Terra Ventures Inc.
TSX VENTURE : TAS

Terra Ventures Inc.

August 11, 2008 11:29 ET

Terra Ventures Inc.: Hathor Extends Roughrider Zone Uranium Mineralization a Further 15 Metres to the Northeast

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 11, 2008) - Terra Ventures Inc. (TSX VENTURE:TAS) is pleased to provide an update on the Midwest NorthEast Uranium property in which Terra owns a 10% production carried interest.

In a press release dated August 11, 2008, Hathor reported, "Hathor Exploration Limited (TSX VENTURE:HAT) announces that it has encountered basement-hosted uranium mineralization in the fourth, fifth and sixth diamond drill holes completed during the summer 2008 drill program on Hathor's 90%-owned Midwest NorthEast project.

Step-out drill hole MWNE-08-34 extends the basement-hosted Roughrider Zone mineralization by approximately 15 metres towards the northeast. This hole intersected a 30.2 metre mineralized core length interval having radioactivity readings ranging from 350 counts per second ("cps") to greater than 9,999 cps (off-scale). Within this zone, nine individual zones (ranging from 0.1 to 4.6 m) of highly radioactive (5,000 cps to greater than 9,999 cps) mineralization were encountered.

Drill hole MWNE-08-34 was drilled at an azimuth of 318 degrees and a dip of -45 degrees and targeted the northeast strike extension of Roughrider Zone uranium mineralization that was intersected in drill hole MWNE-08-32. The dip of this drill hole increased with depth to -50 degrees. The sub-Athabasca unconformity was encountered at a core length of 295 m, corresponding to a vertical depth of approximately 216 m. The hole ended in unaltered, non-uranium-bearing garnet biotite gneisses at a drill core length of 419 metres.

Drill hole MWNE-08-33 was drilled at an azimuth of 313 degrees and a dip of -48 degrees. Deviation of this hole resulted in the hole being approximately 5 m spatially to the northwest of DDH MWNE-08-31. Hole MWNE-08-33 intersected a 45.8 metre mineralized core length interval having radioactivity readings ranging from 500 counts per second ("cps") to greater than 9,999 cps (off-scale). Within this zone, thirteen individual zones (ranging from 0.1 to 3.5 m) of highly radioactive (5,000 cps to greater than 9,999 cps) mineralization were encountered. The sub-Athabasca unconformity, in drill hole MWNE-08-33, was encountered at a core length of 296 m, corresponding to a vertical depth of approximately 216 m. This hole ended in fresh, unaltered, non-uranium-bearing Hudsonian granitic rocks at a drill core length of 416 metres.

Drill hole MWNE-08-35 was drilled at an azimuth of 318 degrees and a dip of -50 degrees. Although a 1.4 m core interval of highly radioactive (5,000 cps to greater than 9,999 cps) basement-hosted mineralization was encountered at a core length of 312.3 m, this hole is believed to mostly undercut the target basement mineralization intersected in MWNE-08-34 due to an increase in dip to -54 degrees and a lateral deviation to approximately 329 degrees. The sub-Athabasca unconformity, in drill hole MWNE-08-35, was encountered at a core length of 277 m, corresponding to a vertical depth of approximately 218 m. This hole ended in fresh, unaltered, non-uranium-bearing garnet biotite gneiss at a drill core length of 470 metres.

The summer diamond drill program is based on Hathor's new Roughrider Zone exploration model that shows the primary drill target being the location where the intersecting, basement-hosted uranium-bearing structures of its Roughrider Zone discovery meet at or above the Athabasca unconformity. This target is identified by coincident gravity and resistivity lows, and as yet remains untested.

Scintillometer results for selected drill core intervals from holes MWNE-08-33, MWNE-08-34 and MWNE-08-35 are presented below. For a drill hole location map, please visit Hathor's website at www.hathor.ca.

Hathor measures natural gamma emission radiation from drill core in counts per second using a hand-held Exploranium GR-110G gamma ray scintillometer as a reliable guide for directing drill programs. The reader is cautioned that: 1) 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; and, 2) all intersections are down-hole, core interval measurements and true thicknesses are yet to be determined. For general comparisons of scintillometer cps readings as related to assay results, please review Hathor's previous news releases concerning its winter drill program.

Drill core samples will be submitted for uranium, base and precious metal assay analyses by the Geoanalytical Laboratories of the Saskatchewan Research Council (SRC), having facilities operating in accordance with ISO/IEC 17025:2005 (CAN-P-4E) general requirements for the competence of mineral testing and calibration laboratories.

Terra Ventures owns a 10% carried interest in the Midwest NorthEast property.

With capital resources in excess of $27 million, Hathor continues to aggressively advance its portfolio of Athabasca region uranium exploration projects. This area accounts for approximately 25 per cent of the world's annual mine production of uranium. All of this production comes from unconformity-style uranium ore deposits - the highest-grade uranium ore deposits in the world.

Benjamin Ainsworth, P.Eng., a director of the company and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release."



