May 2, 2011,
Vancouver, BC �
Northern Dynasty Minerals Ltd. (�Northern Dynasty� or the �Company�) (TSX: NDM;
NYSE Amex: NAK) announces that the Pebble Limited Partnership (the �Pebble
Partnership� or �PLP�) Board of Directors has approved program expenditures of
US $91 million in 2011, with the objective of completing a Prefeasibility Study
for the Pebble Project in 2012, and thereafter initiate permitting under the
National Environmental Policy Act (NEPA).
�Upon reaching commercial
production, Pebble would become one of the world�s leading producers of copper,
gold and molybdenum as well as a tremendous driver of economic wealth and
opportunity in Alaska and the United States,� said Northern Dynasty President
and CEO Ron Thiessen.
�Given its national and
global importance, the Pebble Partnership has been very deliberate, methodical
and patient in designing a project that will meet and exceed the exacting
environmental regulations and permitting requirements in Alaska, while
delivering superior returns for shareholders. I�m pleased to report that this
project design process is nearing important milestones and that PLP intends to
enter the permitting phase towards the end of 2012. �
In February 2011, Northern Dynasty
released a positive Preliminary Assessment for the Pebble
Copper-Gold-Molybdenum Project in southwest Alaska, completed by Wardrop, a Tetra Tech Company (see Northern Dynasty press
release dated February 23, 2011). The Preliminary Assessment confirms Pebble to
be a technically and economically robust project with the potential to produce
53 billion lb copper, 50 million oz gold and 2.8 billion lb molybdenum over 78
years, while developing just 55% of the known mineral resource. A complete copy
of the Preliminary Assessment Technical Report can be found at www.northerndynasty.com or on the Company�s profile at www.sedar.com.
Activities to be undertaken
at the Pebble Project in 2011 include:
- engineering
to complete a Prefeasibility Study (PFS) project design in 2012;
- environmental
studies to support PFS engineering, finalize an Environmental Baseline
Document in preparation for project permitting, develop a mine closure and
reclamation plan, prepare a full suite of environmental and social
management plans, and continue environmental monitoring studies in key
areas;
- site
investigations, including 45,000 feet of drilling to support PFS
engineering, as well as a geotechnical drill program and support for
environmental and public affairs initiatives; and,
- stakeholder
engagement and public affairs programming, including workforce and
business development, local community relations, public education and
community investment.
To view this news release
in its entirety please click on the link below or copy and paste it into your
web browser
http://www.northerndynastyminerals.com/ndm/NewsReleases.asp?ReportID=454588
If you have any questions
do not hesitate to contact us as provided below.
Best Regards,
Investor Services
HDI
15th Floor - 1040 West Georgia Street, Vancouver BC V6E 4H8
Toll Free 1-800-667-2114 | Main 1-604-684-6365
info@hdimining.com | www.hdimining.com