Hathor Exploration Limited

Hathor Exploration Limited

November 13, 2007 11:42 ET

Hathor Mobilizes Diamond Drill to South Russell Uranium Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 13, 2007) - Hathor Exploration Limited (TSX VENTURE:HAT) is pleased to announce that it has mobilized a diamond drill to its South Russell uranium property following the granting of Surface Exploration Permits by Saskatchewan Environment.

The South Russell property is comprised of two claims that are 100% owned by Hathor and six claims that are 90% Hathor-owned with the balance held by Terra Ventures Inc. (8%) and Bullion Fund Inc. (2%). This project is located within the eastern Athabasca Basin of northern Saskatchewan where the world's highest-grade uranium ore deposits account for approximately 25 per cent of the world's annual mine production of uranium.

At South Russell, a first-phase drill program, comprised of nine holes totaling about 4,500 metres, will test potential uranium-bearing structures identified by electromagnetic conductors and high-resolution 2D seismic surveys completed by Hathor since 2004.

These initial drill targets occur in a small area of the property that is located about 22 kilometers (14 miles) north-northeast of Cameco Corporation and AREVA Resources Canada Inc.'s formerly-producing Key Lake Mine which, between 1983 and 1997, produced over 180 million pounds U3O8. Access to this area is provided by an all-weather road along which uranium ores from Cameco and AREVA's McArthur River mine are trucked to their Key Lake site for processing of 18.7 million pounds U3O8 annually.

Additional drill targets are being developed in other areas of the large, 25,928 hectare (64,069 acre) South Russell property.

Hathor's geological team will guide the program and drilling will be performed by Cyr Drilling International Ltd. Drill core analyses will be conducted by the Geoanalytical Laboratories of the Saskatchewan Research Council ("SRC"), whose facilities operate in accordance with ISO/IEC 17025:2005 (CAN-P-4E) General Requirements for the Competence of Mineral Testing and Calibration laboratories.

With capital resources in excess of Cdn $20 million, Hathor continues to aggressively advance its portfolio of exploration projects in the Athabasca area of mining-friendly Saskatchewan and Alberta. For more information on the Hathor's uranium projects, please visit the company's website: www.hathor.ca or contact Stephen Stanley at 604-684-6707.

Hathor Exploration Limited

Stephen G. Stanley, Director

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Contact Information

  • Hathor Exploration Limited
    Stephen Stanley
    (604) 684-6707
    (604) 684-9277 (FAX)
    Website: www.hathor.ca