Hole 116: 2.5 Metres Grading 70.34% U3O8             Hole 94: 5.5 Metres Grading 12.62% U3O8             Hole 80: 18.5 Metres Grading 3.43% U3O8             Hole 79: 12 Metres Grading 10.18% U3O8             Hole 12: 11.9 metres grading 5.29% U3O8             Hole 19: 2.1 metres grading 4.11% U3O8             Hole 20: 15 metres grading 10.02% U3O8 including 2 metres grading 43.85% U3O8             Hole 21: 9 metres grading 10.06% U3O8 including 3 metres grading 22.72% U3O8             Hole 22: 6.5 metres grading 2.27% U3O8             Hole 28: 9.5 metres grading 2.60% U3O8 including 2 metres at 10.39% U3O8             Hole 30: 69 metres grading 2.33% U3O8             Hole 32: 6.5 metres grading 20.41% U3O8             Hole 37: 18 metres grading 4.15% U3O8             Hole 40: 23 metres grading 11.23% U3O8             Hole 42: 3.5 metres grading 5.92% U3O8             Hole 44: 13.5m grading 2.6% U3O8             Hole 56: 15 metres grading 12.03% U3O8 including 0.5 metres grading 70.7% U3O8             Hole 79: 12 Metres Grading 10.18% U3O8             Hole 80: 18.5 Metres Grading 3.43% U3O8             Hole 94: 5.5 Metres Grading 12.62% U3O8             Hole 116: 2.5 Metres Grading 70.34% U3O8
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 October 25, 2007
Russell Lake Project Drill Update
 News Release 07-29

Hathor Exploration Limited (HAT: TSX-V) announces that it has ended its summer diamond drill program on the Russell Lake property, a joint venture with Northern Continental Resources Inc. (NCR: TSX-V).

Eight diamond drill holes were completed during this program, which focused on the extended vicinity of the Grayling Zone where historical drilling intersected uranium mineralization. Based on promising geology observed in drill core, the Grayling Zone drill program will be expanded this winter. Plans for other Russell Lake exploration target areas are being prepared and will be released shortly.

Highlights of the 2007 summer drilling, which totalled 3554 metres, include:

  • Three drill holes RL-07-04 to RL-07-06 intersected weak uranium mineralization, as indicated by down-hole gamma-ray radiometrics, within the basement package of rocks. One hole (RL-07-05) intersected multiple zones of mineralization.
  • Variable amounts and combinations of argillic, pyritic and limonitic alteration, desilicification, and well developed fault zones within the sandstone column were intersected in several drill holes (RL-07-01, RL-07-04, RL-07-05, RL-07-06, RL-07-08).
  • Favourable structural-geochemical traps and lithologies within the basement were intersected in 4 drill holes (RL-07-01, RL-07-04, RL-07-05, RL-07-06).
Drill hole RL-07-01 was lost in targeted conductor rocks (strongly graphitic pelitic gneiss) due to very bad ground conditions (strong alteration and faulting) within the basal section of the sandstone column. Drill hole RL-07-06 was lost, below a zone of mineralization, in a large (10m+) clay-rich dissolution zone/void within the basement rocks at a depth of 385 metres.

Sandstone and basement drill core samples have been submitted to the Geoanalytical Laboratories of the Saskatchewan Research Council in Saskatoon, Saskatchewan. This facility operates in accordance with ISO/IEC 17025:2005 (CAN-P-4E), General Requirements for the Competence of Mineral Testing and Calibration.

The Grayling Zone is located equidistant (~35 km) from the McArthur River mine and Key Lake mill facilities of Cameco Corporation and AREVA Resources Canada Inc. Access to the Grayling area is provided by an all-weather road along which uranium ores from the McArthur River mine are trucked to the formerly-producing Key Lake mine for processing.

With capital resources in excess of Cdn $20 million, Hathor continues to aggressively advance its portfolio of ten exploration projects in the Athabasca area of mining--friendly Saskatchewan and Alberta; the world's premier region for high-grade uranium deposits. For more information on the Hathor's uranium projects, please visit the company's website: www.hathor.ca or contact Stephen Stanley at 604-684-6707.

Benjamin Ainsworth, PEng, a director of the Company and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release.

Hathor Exploration Limited
"Stephen G. Stanley"
Stephen G. Stanley, Director

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

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