February 20, 2007, Vancouver, BC - Ronald W. Thiessen, President and CEO of Northern Dynasty Minerals Ltd. (TSX Venture: NDM; AMEX: NAK) reports that a new mineral resource estimate has increased the inferred mineral resources in the Pebble East copper-gold-molybdenum deposit by nearly 90%, to 3.4 billion tonnes. The Pebble East deposit is contiguous to and deeper than the 4.1 billion tonne near surface Pebble West deposit and is higher grade. Geotechnical assessment has shown that Pebble East is amenable to low cost, bulk underground mining. The combined resources of the Pebble deposits constitute one of the most significant metal accumulations in the world. Northern Dynasty's Pebble Project is located in southwestern Alaska on State land.

At a 0.60% copper equivalent cut-off, the estimated inferred mineral resources in the Pebble East deposit are:

• 3 .4 billion tonnes grading 1.00% copper equivalent, containing 42.6 billion pounds of copper, 39.6 million ounces of gold, and 2.7 billion pounds of molybdenum.

At a 1.00% copper equivalent cut-off, the estimated inferred mineral resources are:

• 1.4 billion tonnes grading 1.29% copper equivalent, containing 24.6 billion pounds of copper, 20.9 million ounces of gold, and 1.2 billion pounds of molybdenum.

A summary of mineral resources for the Pebble East deposit at various cut-off grades is tabulated below (see also Pebble Project Deposit Plan and Section posted on Northern Dynasty's website at www.northerndynasty.com):

TABLE 1 - PEBBLE EAST DEPOSIT
INFERRED MINERAL RESOURCES1,4

Note 1 By prescribed definition, "Mineral Resources" do not have demonstrated economic viability. An Inferred Mineral Resource is that part of a mineral resource for which quantity and grade can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity.

Note 2 Copper equivalent calculations use metal prices of US$1.00/lb for copper, US$400/oz for gold, and US$6.00/lb for molybdenum. Copper equivalent has not been adjusted for metallurgical recoveries. Adjustment factors to account for differences in relative metallurgical recoveries for copper, gold and molybdenum will depend upon the completion of definitive metallurgical testing. CuEQ = Cu % + (Au g/t x 12.86/22.05) + (Mo% x 132.28/22.05).

Note 3 A 0.30% CuEQ cut-off is considered to be comparable to that used for porphyry deposit open pit mining operations in the Americas. For bulk underground mining higher cut-offs, such as 0.60% CuEQ, are typically used. All cut-offs are subject to a feasibility study.

Note 4 The resources estimate for Pebble East was prepared by the technical staff of Northern Dynasty and audited by independent consultants, Scott Wilson Roscoe Postle Associates.

The new Pebble East resource estimate is based upon assay results from 132 core holes drilled in the Pebble East area. The estimate was prepared by the technical staff of Northern Dynasty and audited by industry leading geological and mining consultants at Scott Wilson Roscoe Postle Associates Inc., under the direction of David W. Rennie, P. Eng., an independent Qualified Person as defined by National Instrument 43-101. A technical report detailing the resource estimate will be filed on www.sedar.com within 45 days.

The 2006 drilling program at Pebble East expanded the north-south length of the deposit to over 7000 feet, with grades over this extent consistently exceeding 1% copper equivalent. The deposit remains open for expansion to the north and to the south across a width exceeding 4000 feet. Importantly, significant amounts of high-grade copper minerals (predominantly bornite) were intersected during 2006 in the northern most holes drilled and also in holes near the southern most area drilled. The presence of significant bornite mineralization in these holes indicates their proximity to mineralizing centers which are open to extension and appear to be strengthening to the north and to the south.

Northern Dynasty met its target of early February to re-commence drilling at the Pebble Project site. Four rigs are now active, with plans to ramp up to 8 rigs by April.

The 2007 program will focus on Pebble East and consist of two components: delineation drilling and infill drilling. Delineation drilling will contribute to further expansion of resources and the infill drilling will upgrade the classification of known mineralization. Delineation drilling in the order of 100,000 feet will focus on extending the Pebble East deposit to the north and south and also define its eastern and western limits. Infill drilling, comprising approximately 150,000 feet, is also planned with the focus on upgrading the resource classification of the highest grade 1 billion tonnes of the deposit.

The Pebble East discovery is a substantial addition to the Pebble Project. The mineral resources and the metals contained in the near surface Pebble West deposit, as announced in March 2005 are listed for comparison in Tables 2 and 3 below.

TABLE 2 - PEBBLE WEST DEPOSIT
 MEASURED PLUS INDICATED MINERAL RESOURCES1,4

TABLE 3 - PEBBLE WEST DEPOSIT
INFERRED MINERAL RESOURCES1,4

Note 1 By prescribed definition, "Mineral Resources" do not have demonstrated economic viability. An Inferred Mineral Resource is that part of a mineral resource for which quantity and grade can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity.

Note 2 Copper equivalent calculations use metal prices of US$1.00/lb for copper, US$400/oz for gold, and US$6.00/lb for molybdenum. Copper equivalent has not been adjusted for metallurgical recoveries. Adjustment factors to account for differences in relative metallurgical recoveries for copper, gold, and molybdenum will depend upon the completion of definitive metallurgical testing. CuEQ = Cu % + (Au g/t x 12.86/22.05) + (Mo% x 132.28/22.05).

Note 3 A 0.30% CuEQ cut-off is considered to be comparable to that used for porphyry deposit open pit mining operations in the Americas. For bulk underground mining higher cut-offs, such as 0.60% CuEQ, are typically used. All cut-offs are subject to a feasibility study.

Note 4 The resources estimate for Pebble West was prepared by independent consultants at Roscoe Postle Associates Inc. as described in Northern Dynasty's news release dated March 4, 2005.

Northern Dynasty's goal is to optimize the design of the Pebble Project with regard to the mineral resources in the Pebble West and Pebble East deposits, as well as social, environmental, and economic factors. Northern Dynasty has been engaged in comprehensive engineering, environmental and socioeconomic studies on the Pebble West deposit since 2004. The Company is now focused on thoroughly assessing Pebble East through drilling, engineering and environmental programs in order to integrate this exceptional discovery into a Project Development Plan that is best for a modern, long-life mine.

President Ron Thiessen stated: "In addition to our ongoing very comprehensive, technical, environmental and social programs at Pebble we are assessing the merits and potential participants of a consortium to permit, finance, construct and operate a modern, long-life, mine with very substantial annual metal output. We expect that this process will be achieved successfully because the discovery rate of large copper deposits has declined significantly and the shortage of important, major-company-sized projects is likely to remain a critical issue for the world's large copper miners going forward."

Bob Dickinson, Northern Dynasty's Chairman commented: "Copper production in the United States is falling as major open pit copper mines in the southwest are being exhausted, yet the American public continues to demand the products that utilize this strategic metal. This gap between domestic demand and supply has led to a growing dependency on substantial imports of copper. As the world's developing economies utilize an increasing amount of copper, they are in direct competition for available copper. When combined with growing concerns about global security and the nationalization of resources in many places from which the United States acquires its supply, this presents a compelling case to establish new and secure sources of domestic supply. We believe that Pebble is a very important project because it meets both of these objectives: it is located on American soil and is large enough to meet a significant portion of the USA's requirements for copper, gold and molybdenum."

Northern Dynasty has 94.1 million shares issued on a fully diluted basis with cash on hand of US$73 million. An affiliate of Rio Tinto plc has recently increased its shareholdings in Northern Dynasty's to 19.79%.

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

Ronald W. Thiessen
President and CEO

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