Hathor Exploration Limited

COMPANY DATA | INTRODUCTION |  PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE

COMPANY DATA

INTRODUCTION

Hathor Exploration Limited is a junior uranium exploration company focused on exploration projects in the Athabasca Basin of Northern Saskatchewan, Canada. Hathor's main exploration properties are located on the eastern side of the Athabasca Basin in the Wollaston Domain, a geological terrain that hosts all currently producing Canadian uranium mines and accounts for 25% of global production.

PROJECT IN HAND

(A) Athabasca Basin (Uranium)

Hathor Exploration Limited has uranium property interests that cover a total 313,010 hectares (773,465 acres) in the Athabasca Basin region of mining-friendly Saskatchewan and Alberta. Athabasca Basin hosts the world's highest-grade uranium ore deposits. Hathor's main projects are surrounded by Cameco, AREVA and Denison mines.

Hathor has interests in twelve properties covering a total of 198,716 hectares (491,038 acres) in the eastern Athabasca Basin of Saskatchewan. This area accounts for about 25% of the world's annual mine production of uranium.

In the western Athabasca Basin, Hathor holds interests in two projects that cover about 114,294 hectares (282,427 acres) located near AREVA Resources Canada Inc.'s (formerly COGEMA) past-producing Cluff Lake mine from which over 62 million pounds of U3O8 were produced during that mine's 22-year operating life.

Hathor Properties in the Eastern Athabasca Basin

(1) Midwest NorthEast Project

· Roughrider Zone was discovered in February 2008 including drill results of 11.9 metres grading 5.29% U3O8 with individual assays grading up to 40.20% U3O8 over 0.2 m

· 90% -owned property totalling 502 hectares (1,240 acres) located approximately 4 km to the northeast of the Midwest uranium orebody of AREVA Resources Canada Inc., Denison Mines Inc. and OURD Canada Co. Ltd. that grades 5.47% U3O8, 4.37% nickel and 0.33% cobalt

· 900 metres to the northeast of the Midwest property Midwest A (Mae) Zone discovery where Denison have reported recent drill results including: 6.2% U3O8 over 7.1 m; 11.7% U3O8 over 7.7 m; 1.1% U3O8 over 17.7 m; 9.5% U3O8 over 7.2 m; 12.4% U3O8 over 6.1 m; and 15.3% U3O8 over 12.5 m

· Depth to the Athabasca unconformity of approximately 200 metres

· 3D seismic program completed in early 2007, processing and modeling of data currently on-going

· Extensive winter diamond drill program completed in winter 2008 totalling approximately 10,000 m. Further assay results and announcements are pending

· Drilling planned for summer 2008, followed up by large drill program in early 2009.

(2) Wollaston Northeast Project

· 49% interest in four properties covering 23,383 hectares (57,781 acres)

· Located 80 km to the northeast of Cameco Corporation's basement-hosted Eagle Point Mine

· Prospective basement geology of the transition zone between the Mudjatik and Wollaston Domains

· Drilling planned.

(3) Hatchet Lake and North Hatchet Projects

· 100% interest in two properties covering 39,020 hectares (96,421 acres)

· Located approximately40 km to the north-northeast of Cameco's basement-hosted Eagle Point Mine.

(4) Milliken Creek Project

· 100% interest in 3,995 hectares (9,872 acres)

· Located about 26 km east-southeast from Cigar Lake where proven and probable ore reserves average 19.06% U3O8 - the equivalent of about 47 oz/t gold using December 31, 2006, spot metal prices

· Depth to the Athabasca unconformity estimated to be 80 to 125 metres.

(5) South Russell and Russell Lake Projects

· 40-100% interest in a contiguous land package stretching approximately 60 km long and 10 km wide and covering about 71,670 hectares (177,100 acres)

· Bordered to the north by the McArthur River mine property of Cameco and AREVA where proven and probable ore reserves average 20.55% U3O8

· Bordered to the east by the Moore Lake property of JNR Resources and Denison Mines

· Bordered to the west by the Wheeler River property of Denison and Cameco where drilling continues

· Bordered to the southwest by AREVA and Cameco's formerly producing Key Lake mine area properties

· Depth to the Athabasca unconformity ranges from approximately 100 to 575 metres

· Exploration work completed includes:
- GEOTEM airborne magnetic and EM surveys
- high-resolution, 2D reflection seismic survey
- high-resolution, airborne tri-axial gradiometric magnetic surveys
- ground gravity survey
- lineament analysis including IKONOS satellite imagery analysis

· 2008 drill programs on both projects.

(6) Vedette Lake Project

· 100% interest in permit covering 49,998 hectares (123,548 acres)

· Located approximately 120 km to the southwest of the Key Lake uranium processing facility and former-producing mine of AREVA and Cameco.

