Northern Dynasty Receives Settlement of Loan & Terminates Option

       Northern Dynasty Receives Settlement of Loan & Terminates Option

PR Newswire

VANCOUVER, Nov. 15, 2012

VANCOUVER, Nov. 15, 2012 /PRNewswire/ - Northern Dynasty Minerals Ltd.
("Northern Dynasty" or the "Company") (TSX: NDM; NYSE MKT: NAK) announces that
Northern Dynasty and Liberty Star Uranium & Metals Corp. ("Liberty Star") have
reached agreement to settle the loan owing by Liberty Star to Northern Dynasty
in the principal amount of $3,730,174 plus interest, in consideration for the
transfer by Liberty Star to a U.S. subsidiary of Northern Dynasty of 199
Alaska mineral claims, totalling 30,640 acres, that are located north of the
Pebble Project.

As  part  of  the  loan   settlement  agreement,  all  other  agreements   and 
negotiations between the parties have been terminated, including  negotiations 
relating to an option  for Northern Dynasty to  acquire 60% of Liberty  Star's 
Big Chunk mineral claims located in Alaska.

Ronald W. Thiessen
President & CEO

                             Sole Responsibility

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.

           Forward Looking Information 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 pre-feasibility  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.

Contact:

For further details on Northern Dynasty please visit the Company's website
atwww.northerndynasty.com or contact Investor services at (604) 684-6365 or
within North America at 1-800-667-2114. Review Canadian public filings
atwww.sedar.com and US public filings atwww.sec.gov.
 
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