Northern Dynasty: Pebble Partnership plans field program at southwest Alaska’s Pebble Project
Northern Dynasty: Pebble Partnership plans field program at southwest Alaska’s Pebble Project
April 28, 2022 Vancouver – Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE American: NAK) ("Northern Dynasty"
or the "Company") reports that its 100% -owned U.S -based subsidiary Pebble Limited Partnership (“Pebble
Partnership” or “PLP”) is preparing crews and equipment for its 2022 fi eld program at the Pebble Project si te in
southwest Alaska , with a focus on environmental management and sustainability. All currency values are
presented in U.S. dollars.
The six-week helicopter supported program is expected to begin mid-May and continue until the end of June. The
main activities of the work program include:
• Site care and maintenance, including demobilization of equipment that is no longer actively being used at
this time. A heavy lift helicopter will be mobilized to site for sev eral days to facilitate the mo vement of
the larger pieces back to the Company storage yards at the town of Iliamna until they are needed for
future work programs.
• Removal of an old weather monitoring tower and shelter that are no longer needed due to completion of
data collection at that site.
• Inspection and permanent closure of select drill holes where the collection of baseline hydrology data for
the site has been completed. Hole collars will be remo ved below ground level, hole plugs will be placed
below the bedrock interface and the holes will be backfilled with grout and a cement cap. Sites will then
be reclaimed and seeded as required.
• Work will be completed by a five -person field team supported using a single helicopter . All field crew
members and PLP’s onsite field supervisor are residents of the nearby communities of Kokhanok, Iliamna,
and Newhalen. Prior to commencing the program, crew members will receive three days of r efresher
safety training and site and helicopter orientation. All crew members are returning hires that worked on
last summer’s successful field program.
• Work is being conducted with support from the Alaska Peninsula Corporation and Iliamna Development
Corporation.
“While we continue to wait for the U.S. Army Corps of Engineers to advance our administrative appeal, we have
another important summer work program planned to maintain and enhance our important asset, “said Ron
Thiessen, Northern Dynasty President and CEO. “T his work is part of our unwavering commitment to safety and
sustainability at the project. While site activities planned this year have a modest budget, the Pebble Partnership
continues to prioritize local contracting and employment to ensure that the local economy receives the maximum
benefit of this work.”
“The Pebble Partnership has put together a great team of local workers that is keen to get to work. Meaningful
employment in this region is rare, and we are doing our part to engage as many local residents that we can.
Imagine the potential for benefits in this area, with one of the highest unemployment rates in all of the U.S., when
the proposed mine is allowed to go forward,” Mr. Thiessen added.
As announced on February 28, 2022, the Company commissioned a comprehensive study authored by IHS Markit,
a l eading global source of critical information and insight, entitled ‘Economic Contribution Assessment of the
Proposed Pebble Project to the U .S. national and state economies.’ This independent expert study provides a
detailed review of the significant economic benefits the proposed Pebble Project would have both nationally and
at the state level, particularly for Alaskans. The press release is available on the Company’s website at the following
link: https://www.northerndynastyminerals.com/site/assets/files/4946/nr-february-28-2022-fnl.pdf
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Subject to permitting and as detailed in the IHS Markit report, the Year 5 Potential Expansion scenario is estimated
to generate about 12,500 high paying jobs during the initial capital period and approximately 13,000 jobs during
the operations phase , over half of which are expected to be filled by Alaskans. Under the Year 5 Potential
Expansion scenario during the operations phase , a nnual S tate and local taxes are estimated to average $262
million and the Gross Domestic Product (“GDP”) increase for Alaska is estimated to average $720 million per year,
which equates to approximately $1,000 per Alaskan.
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, 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
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) statements on the economic contribution of the Pebble Pr oject to the
Alaskan and United States economies, which are based on the Company’s 2021 preliminary economic assessment of the Pebble
Project (the “2021 PEA”) which is preliminary in nature, and the IHS Markit report, (ii) the timing of the appeal process and the ability
to successfully appeal the negative Record of Decision and secure the issuance of a positive Record of Decision by the USACE, (iii) the
political and public support for the permitting process, (i v) the ability of the Pebble Project to ultimately secure all required federal
and state permits, (v) future metals prices, including the price of copper, (vi) the right-sizing and de-risking of the Pebble Project, (vii)
the design and operating parameters for the Pebble Project mine plan, in cluding projected capital and operating costs, (vii i)
exploration potential of the Pebble Project, (ix) future demand for copper and gold, (x) the potential addition of partners in the Pebble
Project, (ix) if permitting is ultimately secured, the ability to demonstrate that the Pebble Project is commercially viable, (xi) the EPA’s
Proposed Determination process under the CWA and the impact of this process on the ability of the Pebble Partnership to devel op
the Pebble Project, and (xii) 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 required 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 assumption s 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. Assumptions used by NDM to develop forward -looking statements include t he following assumptions, all of which
are subject to risks (i) the assumptions underlying the 2021 PEA, and the assumptions related to the IHS Markit report identified in
NDM’s February 28, 2022 news release, (ii) the Pebble Project will ultimately obtain all required environmental and other permits
and all land use and other licenses, (iii) any feasibility studies prepared for the development of the Pebble Project will be positive, (iv)
NDM’s estimates of mineral resources will not change, and NDM will be successful in converting mineral resources to mineral
reserves, (v) NDM will be able to establish the commercial feasibility of the Pebble Project, (v i) NDM will be able to secure the
financing required to develop the Pebble Project, and (vii) any action taken by the EPA in connection with the Proposed Determination
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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) the 2021 PEA may not reflect the ultimate mine plan for the Pebble Project, (ii) 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 i) finalization of the mine plan for the Pebble Project, (i v) the completion of feasibility studies
demonstrating that any Pebble Project mineral resources that can be economically mined, (v) completion of all necessary engineering
for mining and processing facilities, (v i) the ability of NDM to secure a partner for the development of the Pebble Project, and (vi i)
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 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 file d on
SEDAR 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 nine months ended September 30, 2021, as filed on SEDAR and EDGAR, for a discussion
of the risks that may impact our forward-looking statements and the 2021 PEA.
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.
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.