Northern Dynasty Minerals Ltd. - Pebble Deposit Drilling Results Update

VANCOUVER, Nov. 20 /CNW/ - Northern Dynasty Minerals Ltd. ("Northern
Dynasty" or the "Company") (TSX: NDM; AMEX: NAK) reports that core drilling
activities at the Pebble Limited Partnership's ("PLP", "Pebble Partnership" or
the "Partnership") project site in southwest Alaska continue to intersect long
intervals of higher grade mineralization, and demonstrate a very high level of
continuity within the Pebble deposit.
The focus of the Partnership's 2008 drill program is to upgrade the
classification for a large portion of the mineral resource in the Pebble East
area and to delineate the deposit's extent and overall geometry in order to
facilitate comprehensive mine planning. To early November 2008, PLP crews had
completed 123,000 feet of drilling in 27 infill and step-out holes. Results
have been received for 18 holes (numbered 8401 through 8416, 8419 and 8421),
and assays are pending for seven other holes. Drilling is ongoing with six
rigs working on new holes.
"The primary goal of the 2008 drill program is to allow the Partnership
to finalize a Prefeasibility Study next year," said Northern Dynasty President
& CEO Ron Thiessen. "The results we are releasing today are fully consistent
with that goal. Not only do they confirm the consistency and tenor of the
Pebble deposit, but also the potential to expand the mineral resource in
future."
Thiessen said a revised mineral resource estimate for the Pebble deposit
will be complete before year end, and is expected to move a significant
proportion of the mineralization in the Pebble East area from an inferred to
an indicated category. He added that Northern Dynasty plans to cease reporting
on the Pebble West and Pebble East zones separately, and publish a single
mineral resource estimate for the overall Pebble Deposit.
A Table of 2008 Pebble Deposit Assay Results is included with this news
release and a Drill Hole Location Plan Map is posted on Northern Dynasty's
website www.northerndynastyminerals.com/ndm/NewsReleases.asp.

<<
Highlights include:

- Hole 8405 intersected 2,460 feet grading 1.20% copper equivalent
(CuEQ(1)) (0.78% Cu, 0.25 g/t Au, 0.046% Mo). Included in this
intersection is a 386 foot interval grading 1.87% CuEQ (1.40% Cu,
0.16 g/t Au, 0.066% Mo).
- Hole 8410 intersected 1,525 feet grading 1.21% CuEQ (0.80% Cu, 0.44
g/t Au, and 0.023% Mo). Included in this intersection is a 730 foot
interval grading 1.44% CuEQ (0.92% Cu, 0.57 g/t Au, 0.027% Mo).
- Hole 8412 intersected 1,301 feet grading 1.76% CuEQ (1.11% Cu, 0.69
g/t Au, and 0.038% Mo). Included in this intersection is a 649 foot
interval grading 1.96% CuEQ (1.34% Cu, 0.65 g/t Au, 0.036% Mo).
- Hole 8413 intersected 2,469 feet grading 1.15% CuEQ (0.80% Cu, 0.20
g/t Au, and 0.040% Mo). Included in this intersection is a 1789 foot
interval grading 1.32% CuEQ (0.96% Cu, 0.23 g/t Au, 0.036% Mo).
- Hole 8414 intersected 1,224 feet grading 1.27% CuEQ (0.60% Cu, 0.80
g/t Au, and 0.027% Mo). Included in this intersection is a 796 foot
interval grading 1.42% CuEQ (0.59% Cu, 1.06 g/t Au, 0.024% Mo).
- Hole 8515 intersected 2009 feet grading 1.15% CuEQ (0.64% Cu, 0.54
g/t Au and 0.029% Mo). Included in this intersection is a 1060 feet
interval grading 1.52% CuEQ (0.81% Cu, 0.84 g/t Au and 0.028% Mo).
>>

Of particular note, hole 8413 (2,469 feet grading 1.15% CuEQ)
demonstrates the strength of the mineralizing system in the central part of
Pebble East. Holes 8410, 8412, 8414 and 8415 drilled in the southeast, holes
8408, 8411 and 8419 drilled in the northwest, and hole 8404 drilled in the
south, tested for the extent of the deposit. The positive results from these
holes confirm the open-ended potential in these areas.
The 2008 drilling program has also contributed significantly to the
geological and structural understanding of the Pebble deposit which will
assist with the Prefeasibility Study work.
"Pebble continues to distinguish itself as one of the world's great
mineral deposits, with the potential to support a modern, long-life mine that
delivers substantial benefits to shareholders, local communities and the State
of Alaska," Thiessen said. "Based on the positive drill results released
today, and ongoing progress made by the project's engineering, environmental
and stakeholder relations teams, the Pebble Partnership remains on track to
finalize a Prefeasibility Study in the latter half of 2009 and commence
project permitting in early 2010."
Mark Rebagliati, P.Eng., a Qualified Person who is supervising the
exploration and drilling programs for the Pebble Project on behalf of Northern
Dynasty, has reviewed this release.

