Mr. Ronald Thiessen reports

NORTHERN DYNASTY: UPDATE ON VETO REMOVAL NEGOTIATIONS AND ORDER SETTING SUMMARY JUDGEMENT TIMETABLE

Northern Dynasty Minerals Ltd. and its 100-per-cent-owned, U.S.-based subsidiary, Pebble Limited Partnership, have provided an update on veto removal negotiations with the U.S. government and on the recent order by Judge Gleason in the Alaska federal district granting the company's motion to set a summary judgment briefing schedule for good cause shown.

"We continue to have active negotiations with government officials regarding the withdrawal of the illegal Obama/Biden-era veto," said Ron Thiessen, Northern Dynasty's president and chief executive officer. "It is still too early to tell where these efforts will land, but we remain optimistic that these discussions will continue to be fruitful and lead to a rational resolution."

"It is important to keep in mind that we are pursuing a parallel track of negotiations and court action in the interest of keeping timelines as tight as possible," Mr. Thiessen continued. "Summary judgment is a standard legal process that allows the court to evaluate the merits of the case based on the existing record, without requiring a full trial. If we are able to come to a resolution that removes this unlawful veto, obviating the need for continued litigation, then we can move to terminate the summary judgment process. This is, undoubtedly, our preferred outcome."

Judge Gleason has now set the summary briefing schedule after receiving submissions by both the plaintiffs and the defendants. Under the order, the plaintiffs (the State of Alaska, Pebble partnership and Iliamna Natives Ltd. et al.) will file their opening briefs by Oct. 3, 2025. The Department of Justice (DOJ) will then file its response brief by Jan. 2, 2026, and the plaintiffs will file their response to the DOJ's brief by Feb. 27, 2026. The case against the U.S. Army Corps of Engineers remains stayed.

Mr. Thiessen continued: "We appreciate Judge Gleason's quick decision on the motions before her. With the schedule now set, we have a clear and defined timeline during which we can aim to arrive at a resolution. We remain committed to supporting U.S. policies that prioritize responsible, environmentally sound domestic resource development and are committed to working constructively with regulatory agencies. Withdrawal of the illegal veto will be a step towards a very significant new source of domestic copper as well significant economic benefits for the region, the state and the country."

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, Pebble LP, is a 100-per-cent interest in a contiguous block of 1,840 mineral claims in southwestern Alaska, including the Pebble deposit, located 200 miles from Anchorage and 125 miles from Bristol Bay. The Pebble partnership is the proponent of the Pebble project.

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