(7) Haultain River Project

· 50-50 joint venture with Forum Uranium on 10,148 hectares (25,076 acres)

· Covers extension of the Key Lake Road Shear Zone southwest of past-producing Key Lake mine.

Hathor Properties in the Western Athabasca Basin

(1) Old Fort Bay Project

· Joint venture with Triex Minerals covering 87,040 hectares (215,081 acres) of Athabasca Basin in Alberta

· Located approximately 35 km from AREVA's formerly-producing Cluff Lake mine and about 50 km northeast of AREVA's Maybelle River property where AREVA have reported drill intercepts of up to 21% U3O8 over 5 metres and individual assays of up to 54.5% uranium

· Depth to the Athabasca unconformity estimated to be more than 800 metres.

(2) Carswell Project

· 50-50 joint venture with ESO Uranium on 27,254 hectares (67,346 acres)

· Borders AREVA's past-producing Cluff Lake mine.


(B) Hornby Bay Basin (Uranium)

Hathor acquired 16 Mining Permits totalling approximately 600,000 acres in the area north and east of Hornby Bay on the east side of Great Bear Lake in the North West Territories. Fifteen of these permits are contiguous. These permits cover parts of the east side of the Hornby Bay Basin which has geological similarities to the Athabasca Bain for localization of uranium mineralization.

Hathor has acquired several large land positions totalling more than 2 million acres, covering some of the more favourable portions of the Hornby Bay Basin.

(C) Eskay Creek (Gold & Silver)

Hathor holds approximately 300,000 acres in the Eskay Creek camp, which is one of the most prolific gold-silver camps of North America. The Eskay Creek area is considered to be one of the richest and most prospective geologic terrains in North America.

MANAGEMENT

Hathor Exploration Limited has a professional management team with experience in different areas.

Highly Experienced Management, Technical Team & Advisers

Stephen Stanley, President, CEO & DirectorMatthew J. Mason, Director, Chairman

Benjamin Ainsworth, P.Eng, Director

John Currie, CA, Director - CFO, lululemon athletica inc.

Martin Glynn, Director - Director of Husky Energy Inc.

Andriyko Herchak, CA, CFO

Dale Wallster, B.Sc. Hons., Geologist, Founder of Roughrider Uranium

Alistair McCready, Ph.D., M.Sc., Technical Team - Senior Project Geologist

Tom Elash, B.Sc. Hons., Technical Team - Project Geologist

Brian Reilkoff, B.E., M.Sc., P.Geo., Consulting Geophysicist & 3-D Imaging Specialist

Zoltan Hajnal, Ph.D., Seismological Research Adviser - University of Saskatchewan

Bhaskar Pandit, Ph.D., P.Geo., Seismological Research Advisor - University of Saskatchewan

Phil Robertshaw, M.Sc., P.Geo., Consulting Geophysicist

Irvine Annesley, Ph.D., P.Geo., Consulting Geologist

Barry Cook, M.Sc., P.Eng., Consulting Geologist - Scott Wilson Roscoe Postle

William Roscoe, Ph.D., P.Eng., Consultant - Scott Wilson Roscoe Postle


NEWS UPDATE

On August 11, 2008, Hathor Exploration Limited announces that it will grant incentive stock options to its directors, officers, consultants and employees to purchase an aggregate 1,195,000 shares in the capital of the Company at an exercise price of $3.00 per share for a period of five years.

On August 11, 2008, Hathor Exploration Limited announces that it has encountered basement-hosted uranium mineralization in the fourth, fifth and sixth diamond drill holes completed during the summer 2008 drill program on Hathor's 90%-owned Midwest NorthEast project. 

Step-out drill hole MWNE-08-34 extends the basement-hosted Roughrider Zone uranium mineralization by approximately 15 metres towards the northeast.

On August 6, 2008, Hathor Exploration Limited announced that it has received additional base metal and gold analysis from winter 2008 drill program at its 90%-owned Midwest NorthEast project. This data adds considerable "geological support" for the potential to develop significant unconformity-style uranium resources at the Roughrider Zone.

For individual samples at Roughrider Zone, base metal results were as high as: Cobalt 2.47%, Copper 9.50%, Molybdenum 2.81%, Nickel 19.20%, Lead 12.10%, and Zinc 5.39%.

Gold values from individual samples were as high as 6.63 g/t.

On July 28, 2008, Hathor Exploration Limited announced that it has encountered basement-hosted uranium mineralization in the second and third diamond drill holes completed during the summer 2008 drill program on its 90%-owned Midwest NorthEast project. 

Step-out drill hole MWNE-08-32 extends the basement-hosted Roughrider Zone uranium mineralization by about 23 metres toward the northeast.

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