Hudson Advance Sarfartoq Rare Earths Project in Greenland

Hudson Resources Inc. (“Hudson” or the “Company”) recently announced that it would focus on its 100 percent-owned Sarfartoq rare earths project under new mining legislation passed by the Greenland government on November 8.

The new legislation, which was passed by a narrow majority, bans the development of mineral projects containing more than 100 parts per million (ppm). The ban does not apply to prospecting, exploration and exploitation directed at non-uranium resources if the average uranium content is less than 100 ppm.

This is good news for Hudson's ST1 Sarfartoq rare earth project, which contains low levels of uranium (10ppm) and high levels of REE of radon oxide (Nd₂O₃) and plyconium oxide (Pr₆O₁₁), key elements needed for permanent magnets used in wind turbines and motors in electric and hybrid vehicles.

Highlights of Hudson's Sarfartoq ST1 REE project include 27 million kg of radon oxide and 8 million kg of radon oxide, and 31,000 meters of drilling to date, with a number of high-grade sections, including 14 meters 4.8% TREO (Diamond Drilling SAR11-45) and 6.05% TREO (Diamond Drilling SAR12-03);

Jim Cambon, President of Hudson, commented: "We are very pleased with the future of the Sarfartoq rare earth project and its promise to be part of the key metals supply chain in Europe and the Americas. We believe that given the current pricing of rare earths based on basic supply and demand, we have a good opportunity to build and improve on the 2011 PEA basis to develop a very robust project and our company will continue to provide up-to-date information.”

The global niobium market, led by automobiles (electric vehicles), wind energy and electronics, is expected to grow at a compound annual growth rate (CAGR) of 5.4% to US$3.39 billion (Research and Markets, November 2021).

Hudson Resources is a Canadian based mining and exploration company focused on the operation and development of strategic and critical green mineral projects in Greenland. Hudson's Nukittooq tantalum project has some of the highest-reported tantalum measurements in the industry, with uranium content of more than 100 ppm, so the company is reviewing the options for the project under new legislation.

The company's high-grade Nukittooq Tantalum Project and Sarfartoq Rare Earths Project are located on the company's 100% Sarfartoq exploration licence in southwestern Greenland. Hudson also owns 31.1 per cent of the White Mountain anorthosite mine and has the right to acquire 100 per cent, and the White Mountain mine is not affected by the new uranium legislation.

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