FOR IMMEDIATE RELEASE Trading Symbol: HUD
September 13, 2010
HUDSON CONFIRMS GREENLAND GOVERNMENTS AMENDMENT TO LIFT CERTAIN RESTRICTIONS ON RADIOACTIVE ELEMENTS
Vancouver, BC – HUDSON RESOURCES INC. (“Hudson” – TSX Venture Exchange “HUD”) is pleased to confirm that the Government of Greenland has announced an amendment to the Standard Terms for Exploration Licences that will permit, subject to their approval, the exploitation of minerals that co-exist with radioactive elements above normal background concentrations. There has been no change to the moratorium on uranium exploration and the government will retain all rights to radioactive elements.
Hudson’s rare earth project at Sarfartoq in Greenland has minor amounts of thorium and normal background amounts of uranium. As a result of this amendment, Hudson believes that it is in a strong position to receive an exploitation permit for the rare earths if the project proves to be economically feasible and can support positive Social Impact Assessments (“SIA”) and Environmental Impact Assessments (“EIA”).
In a statement, available in English on the Greenland Government’s website, www.nanoq.gl, the government clarifies that the amendment “means that companies which have found and demarcated mineral resources containing radioactive elements can apply for a licence to prepare assessments of the environmental impact and social sustainability.”
“In making this addition to the Standard Terms, Naalakkersuisut (the Government of Greenland) hopes to bring about more knowledge about the health and safety issues regarding radioactive elements in occurrences where the actual goal is other metals than the radioactive ones. This addition is in line with Naalakkersuisut’s ambition to secure more knowledge about the consequences of exploration and exploitation of radioactive elements.”
“The addition to the rules explicitly states that a licence to complete such environmental impact assessments etc. does not give right to a licence to explore for or exploit radioactive elements.”
The Sarfartoq rare earth project is located within 10 km of tidewater and only 60 km from Greenland’s international airport. The Company is currently conducting the second phase of the 2010 drill program. It is expected to be completed within a week and results are expected by the end of October. Metallurgical test work will be conducted this fall. As well, a resource model is expected to be completed by the end of the year. The project is owned 100% by Hudson.
ON BEHALF OF THE BOARD OF DIRECTORS
James Tuer, President
For further information:
James Tuer, President
Ph: 604-628-5002 or 604-688-3415 | [email protected]
This news release contains “forward-looking information”, which may include, but is not limited to, statements with respect to the future financial or operating performance of Hudson and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Hudson to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and Hudson disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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