Hathor Exploration Limited

Hathor Exploration Limited

March 07, 2007 11:10 ET

Hathor Receives Permits to Drill at Midwest NE Uranium Project, Athabasca Basin

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 7, 2007) - Hathor Exploration Limited (TSX VENTURE:HAT) is pleased to announce that Saskatchewan Environment has granted Surface Exploration Permits allowing the company to proceed with a diamond drilling program on their 90%-owned Midwest NE uranium property.

Points North Landing, a regional service centre to the eastern Athabasca region, is located about 8 kilometres from Hathor's Midwest NE property. Provincial Highway 914 and an airstrip provide year-around access to Points North and proximity to this infrastructure should allow Hathor to drill throughout the year.

To the immediate southwest of the Midwest NE project is the Midwest property of AREVA Resources Canada Inc., Denison Mines Corp. and OURD Canada Co. Ltd. There, open-pit mining of a shallow (about 200m depth) orebody that grades 5.47% U3O8, 4.37% nickel and 0.33% cobalt is planned for 2008.

In addition to their Midwest deposit uranium resources, 2005 exploration drilling by AREVA resulted in the discovery of the Mae Zone, approximately three kilometers northeast of the Midwest deposit and about 900 metres from Hathor's Midwest NE property boundary. At the Mae Zone, drill results grading as high as 12.5 metres of 15.30% U3O8 have been reported.

The modern, AREVA-operated McClean Lake uranium mill facilities are located approximately 10 km to the east of Hathor's Midwest NE property and one option proposed for a mine-haul road from AREVA's planned Midwest mine to their McClean Lake mill cuts across Hathor's Midwest NE project.

The geological setting of the eastern Athabasca Basin region of northern Saskatchewan accounts for approximately 28% 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, its subsidiary Roughrider Uranium Corp. and their ten Athabasca projects, please visit the company's website: www.hathor.ca.

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