Northern Dynasty: President Trump Signs Executive Order to Increase America’s Mineral Production
Northern Dynasty: President Trump Signs Executive Order to Increase America’s Mineral Production
March 24, 2025 Vancouver – Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE American: NAK) (" Northern
Dynasty" or the "Company") and its 100%-owned U.S.-based subsidiary Pebble Limited Partnership (“Pebble
Partnership” or “PLP”) provides commentary on the executive order issued by President Donald Trump on
March 20, 2025, titled “Immediate Measures to Increase America’s Mineral Production.”
In the executive order , the President highlighted the past prominence of the U.S. mining industry an d the
importance of securing a stable and predictable supply of minerals (including copper and gold) that are
essential for defense, technology, and infrastructure. It also directed Federal agencies to expedite approvals
for domestic mineral production projects.
The executive order was published on the public registry and the full text of the executive order can be found
at the following link: https://www.whitehouse.gov/presidential-actions/2025/03/immediate-measures-to-
increase-american-mineral-production/.
“Located in the State of Alaska, Pebble is the world's largest undeveloped copper deposit. And, in addition to
a sizeable amount of gold, molybdenum and silver, t he deposit also contains a significant resource of
rhenium1, a mineral used in military applications . The 2020 Final Environmental Impact Study highlighted
how the project could result in significant economic benefits, both in terms of high paying jobs as well as tax
revenues, for the local Alaskan communities, the state and the U.S.” said Ron Thiessen, Northern Dynasty
President and CEO.
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
1 For further information see Pebble Project, NI 43-101 Technical Report Update and Preliminary Economic Assessment, Alaska,
United States of America, Effective Date: August 21, 2023 filed at www.sedarplus.ca, and company website
https://northerndynastyminerals.com/pebble-project/reserves-resources-1/
2
Forward Looking Information and other Cautionary Factors
This document 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
document, other than statements of historical facts, which address permitting, including the effects of the executive order described
above and the development and production for the Pebble Project are forward -looking statements. These include statements
regarding (i) the development plan for the Pebble Project (ii) the right-sizing and de-risking of the Pebble Project, (iii) the design and
operating parameters for the Pebble Project development plan, including projected capital and operating costs, (iv) the social
integration of the Pebble Project into the Bristol Bay region and benefits for Alaska, (v) the political and public support f or the
permitting process, (vi) the ability of the Pebble Project to ultimately secure all required federal and state permits, (vii) the ability of
the Company and/or the State of Alaska to challenge the Environmental Protection Agency’s (“EPA’s”) Final Determination process
under the Clean Water Act and ultimately the U.S. Army Corps of Engineers Record of Decision (“USACE ROD”) through legal actions;
(viii) exploration potential of the Pebble Project, (ix) future demand for copper, gold and other metals, (x) if permitting i s ultimately
secured, the ability to demonstrate the Pebble Project is ultimately commercially viable, and (xi) the potential addition of partners
in 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 tha t the Pebble Project will secure
all required government permits or regarding the ability of NDM to develop the Pebble Project in light of the USACE remand decision
and the EPA’s Final Determination, 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 statements, 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 fe asibility
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 commer cial
feasibility of the Pebble Project, and (v) NDM will be successful in its legal action against the EPA and the USACE and any action taken
by the EPA in connection with the Final Determination will ultimately not be successful in restricting or prohibiting develop ment 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 current development plan may not reflect the ultimate mine plan for the
Pebble Project, (ii) obtaining necessary mining and construction permits, licenses and approvals without undue delay, includi ng
without delay due to third party opposition or changes in government policies, (iii) finalization of the mine plan for the Pebble Project,
(iv) the completion of feasibility studies demonstrating that any Pebble Project mineral resources that can be economically m ined,
(v) completion of all necessary engineering for mining and processing facilities, (vi) 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 we ll as
funding mine construction. NDM is also subject to the specific risks inherent in the mining b usiness 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, 2023, as filed on SEDAR+ (www.sedarplus.ca) and included in its annual report on Form 40 -F filed on EDGAR
(www.sec.gov), as well as the risk factors set out in the Company’s subsequent public continuous disclosure filings available on
SEDAR+ and EDGAR. For more information on the Company, Investors should review the C ompany'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.
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 w ill
continue to consider various development options and no final project design has been selected at this time.