Northern Dynasty: Update on Veto Removal Negotiations and Order Setting Summary Judgement Timetable

Northern Dynasty: Update on Veto Removal Negotiations and Order Setting Summary Judgement

Timetable

August 7, 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”) provide an update on veto removal negotiations with the U.S. Government and on the recent

order by Ju dge Gleason in the Alaska Federal District granting our motion to set a summary judgement

briefing schedule for good cause shown.

“We continue to have active negotiations with government officials regarding the withdrawal of the illegal

Obama/Biden-era veto,” said Ron Thiessen, Northern Dynasty’s President and CEO. “It is still too early to tell

where these efforts will land, but we remain optimistic that these discussions will continue to be fruitful and

lead to a rationale resolution.”

“It is important to keep in mind that we are pursuing a parallel track of negotiations and court action in the

interest of keeping timelines as tight as possible ,” Mr. Thies sen cont inued. “Summary judgement is a

standard legal process that allows the court to evaluate the merits of the case based on the existing record,

without requiring a full trial. If we are able to come to a resolution that removes this unlawful veto, obviating

the need for continued litigation, then we can move to terminate the summary judgement process. This is,

undoubtedly, our preferred outcome.”

Judge Gleason has now set the summary briefing schedule after receiving submissions by both the plaintiffs

and the defendants. Under the order, the plaintiffs (the State of Alaska, Pebble Partnership and Iliamna

Natives Ltd, et al. ) will file their opening briefs by October 3, 2025. The Department of Justice (“ DOJ”) will

then file their response brief by January 2, 2026 and the plaintiffs will file their response to the DOJ’s briefs

by February 27, 2026. The case against the U.S. Army Corps of Engineers remains stayed.

Mr. Thiessen continued, “We appreciate Judge Gleason’s quick decision on the motions before her. With the

schedule now set, we have a clear and defined timeline during which we can aim to arrive at a resolution.

We remain committed to supporting U.S. policies that prioritize responsible, environmentally -sound

domestic resource development and are committed to working constructively with regulatory agencies .

Withdrawal of the illegal veto will be a step towards a very significant new source of domestic copper as well

significant economic benefits for the region, the state and the country.”

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

2

U.S. Media Contact:

Dan Gagnier, Gagnier Communications (646) 569-5897

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 Company’s legal action against the U.S.

Environmental Protection Agency (“EPA”) and the U.S. Army Corps of Engineers (“USACE”), the withdrawal of the EPA veto and the

development and production for the Pebble Project are forward-looking statements. Additional forward looking statements made by

the Company under its continuous disclosure obligations 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 oper ating costs, (iv) the social integration of the Pebble Project into the Bristol Bay region and

benefits for Alaska, (v) the political and public support for 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 EPA’s Final

Determination process under the Clean Water Act and ultimately the USACE’s Record of Dec ision (“USACE ROD ”) through legal

actions; (viii) exploration potential of the Pebble Project, (ix) future demand for copper, gold and other metals, (x) if per mitting is

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 that 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 ROD and its

subsequent 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.

In addition, 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 del ay,

including 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 b e

economically mined, (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 thes e

objectives as well as funding mine construction. NDM is also subject to the specific risks inherent in the mining bu siness 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, 202 4, 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 mor e 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.

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.