Northern Dynasty Minerals Ltd (NAK)

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On the positive side - Some of the good stuff from Management Discussion page 6

Northern Dynasty near-term goals are: 1) to secure a project partner(s) with the financial resources to substantially contribute to permitting, building and operating a world-class mine at Pebble and 2) to initiate federal and state permitting in 2017.

The Company continues to progress with goal one through advancing discussions with potential partners. In addition, significant advancement toward goal two occurred during the quarter.

• On May 12, 2017, Northern Dynasty announced that the Pebble Partnership had achieved settlement (the "joint settlement agreement”) with the US Environmental Protection Agency (see section 1.2.1.2, Joint Settlement Agreement). The Pebble Project is now on a normal course to permitting with the right to propose a development plan for Pebble and have it assessed against the robust environmental regulations and rigorous permitting requirements enforced in Alaska and the US; and

• The 2017 technical program was launched, encompassing a comprehensive program of engineering and environmental studies, field investigations and related technical studies directed toward finalizing a development design and preparing documentation for permit applications.

http://www.northerndynastyminerals.com/i/pdf/ndm/2017-Q2-FS.pdf

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