VANCOUVER, Sept. 4 /CNW/ - Northern Dynasty Minerals Ltd. ("Northern
Dynasty" or the "Company") (TSX:NDM; AMEX: NAK) announces that last week,
Alaskans issued a clear vote of confidence in the state's water quality
standards, its protections for salmon and human health, and its overall
regulatory framework for hard rock mining.
On August 26, 2008, Alaska voters went to the polls for the state's
primary election and cast their ballots on Ballot Measure 4, an initiative
that called into question existing water quality standards and could have
introduced new, undefined regulations for mining. By a substantial 57 - 43
majority, Alaskans defeated Ballot Measure 4 and reinforced their support for
the state's existing regulatory framework.
"The people of Alaska clearly believe that the state and federal
permitting process, and existing environmental standards for water quality and
fish protection, are the appropriate measures by which the Pebble Project and
other hard rock mines in the state should be judged," said Ronald Thiessen,
President and CEO of Northern Dynasty Minerals Ltd. "We're encouraged by the
outcome and support the regulatory process in Alaska.
"Alaskans want Pebble to be judged on the facts, based on empirical
science and the rigorous environmental standards and permitting requirements
of the United States and the State of Alaska. We agree, and are committed to
developing an environmentally sound and socially responsible project that is
acceptable to federal and state regulators and the citizens of the state."
Pebble Limited Partnership (the "Partnership"), the Alaska-based
operation owned 50 percent by each of Northern Dynasty and a U.S. subsidiary
of Anglo American plc, is currently advancing project design and engineering
programs, and is expected to finalize a Prefeasibility Study for the Pebble
Project in the second half of 2009 after receiving stakeholder input.
Once the Prefeasibility Study is complete, the Partnership will apply for
the requisite state and federal permits for the Pebble Project. The permitting
process will be guided by the National Environmental Policy Act (NEPA),
involve at least 11 state and federal regulatory agencies, and provide
multiple and ongoing opportunities for public input.
President and CEO
No regulatory authority accepts responsibility for the adequacy
or accuracy of this release.
Northern Dynasty is solely and entirely responsible for the contents
of this news release. No other party, including any parties which
have an interest in the project, are in any way responsible for the
Comments on Forward Looking Information, Estimates and other
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 prefeasibility 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.
For further information:
For further information: on Northern Dynasty and the Pebble Project,
visit our website at www.northerndynastyminerals.com, or contact Investor
Services at (604) 684-6365 or within North America at 1-800-667-2114