Northern Dynasty Announces Increase to Bought Deal Offering of Common Shares - Seite 2

The Offering is expected to close on or about January 26, 2017 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange and the NYSE MKT. Proceeds of the Offering are anticipated to be used for (i) advancement of the Company's multi-dimensional strategy to address the pre-emptive regulatory action of the U.S. Environmental Protection Agency under Section 404 (c) of the Clean Water Act; (ii) to prepare the Pebble Project for the initiation of federal and state permitting under the U.S. National Environmental Policy Act; (iii) environmental monitoring, engineering and environmental studies, field investigations and related technical studies to finalize a proposed development plan for the Pebble Project, (iv) enhanced outreach and engagement with political and regulatory offices in the Alaska state and U.S. federal government and among Alaska Native partners and broader regional and state-wide stakeholder groups, (v) Alaskan corporate, tenure and site maintenance, (vi) general corporate purposes, and (vii) working capital requirements.

The preliminary short form prospectus is available on SEDAR at www.sedar.com. The registration statement on Form F-10, including the U.S. form of the preliminary short form prospectus, is available on the SEC's website at www.sec.gov. Alternatively, a written prospectus relating to the Offering may be obtained upon request by contacting the Company or Cantor Fitzgerald Canada Corporation in Canada, attention: Equity Capital Markets, 181 University Avenue, Suite 1500, Toronto, ON, M5H 3M7, email: [e-mail]; Cantor Fitzgerald & Co. in the United States, Attention: Equity Capital Markets, 110 East 59th Street, New York, New York, 10022, telephone: [phone]; TD Securities Inc. in Canada, Attention: Symcor, NPM (tel: [phone], email: [e-mail]), 1625 Tech Avenue, Mississauga ON L4W 5P5; TD Securities (USA) LLC in the United States (tel: [phone]), 31 W 52nd Street, New York NY 10019; BMO Capital Markets in Canada by email at [e-mail]; or BMO Capital Markets Corp. in the United States, Attn: Equity Syndicate Department, 3 Times Square, 25th Floor, New York, NY 10036, or by telephone at [phone] or by email at [e-mail].