Review Canadian public filings at www.sedar.com and US public filings at
www.sec.gov.

<<
On behalf of the Board of Directors
Ronald W. Thiessen
President & CEO

-------------------------------------------------------------------------
Core logging and sampling are completed in PLP's secure facility at
Iliamna, Alaska. The NQ-size core is sawn and samples are transported to
the ALS Chemex laboratory in Fairbanks for drying, weighing and crushing.
Samples are shipped by airfreight to the main ALS Chemex laboratory,
North Vancouver, Canada (an ISO 9003 certified laboratory) for final
preparation and analysis. Gold is determined by 30 g Fire Assay (FA)
fusion with an Atomic Absorption Spectroscopy (AAS) finish. Copper,
molybdenum and 23 other elements are assayed by four acid digestion with
an Inductively Coupled Plasma-Emission Spectroscopy (ICP-ES) finish. PLP
includes standards, duplicates and blanks in addition to the laboratory's
internal quality control work. Duplicate samples are analyzed by Acme
Analytical Laboratories of Vancouver, Canada.
-------------------------------------------------------------------------

Sole Responsibility

No regulatory authority accepts responsibility for the accuracy
of this release.
Northern Dynasty is solely and entirely responsible
for the contents of this news release. No other party,
including any parties which have an interest in the project,
are in any way responsible for the contents hereof.

Comments on Forward Looking Information, Estimates 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, especially those that address estimated
resource quantities, grades and contained metals, are forward-looking
statements because they are generally made on the basis of estimation and
extrapolation from a limited number of drill holes and metallurgical studies.
Although diamond drill hole core provides valuable information about the size,
shape and geology of an exploration project, there will always remain a
significant degree of uncertainty in connection with these valuation factors
until a deposit has been extensively drilled on closely spaced centers which
has occurred only in specific areas on the Pebble Project. 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 or of the Company's future performance.
Subsequent results and developments may differ materially from those
postulated in the estimates and forward-looking statements. Other factors that
could cause the Company's actual results and performance to differ materially
from those in forward-looking statements include adverse market prices for
metals, the conclusions of detailed feasibility and technical analyses, lower
than expected grades and quantities of resources, mining rates and metal
recovery rates and the fact that necessary capital may not be available to the
Company on terms acceptable to it or at all. The need for compliance with
extensive environmental and socio-economic rules and practices and the
requirement for the Company to obtain government permitting can cause a delay
or even abandonment of a mineral project. The Company is subject to the
specific risks inherent in the mining business as well as general economic and
business conditions. For more information on the Company, Investors should
review the Company's annual Form 20-F filing with the United States Securities
and Exchange Commission and its home jurisdiction filings that are available
at www.sedar.com.

<<
Information about CuEQ
>>

Copper equivalency or "CuEQ" is a manner of expressing poly-metallic
deposits as a grade of the principal mineralization (by value). As used
herein, gold and molybdenum values have been expressed as part of the copper
grade. CuEQ as calculated herein is based on assumed metal prices of
US$1.80/lb for copper, US$800/oz for gold, and US$10.00/lb for molybdenum.
Copper equivalent has not been adjusted for metallurgical recoveries.
Adjustment factors to account for differences in relative metallurgical
recoveries for gold, copper and molybdenum depend upon the completion of
definitive metallurgical testing. Significant shifts in the relative values of
these metals can significantly change the CuEQ. CuEQ is provided for
illustrative purposes only.

<<
Information Concerning Estimates of Measured, Indicated
and Inferred Resources
>>

This news release uses the terms "measured resources", "indicated
resources" and "inferred resources". Northern Dynasty Minerals Ltd. advises
investors that although these terms are recognized and required by Canadian
regulations (under National Instrument 43-101 Standards of Disclosure for
Mineral Projects), the U.S. Securities and Exchange Commission does not
recognize them. Investors are cautioned not to assume that any part or all of
the mineral deposits in these categories will ever be converted into reserves.
In addition, "inferred resources" have a great amount of uncertainty as to
their existence, and economic and legal feasibility. It cannot be assumed that
all or any part of an Inferred Mineral Resource will ever be upgraded to a
higher category. Under Canadian rules, estimates of Inferred Mineral Resources
may not form the basis of feasibility or pre-feasibility studies, or economic
studies except for Preliminary Assessment as defined under 43-101. Investors
are cautioned not to assume that part or all of an inferred resource exists,
or is economically or legally mineable.

