Exhibit 99.1
Northern Dynasty Defers Annual Meeting of Shareholders
and
Provides Update on Annual Filings
April 3, 2020, Vancouver, BC – Northern Dynasty
Minerals Ltd. (TSX: NDM; NYSE American: NAK) ("Northern Dynasty" or
the "Company") announces that it has elected to defer its 2020
Annual General Meeting of Shareholders normally held in mid June
due to COVID-19 concerns, and plans to hold it later in the
year.
The
Company also advises that consistent with previous years its
audited consolidated financial statements for the fiscal year ended
December 31, 2019, included in the Company’s Annual Report on
Form 40-F, contained an audit report from its independent
registered public accounting firm with a going concern emphasis of
matter. Release of this information is required by Section 610(b)
of the NYSE American Company Guide. It does not represent any
change or amendment to any of the Company’s filings for the
fiscal year ended December 31, 2019.
About Northern Dynasty Minerals Ltd.
Northern
Dynasty is a mineral exploration and development company based in
Vancouver, Canada. Northern Dynasty's principal asset, owned
through its wholly owned Alaska-based U.S. subsidiary, the Pebble
Partnership, is a 100% interest in a contiguous block of 2,402
mineral claims in southwest Alaska, including the Pebble deposit.
The Pebble Partnership is the proponent of the Pebble Project, an
initiative to develop one of the world's most important mineral
resources.
For
further details on Northern Dynasty and the Pebble Project, please
visit the Company's website at www.northerndynastyminerals.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.
Ronald
W. Thiessen
President
& CEO
US
Media Contact:
Dan
Gagnier
Gagnier
Communications
(646)
569-5897
Forward Looking Information 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, that address exploration
drilling, exploitation activities and events or developments that
the Company expects are forward-looking statements. 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, that
the Pebble Project will secure all required government permits, or
of the Company's future performance.
Assumptions used by NDM to develop forward-looking statements
include the assumptions that (i) the Pebble Project will obtain all
required environmental and other permits and all land use and other
licenses without undue delay, (ii) studies for the development of
the Pebble Project will be positive, (iii) NDM will be able to
establish the commercial feasibility of the Pebble Project, and
(iv) NDM will be able to secure the financing required to develop
the Pebble Project. 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 (i) obtaining necessary mining and
construction permits, licenses and approvals without undue delay,
including without delay due to third party opposition or changes in
government policies, (ii) the completion of feasibility studies
demonstrating the Pebble Project mineral reserves that can be
economically mined, (iii) completion of all necessary engineering
for mining and processing facilities, and (iv) receipt by NDM of
significant additional financing to fund these objectives as well
as funding mine construction, which financing may not be available
to NDM on acceptable terms or on any terms at all. The Company is
also subject to the specific risks inherent in the mining business
as well as general economic and business conditions, as well as
risks relating to the uncertainties with respect to the effects of
COVID-19.
The National Environment Policy Act EIS process requires a
comprehensive “alternatives assessment” be undertaken
to consider a broad range of development alternatives, the final
project design and operating parameters for the Pebble Project and
associated infrastructure may vary significantly from that
currently being advanced. As a result, the Company will continue to
consider various development options and no final project design
has been selected at this time.
For more information on the Company, Investors should review the
Company's filings with the United States Securities and Exchange
Commission and its home jurisdiction filings that are available
at www.sedar.com.