Mr. Ronald Thiessen reports

NORTHERN DYNASTY COMPLETES C$7.25 MILLION PRIVATE PLACEMENT

Northern Dynasty Minerals Ltd., further to its April 29, 2020, news release, has completed the private placement of 10,357,143 common shares of the company at a price of 70 cents per share for gross proceeds of approximately $7.25-million. The issued shares are subject to applicable resale restrictions, including a four-month hold under Canadian securities legislation.

The combined aggregate proceeds from the public offering, announced earlier today, and the private placement are $17.35-million.

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 2,402 mineral claims in southwest Alaska, including the Pebble deposit.

We seek Safe Harbor.