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Peer Review Panel Comments On Draft Bristol Bay Watershed Assessment Report

Given the significant shortcomings and scientific flaws in the draft Bristol Bay Watershed Assessment report, it is not clear that the EPA will meet its original schedule for completing the study in November 2012. The Peer Reviewers all acknowledged that it's important for the EPA to 'get it right,' particularly because the study will have a significant influence on public perceptions of the Pebble Project.

"So with this hypothetical mine, it strikes me that there's a little bit of a lack of fairness," said Dr. Phyllis Weber Scannell, a retired biologist with the Alaska Department of Fish and Game , "because it doesn't give then an opportunity for a potential mining company or potential mine to come back with any sort of procedures that could be done that we - or someone, permitters, anybody - could evaluate and say that would lessen this risk."

About the Pebble Project

The Pebble Project is an initiative of PLP to responsibly develop a globally significant copper, gold and molybdenum deposit in southwest Alaska into a modern, long-life mine. The project is located 200 miles southwest of Anchorage on state land designated for mineral exploration and development. It is situated 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.

The Pebble Project consists of the Pebble deposit, surrounding mineral claims and a stream of financing being provided by Northern Dynasty's project partner Anglo American US (Pebble) LLC. The Pebble Partnership was established in July 2007 as a 50:50 partnership between a wholly-owned affiliate of Northern Dynasty and a wholly-owned subsidiary of Anglo American plc. Both Northern Dynasty and Anglo American have equal ownership and direction of the Pebble Partnership.

Under the terms of the Pebble Limited Partnership Agreement, Anglo American is required to elect to commit $1.5 billion in staged investments in order to retain its 50% interest in the Pebble Project. Funds provided by Anglo American are currently being invested in comprehensive exploration, engineering, environmental and socioeconomic programs toward the future development of the Pebble Project.

About Northern Dynasty Minerals Ltd.

Northern Dynasty is a mineral exploration and development company based in Vancouver, Canada, which holds indirect interests in over 600 sq. miles of mineral claims in southwest Alaska, USA. Northern Dynasty's principal asset is a 50% interest in the Pebble Partnership, owner of the Pebble Project. The Pebble Project is an advanced-stage initiative to develop one of the world's most important mineral resources.

Ronald W. Thiessen President & CEO

Sole Responsibility

No regulatory authority accepts responsibility for the adequacy or accuracy of this release. Northern Dynasty is solely and entirely responsible for the contents of this news release. No other party, including any parties which have an interest in the project, are in any way responsible for the contents hereof.

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