Hathor Exploration Limited (TSX:HAT) is pleased to announce that it has received
three Mineral Leases from the Saskatchewan government covering its Roughrider
uranium deposit located in the Athabasca Basin. This is a major milestone for
not only the project, but also the 35 year mining district. 


The Roughrider uranium deposit was discovered in 2008 on the Midwest Northeast
Property, which was comprised of three mineral claims covering 543 ha. The
largest claim, S-107243, was staked in 2004 and covers 502 hectares. Exploration
and mining in Saskatchewan is governed by the Mineral Disposition Regulations,
1986, administered by the Mines Branch of the Saskatchewan Ministry of Energy
and Resources. There are two key land tenure milestones that must be met in
order for commercial production to occur in Saskatchewan: 1. Conversion of a
Mineral Claim to Mineral Lease, and; 2. Granting of a Mining Lease to cover the
specific area within a Mineral Lease where mining is to occur. Hathor has
successfully achieved the first milestone for Roughrider and the Midwest
Northeast Property: conversion to a mineral lease. 


This is also a significant milestone for the Athabasca Basin, the preeminent
high grade uranium district in the world, with more than 35 years of mining
history from 5 operations. Government of Saskatchewan records show that the last
mineral lease issued for a uranium project in the Athabasca Basin was in 1985.


As shown on Figure 1, the Roughrider project is located favourably for
cost-effective exploration and mining. It is connected to Highway 955 by a 6 km
winter road. The property is 8.5 km north of the community of Points North and
the Points North commercial airport, the main service hub for northeastern
Saskatchewan. It is within 25 km of operating uranium mine, mill and tailings
facilities established at Rabbit Lake and McClean Lake during the past 35 years
of production in the Athabasca. 


Terra Ventures Inc. owns a qualified 10% interest in the largest lease on the
Property, carried to the completion of a positive feasibility study and public
announcement of intention to go into commercial production.


Hathor also confirms, as announced by Hathor on March 29, 2011, and by the TMX
Group on April 1, 2011, that the 120,392,451 common shares of the Company now
trade on the Toronto Stock Exchange, as of market opening today, April 5, 2011.
This is a major milestone for the Company, and it parallels the advancement of
the Midwest Northeast mineral claim to mineral lease. The common shares of the
Company had been listed on TSX Venture Exchange since June 10, 1999 under the
symbol "HAT" and were delisted from TSX Venture Exchange today, upon
commencement of trading on TSX under the symbol "HAT".


Alistair McCready, Ph.D., P.Geo., Hathor's VP of Exploration with responsibility
for all of Hathor's exploration in Saskatchewan, and Michael Gunning, Ph.D.,
P.Geo, Hathor's Chief Executive Officer, are Qualified Persons as defined by
National Instrument 43-101 and have reviewed and approved the technical
disclosure contained in this news release. 


On Behalf of the Board of Directors

Michael H. Gunning, PhD, PGeo, President & CEO

Hatch Interactive Technologies Corp. (TSXV:HAT)
Historical Stock Chart
From Dec 2024 to Jan 2025 Click Here for more Hatch Interactive Technologies Corp. Charts.
Hatch Interactive Technologies Corp. (TSXV:HAT)
Historical Stock Chart
From Jan 2024 to Jan 2025 Click Here for more Hatch Interactive Technologies Corp. Charts.