U.S. Markets close in 2 hrs 59 mins

Hathor Exploration Limited: Follow Up Winter Drilling Begins at Henday Uranium Project, Saskatchewan

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 12, 2011) - Hathor Exploration Limited (TSX VENTURE:HAT - News) and Forum Uranium Corp. (TSX VENTURE:FDC - News) announce that the 2011 winter diamond drill program is now underway on the Henday uranium project in the northeastern Athabasca basin, Saskatchewan.A total of 3,750 metres of diamond drilling is planned. Drilling will first test the large area of prospective alteration and local uranium mineralizatin discovered in 2010 at Mallen Lake. New targets farther to the west will also be tested for the first time (Figure 2). Named King and Crimson, they are located along the inferred northeastern extension of the prolific Midwest Trend (Figure 1). The Midwest trend hosts the Midwest deposit (Areva/Denison), the Roughrider deposits of Hathor, and the nearby J Zone (Fission).Mallen Lake ZoneDrilling will commence on the Mallen Lake Zone, where a large alteration system extending well into the overlying sandstones and down into the basement rocks was discovered in the 2010 drill season. The depth to unconformity is only 100 m in the Mallen Lake area. Several drillholes intersected weak uranium mineralization, with 0.5 metres at 723 ppm U in RL-66 and 0.5 metres of 0.16% U in RL-68, both within basement lithologies. Monometallic geochemistry (very minor arsenic and nickel) returned from this zone suggests that the uranium mineralization model is similar to Hathor's Roughrider Deposit or Cameco's Millennium Deposit.A series of drill holes are planned to intersect a graphitic unit within the basement rocks, just below the unconformity and approximately 80 metres below the unconformity on either side of the mineralization intersected in 2010. Any further uranium mineralization will be followed up immediately.Other Priority TargetsThe two other targets to be tested are located along the interpreted northern extension of the Midwest fault where it is intersected by cross-cutting structures; the Mallen Lake structure and the Moonlight structure. These areas have never been drill tested and show a combination of electromagnetic conductors, and both gravity and resistivity lows (indicative of alteration). A soil sampling survey completed in the summer of 2010 returned elevated uranium values in these areas.OwnershipHathor currently holds a 40% interest in the Henday project. The funding of this drill program by Hathor will complete Hathor's option to earn a 60% interest in the Henday project. Hathor will have the option to earn an additional 10% earned by electing to take the project to a bankable feasibility study (for details see the Company's website at www.hathor.ca).The Henday Joint Venture is currently operated by Forum. Ken Wheatley, P.Geo. (Saskatchewan, Nunavut), Vice President Exploration at Forum, is responsible for the project and is the Qualified Person for Forum.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.Stephen G. Stanley, President & CEOHathor Exploration LimitedNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.