Northern Dynasty: Continuous Disclosure
April 1, 2010, Vancouver, BC - As a result of a review by the British Columbia Securities Commission, we are issuing the following press release to clarify our disclosure. The condensed interim financial statements of Northern Dynasty Minerals Ltd. ("Northern Dynasty" or the "Company") (TSX:NDM; NYSE Amex: NAK) for the period ended September 30, 2009 originally filed on Sedar on November 16, 2009 did not contain the three month International Financial Reporting Standard ("IFRS") reconciliation to Canadian GAAP disclosure as required by IFRS 1(32)(a)(ii). The Company had previously included a nine-month IFRS reconciliation for the period ended September 30, 2009. The condensed interim financial statements for the period September 30, 2009 has been revised to include the disclosure required by IFRS 1(32)(a)(ii) and has been filed on Sedar on March 31, 2010.
All other information contained in the originally filed condensed interim financial statements remains unchanged. This revised condensed interim financial statements for the period ended September 30, 2009 does not reflect events occurring after the filing of the original condensed interim financial statements, or modify or update the disclosure therein, in any way other than as required to reflect the amendments set forth herein.
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.
Chief Financial Officer
No regulatory authority accepts responsibility for the adequacy or accuracy of this release.
Comments on Forward Looking Information, Estimates 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, especially those that address estimated resource quantities, grades and contained metals, are forward-looking statements because they are generally made on the basis of estimation and extrapolation from a limited number of drill holes and metallurgical studies. Although diamond drill hole core provides valuable information about the size, shape and geology of an exploration project, there will always remain a significant degree of uncertainty in connection with these valuation factors until a deposit has been extensively drilled on closely spaced centers, which has occurred only in specific areas on the Pebble Project. 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 guarantees of the ultimate size, quality or commercial feasibility of the Pebble Project or of the Company's future performance. The likelihood of future mining at the Pebble Project is subject to a large number of risks and will require achievement of a number of technical, economic and legal objectives, including obtaining necessary mining and construction permits, completion of pre-feasibility and final feasibility studies, preparation of all necessary engineering for underground workings and processing facilities as well as receipt of significant additional financing to fund these objectives as well as funding mine construction. Such funding may not be available to the Company on acceptable terms or on any terms at all. There is no known ore at the Pebble Project and there is no assurance that the mineralization at the Pebble Project will ever be classified as ore. The need for compliance with extensive environmental and socio-economic rules and practices and the requirement for the Company to obtain government permitting can cause a delay or even abandonment of a mineral project. The Company is also subject to the specific risks inherent in the mining business as well as general economic and business conditions. For more information on the Company, Investors should review the Company's annual Form 40-F filing with the United States Securities and Exchange Commission and its home jurisdiction filings that are available at www.sedar.com.