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EPA continues process to study mining impacts in southwest Alaska

February 28, 2014

VANCOUVER, Feb. 28, 2014 /PRNewswire/ – Northern Dynasty Minerals Ltd. (TSX:
NDM; NYSE MKT: NAK) (“Northern Dynasty” or the “Company”) acknowledges
that the U.S. Environmental Protection Agency is initiating a process
under the Clean Water Act to investigate potential impacts on aquatic habitat and fisheries
associated with mine development in southwest Alaska. This EPA process,
which is a continuation of the Bristol Bay Assessment study initiated in 2011, will include consultation with the U.S. Army
Corps of Engineers and the Pebble Limited Partnership (“Pebble
Partnership” or “PLP”), the proponent of the Pebble Project.

In a news release issued today, the U.S. federal agency reports: “Based
on input EPA receives during any one of these steps, the agency could
decide that further review under Section 404c (of the Clean Water Act) is not necessary.”

“For a wide range of reasons, we remain confident that final decisions
about Pebble will be made by federal and state regulators working
within the rigorous National Environmental Policy Act (NEPA) permitting
process, and not unilaterally and pre-emptively by EPA,” said said Ron
Thiessen, President & CEO of Northern Dynasty Minerals Ltd. “We will
participate fully in EPA’s process to consider necessary safeguards to
ensure that responsible mineral development can co-exist with clean
water and healthy fisheries in Bristol Bay, and we will continue our
efforts to prepare for the NEPA permitting process to come.”

Thiessen said both EPA and the Peer Reviewers they contracted to review
the Bristol Bay Assessment have acknowledged that their study is insufficient as a foundation for
regulatory decision-making with respect to the Pebble Project. In
response to Peer Review comments on the Bristol Bay Assessment, EPA states: “The assessment is not intended to duplicate or replace a
regulatory process”…and “We agree that a more detailed assessment of
direct and indirect impacts of mining…will have to be done as part of
the NEPA and permitting processes.”

Thiessen also noted that Northern Dynasty has submitted hundreds of
pages of documentation to EPA Inspector General (IG), an independent
office within the federal agency, calling for an investigation into the
Bristol Bay Assessment. Based on Freedom of Information Act (FOIA) requests undertaken by the
Pebble Partnership, the State of Alaska and others, Northern Dynasty’s
submission to the EPA IG raises serious issues of bias, political
motivation and collusion with environmental NGOs in the federal
agency’s preparation of the Bristol Bay Assessment.

“The US and Alaska have among the most stringent environmental laws for
the protection of fish and water in the world, and the Environmental
Impact Statement (EIS) process under NEPA is the gold standard for
ensuring that major project developments receive comprehensive,
transparent and science-based assessment,” Thiessen said. “Given that,
along with the global significance of the Pebble deposit and the
inherent, well-documented limitations of the Bristol Bay Assessment study, including those acknowledged by EPA itself, we continue to have
every confidence that final decisions about Pebble will be made in the
future following a comprehensive NEPA/EIS permitting process.”

About the Pebble Project

The Pebble Project is an initiative of the Pebble Partnership to
responsibly develop a globally significant copper, gold and molybdenum
deposit in southwest Alaska into a modern, long-life mine, which will
benefit not only the owner, but the people, culture and industries of
the State of Alaska, as well as suppliers, consultants and industries
in the Lower 48 United States of America.

A recent study authored by IHS Global Insight, entitled The Economic and Employment Contributions of a Conceptual Pebble Mine to
the Alaska and United States Economies
found the Pebble Project has the potential to support 15,000 American
jobs and contribute more than $2.5 billion annually to US GDP over
decades of production. The IHS Global Insight study is available at www.northerndynasty.com.

The Pebble Project is located 200 miles southwest of Anchorage on state
land designated for mineral exploration and development. It is situated
in a region of rolling tundra approximately 1,000 feet above sea-level,
65 miles from tidewater on Cook Inlet and presents favourable
conditions for successful mine site and infrastructure development.

About Northern Dynasty Minerals Ltd.

Northern Dynasty is a mineral exploration and development company based
in Vancouver, Canada, which holds indirect interests in over 500 sq.
miles of mineral claims in southwest Alaska, USA. Northern Dynasty’s
principal asset is the Pebble Project, an advanced-stage initiative to
develop one of the world’s most important mineral resources.

Ronald W. Thiessen

President & CEO

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, especially those that address
estimated resource quantities, grades and contained metals, are
forward-looking statements because they are generally made on the basis
of estimation and extrapolation from a limited number of drill holes
and metallurgical studies. Although diamond drill hole core provides
valuable information about the size, shape and geology of an
exploration project, there will always remain a significant degree of
uncertainty in connection with these valuation factors until a deposit
has been extensively drilled on closely spaced centers, which has
occurred only in specific areas on the Pebble Project. Although the
Company believes the expectations expressed in its forward-looking
statements are based on reasonable assumptions, such statements should
not be in any way construed as guarantees of the ultimate size, quality
or commercial feasibility of the Pebble Project or of the Company’s
future performance. 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 obtaining necessary mining and construction permits,
completion of pre-feasibility and final feasibility studies,
preparation of all necessary engineering for underground workings and
processing facilities as well as receipt of significant additional
financing to fund these objectives as well as funding mine
construction. Such funding may not be available to the Company on
acceptable terms or on any terms at all. There is no known ore at the
Pebble Project and there is no assurance that the mineralization at the
Pebble Project will ever be classified as ore. The need for compliance
with extensive environmental and socio-economic rules and practices and
the requirement for the Company to obtain government permitting can
cause a delay or even abandonment of a mineral project. The Company is
also subject to the specific risks inherent in the mining business as
well as general economic and business conditions. For more information
on the Company, Investors should review the Company’s annual Form 40-F
filing with the United States Securities and Exchange Commission and
its home jurisdiction filings that are available at www.sedar.com.

SOURCE Northern Dynasty Minerals Ltd.


Source: PR Newswire



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