Northern Dynasty: U.S. Army Corps Have Extended Deadline to Comment on Future Plans to June 29, 2023

Rhea-AI Summary

Northern Dynasty Minerals reports that its subsidiary Pebble Limited Partnership has been granted a second extension by the US Army Corps of Engineers for the deadline to communicate its plan for moving forward with reconsideration of the administrative record after remand.

Positive

• The extension allows Pebble Partnership more time to review the appeal decision and plan its next steps.
• This indicates that the USACE is taking the reconsideration process seriously and is willing to give Pebble Partnership an opportunity to address any flaws in the permitting decision.

Negative

• The delay in the decision-making process may cause uncertainty for investors and potentially impact the stock price.

VANCOUVER, BC / ACCESSWIRE / June 26, 2023 / Northern Dynasty Minerals Ltd. (TSX:NDM)(NYSE American:NAK) ("Northern Dynasty" or the "Company" or "NDM") reports that its 100%-owned U.S.-based subsidiary Pebble Limited Partnership ("Pebble Partnership" or "PLP") has been informed that the Alaska District of the U.S. Army Corps of Engineers ("USACE") requested a second extension of the 45 day deadline to communicate the plan on how the District plans to move forward with its reconsideration of the administrative record after remand. The Division Engineer approved the request for the extension and the revised deadline is June 29, 2023.

As reported by the Company on May 1, 2023, in a news release entitled "US Army Corps Remand highlights serious flaws in the permitting decision", the USACE Pacific Ocean Division had given the Alaska District 45 days to review the appeal decision and notify the parties how it plans to proceed in light of the EPA's Final Determination. The original deadline expired on Friday, June 9, 2023. The news release is available at the following link: https://northerndynastyminerals.com/news/news-releases/2023/northern-dynasty-u.s-army-corps-remand-highlights-serious-flaws-in-the-permitting-decision/

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 1,840 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.

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 public filings, which include forward looking information cautionary language and risk factor disclosure regarding the Company and the Pebble Project in Canada at www.sedar.com and the US at www.sec.gov.

Ronald W. Thiessen
President & CEO

U.S. Media Contact:
Dan Gagnier, Gagnier Communications (646) 569-5897

SOURCE: Northern Dynasty Minerals Ltd.

View source version on accesswire.com:
https://www.accesswire.com/763603/Northern-Dynasty-US-Army-Corps-Have-Extended-Deadline-to-Comment-on-Future-Plans-to-June-29-2023

FAQ

What is the deadline extension for?

The deadline extension is for Pebble Partnership to communicate its plan for moving forward with reconsideration of the administrative record after remand.

What is the significance of the extension?

The extension allows Pebble Partnership more time to review the appeal decision and plan its next steps.

How does this affect the USACE's view on the permitting decision?

The extension indicates that the USACE is taking the reconsideration process seriously and is willing to give Pebble Partnership an opportunity to address any flaws in the permitting decision.

Could the delay impact the stock price?

Yes, the delay in the decision-making process may cause uncertainty for investors and potentially impact the stock price.