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July 29, 2010

Since acquiring the Pebble Project in 2001, Northern Dynasty has delineated and advanced one of the world's greatest stores of mineral wealth.

Located on American soil in southwest Alaska, the Pebble deposit is remarkable for both its size and composition. Current resource estimate includes 5.94 billion tonnes in the measured and indicated category containing 55 billion lb copper, 66.9 million oz gold and 3.3 billion lb molybdenum; and 4.84 billion tonnes in the inferred category, containing 25.6 billion lb copper, 40.4 million oz gold and 2.3 billion lb molybdenum. Quantities of silver, palladium and rhenium also occur in the deposit.

In 2007, a wholly-owned affiliate of Northern Dynasty entered a 50:50 partnership with a wholly-owned subsidiary of Anglo American plc to permit, construct and operate a modern, long-life mine at Pebble. Based on Anglo American's staged investment of $1.425 to $1.5 billion, both companies share equal ownership, board representation and rights in the Alaska-based Pebble Limited Partnership.

Under the leadership of the Pebble Partnership, the Pebble Project is on a path to development. Key project strengths include:

• a known mineral resource with the tonnes, grade, metallurgy and geometry to support a modern, long-life mine;
• favorable terrain — low elevation;
• a stable and predictable regulatory environment;
• ready human and financial resources; and,
• broad public support for responsible resource development in Alaska.

Unless otherwise noted, Northern Dynasty is solely responsible for the content of the disclosure set out herein.

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INVESTOR INFORMATION Introduction to the Pebble Partnership (WMF, 6 Mb) PROJECT PARTNER

FACT SHEET May 2010 (980 Kb)   Learn more about Alaska's Pebble Partnership