RUSSELL LAKE

Hathor Exploration Limited provided an update, including drill results, on its Russell Lake exploration program in the southeastern part of the Athabasca Basin in northern Saskatchewan, Canada.

Hathor Exploration Limited announced an update on its Russell Lake property in the southeastern part of the Athabasca Basin in northern Saskatchewan, Canada. Highlights include; drill hole CL-10-03 intersected visible pitchblende mineralization within an intensely hematite-altered and brecciated pegmatite. The interval of 0.4 meter returned geochemical values of 0.17 wt% U3O8, 15 wt% calcium, (up to 10 wt% phosphorous, with elevated rare earth elements.

Announced today that a geophysical surveying program has commenced at the Russell Lake. The program consists of 19.2 kilometres of electromagnetic (“EM”) surveying near the Grayling Zone, an area of the Project that has several significant occurrences of uranium mineralization within prospective geological structure. The purpose of the survey is to confirm the presence of certain historical conductors that may be linked to the known conductive system at the Grayling Zone. Eleven drill holes totaling 5,337.24 metres were completed on the Grayling Zone, Grayling East, Fox Lake Trail, and Christie Lake target areas. Anomalous uranium mineralization was encountered at the Grayling Zone, and at Fox Lake Trail. A uranium grade calculation from downhole gamma probe data for Grayling Zone hole RL-08-16 returned a U3O8 equivalent value in the sandstone of 0.14% U3O8 over 0.50 metres from 330.5 to 330.99 metres, near the unconformity. Fox Lake Trail hole FLT-08-06 returned a U3O8 equivalent value in the basement rocks of 0.20% U3O8 over 0.20 metres from 522.92 to 523.12 metres. Ground geophysical surveys and a geochemical survey program were carried out to locate and better define future drilling targets.