Midwest NorthEast Project - Drill Hole MWNE-08-34 -
Selected Scintillometer Results

MWNE-08-34

From To Interval Maximum
(metres) (metres) (metres) CPS
---------------------------------------------------
309.0 309.1 0.1 greater than 9,999
309.1 309.8 0.7 400
309.8 310.3 0.5 2,500
310.3 311.0 0.7 1,500
311.0 311.2 0.2 700
311.2 311.7 0.5 3,000
311.7 312.0 0.3 greater than 9,999
312.0 312.3 0.3 5,500
312.3 314.0 1.7 greater than 9,999
314.0 314.2 0.2 9,500
314.2 315.0 0.8 5,000
315.0 315.2 0.2 7,500
315.2 316.3 1.1 5,000
316.3 318.4 2.1 400
318.4 318.7 0.3 3,300
318.7 318.8 0.1 greater than 9,999
318.8 319.1 0.3 3,000
319.1 319.2 0.1 4,000
319.2 319.3 0.1 greater than 9,999
319.3 319.9 0.6 3,000
319.9 320.1 0.2 500
320.1 320.9 0.8 3,000
320.9 321.1 0.2 2,000
321.1 321.4 0.3 5,000
321.4 325.2 3.8 700
325.2 326.8 1.6 350
326.8 327.8 1.0 600
327.8 327.9 0.1 4,000
327.9 328.8 0.9 1,600
328.8 329.0 0.2 7,000
329.0 329.4 0.4 1,000
329.4 329.5 0.1 greater than 9,999
329.5 330.6 1.1 700
330.6 331.0 0.4 3,000
331.0 331.1 0.1 greater than 9,999
331.1 331.8 0.7 5,000
331.8 334.2 2.4 700
334.2 335.0 0.8 1,500
335.0 338.1 3.1 400
338.1 338.7 0.6 1,000
338.7 338.9 0.2 4,000
338.9 339.0 0.1 7,000
339.0 339.2 0.2 5,000
---------------------------------------------------
30.2 metres

(i) All intersections are down-hole, core interval
measurements and true thicknesses are yet to be
determined



Midwest NorthEast Project - Drill Hole MWNE-08-33 -
Selected Scintillometer Results

MWNE-08-33

From To Interval Maximum
(metres) (metres) (metres) CPS
---------------------------------------------------
314.7 315.0 0.3 700
315.0 315.2 0.2 4,000
315.2 315.3 0.1 greater than 9,999
315.3 315.5 0.2 1,000
315.5 315.8 0.3 1,000
315.8 319.0 3.2 greater than 9,999
319.0 319.1 0.1 7,000
319.1 319.3 0.2 6,000
319.3 319.6 0.3 4,000
319.6 319.8 0.2 greater than 9,999
319.8 320.0 0.2 6,000
320.0 320.4 0.4 greater than 9,999
320.4 320.6 0.2 5,000
320.6 320.8 0.2 greater than 9,999
320.8 321.2 0.4 5,000
321.2 326.2 5.0 500
326.2 326.8 0.6 3,000
326.8 327.4 0.6 600
327.4 327.8 0.4 5,000
327.8 328.0 0.2 1,000
328.0 328.6 0.6 1,000
328.6 329.0 0.4 2,000
329.0 330.1 1.1 600
330.1 330.7 0.6 3,000
330.7 332.0 1.3 500
332.0 332.1 0.1 greater than 9,999
332.1 332.5 0.4 600
332.5 333.8 1.3 500
333.8 334.0 0.2 greater than 9,999
334.0 335.0 1.0 800
335.0 335.2 0.2 5,000
335.2 336.4 1.2 3,000
336.4 336.9 0.5 3,000
336.9 338.8 1.9 800
338.8 339.2 0.4 2,000
339.2 341.0 1.8 800
341.0 341.9 0.9 700
341.9 342.3 0.4 greater than 9,999
342.3 343.8 1.5 7,000
343.8 344.0 0.2 greater than 9,999
344.0 344.4 0.4 5,000
344.4 345.2 0.8 3,000
345.2 345.7 0.5 1,000
345.7 346.4 0.7 greater than 9,999
346.4 347.0 0.6 3,000
347.0 347.8 0.8 greater than 9,999
347.8 348.6 0.8 5,000
348.6 349.2 0.6 1,000
349.2 350.5 1.3 greater than 9,999
350.5 350.8 0.3 8,000
350.8 351.2 0.4 greater than 9,999
351.2 351.7 0.5 8,000
351.7 352.7 1.0 greater than 9,999
352.7 353.3 0.6 4,000
353.3 354.0 0.7 greater than 9,999
354.0 358.3 4.3 1,000
358.3 359.6 1.3 500
359.6 360.2 0.6 2,000
360.2 360.5 0.3 5,000
---------------------------------------------------
45.8 metres

(i) All intersections are down-hole, core interval
measurements and true thicknesses are yet to be
determined



Midwest NorthEast Project - Drill Hole MWNE-08-35 -
Selected Scintillometer Results

MWNE-08-35

From To Interval Maximum
(metres) (metres) (metres) CPS
---------------------------------------------------
312.1 312.3 0.2 800
312.3 312.7 0.4 5,000
312.7 313.1 0.4 9,000
313.1 313.2 0.1 greater than 9,999
313.2 313.3 0.1 9,000
313.3 313.5 0.2 5,000
---------------------------------------------------
1.4 metres

(i) All intersections are down-hole, core interval
measurements and true thicknesses are yet to be
determined


Terra Ventures is a junior exploration company focused on acquiring and developing quality uranium projects which have world class potential. The Company is dedicated to building shareholder value by acquiring strategic uranium properties in this period of strengthening global demand for uranium supply. The Company's combination of strategic land positions, advanced stage projects and no risk carried interest projects - combined with technical expertise and management's fundraising ability - are the foundation for growth in the uranium business.

On behalf of the board of directors of TERRA VENTURES INC.

Gunther Roehlig, President

This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.

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

Contact Information

  • Terra Ventures Inc.
    Gunther Roehlig
    President
    (604) 683-0911 or Toll Free: 1-866-683-0911
    (604) 683-7161 (FAX)
    Website: www.terrauranium.com