Northern Dynasty reacts to negative federal Record of Decision on Alaska’s Pebble Project
Northern Dynasty reacts to negative federal Record of Decision on Alaska’s Pebble Project
November 25 , 2020 Vancouver – Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE American: NAK)
("Northern Dynasty" or the "Company") announces that today, its 100%-owned, US-based subsidiary Pebble
Limited Partnership (the “Pebble Partnership”) received formal notification from the US Army Corps of
Engineers (“USACE”) that its application for permits under the Clean Water Act and other federal statutes
has been denied. The lead federal regulator found Pebble’s ‘compensatory mitigation plan’ as submitted
earlier this month to be ‘non-compliant’, and that the project is ‘not in the public interest’.
Northern Dynasty called the decision politically motivated and said it is fundamentally unsupported by the
administrative record as developed by the USACE through the Environmental Impact Statement ( “EIS”)
process for the Pebble Project. The Company intends to launch an administrative appeal of the USACE
permitting decision.
The Company notes:
“The Final EIS found Pebble to be a project of merit that would fully co -exist with clean water, healthy fish
and wildlife populations, and the important fisheries resources of southwest Alaska. The Final EIS also found
that Pebble would make an important , positive socioeconomic contribution to the people and villages of
Bristol Bay, Alaska – where full-time jobs are scarce and people face one of the highest costs of living in the
country – as well as to the State of Alaska and the United States.
“Based on the positive findings of the Final EIS, conclusions by the USACE that development of the Pebble
Project is ‘not in the public interest’ are wholly unsupported.
“At a time when the United States h as declared a ‘national emergency’ due to its over -reliance on foreign
producers for critical minerals required to ensure the country’s future economic and military security, it is
unconscionable to determine that permitting and development of one of the g reatest accumulations of
strategic and critical minerals ever discovered on American soil is ‘not in the public interest’.
“President-elect Biden’s campaign recently said his administration would support boosting domestic
production of copper and other met als necessary for the production of clean and renewable energy
technologies, and a transition to a lower carbon future.”
Northern Dynasty confirmed that the Pebble Partnership will appeal the USACE permitting decision within
the 60-day window provided for it to do so.
“For the United States to turn its back on an opportunity to develop these minerals here at home in a manner
that US regulators have agreed is environmentally safe and responsible, and to do so for purely political
reasons, is not just short -sighted,” said Northern Dynasty President & CEO Ron Thiessen. “It’s self -
destructive.”
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 (“PLP”), is a 100% interest in a contiguous block of 2,402 mineral claims in southwest Alaska,
including the Pebble deposit. PLP is the proponent of the Pebble P roject, 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". All statements in this release, other than
statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the Company
expects are forward -looking statements. 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 or develop the Pebble Project.
Assumptions used by NDM to develop forward -looking sta tements include the assumptions that (i) the Pebble Project will be
successful in the appeal process or related litigation and will obtain all required environmental and other permits and all land use
and other licenses without undue delay, (ii) studies for the development 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 Project, and (v) NDM
will be able to secure the fina ncing 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 objectives, including (i)
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) finalization of the mine plan for the Pebble Project, (iii) the completion
of feasibility studies demonstrating that any Pebble Project mineral resources that can be economically mined, (iv) completion of all
necessary engineering for mining and processing facilities, (v) the inability of N DM to secure a partner for the development of th e
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 also subject to the
specific risks inherent in the mining business as well as general economic and business conditions, such as the current uncer tainties
with regard to COVID-19.
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