Northern Dynasty Reacts to Negative Federal Record of Decision on Alaska's Pebble Project

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 has 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 greatest 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 metals 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 Project, 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.

Contact:

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 statements 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 financing 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 NDM to secure a partner for the development of the 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 uncertainties 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

SOURCE: Northern Dynasty Minerals Ltd.



View source version on accesswire.com:
https://www.accesswire.com/618442/Northern-Dynasty-Reacts-to-Negative-Federal-Record-of-Decision-on-Alaskas-Pebble-Project

News Provided by ACCESSWIRE via QuoteMedia

The Conversation (0)
Colorful mineral rocks with "5 Top Canadian Mining Stocks This Week" text.

Top 5 Canadian Mining Stocks This Week: St. Augustine Rises 67 Percent on Private Placement

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

A new report released on Wednesday (June 11) by Canada’s Climate Institute suggests Canada risks missing out on a C$12 billion market for critical minerals should the government not enact policy to drive investment in Canada’s mining sector.

The report outlines a growing need for minerals like copper, cobalt, lithium, nickel, graphite and rare earths, all of which are found in Canada. These critical minerals are all used to produce goods needed for the energy transition, from photovoltaics to electric vehicles.

Keep reading...Show less
Canoe on the shore of Boundary Lake, Minnesota, with "Weekly Editor's Picks" text overlay.

Editor's Picks: Trump to Lift Minnesota Mining Ban, Dundee Buys Adriatic, China Tightens Rare Earth Grip

Here's a quick recap of some of the most impactful resource sector news items for the week.

The period saw the Trump administration move to reverse a Biden-era ban on copper and nickel mining near Minnesota’s Boundary Waters, while Dundee Precious Metals (TSX:DPM,OTC Pink:DPMLF) penned a deal for assets in Bosnia and Herzegovina and Serbia, and China exerted control over rare earth mines in Myanmar.

Keep reading...Show less
Juggernaut Exploration (TSXV:JUGR)

Juggernaut Files for Approval of Private Placement Financing

Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the “Company” or “Juggernaut the Company is pleased to announce that it has filed documents with theTSX Venture Exchange (the “Exchange”) seeking conditional approval of its $0.64 unit (“Unit”) private placement financing (the “Financing”) for aggregate gross proceeds of $1.1 million.

The Financing consists of 1,718,731 Units, each Unit consisting of 1 common share of the Company and 1 common share purchase warrant, each warrant being exercisable at $0.84 for 5 years, subject to the right of the Company to accelerate the exercise period to 30 days if, after the 4-month hold has expired, shares of the Company close at or above $1.50 for 10 consecutive trading days. Proceeds of the Financing will be used for general corporate and operating purposes.

Keep reading...Show less
Empire Metals

Empire Metals Limited Announces Warrant Exercise

Empire Metals Limited ("Empire" or "the Company") (LON:EEE)(OTCQB:EPMLF), the AIM-quoted resource exploration and development company, announces that it has received notification from SP Angel Corporate Finance LLP, Nominated Adviser and Broker to the Company, of the exercise of a warrant over 70,000 new ordinary shares of no par value in the share capital of the Company (the 'New Ordinary Shares') at a price of £0.06 per share. Accordingly, the Company has today issued the New Ordinary Shares to the warrant holder for an aggregate cash value of £4,200. The Company has also received notification from Shard Capital Stockbrokers, Broker to the Company, of the exercise of a warrant over 689,988 new ordinary shares of no-par value in the share capital of the Company (the 'New Ordinary Shares') at a price of £0.105 per share. Accordingly, the Company has today issued the New Ordinary Shares to the warrant holder for an aggregate cash value of £72,448.74.

Keep reading...Show less
Aston Bay (TSXV:BAY)

Aston Bay and American West Metals Announce Drilling Preparations Underway at the Storm Project, Nunavut, Canada

Camp opening and logistics have commenced with geophysics and drilling to follow in the coming weeks

Aston Bay Holdings Ltd. (TSXV:BAY)(OTCQB:ATBHF) ("Aston Bay" or the "Company") is pleased to announce the commencement of activities at the Storm Copper Project ("Storm" or the "Project") on Somerset Island, Nunavut. American West Metals Limited ("American West"), the Project operator, is conducting the exploration program. Aston Bay and American West have formed a 20/80 unincorporated joint venture with respect to the Storm Project property, with Aston Bay maintaining a free carried interest until a decision to mine is made upon completion of a bankable feasibility study.

Keep reading...Show less
Osisko Metals (TSXV:OM)

Osisko Metals Intersects 0.33% Cu Over 258 Metres at Gaspé

Includes 15.6 Metres Averaging 1.47% Cu and 8.5 g/t Ag

E Zone Skarn Returns 29.7 Metres Averaging 1.92% Cu and 15.2 g/t Ag

Keep reading...Show less

Latest Press Releases

Related News

×