Greenland Government Provides Relief to Mining Companies IN Response to COVID-19
FOR IMMEDIATE RELEASE TSX-V: HUD
April 8, 2020 OTC: HUDRF
NR2020-3
GREENLAND GOVERNMENT PROVIDES RELIEF TO MINING COMPANIES
IN RESPONSE TO COVID-19
Vancouver, BC – HUDSON RESOURCES INC. (“Hudson” or the “Company”) – TSX Venture Exchange
“HUD”; OTC “HUDRF”) owns and operates the White Mountain (Qaqortorsuaq) anorthosite mine
in Greenland through its wholly owned subsidiary, Hudson Greenland A/S. Hudson Resources also
holds the Sarfartoq rare earth element (REE) and niobium exploration license in Greenland.
In response to the Covid-19 pandemic, the Government of Greenland recently announced that it
will be providing emergency relief for mining companies. The first initiative is the waving of
mineral exploration license obligations and expenditures through to December 31, 2020.
(https://govmin.gl/2020/04/02/adjustment-of-exploration-obligations-for-2020-to-zero/). As
such, Hudson will not have any expenditure obligations for its Sarfartoq REE and niobium license
(see NR2020-1). The Government is also considering additional relief including the postponement
of administrative case handling expenses and temporarily, partially or fully reimbursing the funds
held in escrow for clean-up and environmental monitoring. Hudson currently has DKK 10M
(approximately C$2M) held in escrow as a closure bond.
The Company hopes to re-initiate exploration activities at Sarfartoq later in 2020 with a focus on
the high-grade niobium targets, but this will be dependent on the restrictions and implications of
the pandemic.
Jim Cambon, President commented: “We want to thank the Government of Greenland for taking
decisive action in response to the global impact of the Covid -19 pandemic. This support from the
government to the mining industry reinforces our position that Greenland is one of the best
jurisdictions in the world to work in and we remain fully committed to building and growing our
business here.”
Limited activities at White Mountain are ongoing but under strict controls with no travel allowed
in or out of the mine. Hudson is unable to make a definitive plan for the reopening of production
at this time as a result of the global pandemic.
ON BEHALF OF THE BOARD OF DIRECTORS
“Jim Cambon”
President and Director
For further information:
Ph: 604-628-5002
Forward-Looking Statements
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 financing, 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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Exchange) accepts responsibility for the adequacy or accuracy of this release.