Northern Dynasty Enters into Framework Agreement with First Quantum Minerals

Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE MKT: NAK) (“Northern Dynasty” or the “Company”) announced today that it has entered into a framework agreement with First Quantum Minerals Ltd. (“First Quantum”) (TSX: FM) which contemplates that an affiliate of First Quantum will subsequently execute an option agreement with Northern Dynasty. The option agreement contemplates an option payment of US$150 million staged over four years which option will entitle First Quantum to acquire the right to earn a 50% interest in the Pebble Limited Partnership (the “Pebble Partnership”) for US$1.35 billion.
As quoted in the press release:

“We have made good progress in the partnering process and are very pleased to be in advanced-stage discussions with First Quantum, an industry leader in mine development and management,” Northern Dynasty President & CEO Ron Thiessen confirmed. “Just as importantly, the immediate capital contribution from First Quantum will allow Northern Dynasty to execute on its plan to move the Pebble Project forward to initiate federal and state permitting in the very near-term.”

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