Hathor Exploration Limited

Hathor Exploration Limited

January 30, 2007 10:13 ET

Hathor Outlines EM Conductors at Vedette Lake Uranium Project, Athabasca Basin

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 30, 2007) - Hathor Exploration Ltd. (TSX VENTURE:HAT) is pleased to announce that it has delineated approximately 97 line kilometres of electromagnetic ("EM") EM conductors on its wholly-owned, 49,998 hectare (123,548 acres) Vedette Lake uranium property in the Athabasca basin, Saskatchewan.

On the Vedette Lake property, exploration targets are open-pitable, basement-hosted "root zones" associated with unconformity-style uranium deposits (using the McArthur River, Millennium and Eagle Point uranium deposits as exploration models). The Vedette permit covers the same basement geological setting as the high-grade, eastern Athabasca area uranium deposits that are responsible for about 28% of the world's annual mine production.

Such unconformity-style uranium deposits are often associated with graphitic rock units that are commonly associated with favourable geological structural settings necessary for the formation of this type of deposit. The northeast to north-northeast trending conductors identified by Hathor's recently completed 1,350 line kilometre "AeroTEM III" helicopter-borne, time domain EM survey are the geophysical expressions of such graphitic rocks.

Approximately 40 km of the EM conductors identified on the Vedette Lake permit are associated with the NNE-trending Key Lake Road Shear Zone where basement-hosted uranium mineralization has been reported on the nearby properties of Forum Uranium. In addition, on the Vedette Lake property, the location of uranium and copper-zinc mineralized showings (discovered by intensive prospecting during the late 1970's following the Key Lake discovery and reported in Saskatchewan Industry & Resources "Geological Atlas of Saskatchewan") correspond with some of the EM conductors identified by the recent airborne survey. Follow-up ground geological, geochemical and geophysical exploration will allow Hathor to formulate prospective targets for future diamond drilling.

Saskatchewan Provincial Highway 914, which provides year-around access to the Key Lake uranium mill complex of Cameco Corporation and AREVA Resources Canada Inc., crosses the Vedette Lake property. Key Lake was discovered in 1976 and, between 1983 and 1997, produced over 180 million lbs U3O8 from 3,518,000 tonnes of ore having an average grade of 2.35% U3O8. The Key Lake mill facilities are now used to produce 18.7 million lbs U3O8 annually from the McArthur River mine ores.

For more information on Hathor, its subsidiary Roughrider Uranium Corp. and their projects, please visit the company's website: www.hathor.ca.

Hathor Exploration Limited

Stephen G. Stanley, Director

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Contact Information

  • Hathor Exploration Ltd.
    Stephen Stanley
    (604) 684-6707
    (604) 684-9277 (FAX)
    Website: www.hathor.ca