Terra Ventures Inc.

Terra Ventures Inc.

April 30, 2009 12:50 ET

Terra Ventures Inc.: Hathor Drills 5.5 Metres of 12.6% U3O8 at the Unconformity and Intercepts Up to 68.1% U3O8 in New Basement Zone at Roughrider

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 30, 2009) - Terra Ventures Inc. (TSX VENTURE:TAS) is pleased to provide an update on the Midwest NorthEast Uranium property in which Terra owns a 10% production carried interest. In a press release dated April 30, 2009, Hathor reported: "Hathor Exploration Limited (TSX VENTURE:HAT) is pleased to announce U3O8 assay results for a further ten drill holes from the 2009 winter drill program on the Roughrider Zone at its 90%-owned Midwest NorthEast property, northern Saskatchewan.

Eight of the ten holes intercepted uranium mineralization. High-grade highlights of U3O8 assayed core-length intervals(i) (using a 0.05% U3O8 cut-off grade) from four of these eight drill holes include:

Drill hole MWNE-09-91 (angled hole):

- 18 metres grading 2.19% U3O8 from 233.5 to 251.5 m core-length in the basement

Drill hole MWNE-09-94 (vertical hole):

- 5.5 metres grading 12.62% U3O8 from 205.0 to 210.5 m core-length at the unconformity, including:

-- 3.0 metres grading 22.78% U3O8 from 206.5 to 209.5 m core-length

- 2.5 metres grading 26.40% U3O8 from 260.0 to 262.5 m core-length in the basement, including:

-- 0.5 metres grading 68.10% U3O8 from 261.0 to 261.5 m core-length

Drill hole MWNE-09-97 (vertical hole):

- 7.0 metres grading 2.83% U3O8 from 209.5 to 216.5 m core-length at the unconformity, including:

-- 2.0 metres grading 8.16% U3O8 from 210.5 to 212.5 m core-length

Drill hole MWNE-09-101 (vertical hole):

- 3.5 metres grading 3.82% U3O8 from 211.0 to 214.5 m core-length at the unconformity, including:

-- 1.5 metres grading 7.83% U3O8 from 212.0 to 213.5 m core-length; and

- 3.5 metres grading 16.98% U3O8 from 217.5 to 221.0 m core-length in the basement

(i) All intersections are down-hole, core-length intervals and true thickness of mineralization is yet to be determined.

Dr. Alistair McCready, Hathor's Senior Project Geologist, said: "In drill hole 09-94, we are very pleased to see not only high-grade uranium mineralization occurring at the unconformity, which bodes well for finding more high-grade, sandstone-hosted uranium mineralization at and above the unconformity, but also the presence of a new basement-hosted, high-grade zone that we hadn't expected. This provides further support to our model of having multiple, sub-parallel, high-grade zones at Roughrider."

The other 4 drill holes contained uranium mineralization ranging from 0.06% U3O8 over 0.5 metres to 0.88% U3O8 over 0.5 metres. The maximum grade intercepted in the ten drill holes reported here is 68.10% U3O8 over 0.5m.

During the winter, Hathor completed 30,711 meters of diamond drilling in 89 drill holes from the ice of South McMahon Lake. Assay results have now been presented for 50 of these drill holes. Full U3O8 assay results, detailed drill collar information (for the entire winter's drilling), select pictures of altered and uranium-mineralized drill core and scintillometer (CPS values) are available on Hathor's website at www.hathor.ca.

The successful 2009 winter drill program has:

- Demonstrated continuity of Roughrider Zone mineralization

- Identified significant strike and width extensions of the original Roughrider zone

- Discovered zones of high radioactivity at (+/- 5m) the unconformity

- Intersected the highest levels of radioactivity (as determined by down-hole gamma-ray probe data) on the property to date in DDH MWNE-09-116, a step-out hole to the southwest

- Provided evidence for new basement-hosted zones

Drilling is planned to continue after spring breakup utilizing both barge-based and a land-based drill rigs. These will be used to: further test for strike-length and unconformity extensions; continue in-fill drilling; and provide material for detailed metallurgical testing. Hathor is fully-funded to carry out this summer work and will be releasing assay data from the remaining drill holes of the winter campaign as they are received and verified.

Samples were analyzed for U3O8 at the Geoanalytical Laboratories of the Saskatchewan Research Council (SRC). The facilities used for the analysis operate in accordance with ISO/IEC 17025:2005 (CAN-P-4E). The samples were analyzed using ISO/IEC 17025:2005-accredited U3O8 method. Laboratory method quality control included the insertion of certified reference materials applicable for the ranges of mineralization encountered. Repeat analyses were performed on every 20th sample. All repeat samples had good reproducibility. All samples are being analyzed for a suite of other elements including nickel, cobalt, copper and lead.

Terra Ventures Inc. owns a 10-per-cent production carried interest in the Midwest NorthEast property.

Benjamin Ainsworth, P.Eng., a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release.

Terra Ventures is a junior exploration company focused on acquiring and developing quality uranium projects which have world class potential. The Company is dedicated to building shareholder value by acquiring strategic uranium properties in this period of strengthening global demand for uranium supply. The Company's combination of strategic land positions, advanced stage projects and no risk carried interest projects - combined with technical expertise and management's fundraising ability - are the foundation for growth in the uranium business.

On behalf of the board of directors of TERRA VENTURES INC.

Gunther Roehlig, President

This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.

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

Contact Information

  • Terra Ventures Inc.
    Gunther Roehlig
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