Terra Ventures Inc.
TSX VENTURE : TAS
FRANKFURT : G7K

Terra Ventures Inc.

December 08, 2010 12:05 ET

Terra Ventures Inc.: Hathor Intersects 10.5% U308 over 16.5 m at Roughrider East and the Roughrider Zone is Bolstered by Additional Mineralization

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 8, 2010) - Terra Ventures Inc. (TSX VENTURE:TAS)(FRANKFURT:G7K) 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 December 8, 2010, Hathor reported:

"Hathor Exploration Limited (TSX VENTURE:HAT) is pleased to provide the final chemical assays for its 2010 summer drill program on its Midwest Northeast Property, Athabasca Basin, Saskatchewan. Key results include:

  • high grade intersections at Roughrider East which extend the strike length of deposit to 160 m, including a high grade core over 100 metres
  • The Roughrider deposit itself has been bolstered by new mineralization intersected outside the extents of the recently upgraded resource of 28 Mlbs U308 including 24 M lbs at 11.7% U3O8 average grade (see News Release dated Nov. 30, 2010). The extension is not material. 

Roughrider East was not included in the recent resource update for the Roughrider deposit itself, and it represents significant upside potential for the overall resource of the Midwest North East property. 

Aggressive delineation drilling will continue this winter, on the heels of two of the largest drill programs completed in the Athabasca last year (44,370 metres drilled in 129 holes). Figure 1 is a schematic representation of the overall potential on the Property. Drilling this winter will focus on in-fill and extension drilling at Roughrider East, and follow-up drilling of alteration intersected to the northeast of Roughrider, and south of Roughrider East, along a 700 m resistivity anomaly.

RESULTS

Three rigs completed 18,840 m in 52 holes during the 2010 summer program (Figure 2). Summaries including down-hole gamma probe results have been release previously for all drill holes. This News Release provides summary chemical assay data in (Table 1) for all mineralized drill holes at Roughrider East, excluding drill hole 648 which was previously reported (see News Release dated Oct. 21, 2010), and in Table 2 for infill drilling at Roughrider Main East. 

All figures and tables in this News Release are also available on the Company's website at www.hathor.ca

Roughrider East Highlights Reported Herein:

  • Line 60 West (40m West of Hole 648) (Figure 3)
    MWNE-10-656A 10.5% U308 over 16.5 m
    including: 22.0% U308 over 7.0 m
    ** Overall, 4 mineral zones over 51 metres of altered rock
  • Line 40 East (60 m East of Hole 648) (Figure 4)
    MWNE-10-649 3.3% U308 over 14.5 m
    ** Overall, 8 mineral zones within 150 metres of altered rock

Previously released intersections from Roughrider East are shown on the following page. Together with the new results, they confirm 160 m of strike potential at Roughrider East (Line 100 West to Line 60 East), sill open in both directions (Figure 5). Photographs of massive pitchblende and semi-massive pitchblende-hematite worm rock have been released previously and are available on the Company's website at www.hathor.ca

Summary of Select Holes from Roughrider East

  • Line 100 West
    MWNE-10-629: 1.2% U308 over 9.5 m
     
  • Line 60 West
    MWNE-10-656A 10.5% U308 over 16.5 m
     
  • Line 20 West
    MWNE-10-648: 7.8% U3O8 over 63.5 m
       including: 24.3% U3O8 over 17.5 m
    WNE-10-604A: 9.2% U3O8 over 8.0 m
    MWNE-10-608: 5.3% U3O8 over 15.5 m
    MWNE-10-609: 3.7% U3O8 over 25.5 m
    MWNE-10-610: 22.5% U3O8 over 12.0 m
    MWNE-10-612: 11.8% U3O8 over 19.0 m
  • Line 40 East
    MWNE-10-649 3.3% U308  over 14.5 m

New Results from Roughrider Deposit

Only 19 of 52 drill holes in the 2010 summer program were completed on the Roughrider deposit itself. Objectives included closing off mineral zones on some lines, and in-fill drilling of mineralization outlined by widely spaced holes on other lines. Highlights are shown below.

  • Line 50 East (Figure 6)
    MWNE-10-230: 0.24% U308 over 12.0 m
       including: 1.23% U308 over 3.0 m
     
  • Line 20 E
    MWNE-10-220: 3.91% U3O8 over 7.5 m
  • Line 0 E
    MWNE-10-227A: 1.23% U308 over 15.0 m
     
  • Line 10 E
    MWNE-10-240: 1.62% U3O8 over 13.0 m

Drilling from the 2010 summer program was not included in the updated mineral resource estimate for the Roughrider deposit (see News Release dated Nov. 30, 2010). Results from the summer 2010 drill holes do not produce a material change, positive or negative, to the overall estimate of 28 M lbs. 

Midwest Northeast Property

Terra Ventures Inc. owns a qualified 10% interest in the Property, carried to the completion of a positive feasibility study on the Roughrider Deposit.

Alistair McCready, Ph.D., P.Geo., Hathor's Exploration Manager with responsibility for all of Hathor's exploration in Saskatchewan, and Michael Gunning, Ph.D., P.Geo, Hathor's Chief Operating Officer, are Qualified Persons as defined by National Instrument 43-101 and have 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"

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.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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