|April 07, 2014|
Rio Tinto grants Northern Dynasty shares to Alaska-based charitable foundations
|April 7, 2014 Vancouver, BC - Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE MKT: NAK) ("Northern Dynasty" or the "Company") reports that Rio Tinto has advised management that it intends to divest of its 19.1% shareholding in Northern Dynasty by way of gifting its shares to two Alaskan charitable foundations. This decision follows Rio Tinto's December 23, 2013 announcement of a strategic asset review, to include its shareholding in Northern Dynasty.|
Northern Dynasty shares held by Rio Tinto (18,145,845) will be divided equally between the Alaska Community Foundation to fund state-wide educational and vocational training and the Bristol Bay Native Corporation Education Foundation, which supports educational and cultural programs in southwest Alaska. Both organizations are known to the Company and the Pebble Limited Partnership ("Pebble Partnership" or "PLP"); the Alaska Community Foundation, in particular, helped facilitate PLP's five-year, $5 million investment in Bristol Bay communities via the Pebble Fund.
"We are pleased that Rio Tinto's interest in Northern Dynasty will provide meaningful, long-term economic contributions to charitable organizations in Alaska that are dedicated to providing educational opportunities for young people, and to preserving culture and traditional ways of life," said Northern Dynasty President & CEO Ron Thiessen. "We look forward to meeting with the leadership of the Alaska Community Foundation and Bristol Bay Native Corporation Education Foundation in the days ahead to better understand their long-term goals and aspirations, and how their ownership interest in Northern Dynasty and the Pebble Project can make the greatest possible contribution to the people and communities they serve."
About the Pebble Project
The Pebble Project is an initiative of the Pebble Partnership to responsibly develop a globally significant copper, gold and molybdenum deposit in southwest Alaska into a modern, long-life mine, which will benefit not only the owner, but the people, culture and industries of the State of Alaska, as well as suppliers, consultants and industries in the Lower 48 United States of America.
A 2013 study authored by IHS Global Insight, entitled The Economic and Employment Contributions of a Conceptual Pebble Mine to the Alaska and United States Economies found the Pebble Project has the potential to support 15,000 American jobs and contribute more than $2.5 billion annually to US GDP over decades of production. The IHS Global Insight study is available at www.northerndynasty.com.
The Pebble Project is located 200 miles southwest of Anchorage on state land designated for mineral exploration and development. It is situated in a region of rolling tundra approximately 1,000 feet above sea-level, 65 miles from tidewater on Cook Inlet and presents favourable conditions for successful mine site and infrastructure development.
About Northern Dynasty Minerals Ltd.
Northern Dynasty is a mineral exploration and development company based in Vancouver, Canada. Northern Dynasty's principal asset is the Pebble Project in southwest Alaska, USA, an advanced-stage initiative to develop one of the world's most important mineral resources.
For further details on Northern Dynasty please visit the Company's website at www.northerndynasty.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
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