Northern Dynasty arranges $22 million financing

Northern Dynasty arranges $22 million financing 


VANCOUVER, Feb. 11  /PRNewswire-FirstCall/ -- Ronald W. Thiessen, President and
CEO of Northern Dynasty Minerals Ltd. (TSX Venture: NDM; OTCBB: NDMLF) is
pleased to announce that Northern Dynasty has arranged a private placement
financing of 2.75 million units at Cdn$8.00 per unit with each unit consisting
of a share and one half warrant. Each whole warrant is exercisable for one year
from closing of the financing to acquire one further common share at Cdn$9.00.
Galahad Gold PLC, a publicly traded United Kingdom based corporation that is
currently an insider of Northern Dynasty, will purchase approximately one half
of the placement.

The offering is subject to execution of definitive agreements and TSX Venture
Exchange acceptance, which is expected in the ordinary course. The common shares
in the units and the shares issuable on exercise of the warrants will be subject
to a four month resale restricted period.

Proceeds of the financing will be used to rapidly advance the Company's Pebble
project, located in southwestern Alaska, USA, towards completion of a final
feasibility study for a large-scale, open pit, gold-copper-molybdenum mine. A
recent independent resource estimate by John Nillson, P.Eng., of Norwest
Corporation, established the Pebble deposit as the largest gold and at the same
time, the second largest copper deposit in North America. At a 0.30% copper
equivalent cut-off, the inferred mineral resource is estimated to be 2.7 billion
tonnes grading 0.27% copper, 0.30 g/t gold and 0.015% molybdenum containing 16.5
billion pounds of copper and 26.5 million ounces of gold (see News Release
January 21, 2004). Northern Dynasty is planning a major in-fill drilling program
for 2004, concurrently with detailed engineering and environmental/permitting
studies.

For further details on Northern Dynasty Minerals Ltd. and its Pebble Project
please visit Northern Dynasty's website at http://www.northerndynasty.com/ or
contact Investor Servicesat 604-684-6365 or within North America at 1-800-667-
2114.

  ON BEHALF OF THE BOARD OF DIRECTORS

  "Ronald W. Thiessen"
  Ronald W. Thiessen
  President and CEO



No regulatory authority has approved or disapproved the information contained in
thisnews release.

These materials are not an offer of securities for sale in the United States.
The securities offered have not been, and will not be, registered under the
Securities Act of 1933 and may not be offered or sold in the United States
absent such registration or an exemption from registration.

This release includes certain statements that may be deemed "forward- looking
statements". All statements in this release, other than statements of historical
facts, that address future production, reserve potential, exploration drilling,
exploitation activities and events or developments that the Company expects are
forward-looking statements. Although the Company believes the expectations
expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual
results or developments may differ materially from those in the forward-looking
statements. Factors that could cause actual results to differ materially from
those in forward-looking statements include market prices, exploitation and
exploration successes, continued availability of capital and financing, and
general economic, market or business conditions. Investors are cautioned that
any such statements are notguarantees of future performance and that actual
results or developments may differ materially from those projected in the
forward-looking statements. For more information on the Company, Investors
should review the Company's home jurisdiction filings that are available at
http://www.sedar.com/. 

DATASOURCE: Northern Dynasty Minerals Ltd.



CONTACT: Northern Dynasty Minerals Ltd., 1020 - 800 W Pender St.,

Vancouver, BC, Canada, V6C 2V6, Tel  [phone], Fax [phone], Toll Free

1-800-667-2114, http://www.northerndynasty.com/

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