05:16:35 EDT Tue 22 Oct 2024
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Northern Dynasty Minerals Ltd
Symbol NDM
Shares Issued 537,724,281
Close 2024-06-26 C$ 0.385
Market Cap C$ 207,023,848
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N. Dynasty sees Alaskan communities sue EPA re Pebble

2024-06-26 10:01 ET - News Release

Mr. Ronald Thiessen reports

NORTHERN DYNASTY: TWO ALASKA NATIVE VILLAGE CORPORATIONS SUE TO STOP EPA'S PEBBLE PROJECT VETO

Iliamna Natives Ltd. (INL) and Alaska Peninsula Corp. (APC), two Alaska native village corporations representing communities closest to the Pebble project, have filed suit against the Environmental Protection Agency (EPA) for exceeding its authority with the veto action against Pebble. John Shively, chief executive officer of Northern Dynasty Minerals Ltd.'s 100-per-cent-owned U.S.-based subsidiary, Pebble Limited Partnership, made the following statement regarding the action: "The jobs, economic activity and revenue from Pebble would bring significant positive benefits to the communities closest to us, as represented by INL and APC in this lawsuit. From the beginning, the EPA has given little weight to the views expressed by these communities because it did not fit their predetermined narrative against the project.

"The No Pebble scenario for the communities represented by these two village corporations is one in which there is continued outmigration, increased already-higher-than-average cost of living and lack of opportunities. A desire to change this trajectory and find good jobs for their shareholders is a key underpinning of the litigation filed today. It is ultimately about opportunity and hope.

"We have local support for the project, and the final environmental impact statement for Pebble, as published by the U.S. Army Corp[s] of Engineers, describes in detail the potential for many benefits from Pebble, including employment, reduction in the cost of living and significant local tax revenues. It further documents how local fishing permits continue to migrate to non-Alaskans and a high percentage of commercial fishing jobs are held by non-residents.

"Those who oppose Pebble have not provided any alternative that would improve the economy of this area. These two native village corporations understand that the EPA and our opposition care little about their future."

Ron Thiessen, president and chief executive officer of Northern Dynasty, said: "We have support from local native village corporations because Pebble represents the opportunity of a brighter future for these communities. This is how the Alaska model works. With its illegal veto, the EPA is robbing them of that future."

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 LP, is a 100-per-cent interest in a contiguous block of 1,840 mineral claims in southwestern Alaska, including the Pebble deposit, located 200 miles from Anchorage and 125 miles from Bristol Bay. The Pebble partnership is the proponent of the Pebble project.

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