Northern Dynasty: Pebble Partnership Served with Grand Jury Subpoena in Alaska

Rhea-AI Summary

Northern Dynasty Minerals Ltd. (NAK) announced that the Pebble Limited Partnership and former CEO Tom Collier received subpoenas from the U.S. Attorney's Office for Alaska. This investigation is related to previously disclosed recordings about the Pebble Project. The Company asserts that there are no current charges against any individuals or entities. Northern Dynasty plans to cooperate with the investigation and will keep investors informed through regular updates. The Pebble Project aims to develop significant mineral resources in southwest Alaska, encompassing over 2,400 mineral claims.

Positive

• Company is cooperating with the investigation, indicating transparency.
• The Pebble Project remains a significant mineral resource initiative.

Negative

• Subpoenas indicate potential legal challenges that could impact operations.
• Ongoing investigation may lead to uncertainty regarding the project's future.

VANCOUVER, BC / ACCESSWIRE / February 5, 2021 / Northern Dynasty Minerals Ltd. (TSX:NDM)(NYSE:NAK) ("Northern Dynasty" or the "Company") announces that the Pebble Limited Partnership (the "Pebble Partnership") and Tom Collier, the former Chief Executive Officer of the Pebble Partnership, have each been served with a subpoena issued by the United States Attorney's Office for the District of Alaska to produce documents in connection with a grand jury investigation apparently involving previously disclosed recordings of private conversations regarding the Pebble Project. The Company, the Pebble Partnership, and Mr. Collier intend to cooperate with the investigation. The Company is not aware of any charges having been filed against any entity or individual in this matter. The Company will provide updates on the investigation in its periodic and interim filings and releases as necessary and appropriate.

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, is a 100% interest in a contiguous block of 2,402 mineral claims in southwest 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, 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.

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 events or developments that the Company expects are forward-looking statements. These forward-looking statements include statements as to the investigation by the United States Attorney of the District of Alaska, the cooperation by the Pebble Partnership and Mr. Collier and updates relating to the investigation. Although the Company believes the expectations expressed in its forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as any assurance as to the outcome of the investigation. 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/628174/Northern-Dynasty-Pebble-Partnership-Served-with-Grand-Jury-Subpoena-in-Alaska

FAQ

What investigation is Northern Dynasty Minerals Ltd. (NAK) involved in?

Northern Dynasty Minerals is involved in a grand jury investigation initiated by the U.S. Attorney's Office for Alaska concerning recordings related to the Pebble Project.

What was the role of Tom Collier in the subpoenas issued to Northern Dynasty (NAK)?

Tom Collier, the former CEO of the Pebble Partnership, was served with a subpoena alongside the Pebble Limited Partnership.

What does the Pebble Project entail for Northern Dynasty Minerals (NAK)?

The Pebble Project aims to develop one of the world's most significant mineral resources located in southwest Alaska, covering over 2,400 mineral claims.

Has Northern Dynasty Minerals (NAK) received any charges related to the investigation?

As of now, Northern Dynasty is not aware of any charges filed against any entity or individual in connection with the investigation.

How will Northern Dynasty Minerals (NAK) communicate updates regarding the investigation?

Northern Dynasty will provide updates on the investigation through its periodic and interim filings as necessary.