Pebble Project

Project Economics

Northern Dynasty announced a Preliminary Economic Assessment in February 2011. It can be found at www.sedar.com at March 22, 2011. While instructive as to the size and scale of project that the Pebble resource might support, it is now outdated and cannot be relied upon.

The Environmental Impact Statement (EIS) process currently underway by the US Army Corps of Engineers (the "Corps of Engineers") will consider alternative scenarios with respect to a number of aspects of the proposed project. Northern Dynasty (through the Pebble Partnership) is continuing engineering studies and has proposed some changes to the original project description, and may propose more changes as the process unfolds. Northern Dynasty anticipates having a complete understanding of, and being able to properly assess all of the proposed alternatives that the Corps of Engineers will be considering as part of the scoping process conducted during the initial phase of the EIS, so that an economic analysis can be completed.

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