NDM.TO · 2023-11-27 12:00:00

Northern Dynasty: U.S. Army Corps Further Extends the Deadline to Comment on Future Plans

Company Commentary

November 27, 2023 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”) has been informed that the Alaska District of the U.S. Army Corps of Engineers (“USACE”)

was granted a sixth extension of the deadline to communicate the plan on how the District plans to move forward

with its reconsideration of the administrative record after remand. The Division Commander approved the request

for an extension until the Supreme Court acts on the State of Alaska’s bill of complaint challenging the

Environmental Protection Agency’s exercise of its Clean Water Act, Section 404(c) authority.

As reported by the Company on May 1, 2023, in a news release entitled “US Army Corps Remand highlights serious

flaws in the permitting decision”, the USACE Pacific Ocean Division had given the Alaska District 45 days to review

the appeal decision and notif y the parties how it plans to proceed in light of the EPA’s Final Determination. The

original deadline expired on Friday, June 9, 2023, with subsequent extensions to June 23, June 29, July 28,

September 26, and November 27, 2023, prior to this most recent extension. The news release is available at the

following link: https://northerndynastyminerals.com/news/news-releases/2023/northern-dynasty-u.s-army-

corps-remand- highlights-serious-flaws-in-the-permitting-decision/.

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

factor disclosure regarding the Company and the Pebble Project 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. These include statements regarding: (i) the outcome of the U.S. Army Corp of Engineers (“USACE”) remand and

the ability to successfully appeal the negative Record of Decision (“ROD”) and secure the issuance of a positive ROD by the USACE,

(ii) the political and public support for the permitting process, (iii) the ability of the Pebble Project to ultimately secur e all required

federal and state permits, (iv) if permitting is ultimately secured, the ability to demonstrate that the Pebble Project is commercially

viable and (v) the ability of the Company and/or the State of Alaska to challenge the EPA’s Final Determination process under the

Clean Water Act.

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 an d

environmental permits or regarding the ability of NDM to develop the Pebble Projects in light of the EPA’s Final Determination.

Assumptions used by NDM to develop forward -looking statements include the following assumptions: (i) the Pebble Project will

ultimately obtain all required environmental and other permits and all land use and other licenses and (ii) any action taken by the

EPA in connection with the Final Determination will ultimately not be successful in restricting or prohibiting development of the

Pebble Project.

NDM is also subject to the specific risks inherent in the mining business 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, 2022,

as filed on SEDAR plus 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 year ended December 31, 2022, and nine months ended September 30,

2023, each as filed on SEDAR plus and EDGAR, for a discussion of the risks that may impact our forward-looking statements.

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 c ontemplated. As a result, the Company will

continue to consider various development options and no final project design has been selected at this time.

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.

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