Northern Dynasty still slugging in out in Alaska court

• Northern Dynasty Minerals Ltd. (NDM) announced that all parties in the Federal District Court litigation regarding the EPA veto have filed their briefs.
• The court has scheduled oral arguments for June 25, 2026.
• This follows a February 17, 2026 filing by the Department of Justice (DOJ) opposing the removal of the Obama-Biden era veto.
• The litigation seeks to vacate the EPA's Section 404(c) veto on the Pebble Project in Southwest Alaska.
• Management maintains confidence that the court will find the veto "arbitrary and capricious" and contrary to the Final Environmental Impact Statement (FEIS).

• The scheduling of oral arguments is a procedural milestone rather than a substantive outcome, classifying this as Routine news.
• Progression from brief filing to oral argument indicates the court is moving forward with the case timeline, avoiding indefinite delays following the government shutdown mentioned in November 2025.
• However, the DOJ's February 2026 brief opposing the veto removal remains a significant negative factor that has not been neutralized by this scheduling update.
• The news confirms the legal process is active but does not alter the fundamental risk profile regarding the EPA veto until a ruling is issued.
• Liquidity remains stable following the completion of the $60 million royalty investment program in October 2025, reducing immediate dilution risk.

• Company: Northern Dynasty Minerals Ltd. is a Canadian mining company focused on the Pebble Project in Alaska.
• Flagship Asset: The Pebble Deposit consists of 1,840 contiguous mineral claims in southwest Alaska containing significant copper, gold, molybdenum, rhenium, and silver resources.
• Project Status: Undeveloped; currently blocked by an EPA veto which the company is legally challenging.
• Ownership: Company retains 100% ownership of copper, molybdenum, and rhenium production rights under its royalty agreement structure.