VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 1, 2011) - Hathor Exploration Limited (TSX:HAT). Hathor Exploration Limited announces that, further to Hathor's press release of August 29th, it has now received Cameco Corporation's formal unsolicited all cash take-over bid offer for Hathor at a price per Hathor common share of Cdn.$3.75. Hathor's closing share price on the TSX yesterday, August 31st, was C$ 4.14.

The Board of Directors of Hathor is in the process of assessing Cameco's offer with its legal and financial advisors. The Company continues to urge its shareholders not to respond to the Cameco offer until the Company has had sufficient time to respond to the offer and make available to shareholders information on the economic parameters for Roughrider, assays from the recently completed drill program at Far East Zone, and also insights into the strategic nature of the Athabasca Basin in the global uranium industry and how that relates to the value of the Roughrider uranium deposit.

Hathor will formally respond to the Cameco offer no later than September 14th, 2011.

Subsequent to the successful acquisition of Terra Ventures Inc. (see News Release dated August 5, 2011), Hathor owns 100% of the Roughrider uranium deposit.

Dr. Michael H. Gunning, President & CEO