This hole comprises two distinct high-grade core intersection intervals of 10.0 m and 8.0 m of 13.44 % and 27.66 % U3O8 respectively, separated by a 10.0 m core intersection with an average of grade of < 0.05 % U3O8 (cut-off grade). In a mining scenario, where the two mineralized zones and the zone of internal dilution are extracted together, this equates to an average grade of 12.71% U3O8 over the core-length of 28 m.

Of particular significance are results from drill hole MWNE-09-170, which intersected high grade mineralization about 200 m northeastwards from the Roughrider Zone (RRZ), as defined by the resource estimate.

Alistair McCready, Hathor’s Senior Project Geologist, said: “It’s exceptionally encouraging to see DDH #170, effectively a 200 metre step-out from the Roughrider Zone, return such high-grade results. The assay interval grading about 82 % U3O8 is second only to the 84 % U3O8 in DDH #116, which is collared about 450 metres away from DDH #170. There is a world of opportunity to find more high-grade mineralization, both between these holes and extending outward from them, and from the recently-completed resource study, we know that high-grade can most certainly add a lot of uranium pounds with very little tonnage increases.”

Eighteen of the drill holes reported here, from the currently defined RRZ area, intersected uranium mineralization (using a 0.05 wt% U3O8 cut-off grade). The other ten drill holes contain uranium mineralization ranging from 0.07 % U3O8 over 0.5 metres to 0.90 % U3O8 over 9.0 metres. It is important to note that the majority of the non-mineralized drill holes do not intersect the current resource estimate nor are they located within the target areas identified for further drilling this winter. Two drill holes (MWNE-09-171 and MWNE-09-172), although well-mineralized, were metallurgical test holes and do not yet have reported assays.

Of the 31 drill holes outside of the resource estimate, six of these were reconnaissance drill holes that intersected typical mineralization-related alteration that led to the discovery of MWNE-09-170. Five drill holes were part of the reconnaissance program in which similar alteration is drill defined a further 1,000 m northeast of the MWNE 09-170. The alteration envelope has potential to continue from the western limits of the claim boundary to beyond these most northeasterly drill intersections of alteration with mineralization, a distance of over 1500 meters. These drill holes are currently being analysed by ICP-ES methods for a large suite of elements, including uranium by partial and total digestion, and uranium pathfinder elements. These results will be used to help target further drilling, especially in areas where alteration was intersected in either the basement or sandstone rocks.

Samples were analyzed for U3O8 at the Geoanalytical Laboratories of the Saskatchewan Research Council (SRC). The facilities used for the analysis operate in accordance with ISO/IEC 17025:2005 (CAN-P-4E). The samples were analyzed using ISO/IEC 17025:2005-accredited U3O8 method. Laboratory method quality control included the insertion of repeat samples and certified reference materials applicable for the ranges of mineralization encountered. Additional repeat analyses were performed on every 20th sample.

Terra Ventures Inc. owns a 10% production carried interest in the Midwest NorthEast property.