Northern Dynasty: Open Letter to Shareholders

Northern Dynasty: Open Letter to Shareholders

February 6, 2025 Vancouver – Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE American: NAK) ("Northern

Dynasty" or the " Company") announces an Open Letter to Shareholders , providing an update on recent

events and what they could mean for the Pebble Project in the near to medium term future.

The full text of the Open Letter to Shareholders is available on the Company’s website at:

https://northerndynastyminerals.com/investors/ceo-message/

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. Public filings, which include forward looking information cautionary language and risk

factor disclosure regarding the Company and the Pebble Project can be found 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.

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 statements, are inherently subject to significant business, economic and competitive uncertainties and

contingencies and such statements should not be in any way be construed as guarantees that the Pebble Project will secure all

required government permits, establish the commercial feasibility of the Pebble Project, achieve the required financing or de velop

the Pebble Project.

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.