Hathor Exploration Limited

Hathor Exploration Limited

October 30, 2006 09:57 ET

Hathor Exploration Limited: Diamond Drilling to Start on Carswell Uranium Property

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 30, 2006) - Hathor Exploration Limited (TSX VENTURE:HAT) has been informed by ESO Uranium Corp. "ESO" (TSX VENTURE:ESO) that they have recently completed an extensive ground exploration program and now intend to start a diamond drill program on Hathor's Carswell Property. ESO, as operator of the project, is earning a 50% interest in the Carswell property by expending $1,100,000 on exploration of the property over a four-year period.

The 27,254 hectare (67,346 acre) Carswell Property is located in the western Athabasca Basin of Saskatchewan to the immediate north of AREVA Resources Canada Inc.'s Cluff Lake Mine. During its mine life, the open pit and underground, north-south trending Cluff Lake orebodies produced 64,212,458 lbs of U3O8 at an average grade of 0.92%. In addition to uranium, Cluff Lake also produced about 8,090 ounces of gold as a by-product.

Exploration recently completed by ESO included horizontal loop electromagnetic surveys, resistivity surveys, boulder sampling and prospecting. In the area of the Bridle Lake Zone, which is located about 12 kilometres north of the Cluff Lake mine; ESO completed two horizontal hoop EM grids totaling 58 line kilometres. This work has further delineated numerous conductors detected by an airborne geophysical survey completed in 2005. These EM conductors are situated immediately up-ice from an uraniferous boulder field previously identified by AMOK Ltd. (a predecessor company to AREVA) and having values up to 0.85% U3O8.

In 1979, two percussion drill holes completed on the Bridle Lake Zone by AMOK intersected 0.112% U3O8 from 17.2 to 18.7 metres (hole CAR 316A) and 0.12% U3O8 from 52.6 to 53.0 metres (hole CAR 278). A ten hole (2000 metre) drill program on the Bridle Lake Zone is being prepared by ESO and is expected to commence within the next month.

For more information on Hathor, its subsidiary Roughrider Uranium Corp. and their projects, please see the contact information below.

Hathor Exploration Limited

Stephen G. Stanley, Director

A map of the project is available on the CCNMatthews website: http://www.ccnmatthews.com/docs/1030HAT_map.jpg.

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 Stanley
    (604) 684-6707
    Website: www.hathor.ca