Northern Dynasty Minerals Ltd. and 100%-owned U.S.- based subsidiary Pebble Limited Partnership have been advised by the US Army Corps of Engineers that, after months of successive delays, the USACE has declined to engage in the remand process related to the November 25, 2020 denial of a permit application for the Pebble Project, citing the U.S. Environmental Protection Agency's ("EPA") intervening veto of the development at Pebble. After the November 25, 2020, denial of the permit application for the Pebble project, a separate division of the USACE remanded the denial decision back to the USACE Alaska District on April 25, 2023, after an administrative review found numerous errors with the denial decision. After several requests for extensions, the USACE has announced that it has declined to engage in the Remand process altogether.

The USACE reasoning is due to the EPA veto, which effectively prevents them from altering their decision while that veto is in place. On March 15, 2024, announced the company were filing an appeal of the EPA veto in Federal District Court in Alaska, and the State of Alaska filed its action against the veto on April 11, 2024. The company is reviewing the decision of the USACE not to engage in the remand processes and are evaluating appropriate next steps regarding today's announcement.

It is worth noting that the USACE decision is without prejudice and not based on the merits of the many technical issues raised in appeal.