VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 2, 2016) - HUDSON RESOURCES INC. (the "Company") - (TSX VENTURE:HUD)(OTCQX:HUDRF) is pleased to announce that it has successfully completed construction activities for this year at its White Mountain anorthosite project in Greenland and is preparing to recommence construction early next year followed by project commissioning in the second half of 2017.
Construction activities at the project this year included:
- Completion of a large portion of the civil works including blasting for the port, warehouse storage area, process plant pads and fuel farm
- Completion of the crushed rock pad for the truck shop
- Continued extension of the road from the port to the pit
- Expansion of the accommodation complex to accommodate up to 45 people for the 2017 construction program
The project once again had an excellent safety record with zero lost time accidents. Photos of this years activities are available at www.hudsonresources.ca.
James Tuer, Hudson's President stated: "We are very pleased with the accomplishments of our 2016 construction program. We have now completed a major portion of the civil works, which puts us in an excellent position to hit the ground running in 2017. We have started placing orders for major pieces of long lead time equipment to meet our goal of shipping product to customers in the second half of 2017."
Due diligence is progressing well with regard to project financing with the European Investment Bank and other groups. The Company expects to provide an update on these activities shortly. The Company is also in negotiations with several new potential end users and additional companies have requested samples for testing for both E-Glass and paint and coatings applications.
Hudson owns 100% of the White Mountain project. The Company was granted a 50 year mining license in 2016 and the deposit has resources defined for over 100 years of production.
Don Hains, P. Geo., is a qualified person as defined by National Instrument 43-101 and has reviewed the technical information in this press release.
ON BEHALF OF THE BOARD OF DIRECTORS
James Tuer, President
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 the use of proceeds from the private placement, 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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