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Pebble Partnership (Northern Dynasty-Anglo American) – Pebble, SW Alaska, July 2013

In mid-July 2013 Neil Adshead toured the Pebble copper-gold-molybdenum property in SW Alaska at the invitation of Northern Dynasty. Pebble is one of the world’s largest undeveloped copper, gold and molybdenum resources. The current Measured and Indicated resource estimate, using a 0.3% copper equivalent cut-off, reports 5.9 billion tonnes of rock with 0.42% copper, 0.35 g/t gold and 250 ppm molybdenum. This equates to 55 billion pounds of copper, 66.9 million ounces of gold and 3.28 billion pounds of molybdenum. In addition there is a lower confidence Inferred resource with 25.6 billion pounds of copper, 40.4 million ounces of gold and 2.29 billion pounds of molybdenum. The porphyry-hosted mineralization at Pebble crops-out at surface and will initially be an open pit mine based on the design that is scheduled for submission to the permitting agencies before the end of 2013. The mine, as proposed, will have a 20-25 year life but the very large resource, which extends eastwards and to depth, could push the mine life out towards the end of this century. The tour group also visited the nearby town of Newhalen, where the Newhalen River enters into Iliamna Lake. The Newhalen River and Iliamna Lake are part of the salmon-bearing catchment that drains into Bristol Bay. There was also ample opportunity to meet stuffed specimens of the local fauna.




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