the previously disclosed mineral resource
estimates, which remain effective as of August 18, 2020.
The Company also advises that consistent with previous years its audited consolidated financial statements for
the fiscal year ended December 31, 20 20, included in the Company’s Annual Report on Form 40 -F, contained an
audit report from its independent registered pu blic accounting firm with a going concern emphasis of matter.
Release of this information is required by Section 610(b) of the NYSE American Company Guide. It does not
represent any change or amendment to any of the Company’s filings for the fiscal year ended December 31, 2020.
The technical information in this release was reviewed and approved by Stephen Hodgson, P.Eng., and David
Gaunt, P.Geo., Qualified Persons who are not independent of Northern Dynasty. David Gaunt is also responsible
for the August 2020 resource estimate.
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, the Pebble Partnership,
is a 100% interest in a contiguous block of 2,402 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 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" under applicable law. All statements in
this release, other than statements of historical facts, that address permitting, development and production for the Pebble P roject
are forward-looking statements. These statements 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 publ ic 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 US Army Corps of Engineers and the ability of the Pebble Project to secure 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, (vii) exploration potential
of the Pebble Project, (viii) future demand for copper and gold, (ix) the potential partnering of the Pebble Project, and (x) the ability
and timetable of NDM to develop the Pebble Project and become a leading copper, gold and molybdenum producer. Although NDM
LEGAL_30744691.2
believes the expectations expressed in these forward -looking statements are base d on reasonable assumptions, such statements
should not be in any way be construed as guarantees that the Pebble Project will secure all required government permits, esta blish
the commercial feasibility of the Pebble Project or develop the Pebble Project. 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 a ll land
use and other licenses without undue delay, (ii) studies for the develop ment of the Pebble Project will be positive, (iii) NDM’s
estimates of mineral resources will not change, (iv) NDM will be able to establish the commercial feasibility of the Pebble P roject,
and (v) NDM will be able to secure the financing required to develop 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 objec tives,
including (i) obtaining necessary mining and constructi on permits, licenses and approvals without undue delay, including without
delay due to third party opposition or changes in government policies, (ii) finalization of the mine plan for the Pebble Project, (iii) the
completion of feasibility studies demonstr ating that any Pebble Project mineral resources that can be economically mined, (iv)
completion of all necessary engineering for mining and processing facilities, (v) the ability of NDM to secure a partner for the
development of the Pebble Project, and (vi ) receipt 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 als o
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.
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. A s 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 and its home jurisdiction filings that are available at www.sedar.com.