Hudson Provides Update on Greenland Elections of April 6th, 2021
VANCOUVER, British Columbia, April 15, 2021 (GLOBE NEWSWIRE) -- HUDSON RESOURCES INC. (“Hudson” or the “Company”) (TSX Venture Exchange “HUD”, OTC “HUDRF”).
On April 6th, 2021, Greenland held elections in which the Inuit Ataqatigiit party (IA) won 12 of the 31 seats with 37% of the votes. The IA party is currently in negotiations with other parties to form a coalition government. The party is led by Múte Egede who was a former Minister of Mining in Greenland between 2016 and 2018 during which time he visited the White Mountain anorthosite project.
Since winning the election, the IA party has publicly stated that they are pro-mining and cited Hudson as a good example of the importance of mining in Greenland. The IA party has a strong environmental platform which Hudson is supportive of.
The IA party has stated that it is opposed to the export of uranium for nuclear purposes. Under Greenland mineral legislation all exploration licenses, including those granted to Hudson, do not provide the right to export and sell radioactive elements. Although Hudson’s rare earth element and niobium-tantalum projects do contain minor amounts of thorium or uranium, Hudson will not export and sell these elements and they will be dealt with in an environmentally responsible manner. The nearest community to Hudson’s projects is approximately 80 km away.
Jim Cambon, President commented: “I have congratulated Múte Egede on his victory and have also reached out to numerous government officials and community leaders in Greenland. Based on these discussions we are confident that it is business as usual for Hudson’s projects. Hudson has always done what we promised in Greenland and treated people fairly while respecting all stakeholders and the environment, and as such, we believe we have earned the respect of local communities and the government. We look forward to working with the new government in the continued operation of the White Mountain anorthosite mine and in the advancement of our rare earth elements project and our niobium-tantalum project.”
Hudson owns 100% of the Sarfartoq REE project and Nukittooq niobium-tantalum project in Greenland and also holds a 31.1% interest in Hudson Greenland A/S which owns the White Mountain Anorthosite mine in Greenland, where the Company provides operational, marketing and sales support.
ON BEHALF OF THE BOARD OF DIRECTORS
“Jim Cambon”
President and Director
For further information:
Ph: 604-628-5002
Forward-Looking Statements
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, , an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Neither the 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.
