Hathor Exploration Limited

Hathor Exploration Limited

February 08, 2010 11:00 ET

Hathor and Forum Commence Drilling at the Henday Project, Athabasca Basin

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 8, 2010) - Forum Uranium Corp. (TSX VENTURE:FDC) and Hathor Exploration Limited (HAT: TSX-V) have started their 18-hole diamond drill program on the Henday project in northern Saskatchewan. This C$1.65 million exploration program is operated by Forum and funded by Hathor, according to a Joint Venture Option Agreement executed by the two companies. A ground gravity and electromagnetic geophysical survey has also begun that will be used to identify additional targets for future drilling.

  • 4,500 meter drill program
  • On trend with Areva's Midwest Lake deposit and Hathor's Roughrider zone
  • Shallow drill targets, average depth of 160 meters

The 7,204 hectare Henday project is located 10 km northeast of Hathor's Midwest NE property, where recent drill results have reported 28 m of 12.71 % U3O8 with assays up to 82 % U3O8 (see Hathor News Release dated Nov. 12th, 2009). The Midwest Lake mine development project owned by AREVA/Denison, (41 million lbs. U3O8 at an average grade of 5.5%) is located just 3 km to the southwest, along strike.

To view Figure 1: Location Map of the Henday Project, please click the following link: http://www.hathor.ca/s/Henday.asp

The drill program will be concentrated along a N70 structure in the Mallen Lake area (ellipse in Figure 1) of the property. This area shows several promising gravity lows; similar targeting techniques have been used successfully in identifying Hathor's Roughrider Zone at the Midwest NE property.

The 2010 exploration program, upon completion, will bring Hathor's ownership of the project to 40%. Under terms of the Agreement, Hathor must spend $3.5 million in exploration over three years to earn a 60% interest in the project.

Ken Wheatley, P.Geo. (Saskatchewan, Nunavut), Vice President, Exploration is the Qualified Person that has reviewed the contents of this news release.

Hathor Exploration Limited

Stephen G. Stanley, Director

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 of this release.

Contact Information

  • Hathor Exploration Limited
    Tony Nunziata
    Hathor Exploration Limited
    JJ Jennex