Hathor Exploration Limited

Hathor Exploration Limited

May 31, 2006 08:30 ET

Hathor Receives Conditional Acceptance on Roughrider Acquisition

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 31, 2006) - Hathor Exploration Limited (TSX VENTURE:HAT) ("Hathor") is pleased to announce that it has received conditional acceptance, from the TSX Venture Exchange (the "Exchange"), of its purchase of 100% of the issued shares of Roughrider Uranium Corp. All of Roughrider's shareholders have accepted Hathor's offer. Final Exchange acceptance is expected following the satisfaction of the customary conditions established by the Exchange, in particular the acceptance of NI 43-101 reports.

As announced on March 15, 22 and 24, 2006, and concurrent with the Roughrider acquisition, are two non-brokered private placements raising gross proceeds of $3,125,000 and $6,300,000 respectively. Private placement proceeds are being held in escrow and closing is subject to final Exchange approval of the Roughrider acquisition.

Roughrider is a private company whose principal assets are holdings in uranium dispositions strategically-located with regard to the most prospective geology of the eastern Athabasca Basin of Saskatchewan. The eastern Athabasca Basin accounts for approximately 30% of the world's annual mine supply of uranium.

For more information on Hathor, its projects and a map of Roughrider's uranium properties please visit our web site at www.hathor.ca or contact Stephen Stanley at 604 684 6707.

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 Limited
    Stephen G. Stanley
    (604) 684-6707
    (604) 684-9277 (FAX)