Terra Ventures Inc.

Terra Ventures Inc.

December 15, 2009 12:21 ET

Terra Ventures Inc.: Hathor Plans Aggressive Winter Drill Program at Midwest Northeast Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 15, 2009) - 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 December 15, 2009, Hathor reported: "Hathor Exploration Limited (HAT:TSX-V) announces that all of the permits have been received for an aggressive winter 2010 diamond drill program at its 90%-owned Midwest NorthEast property, northern Saskatchewan.

Hathor's drill program is expected to start in early to mid-January and comprise 80 holes that will total about 26,000 metres, with a contingency budget for 10 further drill holes totaling 4,000 metres. Team Drilling LP is currently on site preparing drill site locations on McMahon Lake.

This drill program will have three objectives:

  • Infill and step out drilling on and around the partially outlined Roughrider Zone, with a focus on increasing the mineral resource estimate by targeting the very high-grade U3O8 zones.
  • Extensive testing of the area around the newly identified high-grade mineralization in drill hole MWNE 09-170 (28 m of 12.71 wt% U3O8) which is located on land approximately 200 metres to the east of the Roughrider Zone (see Hathor news release dated 12th Nov 2009) and lies within a zone of strong alteration, similar to that of the Roughrider Zone.
  • Reconnaissance drilling of other targets elsewhere on the property, including further testing of another zone of alteration, located about 1.2 km ENE from the Roughrider Zone (see Hathor news release dated 5th Aug 2009).

Team Drilling LP of Saskatoon, Saskatchewan, is providing drill equipment and services.

In addition to diamond drilling, an extensive ground resistivity geophysical survey is currently being performed over the entire property. These data will be used to help refine and prioritize new targets elsewhere on the property.

Drill core samples will be submitted for U3O8 analyses at the Geoanalytical Laboratories of the Saskatchewan Research Council (SRC) in Saskatoon, Saskatchewan, that operates in accordance with ISO/IEC 17025:2005 (CAN-P-4E). The samples will be analyzed using their ISO/IEC 17025:2005-accredited U3O8 method. Laboratory method quality controls include the insertion of certified reference materials applicable for the ranges of mineralization encountered and duplicate samples. In addition to the laboratory duplicates, reject repeat analyses will be performed. All samples will also be analyzed for a suite of other elements including nickel, cobalt, copper and lead. Select samples will be analyzed for gold, platinum and palladium. Assay results will be released by Hathor as they are received from the SRC.

Terra Ventures Inc. owns a 10-per-cent production carried interest in the Midwest NorthEast property.

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

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


Gunther Roehlig

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.

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