<<
PEBBLE DEPOSIT - 2008 ASSAY RESULTS

-------------------------------------------------------------------------
Verti-
cal
Depth Hole
to Di-
Drill Cret- Hole rec- Inter-
Hole ace- Dip tion cept Inter-
Num- ous (degr- (degr- (met From To cept Cu Au(2) Mo CuEQ(1)
ber (feet) ees) ees) res)(feet)(feet)(feet) % g/t % %
-------------------------------------------------------------------------
8401 1115 -90 0 506.9 1768 3431 1663 0.53 0.37 0.026 0.91
-------------------------------------------------------------------------
8401 1115 -90 0 incl. 81.1 1768 2034 266 0.85 0.85 0.024 1.53
-------------------------------------------------------------------------
8402 1376 -90 0 339.9 2433 3548 1115 0.84 0.11 0.019 1.02
-------------------------------------------------------------------------
8402 1376 -90 0 incl. 176.8 2938 3518 580 0.99 0.12 0.028 1.22
-------------------------------------------------------------------------
8403 1091 -90 0 719.9 1091 3453 2362 0.40 0.47 0.027 0.86
-------------------------------------------------------------------------
8403 1091 -90 0 incl. 27.4 1091 1181 90 0.80 0.69 0.019 1.36
-------------------------------------------------------------------------
8403 1091 -90 0 incl. 92.7 2035 2339 304 0.64 0.68 0.025 1.22
-------------------------------------------------------------------------
8404 1099 -90 333 280.7 1206 2127 921 0.64 0.48 0.035 1.14
-------------------------------------------------------------------------
8404 1099 -90 333 incl. 135.3 1683 2127 444 0.74 0.55 0.039 1.32
-------------------------------------------------------------------------
8405 1988 -74 237 749.8 2288 4758 2460 0.78 0.25 0.046 1.20
-------------------------------------------------------------------------
8405 1988 -74 237 incl. 442.6 2528 3990 1452 1.00 0.23 0.050 1.43
-------------------------------------------------------------------------
8405 1988 -74 237 and 117.7 2944 3330 386 1.40 0.16 0.066 1.87
-------------------------------------------------------------------------
8406 1282 -80 70 85.7 3567 3848 281 1.35 0.06 0.014 1.46
-------------------------------------------------------------------------
8407 4360+ -90 0 Lost - No assays
-------------------------------------------------------------------------
8408 989 -90 0 118.9 989 1379 390 0.40 0.67 0.024 0.97
-------------------------------------------------------------------------
8409 1616 -80 270 291.7 1626 2583 957 0.65 0.55 0.038 1.22
-------------------------------------------------------------------------
8409 1616 -80 270 incl. 124.1 1626 2033 407 0.96 0.80 0.051 1.76
-------------------------------------------------------------------------
8410 2426 -68 270 464.8 2617 4142 1525 0.80 0.44 0.023 1.21
-------------------------------------------------------------------------
8410 2426 -68 270 incl. 397.8 2617 3922 1305 0.88 0.47 0.021 1.30
-------------------------------------------------------------------------
8410 2426 -68 270 and 222.5 3192 3922 730 0.92 0.57 0.027 1.44
-------------------------------------------------------------------------
8410 2426 -68 270 and 88.4 3192 3482 290 1.12 0.79 0.023 1.76
-------------------------------------------------------------------------
8411 972 -85 20 686.4 986 3238 2252 0.32 0.34 0.026 0.68
-------------------------------------------------------------------------
8411 972 -85 20 incl. 45.7 986 1136 150 0.61 0.67 0.018 1.14
-------------------------------------------------------------------------
8411 972 -85 20 incl. 45.7 1898 2048 150 0.53 0.40 0.026 0.94
-------------------------------------------------------------------------
8411 972 -85 20 incl. 114.9 2861 3238 377 0.29 0.49 0.048 0.87
-------------------------------------------------------------------------
8412 2684 -73 325 396.5 2807 4108 1301 1.11 0.69 0.038 1.76
-------------------------------------------------------------------------
8412 2684 -73 325 incl. 197.8 2886 3535 649 1.34 0.65 0.036 1.96
-------------------------------------------------------------------------
8413 1618 -90 0 752.4 1619 4087 2469 0.80 0.20 0.040 1.15
-------------------------------------------------------------------------
8413 1618 -90 0 incl. 545.1 1619 3407 1789 0.96 0.23 0.036 1.32
-------------------------------------------------------------------------
8413 1618 -90 0 and 212.9 1619 2317 699 1.21 0.13 0.036 1.49
-------------------------------------------------------------------------
8413 1618 -90 0 and 225.6 2587 3327 740 0.83 0.35 0.040 1.28
-------------------------------------------------------------------------
8413 1618 -90 0 and 51.8 3157 3327 170 0.52 0.96 0.072 1.54
-------------------------------------------------------------------------
8414 2422 -75 318 373.1 2547 3779 1224 0.60 0.80 0.027 1.27
-------------------------------------------------------------------------
8414 2422 -75 318 incl. 242.6 2627 3423 796 0.59 1.06 0.024 1.42
-------------------------------------------------------------------------
8414 2422 -75 318 and 76.8 2942 3194 252 0.71 1.46 0.022 1.78
-------------------------------------------------------------------------
8414 2422 -75 318 and 45.4 3274 3423 149 0.77 1.24 0.035 1.77
-------------------------------------------------------------------------
8415 2634 -77 312 612.3 2703 4712 2009 0.64 0.54 0.029 1.15
-------------------------------------------------------------------------
8415 2634 -77 312 incl. 323.1 2703 3763 1060 0.81 0.84 0.028 1.52
-------------------------------------------------------------------------
8415 2634 -77 312 and 51.8 3183 3353 170 1.04 1.43 0.032 2.15
-------------------------------------------------------------------------
8416 623 -90 0 1009.2 623 3934 3311 0.14 0.16 0.015 0.33
-------------------------------------------------------------------------
8419 1078 -90 0 218.5 3283 4000 717 0.35 0.53 0.003 0.71
-------------------------------------------------------------------------
8419 1078 -90 0 incl. 48.8 3520 3680 160 0.64 0.43 0.007 0.96
-------------------------------------------------------------------------
8421 1690 -73 325 873.6 2212 5078 2866 0.19 0.11 0.003 0.27
-------------------------------------------------------------------------

