BRIEF

on Northern Dynasty Minerals Ltd. (NASDAQ:NAK)

Northern Dynasty Faces USACE Decision Amid EPA Veto Complications

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Northern Dynasty Minerals Ltd., along with its subsidiary Pebble Limited Partnership, has been informed by the US Army Corps of Engineers (USACE) that they will not proceed with the remand process for the Pebble Project's permit application, previously denied on November 25, 2020. This decision follows the intervention of the U.S. Environmental Protection Agency's (EPA) veto, which justified USACE’s reluctance to revisit their prior decision. Despite administrative reviews identifying multiple errors in the initial denial, USACE cited the existing EPA veto as grounds for their decision, effectively halting any revision efforts.

The company expressed disagreement with USACE's decision, viewing it as a rejection based on procedural grounds rather than substantive issues with the project itself. CEO Ron Thiessen criticized the EPA's veto for being heavily reliant on what he claims are flawed findings by the USACE. Northern Dynasty has initiated legal action, challenging the EPA veto in hopes that the federal courts will recognize and rectify what they consider to be a bureaucratic misstep. Legal proceedings in conjunction with the State of Alaska are ongoing, aiming to remove the veto and revive engagement with USACE.

R. E.

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