Hathor Exploration Limited

Hathor Exploration Limited

March 26, 2007 12:05 ET

Hathor Receives Notice from ESO of Permits Granted for 100 Hole Drill Program on Cluff Lake Properties, Athabasca Basin

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 26, 2007) - Hathor Exploration Limited (TSX VENTURE:HAT) is pleased to announce that it has received notice from ESO Uranium Corporation that environmental permits have been granted for a program of reverse circulation and/or percussion drilling on properties optioned to ESO from Hathor Exploration Limited (TSX VENTURE:HAT) and International KRL Resources Corporation (TSX VENTURE:IRK) in the Cluff Lake area of the Athabasca Basin, Saskatchewan.

Approximately 100 drill holes, totaling approximately 10,000 meters, are planned for ESO's 2007 Cluff Lake area program at an estimated cost of about $1,500,000.

One of the properties to be drilled, Hathor's Carswell property, immediately adjoins the formerly-producing Cluff Lake uranium mining operations of AREVA Resources Canada Inc., the world's largest integrated uranium company. AREVA's Cluff Lake operations were primarily shallow, open pit mines that produced 64,212,458 pounds of uranium oxide with an average grade of 0.92% and significant gold values.

Historical work on the Bridle Lake Zone, located on Hathor's Carswell property about 2 kilometres north of the Cluff Lake mines, included two percussion drill holes completed by the former mine operator, AMOK Ltee (MOKTA), in 1979. These holes intersected 0.112% uranium oxide over 1.5 meters from 17.2 to 18.7 meters (CAR 316A) and 0.12% uranium oxide over 0.4 meters from 52.6 to 53 meters (CAR 278).

Airborne and ground electromagnetic surveys of the Bridle Lake Zone, by ESO in 2005 and 2006, defined several conductors that are located immediately up-ice from a radioactive boulder field reported by AMOK to have values up to 0.85% uranium oxide. Radon surveys by ESO have identified two areas of strongly anomalous radon gas in soils in close proximity to the conductors. One of the ESO anomalies correlates with a radon anomaly reported, but not drill tested, by AMOK and the other is in a previously unsurveyed area. Radon gas, a product of the radioactive decay of uranium, is a measure of the presence of uranium at depth in the bedrock.

For more information on Hathor, its subsidiary Roughrider Uranium Corp. and their ten Athabasca 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