Hathor Exploration Limited: Fall Drill Program Underway at Russell Lake

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 30, 2010) - Hathor Exploration Limited (TSX VENTURE:HAT) is pleased to announce that drilling has commenced on its Russell Lake Property in the Athabasca Basin.

The fall exploration program at Russell Lake will include ground geophysics and approximately 3,000 m of diamond drilling. A transient audio magnetotelluric survey (TAMT) will be completed over two grids (Fox and M Zone Extension), with a third grid (Christie Lake) to be completed this winter (Figure 5). Drilling will start this fall at Christie Lake, with drilling planned for the other two grids this winter. Depth to the unconformity is expected to be around 400 m. Targets are based on the integration of an array of recent geophysical surveys, updated regional geological studies, and synthesis of historical work, as summarized on the Company's website at www.hathor.ca; as shown on Figure 4, the Property has seen little previous drilling relative to surrounding areas.

The Russell Lake property is within the eastern corridor of the Athabasca Basin (Figure 2). This corridor accounts for 100% of current uranium production in Canada, and more than 20% of global primary uranium supply. The greatest endowment of proven resources within the eastern corridor is in the region surrounding Russell Lake (Figure 3). The south end of the property is 15 km northeast of the Key Lake mine/mill complex. The northern end is 12 km southeast of the McArthur River mine. Denison Mines' recent discovery at Wheeler River (the Phoenix deposit) is near the west-central boundary of the Russell Lake property. The M Zone Extension, Christie Lake and Fox Lake grids are located to the northeast along regional strike from Phoenix and M Zone.

Russell Lake has excellent infrastructure. The McArthur River - Key Lake haul road runs along the western margin of the property. The exploration camp is road-accessible, and a helicopter will not be needed to facilitate field work.

The Russell Lake Project covers both of the properties historically referred to as Russell Lake and South Russell (Figure 1). Combined, the properties cover approximately 71,670 ha in one contiguous block of 23 claims. Hathor controls 100% of the Russell Lake property (45,742 ha), following the successful acquisition of Northern Continental Resources (see News Release dated November 23, 2009). The South Russell property is owned 90% by Hathor, with a cumulative 10% interest held by two parties, and carried to completion of a feasibility study.

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

Hathor Exploration Limited

Stephen G. Stanley, President

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