(1) Copper equivalent calculations use metal prices of US$1.80/lb for
copper, US$800/oz for gold and US$10.00/lb for molybdenum.
Metallurgical recoveries and net smelter returns are assumed to be
100%. CuEQ = Cu % + (Au g/t x 25.72/39.68) + (Mo % x
220.46/39.68).
(2) Au values of greater than 5.0 g/t are capped at 5.0 g/t.
>>



For further information: on Northern Dynasty please visit the Company's
website at www.northerndynasty.com or contact Investor Services at (604)
684-6365 or within North America at 1-800-667-2114

Northern Dynasty Minerals Ltd. - Successful 2008 Study Program Continues At Alaska's Pebble Project

Northern Dynasty Minerals Ltd. ("Northern Dynasty" or the "Company") (CA:NDM: news, chart, profile) (NAK:
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, , ) reports that core drilling and other study activities at the Pebble Limited Partnership's ("PLP", "Pebble Partnership" or the "Partnership") project site in southwest Alaska continue to advance. The Pebble Project remains on track to complete a Prefeasibility Study in the second half of 2009.
"The Pebble Partnership continues to make sizable investments across a broad range of technical, environmental and social disciplines to move the project forward efficiently toward the completion of a proposed development plan and the onset of permitting," said Northern Dynasty President & CEO Ron Thiessen. "The tremendous amount of work undertaken this year by geological and geotechnical drilling crews, environmental and socioeconomic consultants, as well as the site personnel that support them, has moved us that much closer to reaching our program goals."
To the end of September 2008, PLP crews had completed 141,000 feet of drilling in 215 holes. This includes 109,800 feet of drilling in 24 holes to: increase the information base about known mineralization in the Pebble East deposit; continue to delineate the Pebble East deposit; and provide detailed geotechnical information for mine planning purposes. Crews also completed 31,160 feet of drilling in 191 dedicated environmental, geotechnical and metallurgical holes. Drilling at Pebble will continue through December 2008. Following a 6 to 8-week hiatus, site activities will begin again in February 2009.
Thiessen said the Pebble Partnership, with the assistance of co-owners Northern Dynasty and Anglo American plc, has assembled a world-class mine development team to design, permit, construct and operate a modern, long-life mine at Pebble. A dedicated team of approximately 20 engineers and technical specialists (many seconded from Anglo American), as well as 58 engineering firms and other consultancies, is currently preparing a Prefeasibility Study for the project.
"While the high-grade copper-gold-molybdenum mineralization within the Pebble East zone remains open to expansion, the 2008 drill program will delineate sufficient volume and grades to allow us to finalize a Prefeasibility Study next year," Thiessen confirmed. "Similarly, the excellent progress being made by our engineering design team, our environmental study team and stakeholder outreach personnel means Pebble is on schedule to finalize a proposed development plan in 2009 and, following input from project stakeholders, apply for permits in early 2010."
Thiessen said the Pebble Partnership and Northern Dynasty expect to publish a revised mineral resource estimate for the Pebble deposit based on 2008 drilling results later this year. A significant proportion of the known mineralization at Pebble East is expected to move from an inferred to an indicated category.
While drilling continues at Pebble, other 2008 site activities are largely complete. Some 26 environmental and socioeconomic study teams visited the project site this year as part of the fifth consecutive year of comprehensive environmental baseline studies.
Northern Dynasty and subsequently the Pebble Partnership have invested more than $100 million in environmental and socioeconomic studies over the past five years, including $25 million planned for 2008. The Partnership is currently assembling an Environmental Baseline Document for Pebble, which will be submitted as part of the project's permit applications.
"The Pebble Partnership has undertaken the most expansive and comprehensive pre-permitting environmental study program in the history of mine development in Alaska, if not North America," said Northern Dynasty Chairman Robert Dickinson. "These investments will hold the project in very good stead as it prepares to enter the federal and state permitting process."
Other statistics from a busy 2008 study program at Pebble include:

