Independent PEA Completed For Pebble Project Completed

VANCOUVER - Northern Dynasty Minerals Ltd. reported that an independent technical report entitled Pebble Project, NI 43-101 Technical Report Update and Preliminary Economic Assessment, Alaska, United States of America, has been completed.

"The proposed mine for the Pebble Project would provide good-paying, year-round employment for thousands of Alaskans, something desperately needed in Southwest Alaska," said Ron Thiessen, President and CEO . "The mine would mean substantial tax revenues for Alaska, including contributions to the Alaska Permanent Fund, which will be important for the future economic sustainability of the region. New infrastructure developed to support the proposed project would offer the additional benefit of potentially lowering energy costs for the region. The July 2020 Environmental Impact Statement of the Pebble Project (the "FEIS") states that the proposed mine can be developed and operated without harming the fishery, and so, with Alaska's excellent track record of managing all its resources for the benefit of its people, it can have both the mine and the fishery."

The 2023 PEA was prepared to accomplish several objectives. The report is an independent review of the project that provides cost and price estimates to reflect current economic volatility. It includes an infrastructure plan that uses the "southern route" for project access as defined in the original permitting application for the Pebble Project. In addition, the 2023 PEA updates the status of the Environmental Protection Agency (EPA) Final Determination and United States Army Corps of Engineers (USACE) Record of Decision Appeal processes.

The 2023 PEA provides production, financial and cost estimates for a proposed 20-year, 180,000 tons per day (Tpd) open pit operation with conventional processing producing two concentrates for the Pebble Project in Southwest Alaska as described in the Pebble Project permit application and its amendments. United States (U.S.) dollars and U.S. standard units are used in the 2023 PEA.