Mr. Jim Cambon reports

HUDSON RESOURCES ANNOUNCES RESULTS FROM INITIAL SAMPLING AT THE GRONNE BJERG ANORTHOSITE PROJECT AND COMMENCEMENT OF GREEN ALUMINA TESTWORK

Hudson Resources Inc. has provided initial sampling results on the company's 100-per-cent-held Gronne Bjerg (Green Mountain) anorthosite project in Greenland. The Company has also commenced testwork to produce a green alumina for the aluminum industry. Hudson is continuing to support Neo North Star Resources Inc. in its development of the Sarfartoq REE project where the Company has an interest (see NR2023-01).

The Gronne Bjerg project, which was staked by Hudson in 2021 (see Hudson MD&A November 29, 2021), is approximately 80 km from Nuuk, the capital of Greenland, and favourably located on open tidewater. Hudson first sampled the Gronne Bjerg project in 2012 as part of a regional sampling program to identify the highest quality anorthosite targets in Greenland. This initial high-level sampling provided the best results of all anorthosites sampled, however the area was not available for staking at the time.

In the fall of 2022, Hudson conducted a reconnaissance program at Gronne Bjerg which included the collection of 29 samples from outcrop over an area of 3.9 square kilometers. The samples were sent to ALS Laboratories in Canada for analysis and the results demonstrated a high aluminum content, low impurities, and excellent continuity over the area sampled. The average analysis for key elements for all the samples are as follows:

• Al2O3 (aluminum oxide): 32.06%
• SiO2 (silicon dioxide): 47.24%
• CaO (calcium oxide): 14.98%
• Na2O (sodium oxide): 2.27%
• Fe2O3 (iron oxide): 1.15%

Based on the high chemical quality of anorthosite sampled, Hudson has initiated a testwork program at SGS Lakefield in Canada to produce a green waste-free smelter grade alumina utilizing the flowsheet developed by the Company from 2013 through 2015 (see NR2013-07, NR2014-01, NR2014-05). This significant testwork culminated in a robust Preliminary Economic Assessment (PEA) for specialty alumina production (see NR2015-01). The PEA demonstrated that a quality alumina product can be made while producing zero tailings and only useful by-products, compared to bauxite which produces almost four tonnes of caustic tailings per tonne of aluminum.

The SGS testwork program will take approximately four months to complete with the objective of producing green alumina suitable as a feed material for aluminum producers.

Jim Cambon, President, commented "The initial assay results from our 100% owned Gronne Bjerg anorthosite project are exceptional and our strong treasury will allow us to advance a testwork program to produce 'green' smelter grade alumina in the coming months. Over the past decade we have gained significant expertise in the evaluation, mining and product development of anorthosite. With this knowledge and over 15 year's experience operating in Greenland we plan to rapidly advance the Gronne Bjerg project. Hudson is focussed on anorthosite as the future for green aluminum production. We also plan to commence a testwork program in 2023 to build on previous successful R&D to produce a CO2-free white cement product. The 2023 field program at Gronne Bjerg will include further definition of the anorthosite body and bulk sampling to provide material for ongoing R&D work."

The Company is in discussions with industrial and technology groups to potentially partner on green alumina and green cement projects. This aligns perfectly with Hudson's core values in the creation of green products that we believe will attract ESG investors.

Green Aluminum

Hudson strongly believes that anorthosite is the future for green aluminium production which will increasingly be demanded by consumers. Global aluminum demand is expected to increase by almost 40 per cent by 2030 (CRU Report, May 2022). A recent World Bank report described aluminum as crucial for the energy transition as the metal is critical to solar power panels and electric vehicles. The amount of aluminum used in European cars increased by 18% from 174kg in 2019 to 205kg in 2022 according to automotive consultancy Ducker Carlisle (Mining.com May 2023). The report predicts this trend will continue to increase to 256kg per vehicle by 2030. China currently accounts for 58% of global output of aluminum. Europe has traditionally relied on Russia for aluminum supply.

CO2 Free Cement

In 2016/2017 Hudson completed successful testwork to produce a CO2 free, heat resistant (refractory) and acid resistant white cement (see NR2018-01). The work was carried out at the University of British Columbia Ceramics and Refractories Research and Testing Laboratory. Hudson plans to commence additional testwork on cement application in 2023 and is in discussions with a number of research facilities capable of executing a testwork program.

Neo North Star Resources Inc.

As recently announced (see NR2023-01), Hudson has a potential 5% carried interest in the Sarfartoq REE project in Greenland partnered with Neo North Star Resources Inc. (NNSR), controlled by Neo Performance Materials. NNSR has commenced a significant field program at Sarfartoq REE project for 2023.

White Mountain Anorthosite Mine

Hudson has a 31% interest in the White Mountain anorthosite mine in Greenland owned by Lumina Sustainable Materials. J.R. Goode, P. Eng., is a Qualified Person, as defined by National Instrument 43-101, and reviewed the preparation of the metallurgical and technical information in this press release. Michael Druecker, P. Eng., is a Qualified Person, as defined by National Instrument 43-101, and reviewed the preparation of the geological and technical information in this press release.

We seek Safe Harbor.