Terra Ventures Inc.

Terra Ventures Inc.

June 12, 2007 09:30 ET

Retransmission-Terra Ventures Inc.: Update on Hathor Carried Interest on Athabasca Basin Uranium Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 12, 2007) - Terra Ventures Inc. (TSX VENTURE:TAS) is pleased to provide an update of work performed on the Midwest Northeast Uranium Property owned and operated by Hathor Exploration Ltd. (TSX VENTURE:HAT). Terra owns an 8-per-cent carried working interest in this property comprising 1,240 acres, near Midwest Lake in the northeastern part of the Athabasca Basin, Saskatchewan.

In a press release dated May 29, 2007, Hathor reported that a resistivity survey indicated that the MIDWEST URANIUM TREND continues onto the Midwest Northeast Property: "Hathor Exploration Ltd. has completed a ground resistivity survey over its 90-per-cent-owned, 502-hectare (1,240-acre) Midwest Northeast uranium property.

Galvanic (or direct current) resistivity surveys are proving to be an effective means of delineating deep-seated alteration features within Athabasca basin sediments and underlying basement rocks, thus helping to discriminate and prioritize uranium exploration drill targets. Preliminary processing (using 2-D profiles and 3-D inversion code) of 20 line kilometres of resistivity data from a pole-dipole array survey (at 240-metre line spacing, a equals 100 metres and n equals one to eight) completed by Peter E. Walcott & Associates Ltd. suggests that the corridor of altered rocks that is associated with ore-mineralizing processes at the nearby Midwest deposit, the Josie zone and the Mae zone continues directly onto Hathor's Midwest NE property.

Resistivity data presented during the geophysical methods and techniques applied to uranium exploration session at the Society of Exploration Geophysicists 2006 annual general meeting clearly show the relationship of resistivity lows to the primary N30E uranium-mineralized trend on the adjacent Midwest mine development property operated by Areva Resources Canada Inc. There, open-pit mining is planned for a shallow (depth of about 200 m) ore body that grades 5.47 per cent U3O8, 4.37 per cent nickel and 0.33 per cent cobalt. In addition to the Midwest deposit uranium resources, 2005 exploration drilling by Areva resulted in the discovery of the Mae zone, approximately three kilometres 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 14.6 metres of 26.7 per cent eU3O8 have been reported by Denison Mines Corp.

Recent improvements in both data gathering equipment and data processing (through increased computational power, and 2-D and 3-D inversion techniques) have resulted in DC resistivity surveys becoming a very valuable method to define areas of potential uranium mineralization.

Zones of low resistivity, either in the sandstone or basement rocks, are interpreted to reflect either conductive lithologies such as graphitic rocks or the presence of desilicification or clay alteration haloes caused by hydrothermal systems associated with reactivated structural events (fault zones) within the Athabasca sandstones or the basement. Long-lived, uranium-enriched fluid flows along reactivated fault zones are key metallogenic factors for the formation of unconformity style uranium deposits.

The Midwest NE property is located about five kilometres north of Saskatchewan Highway No. 905 near Points North Landing, the regional service centre, and about 10 kilometres to the west of the Areva-operated McClean Lake mill facilities, which will be used to process its Midwest mine ore. Hathor continues to use advanced applied science exploration techniques in an integrated approach to its search for unconformity style uranium deposits in the eastern Athabasca area of mining-friendly Saskatchewan. The diamond-drill program, which began in late spring and ended after three holes because of spring breakup will greatly benefit from continuing analysis of the resistivity and 3-D seismic datasets. Following final processing of these datasets, Hathor will have defined the best possible targets when drilling resumes on the Midwest NE project."

In 2004, the Athabasca basin hosted the world's richest uranium mines and provided 30 per cent of the world's uranium needs.

Greig Hutton, President of Terra Ventures, says: "Geophysical confirmation that the Midwest uranium trend extends onto our property is a great development. When we acquired our interest in this project, we knew that to search for uranium elephants we had to go to elephant country-near uranium deposits in the Athabasca Basin."

Mike Magrum, PEng, a qualified person under National Instrument 43-101, has approved the technical content of this news release.

On behalf of the board of directors of


Greig Hutton, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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