Terra Ventures Inc.
TSX VENTURE : TAS

Terra Ventures Inc.

April 15, 2009 17:54 ET

Terra Ventures Inc.: Hathor Extends Uranium Mineralization at Roughrider Zone, Releases Results for 24 Drill Holes and Scintillometer Data for 89 Drill Holes

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 15, 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 15, 2009, Hathor reported: Hathor Exploration Limited (TSX VENTURE:HAT) is pleased to announce the successful completion of the 2009 winter drill program on the Roughrider Zone at its 90%-owned Midwest NorthEast property, northern Saskatchewan.

During this winter, Hathor completed in excess of 30,000 meters of diamond drilling in 89 drill holes from the ice of South McMahon Lake. Stephen Stanley states: "It is with good reason that we drilled approximately 50% more than we originally planned, and it speaks volumes as to the excellence of Hathor's exploration team, the quality of TEAM Drilling LP and the significance of our Midwest NorthEast project."

The successful 2009 winter drilling has:

- Demonstrated continuity of mineralization.

- Identified significant strike length extensions to the southwest and northeast, and width extensions of the original Roughrider zone; all of these extensions are still open.

- Discovered initial zones of high radioactivity at and above the unconformity (e.g. MWNE-09-94, MWNE-09-97 and MWNE-09-101). See photos of drill holes posted on Hathor's website, which show off-scale CPS readings.

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

In addition to the assay results presented below, Hathor is also pleased to release scintillometer data (CPS values) and detailed drill collar information for the entire winter's drilling on its new website at www.hathor.ca, as well as select pictures of altered and uranium-mineralized drill core. The company believes these data will present the reader with a more complete picture of the success of this winter's program.

Drilling is planned to continue after spring breakup utilizing both barge-based and land-based drill rigs. These will be used to: further test for strike-length extensions and extensions of sandstone-hosted mineralization; 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.

Highlights of U3O8 assayed core-length intervals(i) (using a 0.05% U3O8 cut-off grade) from 24 recently analyzed drill holes include:

Drill hole MWNE-09-79a:

- 12 metres grading 10.18% U3O8 from 232.0 to 244.0 m core length, including:

-- 2.5 metres grading 23.58% U3O8 from 233.0 to 235.5 m core length

Drill hole MWNE-09-80:

- 18.5 metres grading 3.43% U3O8 from 223.5 to 242.0 m core length, including:

-- 1.5 metres grading 14.42% U3O8 from 239.0 to 240.5 m core length

Drill hole MWNE-09-82:

- 10 metres grading 1.38% U3O8 from 254.5 to 264.5 m core length, including:

-- 1.5 metres grading 5.87% U3O8 from 255.0 to 256.5 m core length

Drill hole MWNE-09-87:

- 5 metres grading 3.10% U3O8 from 224.0 to 229.0 m core length, including:

-- 1.5 metres grading 7.25% U3O8 from 225.5 to 227.0 m core length

Drill hole MWNE-09-71:

- 3.5 metres grading 3.58% U3O8 from 248.0 to 251.5 m core length

Drill hole MWNE-09-74:

- 5.5 metres grading 3.19% U3O8 from 247.5 to 253.0 m core length, and

- 7.5 metres grading 0.73% U3O8 from 258.0 to 265.5 m core length

Of the remaining 18 of 24 drill hole results, 9 were non-mineralized and 9 contained mineralization ranging from 0.05% U3O8 over 0.5 metres to 1.95% U3O8 over 1.5 metres. Hathor has now reported U3O8 assays for 40 of the 89 drill holes completed during the winter. These results are presented in tabular and graphic formats on Hathor's new website at www.hathor.ca.

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

Of the 89 holes in the winter drill program, 24 holes were unmineralized with less than 500 CPS and 45 holes had intervals of greater than 9,999 CPS (off-scale). The remaining 20 holes had intervals that ranged from 500 CPS to 9,800 CPS.

Dr. Alistair McCready, Hathor's Senior Project Geologist, said: "We have learned a great deal about the Roughrider Zone this year. This winter's drill program has helped to drive home the fact that a drill hole can miss by centimeters in zones of high-grade mineralization. For example, as we saw in hole 40, the grade varies from 0.4% to about 61% U3O8 over a distance of about 10 centimeters. While following up two previously drilled holes that did not encounter uranium mineralization to the southwest of the Roughrider Zone, we steepened the drill angle by 5 degrees and intersected mineralization containing approximately 3.5 metres of highly radioactive material in drill hole 116, which has measured densities up to 7.65. This reinforces the need we have for intensive drilling over prospective sections."

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
    President
    Office. 1-604-683-0911 or Toll free. 1-866-683-0911
    1-604-683-7161 (FAX)
    www.terrauranium.com