Hathor Exploration Limited
TSX VENTURE : HAT

Hathor Exploration Limited

June 01, 2009 09:00 ET

Forum and Hathor Identify High Priority Drill Targets on Henday Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 1, 2009) - Forum Uranium Corp. (TSX VENTURE:FDC) and Hathor Exploration Limited (TSX VENTURE:HAT) are pleased to announce that high-priority drill targets have been identified as a result of ground electromagnetic (EM) and gravity surveys recently completed on the Henday Lake project, northern Saskatchewan. The Henday property has exceptional potential for a shallow, high-grade uranium deposit and is located along the northeast trend hosting the AREVA- operated Midwest Lake deposit (41 million lbs. U3O8 at an average grade of 5.5%) and Hathor's Roughrider Zone. The sandstone thickness on this project averages only 160 metres, making such a target amenable to open pit mining operations.

To view a map of "Figure 1: Henday Lake Location Map. (Elliptical area shown in more detail as Figure 2)", please visit the following link:

http://media3.marketwire.com/docs/fdcmap601.pdf

The 2008 geophysical program identified an important east-northeast trending conductive structure and drilling by Forum in 2008 identified a clay altered zone having elevated trace metal geochemistry in the Mallen Lake area. Ground EM and gravity surveys were conducted this past winter over three target areas. The ground EM survey helps to interpret the complex conductive trend and the gravity survey detects areas of low density; typically areas of clay-rich alteration that may be caused by hydrothermal alteration associated with uranium mineralization. A total of 15 conductor segments totaling 8.4 km in length have been identified, as have a number of gravity lows. Forum has used these surveys extensively on its Key Lake Road project and Hathor used these methods to help define their Roughrider discovery. Results on Grid G are shown below in Figure 2. The program has developed numerous drill targets within a strongly tectonized conductive system with associated gravity lows. Results from the two other grids are forthcoming.

To view a map of "Figure 2: Contoured gravity and EM on Grid G, Henday Lake Project.", please visit the following link:

http://media3.marketwire.com/docs/fdcmap2_601.pdf

Forum is pleased with the positive results of the survey, and, as operator of the Henday project, will recommend a drill campaign slated for January, 2010 or earlier. The combined efforts of the Forum and Hathor exploration teams should take the property to its full potential.

Under terms of the option, Hathor must spend $3.5 million in exploration over the next 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 continues to aggressively advance its portfolio of Athabasca region uranium exploration projects. This area accounts for approximately 23 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.

For more information on Hathor, please visit the company's website: www.hathor.ca.

Hathor Exploration Limited

Stephen G. Stanley, Director

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
    Tony Nunziata
    403-560-7040
    or
    Hathor Exploration Limited
    JJ Jennex
    604-684-6707