- a total of 10 helicopters have flown more than 9,000 hours, moving
crew and equipment from the operations base in Iliamna to various
project locations;
- approximately 800 individuals have worked about 40,000 person-days,
with the total number of people at site peaking at 232 in August;
- approximately 3,420 fixed wing aircraft flights have brought people
and supplies into and out of Iliamna in 2008, including more than
50 groups visiting to tour the Pebble Project;
- site expenditures to the end of September total approximately
$50 million, excluding environmental study costs; and
- some 90% of 2008 site expenditures (or approximately $45 million)
have accrued to Alaskan firms.



"Whether you're looking at investment, jobs, supply and service contracts or revenues to government, we believe Pebble has the potential to be the next great development project in Alaska - on the scale of a Prudhoe Bay or Alyeska Pipeline," Dickinson said. "But Pebble is also making a significant contribution to the regional and state economy today, in part because of the Partnership's efforts to diligently apply local hiring and local contracting policies."
The Pebble Limited Partnership was established in July 2007 as a 50:50 partnership between a wholly-owned affiliate of Northern Dynasty and a wholly-owned subsidiary of Anglo American plc. Under the terms of the agreement, Anglo American will fund $1.425 billion of project costs to acquire its 50% interest - including budgeted expenditures of US$140 million in 2008 and US$40 million in 2007.
Study activities and program expenditures at Pebble in 2009 will be finalized in December, and are expected to be similar to those in 2008. Northern Dynasty continues to hold US$36 million in cash and has no immediate funding commitments for the Pebble Project.
Mark Rebagliati, P.Eng., has reviewed the information on the site program and Stephen Hodgson, P.Eng., has reviewed the information on the engineering programs. Both are qualified persons who monitor Northern Dynasty's programs.

Ronald Thiessen
President and CEO

No regulatory authority accepts responsibility for the adequacy or
accuracy of this release.

Northern Dynasty is solely and entirely responsible for the contents of
this news release. No other party, including any parties which have an
interest in the project, are in any way responsible for the contents
hereof.

Comments on Forward-Looking Information, Estimates 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, especially those that address estimated resource quantities, grades and contained metals, are forward-looking statements because they are generally made on the basis of estimation and extrapolation from a limited number of drill holes and metallurgical studies. Although diamond drill hole core provides valuable information about the size, shape and geology of an exploration project, there will always remain a significant degree of uncertainty in connection with these valuation factors until a deposit has been extensively drilled on closely spaced centers, which has occurred only in specific areas on the Pebble Project. 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 or of the Company's future performance. 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 obtaining necessary mining and construction permits, completion of prefeasibility and final feasibility studies, preparation of all necessary engineering for underground workings and processing facilities as well as receipt of significant additional financing to fund these objectives as well as funding mine construction. Such funding may not be available to the Company on acceptable terms or on any terms at all. There is no known ore at the Pebble Project and there is no assurance that the mineralization at the Pebble Project will ever be classified as ore. The need for compliance with extensive environmental and socio-economic rules and practices and the requirement for the Company to obtain government permitting can cause a delay or even abandonment of a mineral project. The Company is also subject to the specific risks inherent in the mining business as well as general economic and business conditions. For more information on the Company, Investors should review the Company's annual Form 40-F filing with the United States Securities and Exchange Commission and its home jurisdiction filings that are available at www.sedar.com.
SOURCE Northern Dynasty Minerals Ltd.