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October 4, 2007 - Ronald W. Thiessen, President and CEO of Northern Dynasty Minerals Ltd. (TSX Venture: NDM; AMEX: NAK) is pleased to provide a Pebble Project update. As announced n July 31, 2007 a wholly owned subsidiary of Anglo American plc ("Anglo") became a 50% partner in the Pebble Project with a wholly owned affiliate of Northern Dynasty Minerals Ltd ("Northern Dynasty") . The two partners formed Pebble Limited Partnership(the Partnership), which is managed by its General Partner, Pebble Mines Corp., a company which is also owned 50% by each of Anglo and Northern Dynasty. For Anglo to retain its 50% partnership interest, it will need to invest the next US$1.425 billion in project development costs. Northern Dynasty owns an equal 50% interest and is carried during Anglo's investment period. The goal of the Partnership is to engineer, permit, construct and operate a modern, long-life mine at the Pebble Project. The partners are targeting completion of a pre-feasibility study in December 2008, a feasibility study by 2011 and commencement of commercial production by 2015.
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