Hathor Exploration Limited

Hathor Exploration Limited

March 23, 2010 08:54 ET

Hathor Exploration Limited: Significant Alteration Intersected on Henday Property; A Follow-Up Summer Drill Program Is Planned

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 23, 2010) - Hathor Exploration Limited (TSX VENTURE:HAT) and Forum Uranium Corp. (TSX VENTURE:FDC) have intersected strong alteration in both the Athabasca Group sandstone and well down into the basement rocks on their Henday Joint Venture property located in the Athabasca Basin, Saskatchewan. Further, there is intermittent uranium mineralization present just below the unconformity. The drill and skidder have been left on site for a planned follow-up drill program this summer.

The Henday property is located 10 km northeast of Hathor's Roughrider discovery at the northern end of the Midwest deposit trend. Hathor has earned a 20% interest in the Henday property from Forum, and has the option to earn up to 70% (see the Company's website at www.hathor.ca for details).

The recently completed winter drill program at Henday totaled 18 holes for 4,061 metres. Drilling followed up on illite clay alteration discovered during the 2008 drill program, which targeted gravity anomalies along a northeast trending structure. In addition to drilling, geophysical work was also carried out this winter. Previous resistivity survey blocks are currently being expanded. Work is expected to be complete by mid-April. This work will refine targets for follow-up drilling planned for this summer.

The extent and strength of the alteration encountered during the winter drill program at Henday are very positive. Clay alteration and bleaching followed by hematization, as shown in Photo 1, are important analogues to known uranium deposits in the Athabasca Basin. Sandstone dissolution (desilicification) is also an important feature present at Henday. The alteration zone extends over a width of 100m, with a strike length of at least 150m and open to the south and west, as is shown on Figure 1. Further, the alteration extends for at least 150m down into the basement lithologies, similar to the extent seen at Hathor's Roughrider uranium deposit.

Intermittent anomalous radioactivity up to 3,200 cps occurs just below the unconformity. Visual examination of the drill core indicates this to be primary and secondary uranium mineralization. It is significant that the unconformity at Henday was intersected at depths shallower than expected, at around 110 metres.

Natural gamma emission radiation is measured in counts per second (cps) using an Exploranium GR‐110 hand-held gamma‐ray scintillometer. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured, and should be used only as a preliminary indication of the presence of radioactive materials.

Core samples have been sent to the Saskatchewan Research Council for geochemical analysis. The samples will be analyzed for a suite of other elements, in addition to uranium, including nickel, cobalt, copper and lead by ICP-ES. Select Results are expected within 4 to 6 weeks.

The Henday Joint Venture is currently operated by Forum. Ken Wheatley, P.Geo. (Saskatchewan, Nunavut), Vice President Exploration at Forum, is responsible for the project and is the Qualified Person for Forum.

Alistair McCready, P.Geo., Hathor's Exploration Manager with responsibility for all of Hathor's exploration in Saskatchewan, is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical disclosure contained in this news release.

Hathor Exploration Limited

Stephen G. Stanley, President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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    Hathor Exploration Limited
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