800 West Pender Street, Suite 1020
Vancouver, British Columbia
Canada V6C 2V6
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under cover Form 20-F or Form 40-F.
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Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
By: /s/ Jeffrey R. Mason
Director and Chief Financial Officer
Date: March 18, 2005
Print the name and title of the signing officer under his signature.
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NORTHERN DYNASTY MINERALS LTD.
1020 - 800 W Pender Street
Vancouver BC
V6C 2V6 Canada
Tel 604 684 - 6365
Fax 604 684 - 8092
Toll Free 1 800 667 - 2114
www.northerndynasty.com
NORTHERN DYNASTY COMPLETES $30.8 MILLION FINANCING
March
18, 2005, Vancouver, BC -
Ronald W. Thiessen, President and CEO of Northern Dynasty Minerals Ltd. (TSXV:NDM;
AMEX:NAK) is pleased to announce that Northern Dynasty has completed the financing
announced on January 20, 2005, comprising 7,247,000 units for gross proceeds
of $30.8 million. Each unit consists of one common share and a share purchase
warrant exercisable to purchase an additional common share of the Company
at a price of $5.00 for an 18 month period. 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 from the placement will be used for the 2005 program at the Pebble
gold-copper-molybdenum project, located in southwestern Alaska. USA. The planned
program encompasses delineation drilling of the new East Zone discovery on
the eastern flank of the Pebble deposit as well as comprehensive engineering
and environmental/socioeconomic work designed to complete a feasibility study
and prepare environmental permit applications for a large scale open pit mining
operation.
For further details on Northern Dynasty Minerals Ltd., please visit the Northern
Dynasty website at www.northerndynasty.com or contact Investor Services at
(604) 684-6365 or within North America at
1-800-667-2114.
ON BEHALF OF THE BOARD OF DIRECTORS
/s/ Ronald W. Thiessen
Ronald W. Thiessen
President & CEO
Neither the TSX Venture Exchange nor any other regulatory authority accepts
responsibility for the adequacy or accuracy of this release.
Forward Oriented Information
This
release includes certain statements that may be deemed "forward-looking
statements". All statements in this release, other than statements of
historical facts, including those that announce proposed financings that the
Company expects to complete, are forward-looking statements. Although Northern
Dynasty 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
the failure of investors who are believed to have committed to the financings
to fail to complete them as a result of general market conditions, adverse
developments unique to such investors or otherwise. Accordingly, the actual
amounts raised may differ materially from those projected in the forward-looking
statements. For more information on the Northern Dynasty, Investors should
review the Company's annual Form on 20F filing with the United States
Securities Commission and its home jurisdiction filings that are available
at www.sedar.com.