Mr. James Tuer reports

HUDSON CLOSES EQUITY FINANCING FOR TOTAL PROCEEDS OF $4,023,500

Hudson Resources Inc. has closed its previously announced offering for 8,047,000 units of the company, at a price of 50 cents per unit, for total proceeds of $4,023,500. Each unit comprises one fully paid and non-assessable common share in the capital of the company, and one-half of a transferable common share purchase warrant. Each whole warrant entitles the holder thereof to purchase one additional share in the capital of the company until Sept. 1, 2018, at an exercise price of 75 cents per warrant share. Hudson reserves the right to issue an overallotment of up to four million units for additional proceeds of $2-million subsequent to this closing. The company paid $234,510 in finders' fees in connection with this private placement.

Both the common shares issued as part of the units and any common shares issued upon exercise of the warrants are subject to a hold period, which expires on Jan. 2, 2016, and such common shares may not be traded until Jan. 2, 2016, except as permitted by the Securities Act (British Columbia) and the rules made thereunder, and the TSX Venture Exchange.

The net proceeds of the private placement will be used for preconstruction activities regarding the company's White Mountain anorthosite project and for general corporate purposes.

After the completion of this offering, Hudson's issued and outstanding securities comprise 89,533,766 common shares, 5.6 million options and 4,023,500 warrants.

Alnesh Mohan, the chief financial officer of the company, purchased 40,000 units, and John McDonald, a director of the company, purchased 50,000 units for aggregate proceeds of $45,000. As a result, their participation is considered a related party transaction under Policy 5.9 of the TSX Venture Exchange, which adopts Multilateral Instrument 61-101. The directors of the company have determined that their participation in the private placement is exempt from the formal valuation and minority shareholder approval requirements under MI 61-101 in reliance on the exemptions set forth in sections 5.5(a) and (b) and 5.7(a) of MI 61-101, and, in connection therewith, have determined that neither the fair market value of the securities to be distributed in the private placement nor the consideration to be received, insofar as it relates to the them, exceeds 25 per cent of the company's market capitalization. The company did not file a material change report related to this financing more than 21 days before the expected closing of the private placement as required by MI 61-101 since the details of the participation by the related parties of the company were not settled until shortly prior to the closing of the private placement and the company wished to close on an expedited basis for sound business reasons.

We seek Safe Harbor.