FOR IMMEDIATE RELEASE TSX-V: HUD April 14, 2011 OTC: HUDRF NR2011-07
HUDSON PRESENTS SARFARTOQ REE PROJECT TO EUROPEAN PARLIAMENT
Vancouver, BC – HUDSON RESOURCES INC. (the “Company”) – (TSX Venture Exchange “HUD”; OTCQX “HUDRF”) is pleased to announce that yesterday the Company made a presentation to the European Union Parliament in Brussels on the Sarfartoq rare earth project in Greenland. Hudson also met with the Greenlandic EU Representative, Lida Lennert Skifte and the Greenlandic Minister for Infrastructure, Transport and Housing, Jens B. Frederiksen. Following the EU meeting a session was also held with the Confederation of Danish Industry to discuss the demand for rare earths and how Hudson could help meet Danish rare earth needs. Denmark is home to Vestas, the world’s largest manufacturer of wind turbines.
The EU Parliament meeting entitled “Why is the Arctic critical for European Industry?” was held by the EU Parliament Intergroup on “Climate Change, Biodiversity and Sustainable Development” in Brussels and was hosted by Mrs. Riikka Manner, Member of the European Parliament. One of the purposes of the meeting was to discuss the shortage of rare earths and the impact on European industry.
The European Commission is seeking to develop domestic supply capacity for strategic metals including rare earths. European Trade Commissioner Karel De Gucht recently stated that Greenland would be an important source of rare earths for the EU and that the deposits needed to be supported. The European Commission issued a report June 17, 2010 defining 14 metals and minerals critical to the security of the EU which highlights neodymium.
James Tuer, Hudson’s President, stated, “We are very pleased to have been invited to present to the largest and most influential Intergroup within the European Parliament. As the only exploration company invited to the meetings it was an excellent opportunity to introduce Hudson’s rare earth project to the EU parliament and to discuss how Hudson may be able to help the EU meet its future rare earth needs”.
Hudson has an initial NI 43-101 resource estimate for the Company’s ST1 Zone, which defined 14.1M tonnes averaging 1.51% total rare earth oxides (TREO) using a cutoff of 0.8%. The ST1 Zone represents one of the industry’s highest ratios of neodymium and praseodymium to TREO, totaling 25%. Currently, the ST1 inferred resource contains over 40 million kilograms of neodymium oxide, which is the key component in permanent magnets and the fastest growth sector of the rare earths industry. Neodymium oxide is currently quoted at over US$200/kg, FOB China, and at over US$90/kg, within China, according to www.metal-pages.com. The ST1 Zone is open for expansion and there are several other target areas that have demonstrated the potential to host high grade REE deposits on the Sarfartoq carbonatite.
The Sarfartoq REE project is located within 20 km of tidewater and only 60 km from Greenland’s international airport. The project is owned 100% by Hudson. The company is well financed with approximately $18.5 million in working capital.
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]
Suite 1460 – 1066 West Hastings Street Vancouver, B.C. V6E 3X1
Tel: (604) 628-5002 Fax: (604) 688-3452
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this news release, including, without limitation, statements regarding plans for the completion of a financing and the intended terms and use of proceeds thereof, and other future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include market prices, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
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