Hathor Exploration Limited
TSX VENTURE : HAT

Hathor Exploration Limited

June 24, 2009 16:01 ET

Hathor's Midwest NorthEast Drill Hole #131 Intercepts 13.5 metres of 9.64% U3O8

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 24, 2009) - Hathor Exploration Limited (HAT:TSX-V) is pleased to announce the completion of the U3O8 results from the 2009 winter drill program on the Roughrider Zone, located at its 90%-owned Midwest NorthEast property, northern Saskatchewan. Seventeen (17) of the currently reported drill holes intersected uranium mineralization (using a 0.05 wt% U3O8 cut-off grade). High-grade highlights of U3O8 assayed core-length intervals(i) from nine (9) of these include:



------------------------------------------------------------------------
Maximum
From To Interval U3O8 Grade
DDH (m) (m) (m) (wt%) GT (wt%)
------------------------------------------------------------------------

------------------------------------------------------------------------
MWNE-09-087 224.0 232.0 8.0 2.32 18.60 9.58
------------------------------------------------------------------------
Including 225.0 227.0 2.0 6.26
------------------------------------------------------------------------

------------------------------------------------------------------------
MWNE-09-117 230.5 242.0 11.5 6.44 74.03 35.50
------------------------------------------------------------------------
Including 238.0 241.5 3.5 14.10
------------------------------------------------------------------------

------------------------------------------------------------------------
MWNE-09-121 212.0 222.5 10.5 1.25 13.13 4.21
------------------------------------------------------------------------
Including 212.0 213.0 1.0 3.98
------------------------------------------------------------------------

------------------------------------------------------------------------
MWNE-09-122 234.0 246.0 12.0 1.94 23.26 22.20
------------------------------------------------------------------------
Including 244.0 245.0 1.0 16.80
------------------------------------------------------------------------

------------------------------------------------------------------------
MWNE-09-125 208.5 223.5 15.0 0.82 12.28 5.96
------------------------------------------------------------------------
Including 218.0 219.0 1.0 4.14
------------------------------------------------------------------------

------------------------------------------------------------------------
MWNE-09-126 269.5 271.5 3.5 4.27 14.94 19.80
------------------------------------------------------------------------
Including 270.5 271.5 1.0 14.14
------------------------------------------------------------------------

------------------------------------------------------------------------
MWNE-09-129 246.0 272.0 26.0 3.57 92.94 38.90
------------------------------------------------------------------------
Including 262.5 267.5 5.0 15.65
------------------------------------------------------------------------

------------------------------------------------------------------------
MWNE-09-130 238.0 242.5 4.5 5.16 23.21 24.10
------------------------------------------------------------------------
Including 240.5 241.5 1.0 19.25
------------------------------------------------------------------------

------------------------------------------------------------------------
MWNE-09-131 234.0 247.5 13.5 9.64 130.19 48.10
------------------------------------------------------------------------
Including 240.5 244.0 3.5 25.51
------------------------------------------------------------------------

(i) All intersections are down-hole, core-length intervals and true
thickness of mineralization is yet to be determined.
(ii) "GT" or "Grade x Thickness" is the product of the Interval and
the U3O8 Mineralized Grade for that Interval.


Dr. Alistair McCready, Hathor's Senior Project Geologist, said: "Hathor's 2009 winter drill program exceeded all of our expectations. We were able to complete 89 holes for 30,711 metres, and we hit one of the highest drill interval assays ever in the Basin at 84.20% U3O8. Not only is the Roughrider Zone now extended from 110 metres to approximately 200 metres in length, it remains open in all directions and recent gravity and geological models show the potential to significantly expand the size of mineralization. For example, drill hole MWNE-09-129, a 20 metre step out from 116, returned 26 metres at 3.57% U3O8, including 5.0 metres at 15.65% U3O8. This is the most southwesterly grid-drilled uranium mineralization to date."

The other 8 drill holes contained uranium mineralization ranging from 0.05% U3O8 over 0.5 metres to 1.34% U3O8 over 2 metres. Drill hole MWNE-09-85, although mineralized, was a metallurgical test hole and was not assayed.

A full listing of U3O8 assay results, detailed drill collar information (for the entire winter's drilling), select pictures of altered and uranium-mineralized drill core and scintillometer results (cps values) are available on Hathor's website: www.hathor.ca.

A summer drill program is planned to commence shortly, utilizing both barge-based and land-based drill rigs. These will be used to: further test for strike-length extensions and for potential sandstone-hosted mineralization occurring above the basal unconformity; continue in-fill drilling; and provide material for detailed metallurgical testing. With capital resources of approximately $35 million, Hathor continues to aggressively advance its portfolio of Athabasca region uranium exploration projects.

Samples were analyzed for U3O8 at the Geoanalytical Laboratories of the Saskatchewan Research Council (SRC). The facilities used for the analysis operate in accordance with ISO/IEC 17025:2005 (CAN-P-4E). The samples were analyzed using ISO/IEC 17025:2005-accredited U3O8 method. Laboratory method quality control included the insertion of certified reference materials applicable for the ranges of mineralization encountered. Repeat analyses were performed on every 20th sample. All repeat samples had good reproducibility, including those in the very high grade assay ranges. All samples are being analyzed for a suite of other elements including nickel, cobalt, copper and lead. Select samples are being analyzed for gold, platinum and palladium. These results will be released upon receipt of all results.

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.

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 or accuracy of this release.

Contact Information

  • Hathor Exploration Limited
    Tony Nunziata
    403-560-7040
    or
    Hathor Exploration Limited
    J.J. Jennex
    604-684-6707
    www.hathor.ca