Hathor Exploration Limited

Hathor Exploration Limited

December 16, 2008 08:45 ET

Hathor to Have 4 Drills at Midwest NorthEast Uranium Property This Winter

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 16, 2008) - Hathor Exploration Limited (TSX VENTURE:HAT) is pleased to announce that TEAM Drilling LP of Saskatoon, Saskatchewan will provide four diamond drill rigs this winter to Hathor's 90-per-cent-owned Midwest Northeast uranium property. All four ZMC A5 drills will be used to extend and further define Roughrider Zone uranium mineralization that was discovered in February of 2008.

Stephen Stanley, president of Hathor, stated, "after using their services in a very successful summer drill program, we are very pleased to have TEAM Drilling, a company having local ownership by the Athabasca basin area communities of northern Saskatchewan, back on our property. With yesterday's temperatures in the region at about -40 degrees C, the ice on the lakes is building rapidly and we look forward to a great winter drill season."

Surface exploration permits from Saskatchewan Environment have been issued for 60 planned drill holes totalling about 22,000 metres. To date, Hathor has completed 45 drill holes totaling 16,856 metres and highlights from Roughrider Zone U3O8 assayed core-length intervals(i) (using a cut-off grade of 0.05 per cent U3O8) include:

- 11.9 m grading 5.29 % U3O8, including 0.2 m at 40.20 % U3O8, in DDH 08-12

- 15.0 m grading 10.02 % U3O8, including 2.0 m at 43.85 % U3O8, in DDH 08-20

- 9.0 m grading 10.06 % U3O8, including 3.0 m at 22.72 % U3O8, in DDH 08-21

- 5.0 m grading 3.58 % U3O8, including 1.5 m at 10.85 % U3O8, in DDH 08-21

- 9.5 m grading 2.60 % U3O8, including 2.0 m at 10.39 % U3O8, in DDH 08-28

- 69.0 m grading 2.33 % U3O8, including 9.0 m at 10.54 % U3O8, in DDH 08-30

- 6.5 m grading 20.41 % U3O8 in DDH 08-32

- 46.0 m grading 3.25 % U3O8, including 7.0 m at 11.99 % U3O8, in DDH 08-33

- 6.5 m grading 8.93 % U3O8 in DDH 08-34

- 18.0 m grading 4.15 % U3O8, including 9.0 m at 8.22 % U3O8, in DDH 08-37

- 23.0 m grading 11.23 % U3O8, including 7.0 m at 28.14 % U3O8, in DDH 08-40

(i) The reader is cautioned that all intersections reported are down-hole, core-length intervals and true thickness of mineralization is yet to be determined.

For highlights of base metal mineralization associated with Roughrider Zone uranium mineralization please visit Hathor's web site at www.hathor.ca.

Points North Landing, a regional service centre to the eastern Athabasca region, is located about eight kilometres from Hathor's Midwest NorthEast property and the modern, AREVA-operated McClean Lake uranium mill facilities, are located approximately 11 kilometres to the east. Terra Ventures Inc. owns a 10-per-cent production carried interest in the Midwest NorthEast property.

With working capital of about $35 million, 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 and 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
    Stephen Stanley
    (604) 684-6707
    Hathor Exploration Limited
    Tony Nunziata
    (403) 560-7040
    Website: www.hathor.ca