Hudson Resources Inc.

Hudson Resources Inc.

March 09, 2010 09:11 ET

Hudson Clarifies Resource Disclosure

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 9, 2010) - HUDSON RESOURCES INC. ("Hudson") (TSX VENTURE:HUD), as a result of a review by the British Columbia Securities Commission, is issuing the following news release to clarify its disclosure.

On May 26, 2009, Hudson issued a news release that outlined its 2009 Rare Earth exploration program at the Sarfartoq Carbonatite Complex in Greenland. The release reviewed the upcoming program and included historical information that had been recently received by the Company. The significance of this historical information is to report that prior exploration had focused on high-grade niobium occurrences located near the core of the carbonatite. A number of high-grade rare earth occurrences, which are not associated with the high-grade niobium rich pyrochlore, were also reported. These rare earth occurrences had never been followed up on and in 2009, Hudson completed reconnaissance and preliminary drilling that supports significant rare earth occurrences located near the outer margins of the carbonatite. A drill program scheduled for this year is planned to determine if there is sufficient material to classify an initial inferred resource at any of these occurrences.

The news release contained information about 2002 and earlier economic analyses with respect to the niobium occurrence completed for a previous operator and not Hudson Resources. Presentation materials on the Company's website also disclosed a small "JORC compliant niobium resource" estimated by the previous operator. A material resource estimate requires announcement by news release and National Instrument 43-101 disclosure regulations require the company to support disclosure of a mineral resource or reserve by filing a technical report. Hudson clarifies that it does not have a material resource estimate or economic analysis at the niobium occurrence or elsewhere on the property, and the estimates and analysis done by the previous operator are not complaint with NI 43-101 and should not be relied on. All references to a prior operators niobium resource estimates and analyses have been removed from the Company's website and presentation material. It is not Hudson's intention to pursue the niobium deposit at this time. Hudson's exploration focus in 2010 is primarily dedicated to pursuing the rare earth potential of the Sarfartoq Carbonatite. Hudson will continue to evaluate the diamond potential of the area, as well.

In late November 2009, Hudson posted a memo on its website commenting on the recent Roskill Rare Earth Conference in Honk Kong. Apart from general comments concerning the status of the rare earth market, based on conference notes, Hudson commented specifically, on the high amount of neodymium reported in its assay results at ST40 in relation to other deposits. Given that ST40 does not currently have a resource estimate, a direct comparison of quantity or grade may be potentially misleading and the memo has been amended accordingly and re-posted on the company's website.

For reference, on November 4, 2009, Hudson issued its drill results from the September 2009 drill program. It also posted the complete assay results on its website. The best hole at ST40 (SAR09-03) included a 10.22m intercept of 1.36% total rare earth oxides where neodymium and praseodymium oxide, together, accounted for 54.3% of the total rare earth oxide content. Please refer to NR2009-13 dated Nov. 4, 2009 for complete drill results.

Dr. Danielle Giovenazzo, who was on site and managed the drilling program and QA/QC programs, reviewed this press release and is a qualified person under National Instrument 43-101. Dr. Peter Le Couteur, who has acted as a consultant geologist to Hudson, also reviewed this news release with respect to the comments concerning the Roskill Conference in Hong Kong and is a qualified person as defined by National Instrument 43-101.


James Tuer, President

This news release contains forward-looking statements regarding ongoing and upcoming exploration work and expected geology, geological formations and structures. Actual results may differ materially from those anticipated in these statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information