Hudson River Minerals Ltd. (“Hudson River”) (TSX-V:HRM) is pleased to announce the completion of its drill program at the Zarn Lake gold property (“Zarn Lake”) located in northwest Ontario, approximately 20 km east of Sioux Lookout. Sixteen (16) holes were completed for a total of 1,260 m.
Summarizing the Zarn Lake drill program, President and CEO Steve Balch commented “overall the drilling went very well. We intersected the main quartz veins in a number of drillholes and have sampled the wall rock on either side of these intersections. All mineralized intervals have been sent to ALS Minerals in Thunder Bay for assaying and we are expecting the results in 4-5 weeks”.
Hudson River can earn a 100% interest in the property over a four year period through a combination of cash payments ($165,000), exploration expenditures ($1.0 million), share issuances (500,000 Hudson River common shares) and a 2.0% NSR.
This document may contain forward-looking statements relating to Hudson River’s operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond Hudson River’s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filings. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not be placed on such forward-looking statements. Hudson River disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.